USD/CAD Signals
USD/CAD is trading in a downtrend on the 4-hour chart. It shows that the USD/CAD rate is trading below the moving average with a period of 55 on the hourly chart (the level of 1.3410), which generally contributes to the decline in the price in the short term. I recommend to work on this pair from purchases on the basis of the existing wave model.
The signal for long position opening will be a break-down of resistance at 1.3399 with the aim to go up to the resistance level of 1.3481 and in case of its break-down at the end of the hour to 1.3574. Stop-loss may be placed at the level of 1.3300.
The signal for the opening of a short position is a breakdown of support at 1.3236, with the aim of going down to 1.3164 if it is broken through 1.3087. Stop-loss in this strategy can be placed at the level of 1.3375.
Taking into account that the moving average and the location of the technical figure boundaries move over time, it is necessary to make corrections in their positions on the hourly chart. I also recommend opening positions by the end of the hour to avoid false breakouts.
EUR/USD Signals
The EUR/USD pair is trading within the ascending price channel on the hourly chart. I recommend opening long positions in case of breakdown of resistance at 1.0400 with the aim of going up to resistance at 1.0441-1.0477. A stop below 1.0330.
I recommend opening short positions after breakdown of support at 1.0340 with the aim to go down to support at 1.0303-1.0266. Stop above 1.0420.
GBP/USD Signals
On the basis of technical modeling on pair pound/dollar the forecast of the further movement was formed and the average urgent predisposition to decrease.
In the given technical situation pound can be sold from the level of 1.1931 and also it is possible to expose the pending sell order at the level of 1.1993 with the purpose of decrease in the area of support at the level of 1.1733-1.1382, the stop at the given strategy can be placed at the level of 1.2035.
If we gain a profit of 30 pips or more, we fix 50% of the position, and place the rest of the profit at no-loss. If this forecast for GBP/USD coincides with your opinion, then you should feel free to use this strategy.
Read more: GBP/USD exchange rate (Online Chart), forecast for today