15.01.202112:06 Forex Analysis & Reviews: Daily Video Analysis: CADJPY is facing bullish pressure, potential for a bounce!

Today we take a look at CADJPY. Combining advanced technical analysis methods such as Fibonacci confluence, correlation, market structure, oscillators and demand/supply zones, we identify high probability trading setups. CADJPY is facing bullish pressure, where we could see a potential bounce from our buy entry level towards our take profit level, which is in line with our horizontal swing high resistance. It is worth noting that the Stochastic indicator is also approaching the support level, which shows possible bullish momentum in line with our bullish bias.

*El análisis de mercado publicado aquí tiene la finalidad de incrementar su conocimiento, más no darle instrucciones para realizar una operación.

Dean Leo,
Experto Analítico
Grupo InstaForex © 2007-2021

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Daily Video Analysis: USDCAD approaching descending trendline, potential for reversal!

Today we take a look at USDCAD. Combining advanced technical analysis methods such as Fibonacci confluence, correlation, market structure, oscillators and demand/supply zones, we identify high probability trading setups. Price is facing bearish pressure as it continues to hold below the descending.

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USDCAD reacting below descending trendline resistance. A further drop below the key 61.8% Fibonacci retracement and 1st resistance at 1.25786 towards 1st support at 1.25471 could be possible. Stochastic indicator reacting below resistance as well. Trading Recommendation Entry: 1.25786 Reason for.

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