-INTRODUCTION- USDCAD is currently moving within a wide ascending channel. The price has recently reached a new high at the 1.3070 level. After reaching a new high, the price retraced, and now aims to retest the 1.2750 support level. This is a healthy pullback, as we can see from the past price action that after price has reached a new high, it tends to correct...
On the 4H TF, the support & the trendline supporting the prices breached too. Now the price is likely headed to its next ideal support. The path to target seems to have no resistance present at the moment, so its likely that the price retraces slightly before heading south. Have a look at the main chart for complete information
Breakout and false breakout can happen due to fundamental factors that change every day, the main focus at this time for the USDCAD pair are the fed interest rate, oil prices, inflation , monetary and fiscal policies. Oil price rally makes correlation for Canadian Dollar. This is USDCAD analysis on higher timeframe : USDCAD D1 - 4th MAY 2022
USDCAD broke the major resistance on the weekly & monthly timeframe signaling that it is ready to head higher towards the next high present at 1.33500. With the DXY also likely to head higher, this particular pair has been quite resilient in heading higher due to the Lonnie being supported by higher OIL prices. However a slow move upwards is supported by the...
A 'sell' opportunity just presented itself on the euro-loonie trading chart following the bearish inverted pin bar at the end of the bullish run just below the 1.37664 daily horizontal resistance level. If you enter this trade at 1.37482 and put your stop at 1.37787 (about 30.5 pips) and target at 1.35355 (about 212.7 pips), you could be looking at a...
DXY - Dollar Index has approached to its 5 year high of 103 - 104 with strong monthly candle. USDCAD - is approaching to the 2021 resistance level which it breaks during Covid-19 period. EURUSD - has been testing 2015/16 lows after breaking Covid-19 lows. Both the pairs are heavily dependent Dollar Index which remains in limelight after FED Interest rates...
DXY still bullish and expecting price to hit 103 in the coming weeks. So all bullish Dollar on Majors.
Technically, we can see the ascending triangle pattern on USDCAD Daily. and a breakout occurred in the support area, there was also a retesting . This will increase the possibility of USDCAD to be bearish in the future. a false retest can occur due to fundamental factors that change every day, the main focus of the USDCAD pair at the moment is oil prices,...
A long trade opportunity recently presented itself on the CADCHF trading chart. This is signalled by a bullish harami candlestick pattern just above the 0.73580 horizontal support level. Depending on when you enter this trade, you could expect a reward-to-risk ratio of 3.73 with SL at 0.73549 and TP at 0.74519
Soaring OIL prices has caused the LOONIE to strengthen considerably! On the other hand the JPY has lost ground against all the major currencies. The depreciation in the YEN is driven by the inflation fear in world's major economies caused by the conflict in eastern Europe and soaring OIL prices is not lending a helping hand to the JPY. With OIL prices predicted to...
Oil price rally makes positive sentiment for Canadian Dollar, If we look at the COT Reports sentiment: CAD, www.cftc.gov non-commercials began to reduce their short positions by 11,180 contracts, overall long positions were much more by 47,406. this will lead to a strengthening sentiment in the CAD. Technically, we can see an ascending triangle pattern on USDCAD...
The long term ascending trendline has been violated which is evident to a smaller extent on the main daily chart. Have a look at the image below which show the weekly timeframe perspective of trendline violation: These two perspective strongly favor that indeed the trendline has been violated and now the price looks set to head lower and test 1.25000...
USD FUNDAMENTAL BIAS: BULLISH 1. Monetary Policy The Jan FOMC decision was hawkish on multiple fronts. The statement signalled a March hike as expected, but Chair Powell portrayed a very hawkish tone. Even though Powell said they can’t predict the rate path with certainty, he stressed the economy is in much better shape compared to the 2015 cycle and that...
USD FUNDAMENTAL BIAS: BULLISH 1. Monetary Policy The Jan FOMC decision was hawkish on multiple fronts. The statement signalled a March hike as expected, but Chair Powell portrayed a very hawkish tone. Even though Powell said they can’t predict the rate path with certainty, he stressed the economy is in much better shape compared to the 2015 cycle and that...
the pair is still biased to the downside with the rise in oil prices the cad might gain as well, meaning that any war halt will take the dollar index down again since it is playing a major role as a safe haven recently. Usdcad is the best investment at the moment for a long term view.!! good luck!!
After monitoring the USD over the past few days we can see a final clear direction for many instruments as they pave the way to show the trends heading into this first quarterly year end. USD/CAD here is look relatively strong overall with 1.3100 being a clear target to the upside over the coming weeks. As it stands on the daily and above the price action is...
Brief pull back on the loonie, use proper money management. Tight stops as always.
Time to see loonie recover, Use proper money management tight stops as always. Cheers