There was a significant "blowout" movement in USDCAD prices this past quarter, but I have a hard time changing my fundamental assessment that the Canadian dollar should remain overall weak against the greenback this year. Technical analysis currently supports a bullish hypothesis on this pair as prices recently rebounded on a long-term trend line. Note the...
The US Dollar fell to a four-month low last week with prices testing 94.50 support on dovish FOMC meeting. But prices managed to reverse their losses with the Dollar Index posting steady gains, for the most part, this week. Prices rallied for nearly four consecutive days after falling to the 94.50 support. The gains in the US Dollar came about as various Fed...
Hey Guys, this is my first post and by no means a pro by any stretch, looking to get different views/ confirmations as well as advice if wrong. i believe a 5 wave structure of a lesser degree has just completed and now looking to make another impulse as the correction may be coming to an end with a bullish wedge consolidating near the 38.2% fib level of the...
I'll retry my short set-up on usd/cad. Let's see
I see a run down to 28 dollar to form a double bottom formation.
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USD/CAD Long 1st target (38% FIBO)
We think the USD/CAD will continue to face further weakness next week. Some importants levels have been broken last Friday. Check out our full analysis at www.ichimokuforex.com Do not hesitate to comment or like if it is the case! Jesse
I am Bullish, Anticipation kills. It is more of the trade what you see. It is clearly a break out. Better long or add long, only. It is obviously that Bulls are in control unless 1.405 get broken again. Money from Stock are pulled out and dump in treasury bonds/. Level to watch: Support 1.4050, 1.40,Resistance level 1.4176
Sell the support breakout.
Please do not follow my trade and analysis. I'm just a beginner :) - Some kind of divergence on 15 min chart. - Retrace from trend line - Enter on pinbar candle Do not hesitate to comment ;)
USD/CAD has fallen quite sharply since the beginning of the month, and prices are pulling back towards some technical levels that may provide support this week. Watch for signs of selling fatigue to set in around 1.2800/70. Note the daily RSI fairly close to 30 in a prevailing uptrend (this is just complementary info). If prices do bounce like I'm expecting,...
Short @ 1.3385 (bearish butterfly) TP @ 1.3340 SL @ 1.3415 Option b (trade with trend) As price is trading near yearly highs, so we know price can spike to upside.....But only buy above previous high breakout.... Buy @ 1.3420 TP @ 1.3520 SL @ 1.3320
Only short @ 1.3100, as it looks we have a double top in USD/CAD, but just to be careful, i would short it with a pending @ 1.3098 As currently it's ranging in 60minute chart....Neckline in this is around 1.3111 So to short a double top, you have short it below the neckline.... Short @ 1.3098 SL @ 1.3200 TP @ 1.3056
Technically mega trend (monthly+weekly+daily) is up. Sideways movement would be between h1+h4 on Wednesday as we have FOMC statement+ Fed Fund Rate. So, if no interest rate hike from U.S, on Wednesday than could see it come alittle down around 1.2920. As price is currently extremely overbought, Option 1 Pending Sell Order @ 1.3200 : SL @ 1.3700 TP @ 1.2700 ...
There's currently a clear negative divergence on USD/CAD, which gives me the impression that the CAD will start rebounding (already has against the GBP). EUR/CAD might be a good short candidate below 1.43 while USD/CAD could very well fall back below 1.29 with this divergence. Please see my related idea on EUR/CAD for a possible CAD long strategy.