CADJPY has been on a strong 1D Channel Up (RSI = 53.040, MACD = 0.280, Highs/Lows = 0.0000) since August, breaking above the 1W MA50 (blue line) but was eventually rejected near the 1W MA200 (orange line).
Looking back on the 1W chart this is a cycle that is repeated since 2006, with Death and Golden Cross formation marking it. At the moment the price is preparing an aggressive rise into a new consolidation zone (green Rectangle). This will most likely be marked by a Golden Cross. Our long term Target Zone is 89.000 - 91.500.
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Looking back on the 1W chart this is a cycle that is repeated since 2006, with Death and Golden Cross formation marking it. At the moment the price is preparing an aggressive rise into a new consolidation zone (green Rectangle). This will most likely be marked by a Golden Cross. Our long term Target Zone is 89.000 - 91.500.
** If you like our free content follow our profile (www.tradingview.com/u/InvestingScope) to get more daily ideas. **
Comments and likes are greatly appreciated.
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www.investingscope.com
Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial