FX:CADCHF [/symbol If you want to use this idea, please risk only one percent of your account balance.
Breakout to the upside is loading. I expect price to take out the liquidity above 1.39 zone. Targets as high as 1.40 tight stops below 1.3772. Use proper money management.
Short OANDA:CADJPY targets below 103.282. Stops above the 105.615. Technical break of structure, and bearish bias from cot data. Use proper money management.
WEEKLY --- Long term channel with two false breaks and divergence Daily -- False breaks, convergence principle, pull back 1 hour - - convergence, divergence 50% pull back
Our 4Hr chart shows a shallow downtrend since the start of August; since then the trend has been so shallow CADJPY has ultimately been consolidating. Looking for a breakut we will use our resistance as we are down-trending. Our Resistance line shows we are at the top testing our line for the 5th MAJOR time. With no avail to proceed past. We will use our 1000 Range...
Usually CADJPY has positive correlation with BrentOil (attach idea at the bottom) Sell 83.389 SL - 83.64 TP1 - 82.93 TP2 - 82.24 TP3 - 81.98 TP4 - 81.65 RRR - 1:6.6
Fundamentals:- After the Canadian data slipping for CPI last week the much gained CAD took a turn. WTI Light Crude which also links to the value of the CAD seems to be taking a bit of a down turn. With the US expected to continue on it's rate hike cycle then we should see this currency pair reverse and test previous resistance levels. Techncials:- After the head...
Watching the big picture, we are still on an uptrend on the weekly and daily time frame which makes me look for trend continuation opportunities. Currently price is at a very sweet spot while RSI approaching oversold levels. Great risk:reward if entered at market if conservative stops and targets are used as illustrated on the opened long position in the chart.
Fundamentals: - Mixed data from Canada last week with a tick up in unemployment and worse than expected employment change. However the rally in Oil did help the Canadian strengthen for a period of time last week. I don’t think the Canadian can maintain a positive rally, once the data starts to be absorbed by the market we should see this pair return to the upside...