CADJPY is just above the bullish barrier on its 1D technical outlook (RSI = 58.297, MACD = 0.230, ADX = 26.548) despite the fact that it is near the HH trendline of the Ascending Triangle and supported at the same time by the 1D MA50. Technically this calls for a decline and the minimum inside this pattern is the 1D MA200 (TP = 109.350). If it crosses over the HH...
CADJPY is testing the 1D MA50 in the form of support on bearish 1D technicals (RSI = 42.279, MACD = -0.050, ADX = 56.167). A 1D candle close under the 1D MA50 signifies a validation of selling extension as after the rejection on R1, the long term support of the HL trendline broke.
We will sell this week's consolidation, which isn't just taking on the 1D MA50 but...
CADJPY hit today the top of the HH trendline that started the Channel Up at the start of the year. 1D is naturally on firm green level technically (RSI = 64.634, MACD = 1.030, ADX = 45.677) but the RSI has been trading on a flat Rectangle since May 18th. It is the same pattern that led to the February 18th High. Our trigger level to sell is the crossing under the...
