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 1.3696), which generally contributes to the decline in the price in the short term. I recommend to work on this pair from the sales on the basis of the existing wave model.
Breaking through resistance at 1.3596 with the aim to go up to resistance at 1.3672 and if it is broken through to 1.3756 will be a signal to open a long position. Stolploss in this strategy can be placed at the level of 1.3490.
The signal for the opening of a short position will be a breakdown of support at 1.3507 with the aim of going down to 1.3431, in case it is broken through 1.3372. Stolploss in this strategy can be placed at the level of 1.3565.
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 pair EUR/USD is trading within the ascending price channel on the hourly chart. I recommend opening long positions in case of breakdown of the resistance at 1.0096 with the aim of going up to the resistance at 1.0125-1.0151. A stop below 1.0050.
I recommend to open short positions after breakdown of support at the level of 1.0059 with the aim to go down to support at the level of 1.0033-1.0004. Stop above 1.0115.
GBP/USD Signals
GBP/USD is trading within the ascending price channel on the hourly chart. I recommend to open long positions in case of breakdown of resistance at 1.1643 at the end of the hour with the aim to increase to the resistance at 1.1696-1.1749. Stop below 1.1590.
I recommend to open short positions in case of breakdown of support at the level of 1.1600 with the aim to go down to the support at 1.1545-1.1490. Stop above 1.1655.
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