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🚀 ✅Like and subscribe to never miss a new idea!✅
Hello,Traders! CAD-JPY has retested a key resistance level at 107.118 And is now going down and there is also a rising support present On the higher timeframes so it can not be see on this chart So we will first see how the pair interacts with the rising line And then if the price manages to break it We will see a retest of the support level at 103.803 From...
NZDCAD nicely reacted to a key horizontal structure resistance. The price broke a support line of a bearish flag pattern and closed below that. Now I expect a further decline to 0.798 / 0.794 ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
The USDCAD pair has been trading within a 1 year Channel Up pattern as we've mentioned on our last analysis in early June: As you see, the rebound on the Channel's Higher Lows (bottom) trend-line worked perfectly as a buy entry and hit our Higher High target in short time. The price is now on a pull-back after the Higher Highs (broke above but still closed...
✅CAD_CHF has been falling recently And the pair seems locally oversold So as the pair is approaching a horizontal support Price growth is to be expected LONG🚀 ✅Like and subscribe to never miss a new idea!✅
Hello,Traders! CAD-CHF is trading in a local uptrend So as the pair is going down To retest the support cluster It is likely to rebound and Retest the resistance above Buy! Like, comment and subscribe to boost your trading! See other ideas below too!
Hello,Traders! USD-CAD is about to retest a horizontal support From where a local rebound is to be expected With the target of retesting the resistance above Buy! Like, comment and subscribe to boost your trading! See other ideas below too!
As you remember, traders, we were very bearish biased on GBPCAD last week. Now it's time for an update! The pair is currently trading within a falling parallel channel. Reaching its resistance, the price formed a double top formation and broke its neckline then. I believe that the pair will drop to 1.54 / 1.5366 levels soon. ❤️If you have any questions,...
Hello,Traders! CAD-JPY is trading in a local rising channel And after the retest of the horizontal resistance We are seeing a bearish reaction So IF we see a breakout from the channel To the downside, that will be an indicator That the pair will go further down Sell! Like, comment and subscribe to boost your trading! See other ideas below too!
Hey traders, USDCAD reached a resistance line of a major rising parallel channel this week. To catch a bearish move from that, watch a rising wedge pattern. Wait for a bearish breakout of its support. That will be your trigger to sell. Then the market will drop at least to 1.294 ❤️If you have any questions, please, ask me in the comment section. Please,...
Hey traders, Update for EURCAD pair. As you remember, we spotted together a major monthly structure yesterday. The price has perfectly bounced from that. The price managed to break a resistance of an intraday accumulation range. I am expecting a bullish continuation from its retest. Targets: 1.32 1.328 ❤️If you have any questions, please, ask me in the...
Hello,Traders! EUR-CAD was trading in a falling channel But then a bullish breakout happened Which makes us bullish on the pair Thus making me expect a move up And a retest of the target above Buy! Like, comment and subscribe to boost your trading! See other ideas below too!
CAD/BoC – The Bank of Canada raised rates by 100 basis points at its July meeting, its single biggest hike in 24 years. Furthermore, the central bank said more hikes would be needed. Commenting on their decision, BoC Governor Macklem said: “We had indicated we were prepared to be more forceful. Today was more forceful…Yes, it is a very unusual move to increase...
Hey traders, After 1-month consolidation around 1.547 - 1.554 demand area, the market finally broke and closed below that. The broken structure turned into a strong resistance now. I will expect a bearish trend continuation from that at least to 1.53 level. ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like,...
CADJPY broke and closed below a support line of a bearish flag pattern. I believe that the price will keep falling now. Initial target - 104.25 ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️