I will open buy after fake broke of key level 1.47548:
- 1.47548 is a 10-Month Low.
- Many retail traders set their stop losses below such historical lows. Big players hunt for such places to accumulate volume.
- Potential profit will be in 5...10 times bigger than risk
USDCAD is approaching a decent demand zone on a daily chart.
On 4H chart the market is coiling inside a falling wedge pattern.
During Friday trading day bears were trying to continue lower,
however, were rejected by the strong pressure of bulls.
my plan is to wait and buy for a bullish breakout of a wedge.
if bulls break above it, there will be a high chance...
Hi there. Price is forming a continuation pattern to the downside. Wait for the price to hit the top of the pattern and watch strong price action for sell.
The pair is trading inside a 1W Channel Down (RSI = 43.198, MACD = -0.004, Highs/Lows = -0.0038) and is testing the Lower High belt. Following a Death Cross earlier this month, there are high chances for a continuation of the downtrend either within the channel or after a rejection on the MA200. Our TP is 0.85000.
** If you like our free content follow our...
The pair is trading on a 1.5 year long Channel Up on 1M that has turned neutral (RSI = 50.869, Highs/Lows = 0.0000, MACD = 0.008) as the price is currently testing the 2019 1.30700 Support. If this level is crossed we may have the conditions for a flash crash to the lower Support levels (dashed lines). The Death Cross formation should come as confirmation. We will...
The support zone earlier tested multiple times was finally broken acknowledging the bearish trend. Prices are heading to settled on a new support zone containing the low of the year @1.30680.
Possible targets: @1.31000 (+80pips) and @1.30000 (+180 pips).
Advice: Stay bearish and sell at any high point while we don't reach back 1.33000 top level.
Overbought Canadian Dollar due to high Oil prices
Descending Wedge
High Oil Prices (Strong Canadian Dollar)
Brett Uncertainty (Boris Johnson to get brexit over the line).
Possible Retest of the Support from Jan 10th 2019 (White line).
