In the existing downtrend of the USDCAD currency pair, there is a distinct possibility that the exchange rate may approach and test the support level at 1.31142, unless there is a significant breakthrough in market dynamics. The technical analysis of the market structure points towards a potential pullback, implying a temporary reversal in the prevailing downward...
The USDCAD trend remains downward, presenting a chance to test the 1.31142 support level unless a breakthrough occurs. The technical structure suggests a potential pullback, so contemplate purchasing in on Support
In the ongoing downtrend of USDCAD, there's a likelihood of testing the 1.31142 support level if no breakthrough occurs. The technical setup indicates...
There are several reasons why we could see a bullish move in the USD/CAD currency pair:
1. **Moderating Canadian Inflation**: Multiple sources, including RBC Economics, NBF, and CIBC, suggest that Canadian inflation is expected to moderate in November. This is primarily driven by factors like a drop in gasoline prices, easing food price growth, and a slowdown in...
Share your idea in the comment section of this pair and let's debate
Good Week, Michel_FRX
DISCLAIMER:
1. Be aware this is not financial advice so trade carefully and have stop loss for sure
2. Past performance is not indicative of future results
USDCAD fell out of the bull channel as predicted from last week's analysis and hit the profit target of 135.500. We are now sitting on the 200EMA with no sign of support, do we short?
How do we trade this? 🤔
We do not short! We're on potential support, the RSI is at 32.00, we haven't had a good pullback in 10 bars, best to wait on the sidelines. What we...
Hello traders, we want to check the USDCAD chart. The price is moving in a descending channel and has reached a key level that the price has reacted to several times in the past. We expect this level to play the role of a support level and the price will grow to around 1.34900. Good luck.
✍️ NOVA hello everyone, Let's comment on USDCAD price next week from 4/12 - 8/12/2023
🔥 World situation:
The Canadian Dollar (CAD) is currently experiencing upward movement in trading on Friday, once again strengthening against its primary counterpart, the US Dollar (USD). This comes after Canadian employment data surpassed market expectations by a...
. Don't forget about stop-loss.
Write in the comments all your questions and instruments analysis of which you want to see.
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P.S. I personally will open entry if the price will show it according to my strategy.
Always make your analysis before a...
It is located in a contraction triangle, which can continue its growth until the previous supply area. In the green support area, it has 4-hour and 1-hour time frame support. Therefore, it is possible to enter a buy trade with a risk to reward of 2.5.
This is for short term
Marked Possible Buy zone
Once Reached Entry zone Look for Liquidity sweep and BOS in LTF then Enter
And this is risky too.
Please DYOR before entering the trade.
The US dollar faces its biggest weekly decline in months against the euro, yen and franc. This comes after investors began selling in anticipation of a near 100 basis point interest rate cut in the United States expected next year.
By Friday, the dollar had fallen 1.6% from a week earlier, trading at $1.0854 against the euro, its steepest decline since...
USD/CAD bounced nicely off of 1.36300 for a nice 200+ pip run to the upside. We ended last week with a Daily Pin Bar Bear candle, and DXY (Dollar Index) was in a trading range. Where does that leave us for this week?
First, we're in a bull channel which means the probability of profit is in the bull's favor. I am looking for a long entry and have no interest in...
I have marked out a potential Demand Zone after the market has broken previous structure towards the upside. So far my POI has been respected and I am waiting for lower timeframes to shift into a bullish momentum.
Will publish lower timeframe chart below.
Speaking on Tuesday, a number of hardline Fed members hinted that the economy may be weaker as a result of the tightening of financial conditions since July, which has seen a rise in 10-year Treasury yields of more than 100 basis points. However, it will take more time to determine if this effect is sustained.
"Inflation has decreased somewhat, but it is still...
USD/CAD has finally broken out of the bear channel/bull flag and closed near its high on the Weekly chart. Current price is at 1.38750 with a nice gap to fill at the bear channel high of 1.40000. This is an ideal Daily or Weekly scalp, placing your stop below the channel top of 1.37000 or the Weekly 9EMA. That creates a Risk/Reward Ratio of 2:1, which means your...
Educational Analysis says USDCAD may go long according to my technical.
This is not an entry signal. I have no concerns with your profit and loss from this analysis.
Why long?
Broker FXCM.
After Ranging on the daily timeframe, A 4-hour time frame Made a Recent Upward Impulse Move that broke recent resistance and went for a new high,
Long setup after eating stop...
Hello traders, this is a complete multiple timeframe analysis of this pair. We see could find significant trading opportunities as per analysis upon price action confirmation we may take this trade. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
