CAD/JPY in a range for now
Diupdate
The consolidation in CAD/JPY reflects the volatility and circumstance in the oil market. Crude oil is nearly $50 as I write this post with the Fed’s easy money policy helping price along. Once the euphoria associated with this announcement subsides the reality of oil overproduction by Saudi Arabia and others, the weakness in global demand and the increased efficiency amongst the major consumers will drive prices lower. Perhaps to 20/barrel.
Price finding resistance in the vicinity of 92.25 opens an opportunity for the price to return to the bottom of the range and ultimately much lower.
sealionllc.com
Price finding resistance in the vicinity of 92.25 opens an opportunity for the price to return to the bottom of the range and ultimately much lower.
sealionllc.com
Komentar
Is the breakout for real? Price has retreated here to what was resistance and now support. Look at the 4-hr chart.
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