Global recession continues

18 Mar 2020

CADJPY

Risk-off sentiment continues after consolidation and flag pattern formation.

We have got a breakout from flag pattern, which is strong sell signal together with current fundamental conditions.

USOIL is in strong downtrend due to traffic restrictions imposed by governments to fight coronavirus pandemic.
Global economic recession is following and flight from comdolls to save haven currencies.

20 Mar 2020

Not

The breakout turned out to be a fakeout. Flag pattern turned into rectangle pattern. Stop at 78.311 intact. Waiting for the real breakout or stop.

Fundamentals are staying the same.