Trading on the risk sentiment

Trading on the risk sentiment

Trade ideas

BUY 83.90; TP 84.50; SL 83.70

SELL 83.15; TP 82.70; SL 83.25

As a rule, when the price consolidates in a horizontal corridor, it’s possible to trade on the potential break of this range.

CAD/JPY is sensitive to the market sentiment: if risk appetite improves, the pair will rise, while if traders become risk-averse, the pair will fall. The pair has been consolidating between 83.85 and 83.20 for the second week in a row as the market keeps waiting for the news about the US-China trade deal and the Brexit delay. A break of this range will make the pair move by 60 pips or more. Notice that there are more support levels of the downside than resistance levels on the upside, so a break to the upside looks easier for the price.

cadjpy 8.png

Similar

GBP/USD: levels to trade

GBP/USD has been consolidating between 1.30 and 1.2770 for the past month. The pair met resistance at the resistance line connecting October and November highs.

XAU/USD: an attempt to recover

After forming a “hammer” candlestick on the D1 on Tuesday, XAU/USD rose to $1,467 and consolidated between this level and $1,461.

Latest news

GBP/USD: levels to trade

GBP/USD has been consolidating between 1.30 and 1.2770 for the past month. The pair met resistance at the resistance line connecting October and November highs.

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