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).
usdcad is moving bearish to the pattern completion. Currently market is very bearish, thus pattern completion create a bullish pull back and will continue downside...
Bullish Shark, ab=cd and strong support at the same level.
I'm gonna open a long position in highlighted area only with a good price action signal. Good luck.
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.
CAD weighted index, Daily on the left, we have the general bearish structure (impulse + flag, although its a flat top triangle, the general wick directions point for a massive bearish move)
Weekly on the right, shooting star closure
I do believe CAD is about to lose a very serious amount of strength, unless we close above the trendline +flat top triangle on a...
Previous view: Odds of a bull pullback are medium/high, stay bullish and buy at any low point while we don't break the 0.74400 bottom level, which will confirm the bearish pressure.
Actual outcome: Prices tested 0.74400 bottom level; although the was a tiny rejection, the bearish pressure has been confirmed.
Possible targets: @0.74000 (+30pips) and @0.73640...
Wait for a confirmation from 1H or 4H or even Daily. And the confirmation is a bearish candlestick pattern: Bearish Engulfing, Evening Star, Shooting Star, Bearish Railway Tracks, Spinning Top
Some criteria matching each other in one area:
- Trendline
- Fibonacci levels
- Previously worked resistance level
- Different timeframe EMA's
-* The gap: 80-90% of the...
Hi there. Price is forming a reversal pattern to change its direction. Watch strong price action at the breakout of the pattern or wait for the price to hit the bottom of the pattern and watch strong price action for buy.
Midterm forecast:
While the price is above the support 0.9105, beginning of uptrend is expected.
We make sure when the resistance at 0.9610 breaks.
If the support at 0.9105 is broken, the short-term forecast -beginning of uptrend- will be invalid.
Technical analysis:
A peak is formed in daily chart at 0.9395 on 06/04/2019, so more losses to support(s) 0.9170...
Midterm forecast:
While the price is above the support 0.9105, beginning of uptrend is expected.
We make sure when the resistance at 0.9610 breaks.
If the support at 0.9105 is broken, the short-term forecast -beginning of uptrend- will be invalid.
Technical analysis:
A peak is formed in daily chart at 0.9395 on 06/04/2019, so more losses to support(s) 0.9170...
