CADJPY - A bigger outlook
CADJPY.
The upward movement can only be counted as a corrective pattern as ABC. This means a potential reversal is coming, but it seems like there's still more room left for upward momentum. The 200% fib level coincides with very strong resistance on the weekly and could signal a reversal sign from there. For the short/medium term, long positions can be preferred. Only when the trend channel breaks, there would be a confirmation for adding short positions.
The upward movement can only be counted as a corrective pattern as ABC. This means a potential reversal is coming, but it seems like there's still more room left for upward momentum. The 200% fib level coincides with very strong resistance on the weekly and could signal a reversal sign from there. For the short/medium term, long positions can be preferred. Only when the trend channel breaks, there would be a confirmation for adding short positions.
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Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.