Prices are on bullish momentum and abiding to our bullish trendline. We see potential for a bounce from our Buy Entry at 1.27196 in line with 127.2% Fibonacci extension towards our Take Profit at 1.28480 in line with 127.2% and 200% Fibonacci Projection. Technical indicators are showing bullish momentum.
Any opinions, news, research, analyses, prices, other...
FUNDAMENTAL BIAS: WEAK BULLISH
1. The Monetary Policy outlook for the FED
Another bank that was hawkish in deed by dovish in word in their Nov policy decision. The Fed official announced tapering as expected, with purchases said to be reduced this month at a pace of $10bln in Treasuries and $5bln in MBS per month and explained that a mid-2022 conclusion is...
USD/CAD - Price may enter a correction soon. Waiting for confirmation to see if Wave 5 actually ended or if it will extend more.
If the price starts to retrace more, then it can touch the areas marked on the chart, otherwise, it can still continue on the upside for a short while.
The Content is for informational purposes only. You should not construe any such...
USDCAD is trading to the upside currently prior to the CAD Consumer Price Index data, which tracks the change in prices across a range of goods and services and is used to measure inflation. Technically the pair is holding above the moving average ribbon, and has bounced from a key support zone. We are capitalising on the strong USD bull market with this trade,...
Trade details for current trade are shown on the chart.
Using POW reversal strategy for this trade.
We are working the 30M time frame on this strategy.
We're looking for the green line which is take profit target.
Little red arrow is entry point and purple line is stop loss.
Previous trade can be seen on chart.
Trade history can be seen at the foot of this...
1) HH HL
2) Upward trend
3) Support zone at 1.24318 or lower ascending trendline.
1) Resistance zone at 1.25201 Fib level 38.20%
Plan A: One can buy from the support zone of 1.24318 for the target of 1.25201.
Plan B: On the breaking of lower ascending trendline one can take short position for the target of 1.23091
Price is near the buy entry price of 1.23678 which is 61.8% Fibonacci projection and 38.2% Fibonacci retracement. Price can potentially go to the take profit level of 1.24987 which is 61.8% Fibonacci retracement and graphical overlap resistance. Our bullish bias is supported by the ichimoku cloud indicator as price is trading above it.
Any opinions, news,...
here we can see USDCAD 4h chart! every thing is in our hand! and every thing is obvious, but lets analyse this chart.
as we can see there is downrend line(white line) and the price has been touched the line and continue this trend... but there is something well for sell here, as we can see i drawed a rectangle (with 2 yellow line) that the price broken the down...
CAD – The Canadian dollar strengthened on Wednesday after the Bank of Canada signaled it could hike interest rates earlier than previously thought and become the first central bank from a G7 country to exit quantitative easing.
Reuters notes that markets now expect the BoC to begin hiking rates as early as March due to the central bank bringing forward its...
(H4) - USD/CAD looking very bearish right now, we failed to hold below support of 1.23465 however soon as we came back up to that trendline price hit traffic attempting to push higher and failing. We have multiple wick rejections, indecision on the bearish trend and now we have seen that bearish push. Looking for targets down to 1.23202
(M15) - USD/CAD already...
Price has broken above our pivot level at 1.24236 which is in line with 100% Fibonacci extension level & horizontal swing low support . We could potentially see a further rise from here towards 1.24985, which coincides with 38.2% Fibonacci retracement level, 23.6% Fibonacci retracement level & horizontal overlap resistance. Finally, we can expect...
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