If the price breaks below 0.723, I will short this to 0.713
The ascending channel that began with the June low at 1.2029 remains dominant, but if the pattern holds, sellers could pressure the pair to lower in the shorter term. Meanwhile bulls need a clear upside break of 1.282. A daily break below 1.26 could indicate further losses, and the potential target for sellers would be near the 1.25 level (Sept low).
A clear rejection of the trendline resistance would direct the sellers towards the supporting area around 117.
The pair has been trading within a descending channel, but entered a slight bearish consolidation phase after reaching support 1.027 (2019 March and August weekly low). The trendline is acting as a level of support and indicating a change of trend. A break above 1.035 could pave way to the next target 1.04-1.05 and beyond. This could be a good swing trade.
The pair could continue to edge lower within this session with a potential target around 0.87.
At time of writing, CADJPY is trading at 87.6. The price is moving within a channel however until the price either breaks above 88.0 or below 87.0, will confirm the bias for the pair. The price may rebound from the channel’s border and decline downwards. Or the price may break to the upside and re-target the 90.0 mark and beyond
What do you think? I expect EURUSD to fall further to the downside 1.167, before a possible trend change
This is just my idea, let me know what you think: SELL @0.916 TP 0.908 SL 0.21
This is just my idea, I will be looking into placing an order. Let me know what you think?
I am bearish on this trade, to continue to support 149.