The Ivey Purchasing Managers Index (PMI) in Canada, which measures the month-to-month variation in economic activity, dropped to 56.8 (seasonally adjusted) in April from 58.2 in March. However, this was a smaller drop than the market had expected, with the consensus forecast at 54.8. Following the release of the data, USD/CAD initially moved towards daily lows but...
1. Double top being formed indicating a trend reversal. 2. Divergence on RSI 3. Lower High and Lower low being formed 4. Bearish Candle ,which could lead to another higher low When to enter? We can short the pair , once the price breaks the neck line.
welcome here is my usdcad idea its based on market bullish on higher tf like m, w, d will we see a retest of weekly pivot area im thankful to see how this setup plays out
This analysis is for intraday only, it looks like the temporary movement is bearish, we can take advantage of the retracement movement
potential bearish entry Dow Theory in Place: Lower High and Lower Low Expected in Place The double top, coupled with bearish divergence (a bearish reversal pattern), breaks out the neckline at 1.35899. The price action is forming a bearish flag, and it is expected that the price action will continue the bearish trend. Entry, SL, and TP levels are defined.
USDCAD upcoming week Technical Forecast as FOMC on the way to hit market, so follow money management properly GOOD LUCK !
On Friday USD showed weakness while in other hand Canadian Dollar showed much strength. I think CAD will remain strong in next week against the USD.
#USDCAD in H4 Time Frame Setup If the price of USDCAD breaks below the trend line, it could indicate a bearish trend and present a selling opportunity. Alternatively, if the price does not break below the trend line, it may be best to wait for further market updates and watch for a potential breakout. Remember to always practice risk management and have a clear...
Usdcad is now at strong horizontal resistance and here is a sell trend line also. If market reject from here you can sell with small SL. If market break and close above on resistance this setup will fail. If you like this idea kindly appreciate with like button
After an uncorrected 350 pips rise, a pullback is necessary for USDCAD to swing bullish and surpass recent highs of 1.38060. I anticipate that the currency pair will react in the 1.36654 - 1.36844 area, which I find to be of high interest. Within 12 days, USDCAD has increased by 2.63%, but I am expecting a 1% pullback before it moves higher. Several confluences,...
Based on the Relative Strength Index (RSI) indicator, there is currently a divergence present. Once the first LL (lower low) is broken, it would confirm the formation of a bearish trend. I plan to enter a short trade with a 1:1 risk/reward ratio. Please note that this is my personal analysis and trade plan, and it is important for you to conduct your own research...
it looks like cad is gonna have a good short here, I'm thinking about is this demand zone can reverse the trend or not but there will be a good short position until next demand zone (light blue box)
Double Top in USDCAD in H1 timeframe along with bearish divergence may reverse the trend from bullish to bearish if it breaks support level of 1.352
This is just an analysis. If you feel it helps you and this analysis is correct, you can enter the trade at your own discretion with the appropriate volume and SL.
ON USDCAD We expect a head and shoulders pattern, activating the decline, and direct entry of sellers ENTER NOW OR 1.3566 SL 1.3582 TP 1.3438
A possible retrace on 2 hour supply, sweeping all internal liquidities then proceed to sweep external liquidities down to 1.30494 demand area.
Hello traders! ‼️ This is my perspective on USDCAD. Technical analysis: Here I am looking for a long position as we are in a bullish market structure on daily. My point of interest is bullish order block and imbalance filled after price took sell stop liquidity. Then I will look for a confirmation on lower timeframe. Like, comment and subscribe to be in touch...
Hi USDCAD IN Supply Area Entry:1.34690 SL:1.34899 TP:1.34067 RR= 1:3 if You like Support & Share