The pair looks like the downside maybe exhausted and the current structure it's developing may turn out to be an ending diagonal and if so this is the end of the recent down move and we will start another lag to the upside.
The primary trend of EUR/CAD is bearish on charts and price is trading above the trend line in its 4 hourly chart. In 4 hourly chart the price is sustaining below 50 day SMA and taking resistance of 200 day SMA downside indicating downtrend of the pair. Resistance level of 1.4805 and Support level of 1.4655 If it breaks its support level on the downside and...
Going short in this pair. Shorts are still viable at this time. The pair looks very negative. As well JPY has been the strongest performer.
Hello Traders, If you've followed my charts you know that I post most daily charts and four hour charts. This week I will look for set ups within the hourly time frame to better demonstrate the Wolfe Wave.
AUD/CAD has broken range trade and price action has slipped into the daily cloud, hit session lows at 0.9788. Downside in the pair has found support by cloud base at 0.9787, breaks below will test next support at 0.97 (rising trendline). Resistance on the upside is located at 0.9864 (5-DMA) ahead of 0.9884 (cloud top). Recovery in crude oil prices likely to...
The primary trend of EUR/CAD is bearish on charts and price is trading above the trend line in its 4 hourly chart. In 4 hourly chart the price is sustaining above 200 day SMA and taking resistance of 50 day SMA downside indicating downtrend of the pair. Resistance level of 1.4870 and Support level of 1.4750 If it breaks its suppport level on the downside and...
Hi Trader, We have a potential double bottom forming at previous structure. Looking left on the chart you can see that price has respected this level in the past. Additionally, we have confluence with a 61.8% fibonacci retracement right there at structure. As this is a Daily chart setup, the stop is a lot wider than my usual setups, around 250 pips. Targets are...
With USDCAD being in a severe downtrend since the beginning of 2016, as shown in the image below, we are only looking to take a short position on this pair. In order for us to execute a short position on this pair we will need to see price action break below this blue short-term up trend line that is acting as support. We will also see confluence from our...
Looks like we may have entered into an ABC correction here. Price broke through trend support and then bounced off 2015 key level which could mean we are entering into the B leg for a long, and then a C leg for a short.
Display: FX:NZDCAD Description: As shown above we have FX:NZDCAD . Currently this pair is ranging between 0.89500 – 0.87500, Going back to 4th March Price was still bearish but rallied up to 0.91100 which was a 0.786 retracement of the previous swing high. Followed by two larger sized Doji's and failure of...
EURCAD is looking very similar to EURUAD in the sense that it had been in a strong downward trend since the spark of 2016 and is now currently in what is potentially a corrective period. As seen here: With the overall trend being to the downside we are only looking to take a short position. while there is still significant downside potential from where current...
Her's a complete ohter picture on the 240. Break to the downside is absolutely possible. IMO, here is a trend change going on. The red FLUSH looks like a final shakeout. More information on the chart...and try this out - i'm sure you will like it (it's free): mytradingcoach.teachable.com
Bearish trend has been continuing for a long time. Resistance level comes closer and closer to the support. One day and one week RSI close to oversold. Strong structural level at 1.81902 which has been in place for almost half a year. Follow of that bearish trend and if it doesn't break the existing trend and its resistance (red lines), then it's very likely...
Descending Triangle USDCAD. Start shorting here or wait for a downside breakout and then short.
I think USD/CAD going down, because of Resistance, plus a lot of news for dollar. Also we see long wick on 2 last candles. And maybe pattern w - signal for Short