USDCAD 1h TF - Possible bullish bat, if reach 1.25 price level
USDCAD 1h TF - Possible bearish bat. Completion around the 1.267 price and S&R level
USDCAD 1h TF - Bearish bat completed
I messed up the original post for this so I am trying again. The Canadian Dollar has rebounded well against the British Pound leaving a bigger picture demand zone below @~0.5140. Price is now coming to an area where there might be a sharp decline away. This supply zone @~0.5360 is also the 50% pullback area of the original down move indicated by the red...
January and February saw the Canadian Dollar fall to below 0.52000 against the Great British Sterling. March has seen some revival as the pair is correcting itself - possibly to a 50% retracement of the down move. This move should be halted by the supply zone marked out by the red horizontal lines. We should see a bounce off this area. The March move is...
CAD/JPY has been in a dominant bearish trend since December 2014 as the breakdown in the Canadian Dollar, largely influenced by the crash of oil prices, has crippled the currency. January 2015 resulted in an absolutely massive bearish engulfing bar on CAD/JPY, February offered us a nice bullish pullback, and now we have the continuation pattern in play. We have...
USDCAD has been consolidating in a descending triangle similar to the EURJPY one that was broken out of last week. The descending triangle suggests a break down of prices. There is an overlap of intermediate supply zones and the downward sloping trend line which suggests confluence and gives confidence in the play. Price should break out strongly out of the...
Canadian Dollar devalues as long as Oil dropping and US Dollar strengths. So I see no reason to short Lonnie exact the opposite. Long positions are welcome. Other facts to mention Canadian jobless rate dropping to 6.6 % in January 2015 from 6.7%. But Consumer prices in Canada dropping too 1.5 percent year-on-year in December www.tradingeconomics.com and in...
Historical price action has been quite consistent and I see no reason otherwise for this to change at this time. Upside break of the weekly triangle should result in a re-test of resistance now turned support in which to initiate longs. I have longs at 0.8888 and at the aforementioned 0.9150 with a potential target of 0.9840. In both previous cases a nice 700 pip...
Intraday Bullish Butterfly opportunity on CAD/JPY provides good Risk/Reward for pair.
Entry = + CCI cross. SL= D point @ 94.44 TP1 = 100% fib @ 95.25
Entry = - CCI cross. SL= D point @ 0.9325 TP1 = 100% fib @ 0.9191
Entry = - CCI cross. SL= D point @ 1.2455 TP1 = 100% fib @ 1.2378
Entry = - CCI cross. SL= D point @ 0.9494 TP1 = 100% fib @ 0.8614
Entry = + CCI cross. SL= D point @ 93.93 TP1 = 100% fib @ 106.45
Entry = + CCI cross. SL= D point @ 94.35 TP1 = 100% fib @ 95.4