Price is currently hovering above a key support zone at 1.3350 on the H1 timeframe. A throwback to this support zone, which coincides with the 78.6% Fibonacci retracement, coupled with a break above upside confirmation at 1.34 could provide the bullish acceleration to the resistance zone at 1.3520, in line with the 200% Fibonacci extension. Price is holding above...
On the H4 timeframe, prices are testing a key resistance-turned-support zone at 1.3580, in line with the 23.6% Fibonacci retracement. A throwback to this zone could present the opportunity to ride the bounce to the resistance zone at 1.3680, which coincides with the 38.2% Fibonacci extension. Stochastic RSI is in the oversold region below 20, prices are holding...
On the H1 time frame, prices are showing bullish order flow with higher lows and higher highs formed. A throwback to the support zone at 1.3520, in line with the 23.6% Fibonacci retracement could present an opportunity to play the bounce, with 1.3650 as the resistance target. Prices are holding above the Ichimoku cloud, and Stochastic RSI is in the oversold region...
On the H1 time frame, prices are testing a key resistance zone at 1.3450. The current squeeze in Bollinger bands could be followed by higher volatility. A break of the 1.3450 level would be an upside confirmation, which presents an opportunity to play the breakout to the next resistance zone that coincides with the 61.8% Fibonacci retracement at 1.3550.
USDCAD saw a downtrend until it came to test the 1.32200 support zone, where we also saw a double bottom formation with a break above its neckline at 1.33200. Price rebounded, only to tap the 1.33200 resistance zone, and proceeded to oscillate between the two zones between 14-17 November. Finally on 17 November, weak Canadian inflation and buoyant US retail sales...
Hi traders, USDCAD is setting up for a upside move i am expecting from price to come around our mentioned area and looking price action for a long position opportunity GOOD LUCK.
Welcome back to another video, today's video is about analysing the NASDAQ (NAS100) using the monthly, weekly and daily timeframe to understand and see price movements for possible next direction (either downwards or upwards trend).
P.S NOT A FINANCIAL ADVISOR... JUST EDUCATIONAL AND LEARNING PURPOSE ONLY...
The USDCAD is strong as Dollar Index started to rise. I am looking more bullish momentum on Dollar Index. It is better to look buying opportunity on it.
The market of USDCAD is standing on very key resistance point, there is some chances of falling from the current price but we can't ignore that USA has increased it's interest rate to control the inflation in the country. So USD will remain strong for the next week.
UsdCad has been in a bullish considation zone since June 2017... For the past 4 months its been gradually falling but i see opportunity to hop back into a perfect buy for the next few weeks off a double bottom on the Daily which is touching a monthly resistance, so possible swing trade for 600+ pips
