CADJPY Downtrend Intact

by Ashraf Laidi
Sep 10, 2009 10:56 | 26 Comments

CADJPY Downtrend Intact - Cadjpy Septe 10 (Chart 1)

CADJPY continues to show a generally predictable downtrend despite the noise from occasional waves of risk appetite. Such price action is similar to USDJPY, whose peaks have consistently respected the various falling trend lines. The trend line from the 90.23 high thru the 88.39 high held up earlier this week, paving the way for a preliminary target of 84.45 and a break of which (below 84.30) to open the path for 83.60. Any rebound remains capped at 85.80. USDCAD still expected to regain 1.09 and onto 1.1030.

 

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Comments (Showing latest 10 of 26) View All Comments
Ashraf Laidi
London, UK
Posts: 0
12 years ago
Oct 6, 2009 10:53
Abood AVG,, the story from the Independent about arab states and china is hurting the dollar. eurusd broke above 1.4660 resistance so next target 1.4770. do not double up. 1.45 remains viable as stocks seen struggling on earnings season. as i said in HOTCHART, AUDJPY is a BETTER short than AUDUSD.

Ashraf
14raj
Kolkata, India
Posts: 210
12 years ago
Oct 6, 2009 7:08
AVG,
the question is not towards me but just sharing my thought....EuroUsd is heading for 1.4770-1.4790 range where a pullback should occur.
regards,
rajib.
A_V_G
Singapore, Singapore
Posts: 38
12 years ago
Oct 6, 2009 2:52
Hi Ashraf,

I have short EUR/USD at 1.4606, expecting the EUR to go down. But now it has reached to 1.4680. Can u pls advice, where will EUR/USD go in the EUR trading hours. Can we expect it to go down. Pls suggest.

Regards,
AVG
Abood26
Damascus, Syria
Posted Anonymously
12 years ago
Oct 6, 2009 2:22
and do u advice me to sell AUD/USD
here and if yes where to close it thanks
Abood26
Damascus, Syria
Posted Anonymously
12 years ago
Oct 6, 2009 2:19
Ashraf I have sell eur/usd @1.4600 looking for 1.4550
do u think will hit it
my equity is 30k USD i Have only this postion
pls ur advice thanks
Ashraf Laidi
London, UK
Posts: 0
12 years ago
Oct 6, 2009 1:39
raj, a recording will be made available very soon. NZD looking for near term correction vs USD, JPY and CAD. technicals dont look good.

abood, oil resistance still at 72.30s and Im still bearish, nothing changed.


Ashraf
14raj
Kolkata, India
Posts: 210
12 years ago
Oct 5, 2009 22:46
Ashraf,
is it good time to go short in NZD/CAD at 0.7821?
regards,
rajib.
Abood26
Damascus, Syria
Posted Anonymously
12 years ago
Oct 5, 2009 18:41
Hello Ashraf do u think sell on oil here is good
14raj
Kolkata, India
Posts: 210
12 years ago
Oct 5, 2009 18:09
Ashraf,
I missed your webinar on saturday coz there was one festival in India on that very day. i am apologizing for my inability to join. Hope forum members got much valuable inputs for their trading arsenals.
regards,
Rajib.
Ashraf Laidi
London, UK
Posts: 0
12 years ago
Oct 5, 2009 17:30
abood, still see eurusd testing 1.4500 as market lacks confidence to close above 1.4670s. but more downside in EURJPY than in EURUSD.

Stone, yes, still see stronger YEN forward as i said in the webinar.

Ashraf