Price broke major channel. Believe price will head down to touch 1.3076 support level.
USDCAD managed to break the medium term trendline that acted as a springboard from October. As long as we get a close below the trendline we target previous swing lows at the 1.3379 area and then support at 1.3300-1.3266 area. Please have a look at the related idea for a longer term possible outlook. A close above the downward sloping trendline means trouble for shorts
Today London session tested yesterday spring. Market can go higher.
The USDCAD has been on a serious up trend today. We believe the pair will continue to rise and test the 1.3304 level.
Hey traders! The bearish move toward gartley completion carried out as predicted and we now have a complete five wave impulse structure. I want to see some bullish price action before continued bearish movement. Therefor, I will be selling the pullback to the trendline violation area. I will likely be using this position as a hedge for the EURUSD 4H short...
Hey traders! I like a short position here as we're riding a trendline and there's a missed pivot below price. On the daily chart, we have a big bearish candle following a pinbar, a clearcut reversal pattern. I want to be short on the pullback toward the completion of a Gartley pattern. If price breaches SL but does not hit invalidation level, I may re-enter...
As we see there has been a break on Daily channel. I believe price action will go down to next major support key level 1.3134.
Going long on a retest of the .32450 level (61.8 Fib Level). Pair has been bullish for a while now. OPEC news didn't do this pair any favors. Canadian Housing News comes out tomorrow. Thoughts?
I am with BULL side of this pair. It has nice Higher High and Higher Low. It should go to 1.336x regions and as extended case. Trade Safe s0nic
ECB's manipulations exposed. "Central banks manipulate rates". Yeah, everyone in business have heard this mantra. Although many have misconceptions about central bank manipulations, it is a fact! And I have good news: IT IS POSSIBLE TO SEE THEM MESSING WITH THE MARKET. It's all in charts. Prices don't lie. Everybody can see it! The only thing required is proper...
It seems nothing can stop the USDCAD rally. Crude oil highs? Nope. Great data releases? Nope. American jobs below expections? Nope. 1.33 technical level resistance and supply? Perhaps, though will likely breach with current momentum. Fed intransigence on raising rates? Nope. There seems to be simply an impulse higher on a Canadian interest rate cut possibility...
Did you follow my Long call on UC? Well Congrats to you. It has touched our initial target of 1.33, to hit our TP. Going forward, Market is still in BULL for sure. Before I want to add new long, I want to see the price steadily stays above 1.33 first.. Trade Safe S0nic
USDCAD failed to close above the blue line of 1.32417, which is strong resistance, though challenged and broken, shows that bulls dont have much power to break upside. Challenge of the bottoms is in play now, and we can ride the USDCAD bus down for decent $$$. See you there
Loonie is the track to reach 1.3330 target level as expected. Now the market is Risk On , favor of USD, Trade Safe s0nic
Loonie is currently correcting. Bearish divergence on RSI. I'm expecting this to continue upward and complete the 5th wave of the flat correction. Waiting for confirmation of the reversal somewhere below the lower trend line (perhaps a pullback of some sort). The E wave may not be the last leg of this correction, so expect more sideways movement.
XA Is the initial Breakout Impuls of the multimonth Flag Pattern. ABCD We are seeing another Breakout Flag pattern above the larger one. ABCD also can be seen as a textbook Gartley pattern. Natural target would be around 1.50 level. My entries are: Buy 1.4485 Stop 1.4380 Target 1.4990 To be honest, i am liking this setup very much, and i also think the...
XA Is the initial Breakout Impuls of the multimonth Flag Pattern. ABCD We are seeing another Breakout Flag pattern above the larger one. ABCD also can be seen as a textbook Gartley pattern. Natural target would be around 1.50 level. My entries are: Buy 1.4485 Stop 1.4380 Target 1.4990 To be honest, i am liking this setup very much, and i also think the...
My previous analysis foresaw the current up movement. (SEE RELATED IDEAS). This chart you can see the detail of the wave. Good luck!