The CADJPY pair has broken below the 1D MA50 (blue trend-line) on July 29 and has stayed below it since then, being unable to made a break-out and return to the bullish trend of the past year. The longer it fails to do so, the more selling accumulation we will see. In fact both in terms of RSI and MACD, this resembles the sequence of June - September 2021, where...
CAD – The Canadian dollar strengthened on Tuesday as investors raised bets on another oversized interest rate hike by the Bank of Canada next month after CPI data showed rising underlying inflation pressures.
Reuters notes “money markets were pricing in 59 basis points of tightening by the central bank at its next policy announcement on Sept. 7, up from 53 basis...
The AUDCAD pair has been on a strong rise since the July 13 Low on the 1 year Lower Lows zone. That was a buy signal that we posted exactly a month ago:
The rebound has now reached the critical 1D MA200 (orange trend-line), which has been the Resistance in the past 3 months. The last Lower Low on January 28 2022, had a rally that did break above the 1D MA200...
The EURCAD pair has been trading within a long-term Channel Down since the September 20 2021 High. Right now it is consolidating after the July 13 Low, being below the 1D MA50 (blue trend-line) since June 28. Also below the 0.5 Fibonacci retracement level, this calls for extended selling to new Lower Lows as it happened two times before within the Channel...
The pair has struggled to break the resistance level for the past few days and succumbed to bearish pressure today.
We can expect a pullback before continuing the drop towards the support levels.
Hello,Traders!
EUR-CAD broke out of the pennant
To the upside and the pair is now coming back down
To retest the broken level
After that, I think we might see another move up
Buy!
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hi guys its kamy.
sorry for not uploading posts i just lost my grandma and it was a tough time for me and my family.
we have USDCAD chart here after breaking last channel and price got so close to our resistance level so we expect price to go down so we can have a pullback then we can see if price wanna go higher.
Now we should wait for signal and key bar to take...
We are just about half way thru earnings season for the TSX, with the next BOC meeting in September 7th and another hike of minimum 50bps is already guaranteed I think it opens up a great period for the TSX to make a new low.
Earnings have been better than expected for a lot of the bigger companies in all sectors from industrials, utilities, staples and of course...
The GBPCAD pair broke above the 1D MA50 (blue trend-line) this week for the first time since February 24 and is consolidating. This is the first sign that the trend might be changing from long-term bearish to bullish. This is evident on the 1D RSI which has been on Higher Lows for months. The very same pattern was last seen in Q3/ Q4 2021. After the price broke...
USD/CAD fundamental analysis
A tight labour market with unemployment at historic lows that continues to boost consumption, support from interest rates (with a very hawkish Bank of Canada), and, finally, the persistently high energy prices of oil and gas, which act as a tailwind for the Canadian economy, all contribute to the Canadian dollar’s solid...
the USDCAD price breaks the daily support level ,the old support becomes new resistance level ✔
the breakout is retested ✔
so, i predict a bearish move 🧐
...
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The NZDCAD pair couldn't have traded better lately as it has been following exactly the trading plan we posted on June 17:
As you see after a rebound to the 1D MA50 (blue trend-line) and rejection, the pair made a Lower Low exactly at the bottom of both the Bearish Megaphone and Channel Down patterns, which is where we advised for a buy. Since then has been...
So it turned out that NZDCAD formed an inverted head & shoulders pattern on a daily.
The price has easily broken and closed above its neckline.
I believe that it will initiate a strong bullish movement.
The initial target will be based on a falling trend line.
The second target is horizontal structure based - 0.8168.
❤️If you have any questions, please, ask...
USD
FUNDAMENTAL OUTLOOK: BULLISH
BASELINE
Hawkish Fed policy remains a key driver for Dollar strength. With headline inflation >9%, the Fed has been pressured to tighten policy aggressively, hiking rates by 75bsp at their June meeting, and continuing with Quantitative Tightening. However, as a result of increasing fears of a growth slowdown (as evidenced...
CAD
FUNDAMENTAL OUTLOOK: NEUTRAL
BASELINE
The CAD has enjoyed far more upside in the past few weeks than we anticipated. We’ve been cautious on the currency given Canada’s dependency on the US (>70% of exports) where the clear signs of a faster than expected slowdown and possible recession should deteriorate the growth outlook for Canada. Apart from that,...
✅CAD_JPY is trading in an uptrend
Along the rising support line
Which makes me bullish biased
And the pair is about to retest the rising support
Thus, a rebound and a move up is expected
With the target of retesting the level above
LONG🚀
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