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Three good trading setups after the BoE & ahead of CPI

Published 09/14/2017, 07:18 AM
EUR/GBP
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USD/CAD
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CAD/JPY
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Today the main event of the day will be CPI from US but the rate decision from the BoE also got some attention.


USDCAD ahead of the CPI is forming a bearish flag. This pair likes and uses trend continuation pattern so we should see a further drop, obviously if the CPI will allow us to do so.


EURGBP was pointing south even without the help of the BoE. We had a failed wedge false breakout, then a drop and a rectangle. The rectangle on the local support promoted the downswing and that what happened. Next support is on the 38,2% Fibonacci.


CADJPY is a good trading opportunity for the long-term traders. They can use here a massive inverse head and shoulder pattern and a positive swap points.

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