Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 62.5% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
AUDCAD has a valid trendline since the beginning of the month, price manage to form a double top formation and hit the first target at 0.91906 which is a support level this incident also gives more validity to this level.
Now the price is at a very important level, traders should be careful because if the price manages to break this strong level, we may see the price fall around the 0.91255 level.
If the price does not break this level and this recent decline was just a correction of the overall trend, we may see the price accelerate to the 161.8 fibo level.
GBPUSD for has a valid uptrend since 9 of november, now price starts to loose momentum,
With this scenario we may see the price drop until 1.15873.
If the price fail to break below that level we may see the price going further up.
USDJPY is trading in ranges, ranging between 142.199 and 131.140.
Now the price is retesting the intermediate level which is 137.779.
With this kind of behavior we may see the price drop back down to around 131.140.
If the price breaks above the mid-level, we may see the price rise further up to the 142.199 level.
Online Chat Chat with us
Copyright © 2023 - All rights reserved.
SohoMarkets (Cyprus) is a Trade name of Vstar & Soho Markets Ltd which is registered as a Cyprus Investment Firm (CIF) and licensed by the Cyprus Securities and Exchange Commission (CySEC) under licence number 409/22.
Vstar & Soho Markets Ltd. provides services to residents of the European Economic Area (excluding Belgium), Switzerland, India, Indonesia, Malaysia, Philippines and Vietnam.