Canadian dollar was having poor start of the week, but today's increasing commodity price has helped it to gain some momentum. With respect to the Thanks giving week, the commodity data may still drive few more days to take CAD to LONG position. Please find the CADJPY 4HR chart analysis,
As the chart shows, the bullish reaction started with an engulfing green candle. Also this price range applicable to previous price action bottom also. Hence it highly likely to continue the bullish run and hit the 92.70.
Happy trading!
As the chart shows, the bullish reaction started with an engulfing green candle. Also this price range applicable to previous price action bottom also. Hence it highly likely to continue the bullish run and hit the 92.70.Happy trading!
