Trade idea for a cheerful market
CNY/JPY is a good proxy for traders’ optimism. The technical setup for it is also quite interesting.
USD/CAD is trying to resume uptrend
Trade idea
BUY 1.3230; TP1 1.3290; TP2 1.3330; SL 1.3200
USD/CAD found support at the 2018 trendline and the 50-week MA in the 1.3080 area. The following rebound brought it above the 200-day MA, the 100-day MA, and the December-January resistance line. It looks like higher levels are currently in focus. Watch for the 38.2% Fibo at 1.3290, 50-day MA at 1.3335 and 50% Fibo at 1.3368. The bulls will remain powerful as long as the pair is trading above the weekly pivot at 1.3150.
Elizabeth Belugina
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Trade idea for a cheerful market
CNY/JPY is a good proxy for traders’ optimism. The technical setup for it is also quite interesting.
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