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Forex: Results of the week

Jan 28 2019, 04:49 PM (+06) | OlympTrade.com

So, the week has come to the end. Let’s check the results of our Forex market analysis.

USD/MXN. We had expected the pair to rebound towards the 19.2994 (19.3000) level

Unfortunately, there was no rebound. The pair continued to consolidate at the 19.07 level, and there was a following downward movement below 19.00. At the moment, there is a probablity of a rebound and an upward movement, which lets us consider going long at the breakout level of 19.0770.

USD/CAD. We had expected the pair to grow to 1.3455.

The target has not been reached yet. However, there is still growth potential. Therefore, to open a long position, one needs to wait until the upward movement resumes, just like in the case mentioned above.

NZD/CHF, NZD/CAD

We recommended that you pay attention to these two currency pairs. We suggested shorting NZD/CHF with the decline target of 0.6764. The expected decline target on the NZD/CAD chart was the 0.9019 level.

The NZD/CHF chart reached the target. Moreover, the reversal of the currency pair brought it back to the level of 200MA, which is 0.6720.

The NZD/CAD pair also fully realized its potential of moving downwards. The chart reached the target at 0.9019.

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