USDCAD – 240 – Keeping a close eye on it

USDCAD – 240 – Keeping a close eye on it


This week, USD/CAD             is unstoppable and the direction that it’s moving is only up. It managed to get above the high of around 1.26850 of the previous two weeks, and at the time of this analysis the pair is trading slightly above the 1.27 mark.

The overall trend is still to the upside. This has been running from September 2012 and has not been broken yet. As for today, we can see that USD/CAD             keeps holding on this small upwards moving trendline support, that started last Friday. It has not been broken yet and it kept pushing the price higher throughout the week. A move above the 1.27250 could push the pair up to yesterday’s high of around 1.27550, that could act as the first resistance level . A move further above that opens the way towards the 1.28 area.

If the above mentioned short-term trendline will not hold and the price will break it, then we could see a move back to the 1.26850 area. Below that we have the 21 EMA , which is around the 1.26650 level. A break below that area could push USD/CAD             towards the 50 EMA , which is around the 1.26200 mark.

EURUSD – 240 – Could we some continuation to the downside?

EURUSD – 240 – Could we some continuation to the downside?


EUR/USD             has been on a downslope this week, managing only to recover some of its losses on Thursday. Today we are seeing some negative activity in the pair’s price, where it made a significant move down from its yesterday’s highs of around 1.23520.

The Euro             is currently trading against the US Dollar             below the upwards moving trendline , that started around mid-December last year. Even though yesterday it had a push back slightly above it, still this momentum was short-lived and the pair sold off again. If EUR/USD             starts getting below 1.22850 level, then we must carefully monitor the probability for the pair to hit 1.22600. If this area won’t hold, then a push to the 1.22300 or even 1.22 could be next.

If we suddenly get a move back up above the previously mentioned short-term upwards moving trendline , then the next level to watch would be 1.23500. If broken, EUR/USD             could make a move to 1.23900 or even to 1.24250.

CryptoCurrency Daily Recap 22nd FEB

CryptoCurrency Daily Recap 22nd FEB

Ethereum / Dollar BITFINEX:ETHUSD


Long term view for BTC is bearish . Currently BTC             is trading below 50 MA and also below 100 MA.
BTC             is currently trading at 10107 and holding both support and psychological level at 10000.
Having said that it seems there are still some gas left in BTC             , means BTC             is expected to bounce back again from this level and trade between 10K and 12K for some time before turning back.

BCH looks pretty grim with “death cross” MA 40/MA 80, price at MA 80 level was rejected by market. BCH is currently trading at 1210, 1200 is a strong support level for BCH and also a physiological level.
This level is expected to hold BCH for some time and expect choppy market for BCH for next couple of days with price likely to move between 1200 and 1500 before BCH breaks down 1200.

ETH is currently trading at and above 100MA, above 800, which is also a support level . ETH is expected to hold this level for some time and likely to bounce back from here.

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