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CAD/JPY traded slightly higher on Wednesday, after it hit support at 79.25 on Tuesday. The pair is now trading close to the 79.65 resistance barrier, but remains within the sideways range that’s been containing the price action since June 11th, between that barrier and the 78.10 support. As long as the pair is trading between these two hurdles, we would consider the short-term outlook to be neutral, despite the rate’s proximity to the upper end.
In order to start examining the bullish case, we would like to see a decisive break above 79.65. Such a move would confirm a forthcoming higher high and may pave the way towards the 80.45 zone, marked as resistance by the high of June 10th. If the bulls are not willing to stop there, then a break higher may allow extensions towards the peak of the day before, at around 81.15.
Taking a look at our short-term oscillators, we see that the RSI has recently exited its above-70 zone, but it turned up again, while the MACD, although somewhat flat, lies above both its zero and trigger lines. Both indicators suggest that the rate may have started gaining upside speed again, which increases the possibilities for a break above the upper end of the aforementioned range.
On the downside, a dip back below 79.25 could signal that traders want to keep this pair range-bound for a while more. We may then experience declines within the range, towards Monday’s low of 78.75, the break of which may open the path towards the low of July 10th, or the lower boundary of the range, at around 78.10.
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After the price dropped to the support level. Now I expect growth (bounce off the support line). Traders, if you liked this idea or have your opinion on it, write in the comments. I will be gladusdchf buy now @ 0.93875 sl 0.93678 like & follow and you will be notified by trading view when i post take profit. always enter trade with small volume $100 = 0.01 volume & maximum of 4 trades. we don't use indicators, we only forecast using price action which is 100% accurate so we normally don't know tp from the entry of the trade.
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again broke all Resistances and currently Trading in ATH direction. My first Selling outlook was invalidated and I engaged current one with extreme precaution, and since the Volume is extra small, I have no reason to close it. I will use it as an indicator when the downtrend is initiated, to add second set of Sells with strong Volume to Profit on a (by my...
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Today market trend is: ßearish ßuy
Market ki moving average aur indicators ko dekh kar market ke ßuy ke chance zyada hain
Resistance points and Support points bhi strong ßuy ke signal de rahe hain
Hamain apne ap par confidence rakh kar trading karni chahiye aur forex trading ke mutaliq knowledge and experience hasil karna chahiye
Agar ap forex trading main successful trader ban'na chahte hain to hardworking karen aur knowledge and experience hasil karen
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Today market trend is :sell
This pair is in a directionless consolidation, we can see that the price is gravitating heavily to the downside. It has repeatedly found support at the yet after every bounce it tends to return to this area, creating a pronounced bearish bias.so i recomand for sell today all support and resistence showing this trend
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Market analysis about trading
Today market trend = sell
Oscillator sales volume
Current price
And
Support points and resistance
market ke nechay janey k haq main hain
Sell ki trade profit de gi
Indicators ko follow karte hoye aur
apni samjh soch ke sath trading
Kren
