Join our telegram community
Telegram Facebook Twitter

Forex news

Analysis Team
June 9, 2021
0 comments
59 Views
  • CAD/JPY is supported near the 21-day EMA and bulls are in charge.
  • The BoC is a major risk for the pair as it consolidated the bullish trend.

The bulls are taking charge ahead of the Bank of Canada meeting today and there is the potential of a meaningful test of the critical daily resistance as follows:

DAILY CHART

If the resistance holds, then the downside will be vulnerable below the current support.

If, on the other hand, it gives out, then the bulls will be well in control and prospects for a fresh daily high will be on the cards.

15-min chart

With that all being said, the 15-min time frame is not bullish enough to bank on an upside correction just yet, not until the 21-EMA is broken and a subsequent break out of critical resistance:

Leave a Reply

Your email address will not be published. Required fields are marked *

About Us

Range Markets (SV) Ltd is incorporated in St. Vincent & the Grenadines as a Business Company with registration number 22768 BC 2015.

Facebook Linkedin

Policy

Trading Tools

Quick Link

rangeforex.com is owned & operated by Range Markets Ltd incorporated in St. Vincent & the Grenadines as an IBC with the registration number 22768 BC 2015. The objects of the Company are all subject matters not forbidden by Business Companies (Amendment and Consolidation) Act, Chapter 149 of the Revised Laws of Saint Vincent and Grenadines, 2009, in particular but not exclusively all commercial, financial, lending, borrowing, trading, service activities and the participation in other enterprises as well as to provide brokerage, training and managed account services in currencies, commodities, indexes, CFDs and leveraged financial instruments.

 

Range Markets Group of company operates and provides contents for this website, which include:

  • Range Markets (SV) Ltd, Company reg 22768 BC 2015 with registered address Euro House, Richmond Hill Road, Kingstown, St. Vincent, and The Grenadines.
  • Range Markets SA (PTY) Ltd, Company offers derivative instruments and long and short-term deposits to users in South Africa in its capacity as a Juristic Representative of TD Markets (Pty) Limited (Authorised FSP 49128), an authorised financial services provider in South Africa.

 

Risk Warning: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange, you should carefully consider your investment objectives, level of experience, and risk appetite. There is a possibility that you may sustain a loss of some or all of your investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

Copyright ©2024 Range Markets (SV) Ltd All rights reserved