logo |

News

    Home   >     Original    >     Main body

    Aud/Cad – Structure Pivoting At A Strong Supply Zone|Influencer Forex Analysis•Jasper Njuguna

    Abstract:The weekly 200 moving average is acting as a dynamic resistance band as price action really tries to peg and coil around that zone and market speculators are finding themselves in a familiar strong supply zone order block area between price level handles of 0.96 and 0.97. There has not been a concentrated bullish thrust move by buyers even in between this supply zone nor let alone past it.
    Jasper

      The weekly 200 moving average is acting as a dynamic resistance band as price action really tries to peg and coil around that zone and market speculators are finding themselves in a familiar strong supply zone order block area between price level handles of 0.96 and 0.97. There has not been a concentrated bullish thrust move by buyers even in between this supply zone nor let alone past it.

      The last week trading session closing candle closed opened and closed below the 200 M.A and any risk of negative sentiment against the euro or coming out from the larger euro block will see a greater decline and sell-off of the euro currency against the Canadian dollar and to an extent further exposing the fresh support handle zone level of 0.94 for retest and a potential down breach.

      If the latter price action scenario plays out, most likely hood is that market participants may be targeting to retest too, the 0.93 price handle level

      Weekly Chart;

    圖片.png

      2 Day Chart;

    圖片.png

      Of course, ones discretion and risk management is advised.

      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.

    圖片.png

      WikiFX, a third-party forex broker inquiry platform, has collected

      the information of 19,000+ forex brokers, 30 regulators, and helped

      victims recover over 300,000,000.00 USD. WikiFX App provides functions

      like forex brokers inquiry, calender, forex news express, calculator and

      other trading tools to help you get trading done with ease.

      Forex brokers inquiry: in order to create a safe forex trading

      environment, WikiFX offers you two methods of checking the compliance of

      forex brokers, online checking and offline investigation report. WikiFX

      has an independent inspection team, conducting on-spot visit to brokers

      offices to identify they are trustworthy or not.

      Forex calender: the financial events which may affect forex trading

      Forex news express: providing you the latest info anytime and anywhere

      Forex forum: tons of posts by WikiFX users, containing technical

      analysis, industry discussion, fraud brokers exposure; Users can

      exchange their thoughts here freely.

    United States Dollar

    • United Arab Emirates Dirham
    • Australia Dollar
    • Canadian Dollar
    • Swiss Franc
    • Chinese Yuan
    • Danish Krone
    • Euro
    • British Pound
    • Hong Kong Dollar
    • Hungarian Forint
    • Japanese Yen
    • South Korean Won
    • Mexican Peso
    • Malaysian Ringgit
    • Norwegian Krone
    • New Zealand Dollar
    • Polish Zloty
    • Russian Ruble
    • Saudi Arabian Riyal
    • Swedish Krona
    • Singapore Dollar
    • Thai Baht
    • Turkish Lira
    • United States Dollar
    • South African Rand

    United States Dollar

    • United Arab Emirates Dirham
    • Australia Dollar
    • Canadian Dollar
    • Swiss Franc
    • Chinese Yuan
    • Danish Krone
    • Euro
    • British Pound
    • Hong Kong Dollar
    • Hungarian Forint
    • Japanese Yen
    • South Korean Won
    • Mexican Peso
    • Malaysian Ringgit
    • Norwegian Krone
    • New Zealand Dollar
    • Polish Zloty
    • Russian Ruble
    • Saudi Arabian Riyal
    • Swedish Krona
    • Singapore Dollar
    • Thai Baht
    • Turkish Lira
    • United States Dollar
    • South African Rand
    Current Rate  :
    --
    Amount
    United States Dollar
    Available
    -- United States Dollar
    Risk Warning

    The Database of WikiFX comes from the official regulatory authorities , such as the FCA, ASIC, etc. The published content is also based on fairness, objectivity and fact. WikiFX doesn't ask for PR fees, advertising fees, ranking fees, data cleaning fees and other illogical fees. WikiFX will do its utmost to maintain the consistency and synchronization of database with authoritative data sources such as regulatory authorities, but does not guarantee the data to be up to date consistently.

    Given the complexity of forex industry, some brokers are issued legal licenses by cheating regulation institutes. If the data published by WikiFX are not in accordance with the fact, please click "Complaints "and "Correction" to inform us. We will check immediately and release the results.

    Foreign exchange, precious metals and over-the-counter (OTC) contracts are leveraged products, which have high risks and may lead to losses of your investment principal. Please invest rationally.

    Special Note, the content of the Wikifx site is for information purposes only and should not be construed as investment advice. The Forex broker is chosen by the client. The client understands and takes into account all risks arising with Forex trading is not relevant with WikiFX, the client should bear full responsibility for their consequences.