I am looking for a buying opportunity at the monthly support on this pair.
Coming off of long volume trapped from Friday, i'm expecting some nice bounces off the 50 EMA and 200 EMA, possibly 800EMA if price wants to make a push. Overall i'll be scouting short positions, waiting for London Open.
This trade right here is a textbook short. The price level just bounced with decent rejection off of a long term, important price level, and with the weak attempt strength, its doubtful that this trade will be going higher than lower in the next week. I'm shorting to .98104, although I may get out sooner if I sense price turning around quicker than expected.
EURCAD has been moving in a wide channel since 2013 and its bottom channel (Turquoise line) has almost been reached now. Definitely a pair to watch for either a Bounce or a Breakout. If the bounce for trend continuation is confirmed, this should give us a niiiice movement potentially up to the upper channel. The pair moves quite slowly so this is probably a...
EURCAD has been moving in a wide channel since 2013 and its bottom channel (Turquoise line) has almost been reached now. Definitely a pair to watch for either a Bounce or a Breakout. If the bounce for trend continuation is confirmed, this should give us a niiiice movement potentially up to the upper channel. The pair moves quite slowly so this is probably a...
Long @ 1.30 LT HTF Support Zone + Previous swing low area Stop: below previous swing low Target: previous swing high around 1.32 (+4R potential)
price may break the trend line(1.70700), retrace and continue up or it may break key level, retrace and fall to monthly support (1.67600)
Price has retested and filled the gap from over the weekend. From Friday we can see trapped short sellers volume with expected rise for Monday. Enter when price hits the High of the Day (HOD) for about 16 pips just under the HOD from Thursdays session.
price is potentially bouncing off the channel reversal candle also formed meaning trend reversal (pullback on bigger scale) if price closes below channel i will enter short
Beautiful channel on the USDCAD. Great risk/reward ratio. (Due to current events, the dollar has been weakened, and the last move up was interrupted around 1.33870. If you believe that the dollar is going to keep moving south, you might not want to take this trade.)