USDCAD H1 | Bearish ReversalBased on the H1 chart analysis, we can see that the price is reacting off the sell entry, which is a pullback resistance that aligns with the 50% Fibonacci retracement and could drop from this level to the downside.
Sell entry is at 1.4033, which is a pullback resistance that aligns with the 50% Fibonacci retracement.
Stop loss is at 1.4058, which is a multi swing high resistance.
Take profit is at 1.3997, which is a pullback support.
High Risk Investment Warning
Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you.
Stratos Markets Limited (tradu.com ):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 65% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Europe Ltd (tradu.com ):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Global LLC (tradu.com ):
Losses can exceed deposits.
Please be advised that the information presented on TradingView is provided to Tradu (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd.
The speaker(s) is neither an employee, agent nor representative of Tradu and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of Tradu or any form of personal or investment advice. Tradu neither endorses nor guarantees offerings of third-party speakers, nor is Tradu responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
Sud
Potential bearish drop?The Loonie (USD/CAD) has rejected off the pivot, which has been identified as an overlap resistance and could drop to the 61.8% Fibonacci support.
Pivot: 1.3688
1st Support: 1.3599
1st Resistance: 1.3743
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
EURUSD: USD Consolidation will continue until 1.30-1.31EUR is gaining value against USD and this is irritating ECB President Draghi. ECB President is betting on a scenario where with a low value of EUR against USd and because EUROZONE is depending on commodities import, the devaluation of EUR against USd would create and imported inflation. But there is a problem on that rational. Draghi didn't foresee the fall of the commodities prices......
Therefore he will have to intervene in a more severe way on the exchange rate.
At the present, there is a consolidation of USD against Euro, but this would not break the general trend which is at max 1.307-1.31. Above athat level ECB would intervene and any way it has to do so. The target of EUR against USD was 1.20-1.25 but because of the low price of commodities, ECB may have very muc hreview the target to 1.10-1.15 in order to import proper inflation throughout commodities prices.
Let's wait and see. But first a move towards 1.30xx. Then a fall down bellow 1.20-1.25




