So far price from last week has seen a bearish price break to the lows of 1.33400 from around that area price has come back up off some support. The forecast for this week is price to come up to that daily resistance of 1.34364 and and we want to typically see a break of the trend line (4HR) to the downside. Just will be patient to see how it develops.
Deficit of oil inventory in U.S data brought the pair down to support. Support has been holding, and a bullish candle is visible on the 4hr chart, creating a potential long entry.
The Canadian dollar and crude oil is the inverse relationship, if crude oil continued to decline, the Canadian dollar will continue to weaken. So under the premise of falling crude oil prices, we can not make a choice to buy Canadian dollars. I prefer a price correction to re sell the Canadian dollar.
I hold a point:Good charts does not more words to explain! Good luck!
We take long position at 1.3125 and book profits at 1.3250.
Price just this past week hit a key support area on the daily chart, now we just need a little bit of patience for price to give us the right confirmation for it to come to show signs of continuation to the downside. BE DISCIPLINED AND WAIT! Click to join: t.me Need one on one guidance? Let a trader help! www.blueprintforex.com
Will be waiting for confirmation on a strong bearish movement
a break below here will unfold the move towards 1.2820 and 1.28, 1.25 is the extension there which will be unlocked once we see a break below the neckline. The 1.34 handle is there to be respected, RSI also looks to break below here to further activate the waterfall. Gl and please remember to give this idea a thumbs up!
USDCAD price finding back the demand area, where buyers try to get as lower as they can to fulfil their orders. We will see what will happen when it touch the zone. Low SL, high expected TP. GL..
Major Daily Trend is bearish.. The pair may retrace and continue further down.. We expect the pair hit the target this week... Happy Trading.. MM 1st.. Good Luck. Send us comments...
We take short position at the opening of the market. ENTRY: 1.30200 TP: 1.29700 SL:1.31500
Here's my long setup on this pair. To keep it simple, I'll buy if price closes above the red and the blue line.
too lazy to explain why i'm selling but i'm selling. Higher time frame says it all. nice RR on this one.
That's the way I see things , Geometry helps me to define some idea to create a Cypher pattern. Also a bullish teacup is in perception as well combined with a Overbought RSI . We will see what it looks later. Thank you for your support.