Back to the Forex Alerts day's list
Alert - 14:15 (CET) - CadJpy
|
The CadJpy is trading at 85.82, ranging from 84.32 to 86.96. The current price is under yesterday's close at 86.99. Checking the hourly graphics, the 20- and 50-day Exponential Mobile Averages (EMA) are under the 200-day EMA.
The traders are watching the supports at 80.00 (key), 78.18 (October 31st low) and 70.97 (2008 low). The resistance are being watched at 91.04 (October 14th high), 94.14 (October 7th high) and 100.81 (September 30th high).
As we all know, the Japanese pairs tend to move on what happens in the stocks. However, the pair is also influenciated by the crude barrel price swings, as Canada exports oil. With the slight stock declines, the loonie wasn't able to save itself from the recent Yen strength.
Meanwhile, the 60-minute Relative Strenght Index (RSI) is at 50 points, after being very overbought. The average volatility per hour is 320 pips. Checking the graphics again, we see that the current price is under the 61.80% (90.79) and over the 100.00% (62.24) Fibonacci retracement lines.
|
|
ACM Advanced Currency Markets SA (hereinafter referred as ACM) is a professional financial intermediary, directly regulated by the Swiss Federal Department of Finance, Anti Money Laundering Control Authority. As forex specialist, ACM provides only currency and precious metals trading via highly professional forex trading software. All customers are aware that this information or any part thereof has been prepared without taking account of your objectives, financial situation and/or needs. This information is not intended as personalized investment advice and does not constitute a recommendation. It is not an offer or solicitation of any offer to purchase or sell any financial instrument. The analysis is based on the information which ACM finds reliable and accurate, but ACM does not assume any responsibility for any material nor for the transactions made on the basis of the information or the estimates of the analysis. ACM cannot guarantee that these forecasts will materialize and cannot be held liable in any way for direct, indirect and/or consequential loss arising from any use of this information, document or its content. All opinions and estimates constitute ACM analysis as of the data and are subject to change without notice. ACM does not warrant the accuracy or completeness of information contained herein, such information is subject to change and is not intended to influence your investment decisions. Past performance is not a reliable indicator of future performance.
|