CADJPY had a bullish day yesterday. The H4 chart suggests that the price might continue going towards the North by making new breakouts. The price produced a double bottom; made some bullish move. The price has been having a correction. If the price comes further down; produces an H4 bullish candle and makes an H1 breakout at yesterday’s higher high, then buying the pair would get us some green pips. Let us have a look at the summary of the trade…
The Super Forex Launcher Trend Reversal System
The level of 82.680 has become the level of resistance here. On the other hand, the level of 82.350 has the potential to be the level of support. If the price is held by the level of 82.350 and it ends up producing an H4 bullish engulfing candle, then an H1 breakout at the level of 82.680 would push the price to the level of 83.550 without having too many pauses. Let us have a look at the summary of the trade…
- Buy Stop Order: 82.686
- Stop Loss: 82.351
- Take Profit: 83.335
The NZD had a high impact news event today. The impact is extremely strong on all the NZD pairs. For intraday traders, NZD pairs would not be good pairs to trade today. Even H4 traders might as well have to wait for consolidation and breakouts. H4 traders should start eyeing on the NZD pairs and key levels whether those are held. I assume the NZD pairs might start offering entries from tomorrow for the H4 traders.
How I Became a Consistently Profitable Trader
Claim Your $60 No Deposit Bonus Here
All you need is to have your live account verified!
Of course, you need to open a live account...
2 Brokers that we like A LOT!
USD30 from each Forex Broker Below.
Both Forex Brokers have excellent rating!
We use both of these brokers and proudly promote them!
NOTE: Not all countries qualify for these bonuses. Terms and Condition Applies.Other Analysis Today