This is my personal idea, please be careful in trading
Last Friday we had unemployment figures from both Canada and the US. Below were the results. USA - Average Hourly Earnings (YoY): 5.4% USA - Nonfarm Payrolls: 49K USA - Unemployment Rate: 6.3% CAD - Employment Change: -212.8K CAD - Unemployment Rate: 9.4% Here you can see the US reported their unemployment rate at 6.3% signaling a nice improvement, following...
Loonie - USDCAD - Trade idea! It's called Loonie for reason, not my favourite pair but I do great potential both sides of this trade idea. This will be very interesting as we had great amount of energy from WSB dominating the market, will it be the same this week? I suppose it - Equites will decline further will given the headlines out: JPMorgan to pay $920...
This is a follow up to a previous post about a possible breakout setup from this long term descending channel. Did not materialize immediately but is making another attempt this week. Looking for a weekly close above 81.95. Note that this will also be a monthly close. Should be significant if it happens. Will look to buy above said level once breakout is...
The Loonie is also weakening near the bottom of the G10 ranks along with the Aussie and Kiwi that has failed to glean any lasting traction from firmer than forecast CPI or the fact that the Aud/Nzd cross remains top-heavy above 1.0700. Usd/Cad is back above the 1.2700 handle, Aud/Usd under 0.7750 and Nzd/Usd sub-0.7250 all awaiting the FOMC, though the latter also...
Trade with care. Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. We do not recommend making hurried trading decisions. You should always understand the risk that trading implies and that PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.
Buying pressure seems to be building nicely and pointing to a possible breakout sooner rather than later. A weekly close above 82.00 would be a bullish signal. A successful breakout could target the 84.30 area for starters. The HR chart is showing an expanding triangle at resistance level. Looking mighty bullish IMO but still needs to break away from this...
USDCAD - Technical Aspect: - Pattern: Rising Wedge - Fib Retracement: At 0.23 - Measured could reach the next Fib Retracement area of 100. - Support: 1.26805, 1.26690, 1.26360 - Resistance: 1.27145, 1.27315, 1.27600, 1.27910 (The target areas I will be approaching as time goes by - high lighted in Blue) The approach you could take towards this trade idea: ...
My readers and followers are up to date on the ongoing currency war. Central banks are attempting to weaken their currencies in order to boost inflation and exports. The export part is self explanatory and well known, but the inflation aspect involves the classical economics definition of inflation. Inflation is the weakening of a currency where it takes more of...
As previous Take 1 I am still bearish UC
its near the dynamic resistance line in the weekly timeframe and also the static resistance line in Daily Timeframe. if The PMI News Comes Bad for CAD Sell position is confirmed. it is safer to enter when the short uptrend line got broken. share your ideas with Me :)
The Loonie broke the weekly support and we saw a freefall below 1.30. Really cannot see the USDCAD breaking back above 1.30 now with the DXY crumbling and oil prices climbing. The only question is where the pullback ends. I've highlighted a 1hr zone of interest in yellow, where price stagnated creating a potential shelf for price to retest. However, should...
We could break this weekly support this week. Need a daily close below the red area.
I'm Bullish. I know, risky right? Take a look at the weekly, at the daily, this big grey area is holding like a champ. Keep an eye on 1.31100 but other than that, we should return to 61.8% given Toronto is back in strict lockdown.
4HR USDCAD Technical Analysis - COUNTER TREND TRADE. Technical aspects: Pattern: Small descending channel smaller term , until it's broken Bullish flag Intra day could come into play if it breaks towards upside. Resistance: 1.31248, 1.31410, 1.31793, 1.32076 Support: 1.30639, 1.30367, 1.30048 If it breaks towards resistance area of 1.31248 I'd see the...