Welcome to our weekly trade setup ( AUDCAD )!
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1 HOUR
Bearish pullback towards main sr level.
4 HOUR
Closure above support zone.
DAILY
Expecting further upside movement..
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FOREX SETUP
BUY AUDCAD
ENTRY LEVEL @ 0.93200
SL @ 0.92940
TP @ 0.93840
Max Risk: 0.5% - 1%!
(Remember to add a few pips to all levels - different Brokers!)
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Good morning traders, today we will analyze USD/CAD in depth since last week there was an interesting breakout that is worth studying.
This analysis consists of 3 timeframes. The Weekly and Daily are merely context analysis, and the 4h timeframe will be in which we look for a potential entry into the market.
🔸Let's look at the Weekly Chart:
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Trading suggestion:
". There is a possibility of temporary retracement to the suggested support line (0.9313).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. AUDCAD is in a range bound, and the beginning of an uptrend is expected.
. The price is below the 21-Day WEMA, which acts as a dynamic...
NZDCAD has shown a bullish breakout from the descending trendline resistance-turned-support and is now holding above the moving average support. We could see a bounce at Buy Entry level, in line with 38.2% Fibonacci retracement, 61.8% Fibonacci extension, horizontal pullback support and moving average support, and further upside towards Take Profit level, in line...
As we were expecting in our previous analysis, the US Dollar broke out of the channel and gained even more bullish momentum compared to the Canadian Dollar.
For this week we expect the price to make a pullback towards the support and range for a while before resuming the bullish trend.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The...
Trading suggestion:
". There is a possibility of temporary retracement to the suggested support line (1.47450).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. EURCAD is in a range bound, and the beginning of an uptrend is expected.
. The price is above the 21-Day WEMA, which acts as a...
EURCAD after a long downtrend tested a few times the strong trendline around the 1.47 level.
The market has been trading for a few days between the daily resistance and the support trendline and according to Plancton's strategy if the conditions will be satisfied we can set a nice long order,
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Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly...
Fundamental bias: Neutral
USD/CAD has witnessed a classic short squeeze. Like fellow commodity currencies, the toxic cocktail of Fed hawkishness and Chinese commodity intervention has taken its toll on heavily-backed trades. Yet it looks like the BoC will be well ahead of the Fed in tightening policy and now that the majority of the correction is over,...
GBPCAD broke out of a sideways range to the upside. With price holding above ascending trendline support, we expect price to face further bullish pressure above 38.2% Fibonacci retracement and entry at 1.71788. With a possible upside target at Fibonacci confluence zone at 1.72936. MACD is above 0, showing room for further bullish pressure as well.
Any opinions,...
CADCHF on the 4h chart bounced over the weekly support at the 0.618 Fibonacci level.
The price is testing the descent trendline over a minor support near to the 0.382.
According to Plancton's strategy if the price will satisfy the conditions we will set a nice long order.
––––
Follow the Shrimp 🦐
Keep in mind.
• 🟣 Purple structure -> Monthly structure.
• 🔴 Red...
Trading suggestion:
". There is a possibility of temporary retracement to the suggested support line (0.9310).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. AUDCAD is in a range bound, and the beginning of an uptrend is expected.
. The price is above the 21-Day WEMA, which acts as a...
Trading suggestion:
". There is a possibility of temporary retracement to the suggested support line (1.2124).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. USDCADis in a range bound, and the beginning of an uptrend is expected.
. The price is above the 21-Day WEMA, which acts as a...
Pattern: Channel Down on 1D.
Signal: Sell as the price is approaching the 1S MA100 (green trend-line) which hasn't seen a 1D candle closing above it since May 29, 2020.
Target: 1.1900 (above the 1.5 Fibonacci extension).
Most recent USDCAD signal:
** Please support this idea with your...
