EURJPY Moves Higher And USDCAD Breaks Demand

EURJPY has continued to rally as anticipated and there is still room to move higher if we see an engulf on the daily chart. The other pair showing opportunity at the moment is USDCAD. We’ve already seen PA indicating a short so I’ll be keeping a close eye on this one too.

EURJPY – Long

The level indicated in red is a barrier standing in the way of a move higher at the moment. If that area is engulfed then we’ll be on for longs. Beyond that level there are pure red candles so price could have an easy time getting through.

2015-02-15 EJ Long D1

USDCAD – Short

A daily demand level has been engulfed on USDCAD and below it are a number of green candles with no demand for a few hundred pips. This gives us an idea of the profit that might be available on a short and how easily price might fall through. This is a great one to watch at the moment.

2015-02-15 UC Short D1

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Detailed Analysis

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