We Told You So…
USDJPY – Has a great buy opportunity if it breaks the resistance formed around 113.90 with targets as 114.50 – 115 levels. If a break out happens it can take a few days to get there but the profit potential looks juicy.
USDZAR – We had noted this pair had potential to come down to the highlighted support level about 2 weeks ago and now we have arrived. It will now be a good opportunity to go long around these levels to push it back to 13.40460 for a retest of the break of that support breakage. Then we might actually go back short again from there!
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***Information contained in this news letter are gathered from third parties and should not be regarded in any way as trade advice or recommendations by CM Trading. CM Trading does not recommend or advise traders or investors in their decision making, but merely provides information from the market for its clients as additional information being made available as per the events occurring in the financial markets.
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Trading Foreign Exchange (Forex) and Contracts for Differences (CFD’s) is highly speculative, carries a high level of risk and may not be suitable for all investors. You may sustain a loss of some or all of your invested capital, therefore, you should not speculate with capital that you cannot afford to lose. You should be aware of all the risks associated with trading on margin.
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