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
ANALYST: AMUN SULED ➖ COMPANY: OCSI CAPITAL MANAGEMENT ➖
IMPORTANT INFORMATION:📌
- ORDER FLOW :
* LSB: breaker retest
* PROJECTED TP :
* PROJECTED SL:
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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...
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...
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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.
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The BoC rate statement is due out tomorrow and although we are not expecting the rates to change we are expecting the BoC to be slightly dovish in their speech. The oil price keeps falling and the data between this rate decision and the last has not really improved in fact unemployment got worse. I am expecting to see the USD stregthen against the Canadian in the...
Learn 2 trade FX like a pro - take the FREE course boafx.com - We spotted the pin bar within the channel last week and the analysis to break out completed yesturday - We now expect this to continue through to the previous high of 13350 and possibly 13450 in extension.
