themarketzone

Moving towards bearish Crab's PRZ

FX:USDCAD   U.S. Dollar/Canadian Dollar
$USDCAD is slowly but surely grinding its way up towards the Crab pattern's PRZ.
Despite intraday up and down swings, $USDJPY             managed to stay above its Fast SMA line and maintain its trend.

Two bearish scenarios for $USDCAD:
1. Completion of Crab pattern near 1.34-1.35 (see risks and potential rewards in the chart)
2. Breakdown of the Fast SMA line could lead to quick pullback (possibly towards 50 SMA line)

This analysis is part of the Weekly Markets Analysis newsletters
To read more interesting technical reviews - http://goo.gl/8A6fTH

To subscribe to the newsletters - http://goo.gl/HXjCPV

As USD continues to advance, USD is now less than 100 pips from PRZ.
Reply
themarketzone PRO themarketzone
Does U.S dollar have power for one more bullish run?
Reply
This week's newsletters continue to monitor $USDCAD as it continues to stay above the SMA line and probably will reach Crab's PRZ on FOMC week - http://goo.gl/4z09V2
Reply
IvanLabrie PRO themarketzone
Same view, looking to short the very top if possible. I think it might be interesting to short GBPCAD as well.
Reply
Seems like we're heading to that PRZ after all.
Reply
It is getting there. I just wrote in my newsletters that I expect an explosive move following the kind of price action we currently see on $USDCAD. I think that we will see a bullish spike, cleaning all stop losses that wait above 1.34-1.35 and then we'll get the reversal.
Reply
I am a daily Trader so... I have to take higher time fr.
Reply
Focus on 1.2 than.. My opinion
Reply
Hi what you think about this. We should sell...?https://www.tradingview.com/x/rZxDziOo/
Reply
FXROB FXROB
sorry ab.
snapshot
+1 Reply
United States
United Kingdom
India
Deutschland
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
中国
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Priority Support Ideas Published Followers Following Private Messages Chat Sign Out