Here we have price at key support and very close to a strong trend line, this is a trade that could have a very tight stop loss in place just below the trend line.
Now we can see price making a run up to our resistance zone which is around 60 pips away and this is where our take profit will be placed, so this trade has a decent risk to reward ratio.
We think that...
Hi guys its Brian here with a long opportunity for USDCAD
As you can see from the chart, USDCAD just bounced off the blue support zone and had a couple of strong green candles. Everytime price bounced off the support in the past, it has always gone back to the green zone so if the trend continues, we are likely to see prices go back up to 1.35 onwards and this...
Will be looking at the PRICE ACTION near support. There are two SUPPORTS, one at 1.3380 and the other at 1.3338.
I will be looking for BUYs if price reaches these SUPPORT LEVELS and target 1.3520 as TP.
Breakout + Retest has been made on D1 chart , time for a long way down i would say !
Join our free group down below for daily analyses & signals !
The loonie looks primed to take ground over the greenback not only in terms of technicals, but also fundamentals.
This week, on the 19th, the Fed will give us insight into future changes in the federal funds rate, with most language being dovish recently. They probably won't lower it this upcoming week, but rather do it in late July and once again in Sept. As of...
We have weekly resistance, strong daily trend line and price has been ranging in a zone for the past 7 weeks.
We feel price will break out the zone to the downside and break through the trend line making explosive bearish movement.
This is not a signal and we are not in this trade at the moment, but we will notify our VIP clients once this trade does become valid.
This is just an update.
Since my last post USDCAD has set a higher high and this made a second touch on the declining RSI trend-line. Coupled with the big rejection (wick to the upside) this further confirms my bearish expectation for USDCAD.
On the 15 minute timescale, I count a small 5 wave downward correction from the high set yesterday. A good entry point...
Expecting a move down on USDCAD
I'll be looking at around 1.31500
for SHORT take Profit.
Be careful as this could definitely test
the previous Top of around 1.36191
Please share your thoughts and views on my analysis and don't forget to like it and share with others.
Still within the rising channel, as long as there is no exit from this rising channel we remain in a buying position, the best time to buy is as close as possible to the support line.
Entry price: 1.3427
Stop loss: 1.3250
Take profit: 1.3660.
Ucad played out as anticipated, i was hoping that it would go lower before getting into buys but the news didn't push it low enough for me to take any positions. We now have a daily confirmation of where it's going to go next so i've set up my buy limit order on the H1 demand zone, hopefully price activates it before continuing back up.