Short term SHORT, Long term LONG
CJ is at an interesting point:
- potentially bouncing off the resistance area, waiting for more sings of weakness to take a quick SHORT back down to the recently broken daily trend-line, which would also be roughly 0.5 fib retracement from the last impulse
- after that, LONG up to the .382 fib extension, which happens to be aligning nicely around both a daily and a weekly zone / trend line
- RSI is fairly high on daily and 4H but not overbought
- moved away quite a bit from moving averages
- IF (a big IF) we see the Brexit saga go to an end this weekend, we will likely see risk-off flows out of JPY and starting to play around again, that could give us an additional push
- fundamentally, after encouraging CAD employment prints this week, buying interest might be increased on dips
Could be a start of a nice uptrend. Let's see.
- potentially bouncing off the resistance area, waiting for more sings of weakness to take a quick SHORT back down to the recently broken daily trend-line, which would also be roughly 0.5 fib retracement from the last impulse
- after that, LONG up to the .382 fib extension, which happens to be aligning nicely around both a daily and a weekly zone / trend line
- RSI is fairly high on daily and 4H but not overbought
- moved away quite a bit from moving averages
- IF (a big IF) we see the Brexit saga go to an end this weekend, we will likely see risk-off flows out of JPY and starting to play around again, that could give us an additional push
- fundamentally, after encouraging CAD employment prints this week, buying interest might be increased on dips
Could be a start of a nice uptrend. Let's see.
Trade closed: target reached
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.