JP Morgan on what to watch for USD/CAD to 1.20 ahead

JP Morgan on USD/CAD, this comes via eFX.  For bank trade ideas, check out eFX Plus. "In our view a sustained move below 1.24 puts bears firmly in control and sets the market up for an eventual retest of the 1.2047 Aug 2011 50% retrace, 1.206 Sep 2017 low, and 1.20 Jun 2021 cycle trough"  "The 50-day MA now marks tactical resistance. Jul, Aug, and Sep saw blow-off type highs fail below the 1.2782-1.2993 price lows that defined the longer-term 2019-2020 bearish reversal pattern. We continue to view that threshold as a key area on the chart"  Invest in yourself. See our forex education hub.

JP Morgan on what to watch for USD/CAD to 1.20 ahead

JP Morgan on USD/CAD, this comes via eFX. 

For bank trade ideas, check out eFX Plus.

  • "In our view a sustained move below 1.24 puts bears firmly in control and sets the market up for an eventual retest of the 1.2047 Aug 2011 50% retrace, 1.206 Sep 2017 low, and 1.20 Jun 2021 cycle trough" 
  • "The 50-day MA now marks tactical resistance. Jul, Aug, and Sep saw blow-off type highs fail below the 1.2782-1.2993 price lows that defined the longer-term 2019-2020 bearish reversal pattern. We continue to view that threshold as a key area on the chart" 

Invest in yourself. See our forex education hub.