CAD has been lagging its two brothers the AUD and the NZD but that will not continue indefinitely. Where two go the third will always follow, we are in the midst of a significant move, indices up, commodities up and dollar down. These headwinds should blow the CAD higher. This opportunity is quite good, we have a nice 3 wave pullback and will be looking to buy...
Sell below 89.29. Stop loss at 89.46. Take profit at 88.88. Reason for the trading strategy (technically): Price has bounced up perfectly and reached our profit target. We prepare to sell on major resistance at 89.29 (Fibonacci retracement, major horizontal overlap resistance) for a strong reaction off this level to push price down to at least 88.88 support...
CADJPY is seeing major support above 88.57 (Fibonacci retracement, horizontal overlap support, Fibonacci extension) and a strong bounce could occur above this level to push price up to first major resistance at 89.55 (Fibonacci retracement, horizontal swing high resistance). Stochastic (55,5,3) is seeing major support above 1.9% where a bounce is occurring nicely...
Buy above 88.52. Stop loss at 88.24. Take profit at 88.87 and 89.02. Reason for the trading strategy (technically): Price is testing major support at 88.52 (Horizontal swing low support, bullish price action, bullish harmonic formation) and we expect to see a nice bounce above this level to push price up to at least 88.87 (Fibonacci retracement, horizontal...
Price formed a double top to strong resistance at the 91 area, now sitting on its weekly uptrend line. Will be watching for a break or bounce on the smaller time frames
Strong bullish candle indicating strong move upward to 91-91.5 area
Today's weakness in CAD shows continuation move downward to 87
CMP Long @ 89.00 ( or more lower price if its fall ) Stop Loss @ 87.15 Target @ 94.35 RR Ratio @ 2.89 Trading involves substantial risk of loss. I'm just providing insight into what trades I'm taking.
Price broke out of its consolidation box, now moving sideways above. Now forming a bull flag we could see a move up to daily resistance from here watching for a break of the flag
If prices close below 89.30 we expect lower prices, if prices close above 89.50 we expect prices to rise higher
Price has bounced up perfectly from our major support at 88.57 previously. Major support is now at 89.37 (Fibonacci retracement, horizontal pullback overlap support) and a potential bounce could occur from here pushing price further up to 90.37 resistance (Fibonacci retracement, Fibonacci extension). Stochastic (89,5,3) is seeing major support above 1.9% where a...
CAD/JPY has lost quite a lot from 91.5 to 88.5 since the beginning of this month. It currently still hasn't found it's major support to get into a reversal. We can expect it to fall further down about 100 pips if the current suport is broken. As always, risk manage properly. Happy trading!
After a big pullback in the Yens taking CADJPY long off the Weekly support plus swing trading Ichimoku wave.