Let’s find out what has been moving the market today…
Tag - usd
What currencies to consider this week…
Fresh ideas
The pound is affected by Brexit uncertainty and may slide even lower.
On H4, we can see that the pair fixed below the line connecting the lows of April and May in the area of 1.1180.
There're bearish patterns such a 'High Wave' and a 'Harami', which both have been confirmed.
The trading action today will mostly be driven by the news and the sentiment…
USD/CAD met resistance in the 1.3490 area (resistance line connecting April and May highs).
Trade ideas for May 15
The US dollar strengthened versus the Chinese yuan as the trade deal between the United States and China met unexpected obstacles.
Trade on the news
GBP/USD formed a lower high just above 1.30 (psychological level, 50-week MA).