CANADIAN DOLLAR FORECAST OVERVIEW:The Canadian Dollar has seemingly been held back in the past week or two, amid concerns that its largest trading partner – the United States – isn’t nearing a return to normal economic activity. 20% of Canadian GDP is derived from economic activities with
Trading suggestion: . There is a possibility of temporary retracement to suggested support line (78.5). 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 uptrend
Price has retested this support zone many times, I think at this point it will fall and break it. opening a sell position with resemble stop loss will give you a high risk to reward ratio. dont forget to apply proper risk management.
Canadian Dollar Clawing for More Gains
Even as energy markets continue to slowly but surely drift higher, yet the occasional bout of volatility on virus- or trade-related headlines circulating around the United States has held back the Canadian Dollar has in recent days.
Yet with a risk environment
The Japanese Yen has traded sideways in wide range over the last several weeks judging by the JXY Index. On the surface, this appears owed to a recent consolidation in spot USD/JPY even as the US Dollar implodes. Looking beyond USD/JPY performance, however, a narrative underscoring broader
Canadian Dollar Forecast Overview:The Canadian Dollar’s gains have slowed relative to other major currencies in recent weeks, against all but two of the majors: the Japanese Yen and US Dollar. Now, both CAD/JPY and USD/CAD rates are positioned for breakou
Hello Traders, The Bias on this pair is forming bearish trend , however, I would wait for the price to test the zones as the last attempt for evidence that the buyer is off and the recent resistance is solid. Before taking this idea please mind your core principles of your