Maybe time? Maybe? Despite bad tariff news, volume remains low... consolidation? Or am I just too hopeful? Thoughts?
Tariffs
Trade Wars are Bearish for USDJPYA clear break below $108 support level which now becomes resistance targets the $100 support level. The selloff in US Treasuries and trade wars are bearish for the USD, combined with the risk-off environment that the tariffs rhetoric sparks off points to a bearish tone for USDJPY.
X breaking cloud and 100% level to test 105.5Title says a lot but I'll say a little more; double williams trader long entries on the 29D (1 moon cycle) and 7W (one of gann's cycles I watch near half a quarter in length)
Volume looks good as well
gl hf
xoxo
sn00p
CADUSD: Is this a bottom for the Canadian dollar?This level might be the bottom in this pair. Trump's tariff announcement might have created a negative enough sentiment to form a bottom here.
From Zerohedge: "Canadians have had a tough time of it recently: they are getting inundated with illegal immigrants (thanks to Trudeau's welcome) and not benefitting from the wholesale emigration north that so many liberals promised if Trump was elected; housing has become unaffordable due to Chinese hot money flows encouraged by the government; the Canadian energy industry is hosed because of US shale production-driven low prices; and now the US imposes trade tariffs on another of their biggest exports."
"The determination that Canada improperly subsidizes its exports is preliminary, and the Commerce Department will need to make a final decision. In addition, the U.S. International Trade Commission will need to find that the U.S. industry has suffered injury. But even a preliminary decision has immediate real-world consequences, by discouraging importers from buying lumber from Canada."
www.zerohedge.com
To me, as a contrarian, it sounds like a good opportunity, although the odds of the trade working are low, the payoff would be significant.
Good luck,
Ivan Labrie.
