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Today will be released the CPI index of Canadian dollar and the expectation shows weakness, also the low price of crude oil the last days push CAD lower. In other hand forthcoming Monday is expecting to be released the Australian CPI index and expectation shows to be higher than previous month.
Forthcoming Economic indexes for the USA economy on the new week are coming to support USD(as they are expected to be positive for the USD). Instead of the weaker JPY as the night PMI index shows was weak.
Correction of the pair and long opportunity arrise
Low prices of Crude Oil push the Canadian Dollar low. In other hand the strong USD index of CPI and others economic indexes urge USD
The Central Bank of UK held the rate at the same interest. Correction for GBP after brexit
Long Trendline met H4 fibo 0.618. TP it is on 0.618 on weekly fibo
The price touch the 0.618 line and after following up trend due to a small channel. Perhaps to the next wave will break the line and the price will follow to 1.13140 and probably highest
the price touch the resistance of 61.8 of fibonacci twice. probably now it will go up to 1.3100 maybe highest.
Up to now the pair followed the channel. lets see if it will do again. As we see on stochastic the pair is oversold so it is possible to change
As the channel the pair should go short up to 1.2450. The stochastic is over 80 as well
it is going to 1.22 up to reach the long period line. if it breaks the line next target will be around the 1.18
Downtrend signal for GBPJPY after the high price of 195 yen