Japanese Yen Strengthens on COVID-19 Worries
What happened? Japanese shares fell on Monday…
CAD/JPY rising inside impulse waves 3 and (3)
2019-11-11 • Updated
- CAD/JPY rising inside impulse waves 3 and (3)
- Next buy target - 89.70
CAD/JPY continues to rise inside the minor impulse wave 3, which belongs to the intermediate impulse wave (3) from the start of August (which started earlier from the support zone surrounding the support level 85.50, as can be seen from the daily CAD/JPY chart below). The active intermediate impulse sequence (3) itself belongs to the primary upward impulse ③ from the end of April. CAD/JPY is expected to rise to next buy target at the next resistance level 89.70 (top of the impulse wave (1)).
Similar
USD/CAD Short Trade
USDCAD began the week slightly higher reaching as high as 1.2510 but failed to sustain these gains.
Eyes on Bank of Canada's decision today
All eyes are headed toward the Bank of Canada today. Estimates point to no change both for the main rate and the ongoing QE which stands at $3B weekly.
Latest news
USD: Powell Speaks on Cutting Interest Rates
Jerome H. Powell, the Federal Reserve chair, stated that the central bank can afford to be patient in deciding when to cut interest rates, citing easing inflation and stable economic growth. Powell emphasized the Fed's independence from political influences, particularly relevant as the election season nears. The Fed had raised interest rates to 5.3 ...
WTT: Currency Pairs To Trade In April
Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
EURUSD: Seeking liquidity in weekly selling zones. Key intraday levels.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...
