Bullish bias on Brent (UK Oil), USD/CAD in descending triangle, trading short CAD/JPY [Video]

Brad Alexander FX Large Limited

Yesterday we determined that CAD and USD were both weak currencies and it can be difficult to trade a pair with the same bias.

However, we may have an opportunity tomorrow with lots of economic news coming out of Ottawa, including an Interest Rate decision and press conference.

For example, the news may break this line of resistance or it may drive price action back up to this upper trend line.

If we add other indicators like the Parabolic SAR and MACD, we see a bearish bias but wait for confirmation before you enter a position.

Right now, we have an opportunity on CADJPY.

Price action has just bounced off this upper trend line and the stochastic oscillator has turned down from overbought.

Another option is AUDCAD.

If the news drives price action lower temporarily, into the lower trend line, we may have a buy trade opportunity.

An overview of AUD pairs proves to us that it is definitely a strong currency right now.

We see a pullback from the downtrend on Brent Crude but prudent traders may want to wait for a selling opportunity.

We will wait to see if price action reaches the upper trend line and our indicators like MACD turn bearish.

And finally, we see an ascending triangle on the Russell 2000 Index so we will watch for a break of resistance or a pullback to this lower trend line.

Author

Brad Alexander

FX Large Limited

Brad became fascinated with the Currency Markets from a young age and researched fundamental analysis.

EUR/USD softens below 1.1800 on Fed hawkish remarks

The EUR/USD pair edges lower to around 1.1775 during the early Asian session on Wednesday, pressured by a renewed US Dollar demand. Traders await the US President Donald Trump's State of the Union address later on Wednesday for clarity on fiscal policies.

GBP/USD regains 1.3500 and above

GBP/USD extends its advance for the third day in a row on Tuesday, this time retesting the area beyond the 1.3500 hurdle. Cable’s uptick comes despite decent gains in the Greenback and the dovish message from the BoE’s Bailey at the UK Parliament.

Gold bounces back above $5,150 ahead Trump's State of the Union speech

Gold finds fresh demand and regains the $5,150 level following the previous day's pullback from the monthly peak as traders await Trump's State of the Union address. In the meantime, trade-related uncertainties and geopolitical risks seem to act as a tailwind for the safe-haven bullion.

Hyperliquid registers mild gains following CoinShares' ETP launch

Hyperliquid registered a 3% gain on Tuesday after CoinShares announced the launch of its Physical Hyperliquid Staking exchange-traded product, offering investors exposure to the token's price and staking yields.

The Citrini report: How a debatable AI narrative can shake Wall Street

That AI-related headline alone was enough to rattle investors.US stocks slid sharply on Monday after a widely circulated Citrini Research memo outlined a hypothetical “2028 Global Intelligence Crisis”, warning that rapid AI adoption could push US unemployment into double digits as early as by mid-2028.

XRP pressured by weak ETF flows and declining retail interest

Ripple (XRP) is edging lower, trading above its intraday low of $1.32 at the time of writing on Tuesday. The decline from its weekly opening of $1.39 reflects heightened volatility in the broader cryptocurrency market, accentuated by tariff-triggered uncertainty.