You can see a clear Bearish divergence, and a long red candle, which indicate that its time to short CAD, also JAPANESE YEN CURRENCY INDEX is down and CANADIAN DOLLAR CURRENCY INDEX is up.
we have got extended move to the upside, + we have even achieved 3x ADR + 3(psychological no.) pushes to the upside market makers have formed sweet M which tells we are going to mark down phase
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Trading suggestion:
". There is still a possibility of temporary retracement to the suggested resistance line (87.12).
if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. CADJPY is in a range bound, and the beginning of a downtrend is expected.
. The price is below the 21-Day WEMA, which acts as a...
Please show your support back,
Hit the 👍 LIKE button,
Drop some feedback below in the comment!
❤️ Your Support is very much 🙏 appreciated!❤️
💎 Want us to help you become a better Forex?
Now, It's your turn!
Be sure to leave a comment; let us know how you see this opportunity and forecast.
Trade well, ❤️
ForecastCity English Support Team ❤️
Trading suggestion:
". There is still a possibility of temporary retracement to the suggested resistance line (89.68).
if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. CADJPY is in a range bound, and the beginning of a downtrend is expected.
. The price is below the 21-Day WEMA, which acts as...
Sell @ 89.750 and stop loss @ 89.970
TP1-89.670
TP2-89.500
TP3-89.300
TP4-89.100
It's not advisable if you are taking a trade on behalf of this then use stop loss and proper money management.
If you like please drop a like for more trade like this
Hello guys i had find this setup in 1h timeframe which is facing resistance at upper trendline and making some bearish pattern we have a good opportunity with high RR ratio trade after it break our structure we will short with above resistance sl and near channel tg and plzz do your own analysis before taking any trade on my chart if you like my analysis plzz like...
Trading suggestion:
". There is still a possibility of temporary retracement to the suggested resistance line (90.90).
if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. CADJPY is in a range bound, and the beginning of a downtrend is expected.
. The price is above the 21-Day WEMA, which acts as...
The counter CADJPY is in the resistance trend line from 25thNovember which has been tested twice at the prices 80.49 and 80.25. Today the counter has made an entry at the price 80.25 and it started moving even more downwards. It’s the right time to go for a short and the bearish trend will continue further. The stochastic indicator curves started...
