CADJPY - Bearish Bias
CAD - BEARISH
1️⃣ Oil prices sank more than 5% on Tuesday, with WTI crude trading below $60 a barrel and Brent about $62.7 a barrel amid escalating worries that the third wave of COVID-19 cases in some countries in Europe and slow vaccine rollouts in the continent will hurt a recovery in fuel demand.
JPY - BULLISH
1️⃣ A string of renewed coronavirus restrictions in Europe boosted a safe-haven bid.
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Technical
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We are looking to sell the CADJPY at SBR + below SMA 50 on the H1 chart.
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Risk to this trade
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Any change in sentiment could turn the pair's direction.
1️⃣ Oil prices sank more than 5% on Tuesday, with WTI crude trading below $60 a barrel and Brent about $62.7 a barrel amid escalating worries that the third wave of COVID-19 cases in some countries in Europe and slow vaccine rollouts in the continent will hurt a recovery in fuel demand.
JPY - BULLISH
1️⃣ A string of renewed coronavirus restrictions in Europe boosted a safe-haven bid.
=====
Technical
=====
We are looking to sell the CADJPY at SBR + below SMA 50 on the H1 chart.
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Risk to this trade
=====
Any change in sentiment could turn the pair's direction.
Trade active
PENDING ORDER TRIGGEREDTrade closed: stop reached
❌ TRADE HAS HIT STOP LOSS-30 PIPS
The Canadian dollar pushed higher amid rebound in oil prices supporting the currency with WTI surged above $59 per barrel.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.