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16/09/2015
Technical View: Following our previous short on Gold posted last week. We have seen some decent profit in the trade, although not hitting our full target price of $1090, we believe that profits should be banked at current levels and new longs initiated on the commodity. Ahead of the Federal Reserves meeting tomorrow, Gold has…
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27/08/2015
Technical View:
The Canadian Dollar has been under supreme pressure this year due to lower commodity prices, namely Gold and Oil.
The trend of global commodity prices is set to continue for the foreseeable future. Thus shorting CAD on any bounce is advisable.
The weekly chart broke a 3 year Head n Shoulders pattern at 92.50 and fell all the way to 87.50. We have now seen a healthy bounce to go back and retest resistance at 92.50. We believe that this should be shorted with a target of 85.00.
Trade:
Short CAD/JPY @ 92.50
Target 1: 90.00
Target 2: 85.00
Stop Loss: 93.50
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