#CADJPY has recently entered the high liquidity zone marked in yellow, indicating a significant level of trading activity and interest from market participants. This movement aligns with the trend channel, suggesting a convergence that could potentially lead to a continuation of the current downtrend. Traders and investors are closely monitoring this development as the pair approaches a key support level around 102.50. The confluence of these technical factors indicates a strong possibility of further downside movement in the near future. It is essential for market participants to stay vigilant and consider the potential implications of this trend alignment on their trading strategies and risk management approaches.
#AUDCHF has recently made a significant move into a crucial convergence area, positioning itself at the upper boundary of the channel and a key supply zone. This strategic placement suggests a high probability of witnessing a continuation of the current bearish trend in the near future. Traders and investors are closely monitoring this development as it indicates a potential opportunity to capitalize on further selling pressure in the market. The anticipated target for this downward movement is set at .5400, a level that is likely to act as a significant support area. As market participants gear up for the expected price action, it is essential to keep a close eye on the evolving dynamics of #AUDCHF to make informed trading decisions and navigate the upcoming market fluctuations effectively.
Chris
Head Coach & Trader for over 30 years
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