Now we are in a downward dynamic channel where the price has shown weakness near the middle line of the channel. I predict that probably this weakness has the ability to reduce the price until near the bottom of the channel. Oscillators also confirm this weakness, and this means reducing the market's tendency to increase the price.
Looking back over this pair, it's been ranging for a long time. The candlestick patterns are clearly showing rejection, we now have a doji to back up the change of direction potential. Fundamentally it seems hat it doesn't matter how good the US news is, the dollar's fate is sealed. Interesting to see how NFP goes on Friday (but still can't see it getting much...
🍁 USD/CAD Attention We're Falling 🍁 Nearest strong support zone: around 1.337, 0.382 fibo level of the entire upward wave. 🍁 Nearest strong resistance zone: around 1.36, 0.236 fibo level of the entire upward wave. 🍁 Technical environment: - Moving averages: Downtrend - MACD: Downtrend - RSI: Downtrend 🍁 Price action: USD/CAD for the past month has not found...
🍁USD/CAD Continuation of Declines 🍁 Nearest strong support zone: around the fibo level of the 0.618 wave from the bottom to the local peak. 🍁 Nearest strong resistance zone: around the 0.382 level of the same wave. 🍁 Technical environment: - Moving averages: Downtrend - MACD: Downtrend - RSI: Downtrend 🍁 Price action: after yesterday's price rise near the...
🍁USD/CAD Ready For A Breakout 🍁Looking at the strength with which the USD/CAD took off upwards today. 🍁I get the impression that there is a good chance that this is just the beginning of a new upward wave on this pair. 🍁Looking at the 1D interval (lower right corner) We can see that we have approached the vicinity of a strong resistance zone determined by the...
On the M30 time frame, a throwback to the support zone at 1.35750, in line with the 23.6% Fibonacci retracement level could see a bounce to the resistance target at 1.36350. Failure to hold above the support zone at 1.35750 could see further downside to the next support zone at 1.35380. Prices are approaching the lower bound of the Bollinger Bands while...
🍁USD/CAD Struggles To Rise 🍁It looks like the USD/CAD is still struggling to continue its gains 🍁I already thought that we would start a new strong downward impulse, but then today there was a strong upward breakout. 🍁It looks like the momentum that has been established may result in a renewed attack on the strong resistance zone set based on the vicinity of...
🍁USD/CAD refuses to fall 🍁Looking at the behaviour of the USD/CAD in recent weeks, it seems that we have fallen into accumulation but do not have the strength for declines. 🍁My stance on USD/CAD remains unchanged, I still believe that at the current juncture increases are much more likely than decreases. 🍁Looking at the technical situation, the fact that we...
🍁USD/CAD Ready For New Local Highs 🍁As I wrote yesterday I expect the upward movement to continue: 🍁There was a beautiful realisation of my upward scenario today. 🍁We found local resistance at 0.618 of the entire downward wave. 🍁Looking at another attempt to break through this level and the dynamics of the candles the breakthrough looks very...
🍁USD/CAD Not Giving Up 🍁The scenario since my last post remains unchanged: 🍁Looking at the behaviour of the USD/CAD price in recent days. 🍁We could call it indecisiveness mixed with a desire to continue upwards. 🍁Following yesterday's 50 basis point interest rate hike in the US, investors in the market resumed the strengthening of the US dollar. 🍁Given that...
USDCAD - Intraday - We look to Sell at 1.3600 (stop at 1.3700) Previous support located at 1.3500. Previous resistance located at 1.3600. Broken out of the triangle formation to the downside. Risk/Reward would be poor to call a sell from current levels. Our profit targets will be 1.3400 and 1.3350 Resistance: 1.3600 / 1.3650 / 1.3700 Support: 1.3500 /...
🍁USD/CAD Continued Increases Ahead. 🍁Post is a direct continuation of the last post: 🍁Nothing has changed on the chart. 🍁The price is still struggling at the 0.618 level to break out above this resistance. 🍁I still think that the way to the resistance zone remains open and we will see further upside within a few weeks. 🍁The scenario I am playing out is a...
🍁USD/CAD Still on the rise. 🍁That's as I wrote last time. USD/CAD in my opinion has really strong upside potential in the next few weeks. 🍁 Looking at how today's daily candle looks. It's not hard not to get the impression that green days are ahead. 🍁 All thanks to a bounce from a strong support zone and a retest. 🍁 The support zone was determined by a cluster...
🍁USD/CAD Opportunity for growth 🍁It's hard not to acknowledge the fact that USD/CAD has shown strength in recent days. 🍁 Breaking out of the support zone heading towards a strong resistance zone then making a correction. 🍁I still think we have a lot of space for upside. 🍁Turning to the chart. 🍁Looking at the breakout dynamics in the last few days and the...
Based on technical factors there is a Sell position in : 📊 USDCAD 🔴 Sell Now 1.3338 🧯 Stop loss 1.3448 🏹 Target 1 1.3192 🏹 Target 2 1.3047 🏹 Target 3 1.2900 💸RISK : 1% We hope it is profitable for you ❤️ Please support our activity with your likes👍 and comments📝
USDCAD LONG Why are we entering? - Expecting CAD weakness & USD strength - We are forming wave 3 subwave 5, microwave 1 - We are expecting price to reject our 0.618 fibonacci and wave 4invalidation zone What is our confirmation? - Rejection from our buy zone - Break of WFB Entry - Safe Entry: Rejection of our buy zone with a break of our WFB - Risk...
USDCAD played out well and dropped down over 300pips from our POI (Point of Interest).
USDCAD Intraday - We look to Buy at 1.3600 (stop at 1.3540) Previous support located at 1.3650. Previous resistance located at 1.3700. A lower correction is expected. Risk/Reward would be poor to call a buy from current levels. A move through 1.3700 will confirm the bullish momentum. Our profit targets will be 1.3720 and 1.3750 Resistance: 1.3700 /...