This pair is bearish for me looking at the weekly chart, strong bearish candle inside an ascending channel. Therefore bearish short term. A break of the lows inside the yellow box could run it down to 1.25500 support, but a pullback is needed first! Just be wary of double bottoms and tops being formed which are also apparent on the daily timeframe too.
Price Action: Neutral
Pattern: Asymmetrical triangle
Long-Term Momentum: Bullish
Short-Term Momentum: Bearish
Bias: Neutral
Action: Wait until price breaks trend resistance or trend support to indicate further price momentum.
Comments: Do not trade this pair until further confirmation of price action
Price Action: Neutral
Pattern: Rising wedge in corrective phase
Long-Term Momentum: Bullish
Short-Term Momentum: Bearish
Bias: Neutral
Action: Wait until price is trading above monthly resistance and trend resistance
Comments: Price can go either way in this structure. I would prefer that price break to the upside, but chances of that are similar to price...
Price has been in a nice bullish trend since late 2012. It had an exponential runup all of 2015 and has since cooled off and corrected. Price is approaching a critical point in the structure. If there is a break above the 1.30 level, this would indicate that bullish momentum is continuing, but there is a probability that it will reject the 1.30 area and continue...
Hello traders today we are looking at #USDCAD, we have broken trend line #1 because of that we will only look for #long positions.
It looks like we are about to either break or bounce of off the break trend-line #2, because of that we will look for any #Long positions. If trend line is broken (daily candlestick) this trade set up will no longer be valid.
If...
Hello traders let' s see a very profitable and high propability short trade on USDCAD!
Let's see why a short trade is possible at these levels.
TECHNICAL OBSERVATIONS
1.Price after that relief rally to the upside is showing bearish behaviour with this inverted hammer which was created today.
2.Price is at critical level as at that same level we have the neck...
Pending Short @ 1.3050
Stop Loss @ 1.3200
Target @ 1.2260
RR Ratio @ 5.27
Trading involves substantial risk of loss. I'm just providing insight into what trades I'm taking.
Aggressive and conservative Forex strategy worked perfectly as well as the levels. Now probably a little bit of correction. Those who came at the bottom can safely move the stop to breakeven!
Looking at USDCAD H4 Chart, clearly it's been a strong downtrend for few weeks and created a 8-weeks low at 1.25249. Beginning of last week USDCAD was clearly showing a strong selling volumes control over the market and the momentum stopped by 11/4/2018 and over here I would assume that most of the selling volume had TP.
Thus, with the information that I have...
in the last idea I gave a forecast for the completion of the correction and the zone for aggressive buying in long. As you can see she's worked. Also at the moment there is convergence at the end of the correction. Most likely the trend will continue. Resistance levels as well as targets are marked on the chart. Formed a diagonal triangle. Also do you remember...
NFP results for USD were not good today and employment change results in CAD was better than expected.
It is very possible USD/CAD is now in a short trend as indicators and candlesticks indicates.
If the 200 EMA is broken, then it's going to go down until it finds support and the trend changes.
Hello, From my eyes i see that time for entry for LONG POSTION for USDCAD. Because really near support area and yesterday market close with DOJI. It mean, price gonna change direction for continues FOR SHORT a bit. If you guys had some idea just post it on comment section below.. We will discuss about this for long term projection.
