The price has formed a bullish channel after breaking the previous bullish channel, there is a chance for history to repeat itself. The price has started to make its way towards the support level of this channel, if the price is able to break below the support we could see some major drops in the value of this pair
USDCAD is approaching our first resistance at 1.3399 (horizontal swing high resistance, 76.4% Fibonacci retracement, 61.8% Fibonacci extension) where a strong drop might occur below this level pushing price down to our major support at 1.3339 (50% Fibonacci retracement).
Stochastic is also approaching resistance where we might see a corresponding drop in price....
USDCAD is approaching our first resistance at 1.3399 (horizontal swing high resistance, 76.4% Fibonacci retracement, 61.8% Fibonacci extension) where a strong drop might occur below this level pushing price down to our major support at 1.3339 (50% Fibonacci retracement).
Stochastic is also approaching resistance where we might see a corresponding drop in price....
USDCAD is approaching our first resistance at 1.3399 (horizontal swing high resistance, 76.4% Fibonacci retracement, 61.8% Fibonacci extension) where a strong drop might occur below this level pushing price down to our major support at 1.3339 (50% Fibonacci retracement).
Stochastic is also approaching resistance where we might see a corresponding drop in price....
This is not an investment recommendation or any call to buy or sell
It is just an analysis based on a study of the history of price action
Behavior , that may not be a necessarily reason for the success of
the structure or repetition. So please make your decision based on your vision .
To protect capital and manage your deals and trading successfully
the...
USDCAD is approaching our first support at 1.3294 (horizontal swing low support, 100% Fibonacci extension, 78.6% Fibonacci retracement) where a strong bounce might occur above this level pushing price up to our major resistance at 1.3389 (61.8% Fibonacci retracement, horizontal swing high resistance).
Stochastic is also approaching support where we might see a...
The pair just broke the 0.75480 - 0.75570 4H Resistance Zone, which is a technical confirmation of a bullish extension. The obvious target is the 0.76200 1D Resistance. Since 4H is trading within a Channel Up (RSI = 68.638, MACD = 0.001, Highs/Lows = 0.0031), if the Higher High doesn't break, we may pull back towards 0.75300 before testing 0.76200.
** If you...
there are short opportunity when patterns complete
This is not an investment recommendation or any call to buy or sell
It is just an analysis based on a study of the history of price action
Behavior , that may not be a necessarily reason for the success of
the structure or repetition. So please make your decision based on your vision .
To protect capital and...
Inspired by an indicator I found on stevehopwoodforex.com and the endless possibilities of tradingview.com I came up with this currency strength visualisation concept.
*Please hit the zoom-out button once*
(or more if you're feeling wild)
This may look like a mess, but the last few "bars" on the chart are holding some useful information!
I'm sure I'm not the...
The Tidal Shift Strategy has just bought USDCAD at 1.3392. The system recommends entering this trade at any price between 1.33748 and 1.34092. The signal was issued because our Speculative Sentiment Index has hit its most extreme negative level for the past 145 trading hours at -1.62012, which suggests that the USDCAD could be trending upwards.The 14-period...
Criteria:
1. Fibo retracement 62%
2. Fibo extension 161%
3. 2011 low
4. Previous 2019 high
5. The round number 0.96000
6. Channel projections
From a technical perspective, this level should be pretty strong, add here some fundamentals, etc.
Please, take a second and support my idea post by hitting the "LIKE" button, it is my only fee from You!
Have a nice...
Violent reversal lower based on the following analysis:
1. Parabolic rise.
2. The 3/8th Major Harmonic (dark red horizontal line) is a monstrously powerful pivot level. When prices are rejected at this harmonic level, it’s generally a fast and big drop.
3. The move may be exacerbated by the presence of a new swing high being found during the appearance of a new...
USDCAD is approaching our first resistance at 1.3404 (horizontal overlap resistance, 76.4% Fibonacci retracement, 100% Fibonacci extension) where a strong drop might occur below this level pushing price down to our major support at 1.3342 (horizontal pullback support, potential 61.8% Fibonacci retracement).
Stochastic is also approaching resistance where we might...
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