Short term SHORT, Long term LONG
Updated
CJ is at an interesting point:
- potentially bouncing off the resistance area, waiting for more sings of weakness to take a quick SHORT back down to the recently broken daily trend-line, which would also be roughly 0.5 fib retracement from the last impulse
- after that, LONG up to the .382 fib extension, which happens to be aligning nicely around both a daily and a weekly zone / trend line
- RSI is fairly high on daily and 4H but not overbought
- moved away quite a bit from moving averages
- IF (a big IF) we see the Brexit saga go to an end this weekend, we will likely see risk-off flows out of JPY and starting to play around again, that could give us an additional push
- fundamentally, after encouraging CAD employment prints this week, buying interest might be increased on dips
Could be a start of a nice uptrend. Let's see.
- potentially bouncing off the resistance area, waiting for more sings of weakness to take a quick SHORT back down to the recently broken daily trend-line, which would also be roughly 0.5 fib retracement from the last impulse
- after that, LONG up to the .382 fib extension, which happens to be aligning nicely around both a daily and a weekly zone / trend line
- RSI is fairly high on daily and 4H but not overbought
- moved away quite a bit from moving averages
- IF (a big IF) we see the Brexit saga go to an end this weekend, we will likely see risk-off flows out of JPY and starting to play around again, that could give us an additional push
- fundamentally, after encouraging CAD employment prints this week, buying interest might be increased on dips
Could be a start of a nice uptrend. Let's see.
Trade closed: target reached
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