Hello Fellow Global Forex Trader, Here's a Technical outlook for CADJPY!
Price Action Analysis
On the Daily Timeframe, CADJPY is moving below EMA200. Then, the Pair retested the previous neckline of the double-top and formed a rising wedge pattern, indicating a possible downside movement. The MACD Indicator made a death cross, signifying a potential downside movement to the target area.
On the H4 Timeframe, CADJPY also created a breakout of the double top pattern, confirming the bearish scenario ahead.
All other explanations are presented on the chart.
The roadmap will be invalid after reaching the target/ resistance area.
Support the channel by smashing the rocket button and sharing your opinions in the comment below!
"Disclaimer: The outlook is only for educational purposes, not a recommendation to put a long or short position on the CADJPY"
Price Action Analysis
On the Daily Timeframe, CADJPY is moving below EMA200. Then, the Pair retested the previous neckline of the double-top and formed a rising wedge pattern, indicating a possible downside movement. The MACD Indicator made a death cross, signifying a potential downside movement to the target area.
On the H4 Timeframe, CADJPY also created a breakout of the double top pattern, confirming the bearish scenario ahead.
All other explanations are presented on the chart.
The roadmap will be invalid after reaching the target/ resistance area.
Support the channel by smashing the rocket button and sharing your opinions in the comment below!
"Disclaimer: The outlook is only for educational purposes, not a recommendation to put a long or short position on the CADJPY"
註釋
註釋
Falling Wedge on JPYBASKET, Indication of Bearish Momentum for CADJPY交易結束：目標達成
Done Target 1, Second Target Here We go?交易結束：目標達成
Done Target 2, See ya in the next roadmap!
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