www.varchev.com

CAD/JPY with bullish price action to continue uptrend.

Open trading account Home page
Post Views: 239

Technical Overview:

⬆⬇ Trend: Corrective trend

⬆ DeMarker: Reversing from oversold levels

⬆⬆ Sequential: Forming a “12” on a long downward count, initiating an upward count to 9

⬆ Price Action: Bullish pin bar confirmed by the following candlestick

⬆ Fibonacci: Rebound from the 38.2% FIBO level

This image has an empty alt attribute; its file name is CADJPY-1.png
This image has an empty alt attribute; its file name is CADJPY-2.png
This image has an empty alt attribute; its file name is CADJPY-3.png
This image has an empty alt attribute; its file name is CADJPY-4.png
This image has an empty alt attribute; its file name is CADJPY-5-1.png
This image has an empty alt attribute; its file name is CADJPY-6.png

Conclusion: I expect a breakout in the area of clustered orders and the horizontal resistance. If successful, the price is likely to aim for a breakout near the local top resistance, where the 23.6% FIBO level is located.

Alternative Scenario: In the event of a breakdown below the local bottom and the internal trend line support, the price will likely head towards a test of the zone around $103, where the 38.2% FIBO support and the external trend line support are found.

Fundamentals:

This image has an empty alt attribute; its file name is CADJPY-7.png
The banking consensus expects the price to reach around 107.1.
Open trading account Home page

Login to comment

Continue with Facebook
Continue with Google
* Rough, sarcastic and ironic language is not allowed. For such Admins Delete without notice.

Leave a Reply

Comments:

Leave a comment

Varchev Absolute Trader

борсова платформа

  • Търгувай над 3000 финансови инструмента: Crypto, Форекс, Акции, Индекси, Суровини, ETF-и
  • Използвай платформа с директно изпращане ордерите на борсите
  • Cloud base платформа - твоят трейдинг сетъп на всяко устройство
  • Market Sentiment - търгувай с настроенията на инвестиционите банки
  • Top movers - най-горещите трейдове във всеки един момент
  • Stocks scanner - филтрирай най-подходящите за твоя трейдинг стил пазарни инструменти
  • Heat map - Търгувай в посоката на големите играчи
Отвори трейдинг сметка Опитай на демо

Meta Trader 5

  • Търгувай Crypto, Форекс, Акции, Индекси, Суровини - всичко на едно място
  • Автоматизирана търговия с интелигентни стратегии и роботи (Expert Advisors)
  • Разширен технически анализ с хиляди индикатора и инструменти
  • Сигурност и стабилност – платформа, доверена от милиони по света
  • Нулев марджин при насрещни/хеджирани позиции
  • Без комисиона при търговия със CFDs
  • Светкавично изпълнение на сделките
Read more:
RECCOMEND WAS THIS POST USEFUL FOR YOU?
If you think, we can improve that section,
please comment. Your oppinion is imortant for us.
WARNING: Any news, opinions, research, data or other information contained within this website is provided as general market commentary and does not constitute investment or trading advice. Varchev Finance Ltd. expressly disclaims any liability for any lost principal or profits which may arise directly or indirectly from the use of or reliance on such information. Varchev Finance Ltd. may provide information, quotes, references and links to or from other sites and blogs and other sources of economic and market information as an educational service to its clients and prospects and does not endorse the opinions or recommendations of the sites, blogs or other sources of information.
Varchev Finance
chat with dealer
OPEN REAL ACCOUNT