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.
Hello y'all! Hope you guys are enjoying profitable trades. Many of you already aware of the last move where it nicely got the support inside the correction & moved up! Now the move up (which is within the corrective part) is almost came to an end. Sooner or later we may see another move down for the short period of time! If the price breaks the inside ascending...
USDCAD is approaching its support area, we can expect a bounce soon.
Buy above 1.2744. Stop loss at 1.2603. Take profit at 1.3122.
Reason for the trading strategy (technically):
Price is approaching its buying level support at 1.2744 (38.2% Fibonacci retracement, 50% Fibonacci retracement, 61.8% Fibonacci extension) where we expect a bounce from to push prices...
Hello friends
USDCAD was in the daily corrective structure.
Now its break the corrective structure.
For that, I am looking for sell setup.
I posted USDCAD analysis on 22 January.
Which was working exactly the way I thought.
Watch update for better understand the future view
USDCAD has broken our ascending support line triggering a bearish move from here.
Sell below 1.2974. Stop loss at 1.3052. Take profit at 1.2731.
Reason for the trading strategy (technically):
Price has broken our ascending support line triggering a bearish exit. We look to sell below major resistance at 1.2974 (Fibonacci retracement, pullback resistance) for a...
The Pair is trading 1.28560 as of writing. The midterm trend is Bullish.
Short term: H4 CHART
Price is below EMA 50 and EMA 100. We may see a correction. Possible pullback levels: 1.28750, 1.29250.
The main bearish scenario will start with the breakout of 1.28000.
If the pair makes a daily closing below 1.28000, the targets will be 1.27300, 1.26020 and...
i short usdcad for 2 fact ;
1 he is overbought
2 have a rsi divergence in h30 and h1 'if i remember
3 Cad underperfrom much since a week
so i bet on a pull back and will open 2x 1 lot of 1 target ,the target 1 at 1.3040 =23 pips will be easy and i will cut 1 lot and make a stop loss at +15 pips for the 2nd lot to try to go tp the target 2 at 1.3000 psycholical...
USDCAD has broken upside resistance. However we feel the Red Zone & RED Line will be strong Resistance area for further upside. We expect USDCAD to test the Blue Lines and retest the recent high and potentially red zone. Scalp between both lines for both side trades.
The US Dollar has been motoring over the Loonie for a while now and it has reached a demand point which has shown to be a turning point. We could see this pair going down to possibly 1.25000 psychological level.
