1.6200 is now a very strong support area. Watch for a dip to buy this pair. We can see a move into 1.75 over the coming months. The bulls were not able to close above the 1.6200 area for several weeks, but now they were able to break it, so dips there would be a great buy. I am generally seeing alot of upside potential for the GBP over the coming period. Give...
Hi traders: This week I am looking for a long opportunity on GBPCAD. We can see that on the 4 hr chart, the price action is over extended to the downside, and a pullback/correction is needed. We can wait for a bullish flag or higher low on intraday chart to confirm the bullish momentum this week. Thank you for your support and feedback Joe
We will be having rate decision on CAD in few hours time. I am seeing massive Sell side of CAD is brewing. e.g. xxx/CAD shall rise further. There isn't much of Price Action to support but it can unfold to the bullish side of xxx/cad pair quickly. Trade Safe, s0nic Disclaimer : This analysis not include personal feeling/opinion, and pure base on...
As we can see the pair has just possibly finished a Flat ABC correction (Wave 2), of what seems to be a new Cycle of motive waves to the upside. Therefore I'll be considering a Long position all the way up to the 141.4% - 161.8% extension of Wave 1. Trade safe and implement your own due diligence before executing a trade. For further details join us...
Now everyone hate USD. I think it "may" be priming for short covering rally. It may not be a start of uptrend but at least a possible swing back. I expect the region near 1.24 will be highly defended. If you have play weakness of USD, try looking other pairs.. not USD/CAD Possible Swing up from that level. Wait for it. IF you ever take any Long position, it...
For my 50th tradingview idea I've decided to make a special analysis on an old pair of mine and one of my old favs. USD/CAD has been in a long and strong downtrend after Oil news has been positive but the largest impact was made due to a interest rate hike for the first time in awhile. Now that the trend has lost some momentum and hit a major support zone that...
CAD/HKD 1H Chart: Channel Up The Canadian Dollar is trading against the Hong Kong Dollar in a two week long ascending channel that started to form after the currency rate left a preceding ascending channel. This pattern is not usual, as it consists of many reaction highs and only one reaction low. The reason behind such distinctiveness is attributed...
Ascending Triangle This type of triangle chart pattern occurs when there is 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 evident by the higher lows.It seems cadjpy is making a compression sell . its...
Daily outlook - USD/CAD down 1.09% The USD/CAD currency exchange rate had a quite turbulent Wednesday, as the Greenback depreciated against the Loonie by 1.09% and, in the result, broke through the southern boundaries of a medium-term and short-term channels. To a large extent the downfall was caused by disappointing news coming from both the White House...
GBP/CAD 1H Chart: Channel Down The British Pound is losing value against the Canadian Dollar in a two day long descending channel. The pattern was shaped by a reaction on release of information on the UK CPI and Average Earnings Index. At the moment, the currency pair struggles to pass through the support level set up by the weekly S3 at 1.6268. ...
CAD/JPY 1H Chart: Channel Up The Canadian Dollar is recovering against the Japanese Yen in a short-term ascending channel that formed in the result of a change of the one month long downtrend. At the moment, the pattern consists from two reaction lows and only one reaction high. Since there will be no significant macroeconomic data releases in the...
Daily outlook - USD/CAD finds support at 1.2674 In accordance with one of the scenarios expressed on Friday, the USD/CAD currency pair found support at the 1.2674 level. After spending some in a limbo between this support and a resistance set up by the updated weekly PP at 1.2689, it made an expected breakout to the top. However, now, when the markets...
Hi everyone: My previous pullback long trade on USDCAD has given me 5:1 risk/reward ratio profit, and I exited the trade around 1.2720. Now the price action has pullback to 68.20%, and the bearish continuation can be happening this week. I am looking for some bearish price action to form, a bearish flag, or double tops to confirm the entry. Looking to target...
GBP/CAD 1H Chart: Channel Up The British Pound is trading against the Canadian Dollar in a short-term ascending channel that formed in the result of a 78-pips appreciation of the Loonie three days ago. At the moment, it consists of two reaction highs and two reaction lows and, thus, might cease to exist already in the first half of the next week. ...
This pair has moved on the way that we expected. Nice run up we have. We are still bullish on the pair on the medium term. Currently, it is at the decent ranging zone. The pairs may retrace or is going side way, but overall it will still end up higher. Trade Safe, s0nic Disclaimer : This analysis not include personal feeling/opinion, and pure base on...
Daily outlook - USD/CAD trades around 1.2676 Tuesday’s evening the currency exchange rate spent in an expected horizontal movement along the 55-hour SMA towards the bottom trend-line of an active ascending channel. At some moment, the pair has entered into a four hour downfall and has practically sneaked from the pattern. However, a combination of the...
We can see that the pair has broken through a previous Major level of Structure, yet it was not able to close above it. Instead it came back down and closed beneath which makes me believe that a decent correction is in the making and that the bulls have lost some momentum. TRADE SAFE AND DO YOUR DUE DILIGENCE BEFORE ENTERING A TRADE.
NZD/CAD 1H Chart: Channel Down The New Zealand Dollar is losing value against the Canadian Dollar in a short-term descending channel, which started to form after the Kiwi appreciated by 0.9% just in one trading session. In the beginning, the currency rate was moving quite sharply amid macroeconomic data releases and, for this reason, stayed indifferent...