Technical Analysis

Short-term technical outlook for USD/CAD and EUR/JPY

  • USD/CAD looks like a buy-dips proposition with .9980 my preferred entry level:
  • EUR/JPY remains bullish but overbought, so dip-buying is still sensible in absence of any topping formations.

I’ve updated these charts in the members section and also via Twitter.

  1. Good day sean,
    severely overbought and clear price momentum divergences on the daily and larger time frames.
    plus two dojis( or whatever other names for those unsure candles) formed over the past two days.
    would that not count as sound reason to enter short term shorts?
    once again, thank you in advance for ur efforts sean.much appreciated!!!

  2. Certainly Rahul and especially if weekly highs and l/t Fibonacci at 123.10 ish can hold firm. Maybe leave a floater up there, certainly excellent risk reward. Sorry never really got the whole candlesticks thing 🙁

  3. rahul, on which chart do you see the dojis? Not on my EURJPY nor USDJPY daily charts. Dojis are a supportive formation near significant support or resistance. The break of the end of the doji will be a signal to enter short or long.

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