We saw the Price breaking downward the Upward channel on 4 H chart. Price is about to meet 200MA dynamic support and Fib 61.8. Price is an absolute uptrend due to interest rate differential between CAD and JPY central banks. We recently saw BOC increase interest rates 100 BPS and same dovish silence from BOJ. UKOIL above 103.5. Odds are in favor of CAD.
I am expecting price to go up from 200 MA and Fib 61.8 Level area highlighted in Rectangle box. Also on Extended 4 H chart Trendline support is expected to meet.
Do comment on the idea and share your views
I am expecting price to go up from 200 MA and Fib 61.8 Level area highlighted in Rectangle box. Also on Extended 4 H chart Trendline support is expected to meet.
Do comment on the idea and share your views