Get started

CAD

CADJPY POSSIBLE REVERSAL IN PLAY?Earlier I posted a CADJPY target for a SHORT, which did not meet its target. At this point, price has broken ABOVE and closed hourly above the downward channel resistance. With observance of a bullish divergence in RSI with price, a loss in selling momentum is seen. The CAD has depreciated the most in the past weeks, and is heavily oversold. Also, the JPY has appreciated the most in the past week, and is heavily overbought. These may not mean much to those who say oversold conditions can become more oversold, but what I'm trying to re-iterate at is in these conditions, there will be countless positions to be squeezed out, and fast, if positions were to unwind. Take note of this breakout and watch closely for opportunities, this may be a good time to consider a short term LONG, and setting stops below the downward channel's resistance in case the pair moves back into the channel.
Long
by Jeuvici
Special Analysis towards blitz of eventsWeekly Harmonic pattern completion near 1.54,,, But will USDCAD continue to rally straight into the PRZ, or will it pull back to weekly support near 1.3 before the next bullish move? The 78.6 Fib level is usually a reversal level and it can be the one that will stop USDCAD's advance towards the 88.6 Fib level. The interesting scenario here is the weekly bearish Gartley that was formed on the RSI indicator in oversold territory Expecting high volatility today! Follow me on TradingView Visit my blog - goo.gl Subscribe to the newsletters - goo.gl
Short
by themarketzone