Gonna short this pair as explained in the chart. Nice resistance level where prices got rejected b4 and retesting the area again. Going short on buyer failure if it happens.
USDCAD formed double top on H4 and if we see oil is very up and as we know if oil strong cad also will strong.
So advice sell usdcad in range of 1.3075-1.3120 SL above 1.3150 TP 1.29
Divergence forming on FX:USDCAD
Reaching some key Fib levels and all rules for my indicator are falling into place. At the end of this 8H candle we should be able to look for a short opportunity
FX:USDCAD The daily price action continues to move below the downward sloping trend line connecting the peek set in late July to late August, but giving the appearance of sideways movement within a range between 1.2800 to 1.3100. This is supported by the daily 23MA steadying below the 53MA showing a weakening trend for this pair. As long as the price action...
USDCAD H4
This is a long term forecast of USDCAD.
I'm looking for a move up to complete a five waves pattern correcting the big move down from 1.46000.
If this unfolds as predicted, we will see a continuation of the down trend.
The other unlikely possibility is that we will start an uptrend. Time and price will tell.
Either way, we can make money in ups and...
It appears as tho we're about to retest the bearish wedge we broke out of during the first part of August. We have a shit ton of resistance in this area and appear to be forming a H&S formation as well.
Look for deceleration and a rejection of this resistance on the daily and intra-day for confirmation to get short. Ideally this pair tops out at resistance the...
Okay guys firstly it is NFP tomorrow, however USDCAD daily chart is indicating a swing in play. Therefore following technicall analysis we should see a weaken dollar, I would suggest to expect to see lows of 1.28500 within next week.
USDCAD should trade lower in the coming days since it felt resistance at around the 1.3140 level.
The entry came shortly after a disappointing US ISM Manufacturing PMI data release.
