JamieHolmes
Long

Hidden Bullish Divergence CAD-JPY

FX:CADJPY   Canadian Dollar/Japanese Yen
195 2 2
Interest rate remained at 1% for Canada today, but the hawkish outlook and inflation picking up in the Canadian economy has led to higher price action for the CAD-JPY             . Also, the recent fall due to oil             prices led to CAD pairs being oversold. As the central bank looks forward, it is likely that Canada will be one of the first advanced economies to raise interest rates.

The oscillator indicators are making lower lows while the price action is making higher lows - known as hidden bullish divergence. This signals a continuation of the upward trend in the beginning of Autumn (August to mid-September). A crossover to the upside of the MACD would act as further confirmation of a formation of an upward trend.
MertErten
2 years ago
I do agree, but CAD index seems weak.
Reply
NizarRahalii
2 years ago
very nice analysis thank you
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out