Entered a sell position for CAD/JPY at 110.42.
Stop loss is set at 111.12.
The Bank of Canada implemented a significant 0.50% rate cut as expected, prompting selling of the Canadian dollar. CAD/JPY was chosen due to technical factors favoring short positions in cross-yen pairs.
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Focus Currency and Technical Analysis (1-Hour Chart): November 21, 2024 EUR/USD: Sell Current Situation: Consolidating around 1.0550. Market is in stagnation due to mixed economic
Today’s Options EUR/USD (Euro/US Dollar): Amount in Euros 1.0470: 1.1 billion Euros 1.0500: 2.8 billion Euros 1.0515: 1.9 billion Euros 1.0540: 907 million Euros 1.0550:
Dollar Trend: Continuation of Dollar Strength with Signs of Stagnation and Temporary Risk Aversion Dollar Market Overview: Strong but Stagnant Momentum The dollar continues its