CAD/JPY – Short on trend

Forex CAD/JPY – D1 Technical Analysis Our expectations: Downward trend and short-term adjustment. Movement in the newly formed trend channel. The price reached the first resistance zone. This gives an aggressive input, with more conservative traders waiting to test the upper boundary of the channel, where there is also a strong resistance zone. Price action: […]

Morgan Stanley Short on CAD/JPY with SL: 85.15 and Target: 78.00

Morgan Stanley publishes its short-term recommendation on CAD/JPY. The bank advised a shortening of CAD to JPY from current levels with SL at 85.15 and 78.00. Morgan Stanley highlights the worsening US-Canada talks over NAFTA as well as weaker economic data Canada shows. JPY will continue to receive support while the US and China are […]

CAD/CHF It is possible to restore the downward movement

Our expectations: D1 short-term traffic and adjustment to support levels. Comment: The price corrected to support: 38.2% Fibonacci, up to a horizontal daily level. It reaches from the bottom up to 50 Linear Weighted MA, failing to break through it. The price closes below these levels, the small bodies of the previous bars and the […]

CAD / JPY Good levels for long positions

Our expectations: D1 The short-term downward trend may be over. SL: 81.250 Commentary: BOC’s next month is expected to raise the interest rate, which is positive for the Canadian dollar. A strong fundamental indicator is strong oil, and the Canadian dollar and oil are in a direct correlation. The long lower tails of the previous […]

USD / CAD reached dynamic Fibonacci levels

Our expectations: The long-term upward movement has reached dynamic resistance SL: 1.35200 Comment: The technical diamond figure, which set the rise of the upward weekly trend, was 100%. The price is very important for a diagonal monthly level that can be tested. The pair reached key resistances: Fibonacci’s 61.8% built on the previous monthly downward […]

A sudden change in moods among of Bank Of Canada members

Following Bank Of Canada’s report today, the increase in interest rates at the July meeting is becoming more and more likely scenario. According to Bloomberg, the probability of raising interest rates jumped to 78.5% from 52% before the bank’s report today. The really big step that Bank Of Canada has done today is to remove […]

Short term trading idea: CAD/JPY H4 Long

Our expectations: The short-term trend is sustained after a successful price test in a support zone formed by a major diagonal, 38.2% Fibonacci correction, Short-term horizon and 200SMA. I expect first test at the levels of about 23.6% Fibonacci correction, and in case of a break up, test at the peak of 22 May. Price […]

CAD/JPY – Long remain more likely, where is the best entry point

FX forecast / CAD/JPY / H4 Our expectations: The rise in stock markets led to a massive sale of JPY to major currencies, and the good outcome of the NAFTA talks supported the Canadian. CAD receives support for oil above $60 a barrel, as most Canadian companies earn at prices above $40. The short-term foundation […]

Decreasing tension around NAFTA will support CAD

Canada’s dollar is loving the suddenly hopeful Nafta tone coming from the U.S. “It looks like we might get a really good deal on Nafta” said White House Trade Adviser Peter Navarro. The sunny outlook helped take USD/CAD all the way to 1.2815 earlier today. There are large 1.2850 option strikes expiring Wednesday. Once they’re […]

Unique US Negotiations on NAFTA sent CAD to a new bottom

The Canadian dollar dropped sharply on Monday after US Trade Representative Robert Lighthiser said the time for agreement is on the way, and Canada and Mexico have not shown their intention to change the deal. Against this background and partly due to slower oil growth, the Canadian lost 3.1% from the beginning of the year. […]