We will wait for a little pullback to the 1.40 level and buy from there. This pair is ALL BULLS.
USDCAD is on the warparth: December's close above the 61.8 Fib opens up the 78.6 Fib just below 1.4660. Pair has displayed incredible strength compared to other USD majors and shows no sign of stopping - momentum appears to have actually picked up in the first week of 2016. Expect a test of 1.4660 by the end of the month. The unlikely alternative, a reversal below...
A number of factors leads us to believe that the correction may have very well begun presenting an opportunity to short the pair.
Pressure is growing on oil exporters as WTI breaks below $35/barrel
short now tp1 1.3750 tp2 1.3685
My opinion for FX_IDC:USDCAD from a technical standpoint. I am waiting to see a few bars and their closes/touches.
Bonjour, looking at the monthly chart of USD/CAD , we can see that we've had a completed measure price move. In addition, price continued to head north and hit the 1.272 extension of the previous move which would corroborate the thesis that the CAD needs to take a breather here (from a long term perspective). Our members have enjoyed the great trend that has...
USDCAD still has room to go higher some. I think the move is limited and a correction is due to come. USDCAD tends to correlate with the energy sector. I would be looking for news that energy is posting gains and we should be seeing a correction start to form here.
Been watching pair closely as a Canadian. Been holding some USDollars since '13. Exchanged at bank @ 1.07 Reasons 10 Year Historical Resistance Incoming Wolfe Wave Completion Impulses in Elliot look healthy RSI Divergance Keep watching.
Here is a possible wave count for an ending diagonal forming on the USDCAD.
READ TEXT WRITTEN IN THE CHART.
We have a bullish bat setting up with good support to build on. Previous structure which has been tested several times. Continuous higher highs and strong uptrend overall. Entering at 1.32696 with targets marked on the chart. Stop loss as mentioned below previous structure.
Read text written in the chart.
Here is a very nice bearish gartley on FX:USDCAD which is going to complete @1.3340. Very good shorting opportunity with targets @1.3190 and 1.3050. As we see we have round numbers which are more likely to be reached. Our stops should go above the PRZ. @61.8 fibs we have a very nice structure . Avto_T Green Luck ----------------------------------------- www.facebook.com
With the Fed talking about raising rates, we don't have much room to go if we stick with EWP. Watch the fed keep rates as they are and we get the USD to drop. Wonder if that will set the stage for a rate hike after that?
With USDCAD clearly breaking its downtrend and since then moving strongly to the upside, I will be looking to scalp some of this upward moving momentum. To prove that the downtrend has broken, and a potential uptrend has started price action has broken above the 200 EMA twice. After the first break out price retraced to 50% of the move which is also the previous...
I often see much debate about how to use trend lines among traders. You hear a lot of people with very strict rules for drawing trend lines, however price action is powered by human interaction with the market and just as humans are not perfect the market is not perfect either. Despite how and where the trend line is drawn on the USDCAD it is unarguable that...