CADJPY is possibly correcting and might retest the 100 moving average, Fibonacci level of 61.8%, and the convergence of two local trends before resuming its downward movement. Share your thoughts in the comments and show support by liking the idea. For more ideas, follow me. Your support is appreciated!
• Renewed US Dollar strength coupled with falling Oil prices due to fear of recession, are the main fundamentals behind the rally of USD/CAD • Technical picture remains bullish as long as above the slightly ascending trend line and horizontal support at 1.3530 • Long term symmetrical triangle is shrinking which means the breakout is coming soon and the projected...
USDCAD is trading inside a Triangle with the price rising after it last hit the pattern's bottom (Rising Support). It has failed to close over Fibonacci 0.618 on six straight days. This failure is a technical sign of trend weakness, very much alike the struggle on Fibonacci 0.618 last December. Sell and target the Rising Support again at 1.33550. Previous...
The AUDCAD pair hit today the 1D MA50 (blue trend-line) for the first time in more than two months (since February 22). By doing so, it has approached both the Channel's top (Lower Highs trend-line) and Resistance 1 (0.912750) of the April 03 High. With the 1W RSI still far from its Support/ Buy Zone, we treat today's rise as a sell opportunity and short towards...
In USDCAD, we currently have a price that is in a long trend. Everyone is waiting for the big day of the FED, which is tomorrow. Technically, we have two scenarios: a short one, aiming for a price rebound in the 1.365 area within the supply I have highlighted, or a rebound in the 1.353 area within the demand I have highlighted, aiming for a long trade. Let me...
USDCAD - 24h expiry - Previous support located at 1.3525. Previous resistance located at 1.3600. The corrective move lower has stalled overnight and reacted higher from in front of the 61.80% Fibonacci retracement of 1.3525. We expect a reversal in this move. A move through 1.3560 will confirm the bullish momentum. We look to Buy at 1.3530 (stop at 1.3490)...
The EURCAD pair hit the first target we set on our late-March analysis: The pattern that emerges is a Channel Up and the next high probability buy entry is located exactly at its bottom on the 1D MA50 (blue trend-line). If the price breaks below the Channel Up, we may see a prolonged accumulation on the 0.618 Fibonacci level. As you see the Fibonacci levels...
Hey Traders, in today's trading session we are monitoring AUDCAD for a selling opportunity around 0.90600 zone, AUDCAD is trading in a downtrend and now seems to be in a correction phase in which it is approaching the major trend at 0.906 supply and demand zone, i would like to keep an eye on the stock market as American Indices that correlate positively with...
Potential buy opportunity here. Not Advice. Nice 5 wave count. Looking for 38% target on fibonacci tool.
EURCAD is showing us the perfect impulsive wave. As we can see, we are currently on the 4th wave correction which is an ABC wave. We are on Wave C now, which has 5 waves. We're expecting the final 5th wave higher, which will be broken down into 5 subwaves. 4H Timeframe Trade Idea: - Watch for break of red trendline for confirmation that we've started the 5th...
USDCAD upcoming week Technical Forecast as FOMC on the way to hit market, so follow money management properly GOOD LUCK !
Hey Traders, in the coming week we are monitoring USDCAD for a buying opportunity around 1.346 zone, USDCAD was trading in a downtrend and successfully managed to break it out and now seems to be in a correction phase in which it is approaching the retrace area at 1.346 support and resistance zone. trade safe, Joe.
Hey Traders, in today's trading session we are monitoring CADCHF for a selling opportunity around 0.66100 zone, CADCHF is trading in a downtrend and now seems to be in a correction phase in which it is approaching the major trend at 0.66100 support and resistance zone. We would also consider some potential CHF strength as it's considered a classic safe...
AUDCAD on the 4h chart after the recent low resets the weekly resistance. We can notice how the structure is at the 50% retracement of the previous bearish impulse. The price has been rejected by the area and is now trading over a 4h support. According to Plancton's strategy IF the pair will break below we can look for a nice short order according to the MTB...
USDCAD after the recent low started a bullish impulse to the 4h resistance. The price on the daily and weekly chart show an increasing bullish pressure and the main treend remains long. According to the Plancton's strategy IF the market will break above we can set a nice long order.
Hey Traders, in the coming week we are monitoring NZDCAD for a selling opportunity around 0.85200 zone, NZDCAD is trading in a downtrend and now seems to be in a correction phase in which it is approaching the major trend at 0.85200 support and resistance zone. i would also keep an eye on the stock market as NZDCAD does correlate positively with the American...
As of today, the AUD/CAD exchange rate has been displaying a consistent bearish trend, characterized by a series of lower highs and lower lows. Notably, on 23 April 2023, the pair reached a high of 0.9100, followed by a subsequent drop in value to its current level of 0.9000. Further analysis reveals that the exchange rate has been trading within a symmetrical...
As I predicted, USDCAD dropped yesterday. It turned out that the price managed to form a bearish engulfing candle on a daily time frame, a support line of a rising parallel channel was broken on a 4h time frame then. I believe that the pair may go lower. Goals: 1.357 / 1.3533 ❤️Please, support my work with like, thank you!❤️