Lately, some news about China to start buying oil for state reserves sparked some volatility in loonie too. I guess the oil future will be going fine in coming further weeks so that might help this pair to rebound at some level. Stochastic pointing out the momentum in favour of bullish so far.
Good morning traders, So yesterday, I did post an idea about the usdcad going higher, how ever, I woke up this morning morning and noticed a PFH has been printed. Which has dramatically changed my bias on the direction. USDCAD is now a clear short to me, would be looking to enter on a pullback. As always, keep the risk managed! Cheers :D
Sup traders, USDCAD had its well deserved rest, its now time for it carry on, on its march up to recent highs! Remember to keep the risk managed! Cheers :D
This type of triangle chart pattern occurs when there are a resistance level and a slope of higher lows. What happens during this time is that there is a certain level that the buyers cannot seem to exceed. However, they are gradually starting to push the price up as evidenced by the higher lows. If you think bulls can take the ball away up to the horizontal line...
Kinda feels like the bear has no much strength to even drag this pair further deeper. We have seen good gains on the comdolls from the beginning day of the week. Equity market did raise well and mostly TVC:DJI but talking back to comdolls at the moment bearish are weakening. Feels like there could be more probabilities for upside rather than the downside as long...
EXPECTING A BOUNCE HERE, BUT THE TREND IS MASSIVELY BEARISH! THE CANADIAN LOONIE IS THE WEAKEST CURRENCY IN THE WESTERN WORLD, EVEN WORSE THAN THE AUD (IT MAY NOT SEEM IT YET, BUT JUST WAIT!) THERE IS A GOOD CHANCE GEORGE SOROS IS BETTING ON A CURRENCY CRISIS HERE JUST LIKE ENGLAND IN THE 1970s!
Governing Council stands ready to adjust policy further and to deploy other market tools if required: BOC . 25 bps cut probabilities at the April meeting or sooner.
USDCAD has popped out of the corrective bullish wedge, however bulls need extra power to get it above 1.35012. Any form of rejection at this level will send the pair back to re-test previous support N.B - Let emotions and sentiments work for you -ALWAYS Use Proper Risk Management In Your Trades
WAVE COUNT SEEMS PRETTY GOOD! CANADA'S ECONOMY IS ABSOLUTE GARBAGE, OPERATING WAY BELOW POTENTIAL! BOC HAS BEEN MONETIZING FEDERAL DEBT FOR A DECADE! I AM BY NO MEANS U$D BULLISH BUT CAD IS GOING DOWN THE TOILET!
BANK OF CANADA DIRECTLY MONETIZING FEDERAL DEBT FOR A DECADE! NEGATIVE REAL ECONOMIC GROWTH! NEARLY UNPARALLELED DEMOGRAPHIC PROBLEMS! HOT TAKE: CANADA IS THE NEXT VENEZUELA!
BOC coming near and most of the currencies having this comdoll as a base or counter losing against the other side currency example FOREXCOM:USDCAD , it all give us some hint that market participant was dumbing loonie before its meeting. It may have retracement upward but overall deciding for now the overall market reversal might have fewer chances before the BOC...
Hello traders, usdcad is developing wave 5 and I think that it will at least reach the red resistance that I drew on the chart, if oil should go down usdcad could break the resistance; In the larger picture (DAILY CHART) there is a downtrend but the price broke a speedline demonstrating a new bullish strength. In addition the shor term trend is bullish and there...
So far exactly as forecasted 👍 Wait for a correction to find a buy setup again. Happy Trading & stay green! ✌️ ➖➖➖➖➖➖➖➖➖➖➖➖➖ 💬 Please let me know your view about the idea 🔗 Check out the "Related ideas..." in the links below too ➖➖➖➖➖➖➖➖➖➖➖➖➖ 📌 Note: The published ideas, are ONLY our views and analysis of the market. Forexian does not take any...
Currently Trading in a 4H channel We can expect a brief test of 1.3200 level before reversing back to test the 1.3250 level and then resuming the downtrend to 1.3150 and eventually hitting 1.3100 in early March.
Risk appetite appears to have improved somewhat during the Asian session, and the Loonie has been the strongest among the comdoll bunch. This is likely because the commodity currency is having some strength after Canadian data and a pickup in crude oil as well. After all, there are speculations that the OPEC could consider an increase in output cuts or at least...