This pair has been trapped within a large complex correction between 1.38 and 1.20. This move down started for the top could breakdown support soon to pass all the way down into 1.20 area to tag former valley. Then another seesaw move before the final drop occurs.
Oil is the main driver behind the CAD pairs and with the OIL market slowly recovering aided by the sanctions on Venezuela's OIL exports by the US and the cooperation among the OPEC AND NON-OPEC Producers. Many see the OIL market recovering in the near term and to further strengthen the technical picture, there is an already completed head and shoulders pattern on...
Hi there. Price is forming a continuation pattern to the upside. But first price needs to complete one more move to the downside. So, watch strong price action at the current price for sell.
Price broke through the 200 day EMA and is moving towards the higher part of the wedge pattern we see forming. The way price is forming around the corner of the triangle reminds a bit of an inverse head and shoulders pattern. For a bullish trade one should wait for a breakout of this pattern. In this case, the bullish movement would need to be strong and an entry...
Hi there. Price is forming a continuation pattern to the downside. Watch strong price action at the current price for sell.
Hi there. Price is forming a reversal pattern to change its direction. Watch strong price action at the current price for buy.
By Andria Pichidi - February 8, 2019 Canada’s job market is expected to show another modest increase to start the year, after the 78.4k surge in November gave way to a 7.8k rise in December. Canada employment should expand 10.0k in January. The unemployment rate on the other hand, is expected to nudge higher to 5.7% in January, from the 43-year low 5.6% in...
Hi there. Price is forming a continuation pattern to the upside. Watch strong price action at the current price for buy.
Hi there. Price is forming a continuation pattern to the upside. Watch strong price action at the current price for buy.
First, my preferred time frame is NOT the weekly, as it takes a great deal of patience to stick with your trade plan. However, I deem it important to understand the larger picture for this pair. The bears have been on a tear this month and I expect that to continue, albeit temporarily. DO NOT lose sight of the bigger picture, this pair is still clearly on a...
Hi there. Price is forming a continuation pattern to the upside. Wait for the price to hit the bottom of the pattern and watch strong price action for buy.
Hi there. Price is forming a continuation pattern to the downside. Wait for the price to complete the pattern and watch strong price action for sell.
UCAD staircasing its way up to the supply Zone in a loose ABCD formation, dont sell it now there are plenty of reasons to sell it in the peak supply area instead.
We are already shorting the USDCAD that is driven mostly by the prices of OIL. the chart just confirms that US OIL is set make significant gains soon as the head and shoulders patterns is nearly set for completion. Should the pattern complete we can expect the USDCAD to fall as well to around 1.3000 level. Its a great opportunity to trade OIL at the moment...
Currently trading southwards the EURCAD is trading between two crucial levels represented by the red horizontal lines in the main chart. At the Moment nothing can be said as to where the price could be headed next although trend continuation southwards is a more likely scenario. Price may either reach the crucial support of 1.5000 level and from there on it might...
Hi there. Wait for the price to form a continuation pattern and watch strong price action for buy.
Hi there. Price is forming a continuation pattern to the downside. Wait for the price to complete the pattern and watch strong price action for sell.