Tickmill's Investing Diva, CADJPY Daily Outlook 27-02-20
CADJPY Daily Outlook - On Wednesday we found out that the US new home sales surge to 12.5-year high in January, U.S. crude dropped below $50 as the coronavirus spread in the Middle East and Europe, Fed’s Kaplan said it’s unclear right now if coronavirus calls for a U.S. rate change, and that it may be too early for the ECB to contemplate a coronavirus response.
On Thursday, we’ll keep an eye on the virus while awaiting the US GDP and durable goods orders.
Today I’m looking at the CAD/JPY pair which has just confirmed below the daily Ichimoku cloud.
The future cloud is a bit mixed at the moment but doors the pair has also formed a double top bearish reversal chart pattern which indicated we could see further drops towards 82.23 and 81.49 respectively at the very least.
Do you think the CAD/JPY will bounce back or continue down?
Head over to the comments section and let me know!
Disclaimer: The material provided is for information purposes only and should not be considered as investment advice. The views, information, or opinions expressed in the text belong solely to the author, and not to the author’s employer, organization, committee or other group or individual or company.
High Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% and 70% of retail investor accounts lose money when trading CFDs with Tickmill UK Ltd and Tickmill Europe Ltd respectively. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Disclaimer: The material provided is for information purposes only and should not be considered as investment advice. The views, information, or opinions expressed in the text belong solely to the author, and not to the author’s employer, organization, committee or other group or individual or company.
Past performance is not indicative of future results.
High Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% and 75% of retail investor accounts lose money when trading CFDs with Tickmill UK Ltd and Tickmill Europe Ltd respectively. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Futures and Options: Trading futures and options on margin carries a high degree of risk and may result in losses exceeding your initial investment. These products are not suitable for all investors. Ensure you fully understand the risks and take appropriate care to manage your risk.