Very strong daily trend upwards imo. Clean highs at 1.3350 is like a magnet for price.. I'll be looking for a long entry between 1.3225-1.3235. Why? (Confluences) - Daily OB - 705 fib - 50EMA Invalidation below last swing point.
Our 4Hr chart shows a shallow downtrend since the start of August; since then the trend has been so shallow CADJPY has ultimately been consolidating. Looking for a breakut we will use our resistance as we are down-trending. Our Resistance line shows we are at the top testing our line for the 5th MAJOR time. With no avail to proceed past. We will use our 1000 Range...
Clear broken support which now becomes resitance and bears taking over. Smart money probably pushed the price a bit higher so that buyers enter but as I mentioned its a clear broken support which is now resistance. Price will go down.. Great risk/reward. Catch it & enjoy my friends!
Looking at this pair, I will be going short should the 4hour candle indicate a downward trend. What's your take? TriforeX
The Market has been pretty bearish for USDCAD but the trend line broke and retested forming an inverse head and shoulder pattern on the 4h candle .It possible it could go all the way up to 1.31935 before a pullback can occur.
Usually CADJPY has positive correlation with BrentOil (attach idea at the bottom) Sell 83.389 SL - 83.64 TP1 - 82.93 TP2 - 82.24 TP3 - 81.98 TP4 - 81.65 RRR - 1:6.6
While a number of technicals point to a bit of an upside trend, this should be limited by short-term resistance followed by a correction back to the long two-year channel that has formed. Daily FX's Nick Cawley called this the trade of the year to short this pair. So far its not panning out. For more, check out www.anthonylaurence.wordpress.com
See trade config after pull back to value. Longer term view i see this pair reaching 1.53000
Weekly trend continues. 4hr wedge break out imminent.
See chart for trade configuration... *** O
Wait for confirmations before entering this idea. 1H and 4H candle confirmations is ideal.
CADCHF REVERSAL in the offing please like, follow and comment. thanks
USDCAD this is a nice place to enter for a short. stop loss should just be above my blue line. FOR THOSE THAT have been keeping tabs with my analysis, you should have made lots of profit on this pair. :) PLEASE LIKE, FOLLOW AND COMMENT
CAD is over-valued and last month's candlestick was bullish. Trade as follows: Buy: 1.274 Stop Loss: 1.269-Below December 21 lows Take Profit: 1.29-this week’s highs More from: forex.today Let me know what you think.
I see CADJPY still as longterm short! look why