The loonie probed stops above the 1.2800 level and closed back below the daily trend line (triangle). Crude oil has been pounded lower and the risk is growing that a bounce in crude could materialize this week which may allow for the USDCAD to slip back below channel support at the 1.2700 level and back "mid range" in the middle of the long term triangle...
USDCAD is trading to the upside currently prior to the CAD Consumer Price Index data, which tracks the change in prices across a range of goods and services and is used to measure inflation. Technically the pair is holding above the moving average ribbon, and has bounced from a key support zone. We are capitalising on the strong USD bull market with this trade,...
TRADE TYPE: SELL LIMIT ORDER
TRADE DIRECTION: SHORT
ENTRY PRICE: 1.24360
STOP LOSS: 1.24940
TAKE PROFIT: 1.23790
RISK TO REWARD: 1:1
Follow this thread for any future updates regarding this specific trade
Its a good pattern that has developed on this pair. To be able to trade this with certain confirmation, we need the daily and 4H candle to close above 1.25000 resistance. After this a LONG trade can be taken to target 1.26500 Monthly R1 pivot.
THIS JUST REPRESENTS MY ANALYSIS ON THIS PAIR AND ITS NOT A TRADE SIGNAL. I HAVE MANY PAIRS THAT I MONITOR AND ALL OF MY...
USDCAD is trending to the upside currently prior to the Non Farm Payrolls, which measure the number of new jobs added in non agricultural industries. Technically the pair is in a bullish structure, the RSI is bullish, and we have just broken the recent highs on the 1H chart.
Price seem to be supported by S2 MONTHLY PIVOT. A potential break of trendline could lead the price to aim towards descending trendline located at the area near S1 MONTHLY PIVOT. For the criteria to meet, The 4H candle needs to close above the trendline and 4H 50 EMA. After this the RISK TO REWARD needs to be evaluated based on WEEKLY pivots.
This move is likely...
USDCAD has broken the descending trendline prior to the CAD Retail sales data which measures the total receipts of Canadian retail stores. Technically the pair has broken the bearish trendline and the bearish structure. We anticipate upside now into the key resistance zone.
USDCAD has tested the trendline that contains the downward trend at 1.2370 area. The reversal candles there show that sellers emerged and the picture shows that the pair needs one last leg down towards the previous lows. We are sellers at the 1.2350-70 area with stops above today's high, targeting 1.2320-30 for once more.
USDCAD has found support following a short term trendline break. Later today the CAD Foreign Portfolio Investments in Canadian Securities shows the movements of incoming and outcoming investments (money market, stocks and bonds) from Canada. Technically the pair has held above support and the RSI has turned bullish. We anticipate continued upside into the 1.2460 level.
Trendline and D EMA break is required on daily TF for this pair to make an upmove towards the MONTHLY R1 PIVOT. The clearance of weekly EMA is also essential in this setup. shall all this take place, the path to the target would have least resistance.
shall there be any updates i shall provide in the thread below
Morning Traders, Usdcad pair completed a 3 corrective pullbacks and is starting a new impulsive wave in which we have finished a 5 minor waves inside.
we are waiting for a wave (2) pullback before selling again the pair. sell limit orders as shown in the chart near 1.2710 level with an open target.
USDCAD is trading to the downside prior to the CAD Industrial Production Price data, which measures price changes for major commodities sold by Canadian manufactures. Technically the pair has broken the ascending support trendline, and is now at resistance.
USD/CAD has recently made another supportive rebound off the daily 200MA and 61.8% fib level.
A possible drive higher on this pair over the next couple of days is possible into the highs of the candlestick bodies formed earlier this month.
Daily moving averages have also remained pointing to the upside.
Trades were pricing in more volatility for the BoC via a loftier implied 68 pip break-even, but in the event Usd/Cad only moved in the region of 40 pips, initially, as the Bank largely stuck to the script and rolled out a very similar accompanying statement to the previous one from July - bullets and a link to the full text available via the Headline Feed at...
USDCAD has traded into resistance prior to the CAD Bank Of Canada rate decision, which decides whether to increase / decrease / hold interest rates. Technically the pair is at a resistance pivot, and the RSI is giving a bearish signal. We are looking for downside to support.
USDCAD is trending to the upside prior to the USD 4 week bill auction that reveals the yield on the US Backed securities. Technically the pair has held the key support figure and the RSI is bullish. We anticipate continued upside into the 1.2700 level.
It seems again time to long USDCAD. Support zone is so strong and three daily candlestick over the line is sign to strong support line.
Risk reward is so logical and no fear to trade this pair at the time.