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Rebound

CAD/JPY 1H Chart: Channel DownCAD/JPY 1H Chart: Channel Down The Canadian Dollar is depreciating against the Japanese Yen in weekly descending channel, which started to form shortly after the currency exchange rate left the double top formation. By the moment, the channel has two confirmation points from the top and three from the bottom. The latest rebound happened after the currency pair slipped to the weekly S2 at 87.43. Since the channel has reached maturity, the rate might leave the formation already by the end of the day. However, the fact that during this whole week the pair was sliding along the 55-hour SMA, which neutralized multiple attempts to break to the top, suggests that a new rebound most likely is going to follow. Nevertheless, a release of a bunch of the Canadian macroeconomic data at 12:30 GMT might alter the above scenario and even accelerate the fall of the rate.
by UnknownUnicorn890690
Philips Lighting: bulls are ready for take-off!The share price moves between a small range of levels. Nevertheless the indicators suggesting a new rebound of the bulls to at least 35 and maybe 37 euros within a few days or weeks. On Friday 21th July Philips Lighting presents its 2nd quarter earnings and this can lead to a new direction in the long term trend. Although the trend is your friend, we can see that the bulls are preparing a new attack, so get in on the short term for a longer period is an excellent idea. Take advantage of this setup!
EURONEXT:LIGHTLong
by beursfanaat
AUDNZD W1 - time to reverse?AUDNZD is in a interesting place on the chart. Third time in a row trend line drawn from last year’s lows was tested. In turn, looking on H4 chart, we have a large bullish candle followed by upward movement and yesterday a higher high was set at 1.0515. Currently, quotations are struggling with a dynamic support – 20-period SMA . If price manages to maintain level set by SMA , the rebound can lead to breakout yesterday’s high. Successful closure above yesterday’s maxima may indicate continuation of growth and then the nearest potential direction will be resistance around 1.0595.
Long
by Comparic
AUDNZD W1 - time to reverse?AUDNZD is in a interesting place on the chart. Third time in a row trend line drawn from last year’s lows was tested. In turn, looking on H4 chart, we have a large bullish candle followed by upward movement and yesterday a higher high was set at 1.0515. Currently, quotations are struggling with a dynamic support – 20-period SMA. If price manages to maintain level set by SMA, the rebound can lead to breakout yesterday’s high. Successful closure above yesterday’s maxima may indicate continuation of growth and then the nearest potential direction will be resistance around 1.0595.
Long
by Comparic