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    Cad/Chf – Buyers Looking To Rally To Last Month Highs|Influencer Forex Analysis•Jasper Njuguna

    Abstract:The price handle level of 0.69490 which for the has been a strong resistance level for the past approximately four weeks or thereabout, today has offered the market participants and in particular the buyers a broadway of least resistance as market speculators with one good green momentum thrust past the ceiling zone during yesterdays’ new york trading session.
    Jasper

      The price handle level of 0.69490 which for the has been a strong resistance level for the past approximately four weeks or thereabout, today has offered the market participants and in particular the buyers a broadway of least resistance as market speculators with one good green momentum thrust past the ceiling zone during yesterdays new york trading session.

      Bullish market participants had been angling for this kind of price action as you can view on the chart with an ascending wedge channel pattern and higher lows formation.

      A further bullish move is still expected as market participants look to test the high price handle level 0.70 which the market participants would want to take notice of since, this handle line has been the high level line for three trading months of July, August and September and probably may be for this trading month, speculatively as, it may hold as a strong supply order zone.

      With such a large move up yesterday, a probable good market buy or entry will be limit orders at or near the line breaks of the channel or previous highs.

      Of course, ones discretion and risk management is advised.

      4 Hour Chart;

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      Jasper Njuguna is a self-taught discretionary financial markets trader. With cumulative 5 years experience trading the markets and out of which, one and a half years of that as a prop trader, trading large and mid-cap American equities at one of the DAY TRADE THE WORLD offices.

      Prior to switching career interest to trading, I have 9 years of experience in senior management roles driving small to large business development and B2B relations in creating and implementing; learning & development solutions, programs, organizational strategies & frameworks, and blended learning approaches for companies and institutions in Africa.

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