The price is now having a strong bullish movement. The red circle is an important point due to the fact that it faces both short term trend line and fibo level. If we have a breakout, then my first target is at 1.2557 and the second is 1.2600, where the price faces another important level.
*Here's The Link To The Video Explanation of This Trade www.youtube.com
Rather than write out a lengthy explanation for this trade, I decided to include a video break down in my Weekend Review video which will be out on YouTube tonight. The video typically takes a good amount of time to produce and upload so I decided to share this chart before it's completion....
price is pulling back into nice structure level which would be a good opportunity to get long. Buyers are clearly defending this level as they dont want price to drop into the area where Canada cut interest rates. I.ll be watching for a buy signal at this level eg bullish hammer or engulfling pattern. My long term target is still at 1.30 but i.ll be targeting...
Hi guys,
USD/CAD is the pair that is on my watching list for this week and is very interesting. The level that I am watching is 1.1917 which can a trend line from 07/2013. Also lets keep in mind that the H&S has already hit target and looks like we are in 5 waves up in this pair. Time for correction or reversal? I don't know, but thing is for sure, if he gets...
I am bearish on the US dollar, and I expect the loonie to gain ground. The BoC is not engaging in reckless monetary policy, even though, at times, traders found them absent. Canadian CPI is stronger - just above two percent YoY - than in the US, which should favor CAD.
The Fed wants a weaker dollar. The Fed said it; Yellen said it. Don't fight the Fed, right? The...
1D Chart: Looking at EOX with a few tooly indicators we can see that we are sitting at a newly formed floor, we haven't seen this positioning since Feb 2013. Using the Fib retracement tool from the bottom of this past week we can see a nice movement bounce to around $7.2- this could be a really good spot to enter as the market will either bounce into a new support...
To start up there are 2 links to my previous USD/CAD ideas both still valid and both suggesting that 1.062 level from July might be an bottom for long time.
Yesterday USD/CAD has fallen into 1,083 levels just above the green demand zone marked on my H4 chart, there's also 50% Fibo retracement of current Leg Up from 1,062 to 1,10 level present there just above...
Nothing too fancy today, just a nice and simple 2168 trade setup on the USDCAD. I'm still short this pair on a higher timeframe trade, but wanted to share this since the potential risk reward (depending on your rules of course) is exceptional.
US Dolar is on the run that's obvious fact lately, will it change or atleast run out of steam a little bit after this week GDP and Unemployment data ? That's another question. USD/CAD is in an uptrend in longer term ( atached idea with weekly wave count ) and if we would take 1,128-1,062 move as an corective wave 4 then it's time for last leg up which should...
The short term view shows a technical short term charge or potential for another at least 70 pips towards next upper resistance.
Target 1.08 at least and maybe a bit more.
The expectations for Canadian Core CPI are negative and 13 hours to go from now on until the release.
Normally the market prices in towards the expectations and when the expectations become true it pushes much more.
So therefore I think it would be profitable to go long on AUD/CAD and USD/CAD until the release.
There is potential for short-term uptrend in consideration of the bullish divergence on the MACD.
The red horizontal resistance levels would decide further movements. But for now market is bullish.
Range of volatility is expected today
10610 and 10640 from the bottom from the top
10610 break to go down to the level of price support level of 10580 and 10550, and the strong support around 10520
10640 penetrate the price goes to the level of the resistance level of 10670 then 10700 and 10730 strong level
