USDCAD Retesting 2021 High

The USDCAD is trying to firm following yesterday’s sharp intraday reversal lower, remaining within a day or so’s volatility from the 2021 high. Significantly, the USDCAD appears poised before year end, for an extension of the weekly chart upchannel to the psychologically key 1.30 whole figure level, which coincides with the 38.2% Fib retrace of the slide from the March 2020 high to the May 2021 low…

USDJPY Nearing Highest Level Since 2018

The USDJPY is in the advanced stages of a 2 week plus Bull Flag consolidation (on the daily and weekly chart), firming just below the 2021 high formed in mid October. Significantly, the USDJPY is bumping into the highest levels since 2018, with the widely anticipated US Non-Farm Payrolls (NFP) on Friday potentially being a catalyst for a Bull Flag extension towards the 2017 high…

USDCHF Retesting 61.8% Fib Retrace of Apr-Jun Slide

The USDCHF is trying to halt the consolidation since the beginning of the week, with a decisive rebound coming as early as today following the SNB’s Monetary Policy Assessment and rate announcement at 330am EST. Significantly, the USDCHF found support yesterday near the July and August highs and the 61.8% Fib retrace of the April to June slide, with any reclaiming before the weekend of last week’s high to trigger an extension of the upchannel (on the weekly chart) for next week…