CN50 to turnaround?
CN50USD - 24h expiry
Price action has continued to trend strongly lower and has stalled at the previous support near 12400.
Momentum is flat, highlighting the lack of clear direction.
Price action looks to be forming a bottom.
Risk/Reward would be poor to call a buy from current levels.
A move through 12500 will confirm the bullish momentum.
The measured move target is 12600.
We look to Buy at 12400 (stop at 12340)
Our profit targets will be 12550 and 12600
Resistance: 12500 / 12600 / 12650
Support: 12400 / 12300 / 1250
Risk Disclaimer
The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy.
Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
Price action has continued to trend strongly lower and has stalled at the previous support near 12400.
Momentum is flat, highlighting the lack of clear direction.
Price action looks to be forming a bottom.
Risk/Reward would be poor to call a buy from current levels.
A move through 12500 will confirm the bullish momentum.
The measured move target is 12600.
We look to Buy at 12400 (stop at 12340)
Our profit targets will be 12550 and 12600
Resistance: 12500 / 12600 / 12650
Support: 12400 / 12300 / 1250
Risk Disclaimer
The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy.
Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
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