USD/CAD signals
The USD/CAD pair is trading within an uptrend on a 4-hour chart. It shows that the USD/CAD exchange rate is trading above the moving average with a period of 55 on the hourly chart (level 1.3382), which generally contributes to the price increase in the short term. I recommend working on this pair from purchases based on the established wave model.
The signal to open a long position will be a breakdown at the end of the resistance hour at 1.3497 in order to increase to the resistance at 1.3574 and in case of its breakdown at the end of the hour to 1.3667. Stop loss with this strategy can be placed at 1.3370.
The signal to open a short position will be a breakdown at the end of the support hour at the level of 1.3382 with the aim of reducing to support at the level of 1.3301 in case of its breakdown at the end of the hour 1.3227. The stop loss with this strategy can be placed at the level of 1.3505.
Given that the moving average and the location of the boundaries of technical figures are moving over time, it is necessary to adjust their position on the hourly chart. I also recommend opening positions at the end of the hour to avoid false breakouts.
EUR/USD signals
The EUR/USD pair is trading within the descending price channel on the hourly chart. I recommend opening long positions in case of a breakdown at the end of an hour of resistance at 1.0283 in order to increase to resistance at 1.0329-1.0370. Stop below 1.0200.
I recommend opening short positions after the breakdown at the end of the support hour at 1.0225 in order to reduce to support at 1.0179-1.0138. Stop above 1.0295.
GBP/USD signals
Based on technical modeling for the pound/dollar pair, a forecast of further movement has been formed and the average price is predisposed to decline.
In this technical situation, the pound can be sold from the level of 1.1864, you can also place a pending sell order at the level of 1.1931 in order to reduce to the support area at the level of 1.1749-1.1382, the stop with this strategy can be placed at the level of 1.2035.
In the case of a profit of 30 points or more, we fix 50% of the position, and put the rest at no loss. If this forecast for the GBP/USD pair coincides with your opinion, then you can safely use this strategy.
Read more: GBP/USD exchange rate (Online Chart), forecast for today