Hello. Below are a few recommendations for trading in the Forex market on 5.02.2020
USDCAD
On a pair USDCAD price stayed at the level 1,33000 and formed a pattern Doji. Judging by the large number of sellers in the statistics of transactions should wait for a small correction, then another attempt to pass the level. But don’t rule out the possibility of a resumption of falling back to the district 1,30500. Purchase will look after the breakout of the level. Sale will look at lower time frames, if there are signs of reversal.
NZDUSD
On a pair NZDUSD formed the pattern of Absorption bounced off the support level 0,6448. Despite the broken trend line I will try to buy here. Because below a demonstrable pattern of Head and Shoulders, and we might not have finished the correction, to the broken line of the figure. A bit confused by the preponderance of buyers. And may see only a retracement to the trend line. But the way the prices are decent, and you can transfer the purchase to breakeven.
GBPJPY
On the GBPJPY once again failed to pass the support level 141,14 and formed a pattern of Rails. The price is squeezed into a triangle. And there remains only to wait for its borders. And then to make decisions on transactions.