Whats going on everyone.
Todays favoured setup is USDCAD.
Im really liking the looks of this setup now that the US dollar and DXY have finished retracing.
Now that USDCAD has made a lower high and this is coupled with a perfect test of the 78.6 im really liking shorts here.
TP @ 1.292
Hope this helps.
Currently, USD/CAD is trading at 1.3124. The pair is trading in downward resistance and support channel and it may reverse back from here, as the price has already touched resistance level. The price may rebound back to the support level if it doesn't break the resistance level at 1.3140. If the price goes below 1.3068 level then it may touch the support level at...
- Price breaking our consolidation box.
- Possible entry at the closure.
- For a safer approach, look for a retest of the zone.
- Preço a quebrar a nossa box de consolidação.
- Possível entrada neste fecho da hora.
- Para uma entrada mais segura, poderá sempre aguardar pelo retest da zona.
Please note we have posted a BUY Idea on 1H time frame. (refer related idea)
The 4H USDCAD looks bearish currently going up to retest the trendline as well as the Daily resistance which is strong enough to reverse the price.
Fundamentally, USD has displayed some temporary strength which could last only until the daily resistance.
The First target is immediate...
I reckon, if it can stay below the resistance/trendline, USD will fall deeper into the next potential target.
- Trump's tariffs on Canada will backfire by hurting the U.S. economy more.
- Canada added 419,000 jobs in July as economy reopened
- CAD Jobless rate of 12.3%
- Potential Descending triangle on the daily time-frame, it was a breakout and...
GOING AGAINST THE TREND? I DON'T THINK SO, RESPECTED RETEST ON USD/CAD, UNLESS THE NEWS TELL US OTHERWISE. AM LOOKING TO SHORT THE DOLLAR TODAY. proper risk management on this nanny might get very volatile.
Currently, USD/CAD is trading at 1.3539. The pair started a new down trend after breaking the support level at 1.3548. Previously, the pair was consolidating in the resistance and support levels. As the pair has already started a down trend by breaking support level, its first target price is at 1.3430 and second target price will be at 1.3358.
Follow a proper...
I would like to see USDCAD slightly buy before i would think of selling this pair . Join me to receive future analysis , comments would be welcome as well as for those interested in learning are welcome.
Time = 2H
– Structure = Downtrend
– Pattern = Descending Triangle
– Tendency = Downtrend
Price might move above slightly in-search of Clear resistance, but the trend is Downtrend
DISCLAIMER: This is NOT an Investment Signal, Trade at your Own Risk.