I stated in my the deal that as far as prices are above 1.28, we will see rebound.. so today prices broke below 1.29 and tested old support of 1.28 and 1.2835.. by going 1.2858 which resulted in strong rebound. As far as usdcad close daily above 1.28, I see another rebound towards 1.40. Daily close below 1.28 will start new downtrend for 1.20 and below.
USD CAD LONG - ADDED TO WATCHLIST, ARRIVED AT PREVIOUS LEVEL, PRICE EXTENDED
additional to weekly chart possible false breakeout or can be denied and reversed back to shorts
to good to be true . so what we got ? 1, move averages as confirmation 2. weekly caldle bulish eat the bears alive. 3. oscilators tell us we so oversold 4. fibonachhi levels 0,5 and 0.618 at 1.40000 and 1.38000 levels of the price.
USDCAD targets 1.3776
We just had a correction in trend and we pull back to number 1 and 4 in the elliott wave and hit a good support line. If we bounce of i will buy if we pierce through the strong support line i will get out quickly. Leave a comment :)
The US Dollar fell to a four-month low last week with prices testing 94.50 support on dovish FOMC meeting. But prices managed to reverse their losses with the Dollar Index posting steady gains, for the most part, this week. Prices rallied for nearly four consecutive days after falling to the 94.50 support. The gains in the US Dollar came about as various Fed...
USDCAD cut MA8 in a bullish manner. Given strength in USDollar Index (in blue) and drop in USOIL (in Red) and the strength of this momentum. Possible reversal in the last 3 months trend. Fundamentals concur - Look at my post about excess OIL inventory buildup. Till that Glut is over, the long term direction for CAD will be down except for weakness in US...
Basic divergence movement has occured in 4h chart. Breaking up 1.3322 point is first strong buy signal and 1.3392 is the next. We wish you all have a profitable trade! Adim Adim Forex
A chart speaks a thousand words! Entry was spot on...! :) www.tradingsignalreviews.com
MOEX:USDCAD . Eventual ABC correction, targeting $1.31 price zone; . Eventual Bullish Bat or Gartley pattern between monthly resistance @1.34555$ and monthly support @1.28310$; We just need to wait for the end of correction; Short B to C, Buy the Harmonic; IF=THEN BAT: Point B: 38.2% to 50% XA Point C: 38.2% to 88.6% AB Point D: 88.6% XA Targets: TP1 38.2%...
FX:USDCAD resistanceD1 - 1.35862 resistanceMN1 - 1.46892 resistanceW1 - 1.46892 ----------------------------------- supportD1 - 1.36617 supportMN1 - 1.28317 supportW1 - 1.36393 Safe Trades; open.spotify.com
Always know your levels. Look at $USDCAD, pin point 200MA support and reversal. #Oil is also cracking. $USO $DWTI $UWTI $WLL $SDRL