NZD/CAD has broken below strong trendline support at 0.9075 and hit fresh 2-month lows at 0.8887 in today's trade. Next support for the pair lies at 0.8874 (double bottom), breaks below could see downside upto 0.8780 levels. Techs point further downside, RSI and MACD are biased lower. Price action well below the cloud and we see a 5-DMA bearish crossover on...
NZD/CAD upside has been capped at 0.9226, pair has edged lower to currently trade around 0.9140. Price action on the 4-hourly charts has dipped below the cloud and 5-DMA, momentum studies are bearish, support further downside. Strong support on the downside is located at 0.9080 (cloud base and Feb 19th low), breaks below could see test of 0.9065 (rising...
Looking to short after a small retracement. This depends on what happens to the price over the weekend and where it looks like it will open. GBPs gapped open last weekend.
I'll be looking for a retracement in the next 5-8 days, followed by bear confirmation on MACD and/or candle. If I see that I'll be shorting this with the trend.
The recent risk rally has encouraged commodity currencies higher. As crude ignores the globalized downturn in economic output and ongoing "pump at all costs" mantra of producers, the Canadian dollar has hit a three-month high against the dollar. Crude aside, traders have also factored in the fact that the potential for a rate cut from the Bank of Canada had...
CAD JPY 4H (BEARISH BAT PATTERN)SHORT
Awaiting neckline breakout. Targeting 1.4055
Looking to buy the retracement on USDCAD
B:3 I:4 T:4 R:3 = 70% Grade B Revisit demand zone high momentum but wait for reversal candle
Continuation of trade is quite likely in my humble opinion. If it goes down as expected on my side, then potentially 1.366 approx level would be TP target 1. Could possiblely even go lower if it manages to break the support level. Safe trading!
The pair is in correction and we at the decision taking level now near the up trend line, buying any breakouts of the lower degree correction top trend line to target 1.46 area once again makes sense. If we are to not get that topside break and instead break the longer term trend line to the downside it signal a much deeper correction and more downside in the...
Overall daily bullish bias. Potential aussie strength to come? opening the doors for a long position. Break of the immediate resistance and trendline could warrant a long. Flat for now until a clear opportunity to enter presents itself.
CAD strength supported by ralling oil price.
Look for a short trade setup in EURCAD over the next two days, preferably on Feb 22nd around 13:00 GMT or Feb 23rd around 17:00 GMT. Price should stall out around the 50% Fibonacci retracement which coincides with the 3rd square root from the most recent low of 1.51402 set on Feb 18th. Should EURCAD run up to these levels it could stall out presenting a nice...
See my USD/CAD chart as well Hints of reversal, price has been consolidated for a while so I use caution calling that a double top Up coming trend line support Monthly chart shows waiting for more confirmation of a trend reversal could offer a great trade Patience
Strong volatility. • USD/CAD has been very volatile over the past few days. A bearish bias is still favored. Current price action is following old downtrend. Hourly support is located at 1.36392 (04/02/2016 low) and hourly resistance can be found at 1.3911 (16/02/2016 high). Expected to see further rebound. • In the longer term, the break of the key resistance...