A bit more downside to reach its long term support trend. Long term wise, USD is still bull until that long term support is broken. Don't overstay on the shorts. Hopefully can close the position tonight during New York Session.
SUMMARY: The secondary trend of USD/CAD is bullish on charts and price is trading above the trend line in its 4 hourly chart. In 4 hourly chart the price is sustaining below 200 day SMA and taking support of 50 day SMA indicating uptrend of the pair. It is having an important resistance at the level of 1.3997 and support at the level of 1.3883. If it breaks its...
USD/CAD has been in a bullish trend for going on 4 years now. It was very overextended and based on the monthly chart, it has a lot of room to pull back. We finally got a pullback and then formed a bearish head and shoulder pattern on the daily chart. This confirms the higher time frames outlook and presents a great opportunity for a short trade possibly down to...
SUMMARY: The secondary trend of USD/CAD is bullish on charts and price is trading below the trend line in its hourly chart. In hourly chart the price is sustaining above 50 day SMA and taking support of 200 day SMA indicating uptrend of the pair. It is having an important resistance at the level of 1.3980 and support at the level of 1.3840. If it breaks its...
Sell @ Market 1.3813 SL. 1.388 TP. 1.372 1.367 1.36
USDCAD on H4 Sell Breakout of the channel up to 1.37370 to complete the 3rd Wave. Price should correct from this point to KYM at 1.39687 to complete wave 4 then Short from this level to 1.34. Apply Due Diligence
Sell Limit: 1.415 SL. 1.425 TP. 1.41 1.405 1.40
Triggered a short signal on the pair targeting a Profit zone highleted on the chart as the green rectangled zone
Crude is forming reversal patterns on daily charts since $31 that might take it to $45, now it has also started to show signs on weekly charts. USD/CAD showing a downtrend now, it has inverse relationship with Crude. Higher then Average volumes on Demand Day after 4 months is also a good indication. Closing above $31 this week will be a good indication.
Just a straight forward .618 retracement possible, or there could be a breakout below before. will watch and wait
Sell Limit @ Market 1.428 SL. 1.431 TP. 1.425 1.421 1.414
Hi everyone! I would really appreciate any comments or thoughts on this analysis, what are you missing here, if there is anything unclear. Your time is greatly appreciated! Thank you. With rising Oil prices CAD has a potential to gain some strength. Price was moving south over last few days and according to the COT report this might have been caused by profit...
The pair is at a crucial point from what I have studied. 1. On the verge of braking a monthly trend. 2. On the verge of braking weekly support. 3. Completion of 5 waves, perhaps the C Correction wave maybe part of a 3rd wave of a new sequence? 4. Momentum on MACD looking bearish Short @ 1.44467 Target @ 1.39867 (~450 Points) Stop @ 1.45446 (100 Points) Any...
If USDCAD break counter trend line, there should be a sell opportunity to hit 0.786 fib retracement.
Sell @ Market 1.4629 SL. 1.4655 TP 1.456 1.45 1.448
FX:USDCAD Bullish patterns that may act as reversal into a deeper correction on higher time frames; Blue Cypher: Point B: 38.2% to 61.8% X A Point C: 127% to 141% ext X A Point D: 78.6% X C Target: TP1 38.2% C D TP2 61.8% C D Pink Bat: Point B: 38.2% to 50% X A Point C: 38.2% to 88.6% A B Point D: 88.6% X A Targets: TP1 38.2% A D TP2 61.8% A D Black...
Here is another potential trade for you guys. Sell at the resistance level or do you think the market can go higher and complete the Crab Pattern?
Hello Traders! The weekly forecasts prepared at the personal request of the Trader - AdeOluseun! Dear traders, we ask you to be careful with USDCAD currency pair, as the market is currently highly overbought on daily chart and we see by means of EWA/EWP, Volume, Cluster&Delta, Market Profile analysis, that major market participants lose interest in the growth...