CADJPY WEEK 37

CADJPY WEEK 37

11 September 2014, 00:04
Ronnie Mansolillo
0
154

Summery:

Primary Trend: Bearish (see last red dot)

Secondary Trend: Bullish (see last zigzag)

Resistance: 98,500 (FIBO 161.8)

Support: 96,200 (FIBO 100)

Comment: on previous bar price broke up FIBO 100 entering the overbought zone, and we see on last bar a continuation of up trend, with the possibility to see price testing resistance at FIBO 161.8

Suggestion: If currently you are long I suggest to close position on resistance level or on a turn back to support considering that actually primary trend is Bearish. If you don't have any position stay neutral and sell once price turns back from the overbought zone or breaks down FIBO 100.

Good Luck!


CADJPY 37

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