I am glad to welcome you, dear colleagues, to the vastness of the Investing project. Today is another forecast for the likely movement of currency instruments: EUR / USD, USD / CAD, GBP / JPY, USD Index & NZD / USD using the sales / purchase zones.
1. The trading instrument is in a downtrend medium-term trend, and the price has already come as close as possible to the support level in the area of 1.0794, from where it is already very likely that the correctional growth will begin, at least to the sales zone, characterized by the intersection of three resistance lines (see video) at 1.0920. Based on the foregoing, we are looking for patterns to buy from 1.0794 with a target level of 1.0920.
2. For everything, it’s quite simple, you can even say it is corny. The price is at the resistance level of 1.3344, and its closest target level is 1.3266. In general, the Canadian is still prone to falling and testing a strategically important level at around 1.3070, so sales of this tool are most preferable.
3. is still prone to fall, and the fall is most likely to continue to the target level of 135.60. Therefore, the forecast for today is as follows: entry into short positions from the sale (resistance) zone in the region of 139.42 with a target at 135.60.
4. At the moment, breaks through all possible levels and support areas and is heading for the strong support level 97.12. It is worth saying that its movement can be stopped at any time by a “bullish” correction, which will lead the trading instrument to rise to the sales (resistance) zone of 98.40, from where the fall to the target will again resume on 97.12.
5. This trading tool has not been featured in our forecasts for a long time. And everything is quite simple. Its permanent strong decline leaves no chance to enter the market, not even the continuation of the movement, since the corrections often do not reach the previous minimum values or the trend line – the resistance line. However, we will try, dear friends, to enter by a possible upward correction from the support level of 0.6200 with a target benchmark at the level of 0.6250 / 60.
And that's all for today. Thank you, dear colleagues, for your attention. Subscribe to the publications of the Investing project and to my modest figure so as not to miss anything. And remember: "One forecast is good, and five is even better."
Use of sales / purchase zones in forecasts for EUR / USD, USD / CAD, GBP / JPY, etc.
Forex Forecasts 03.03.2020 for EUR / USD, USD / CAD, GBP / JPY, USD Index & NZD / USD.