Usdcad - Daily - price pulled down to a monthly demand zone and now looks set to reverse back to the upside and give us a 300-400 pips rally. Lets ride it
Just now, Bank of Canada delivered a hawkish stance and decided to end to the quantitative easing which sent the USDCAD drops 100 pips in 2 hours.
Based on the 1H chart, the drop of USDCAD was coincided by the test on the level of 0.236 Fibonacci which could indicate a continuation of the downtrend of USDCAD.
Today bank of Canada will publish its monetary policy and rate decision. Overnight rates are expected to be unchanged.
The Bank of Canada may leave all policy levers unchanged today. But it's essential to watch what governor Tiff Macklem says during her statement today.
The inflation rate is currently at an 18-year high in Canada. Moreover, supply pressures...
I marked the place earlier and published the analysis on short. Unfortunately, I did not have time to open the position, but there is a chance that they will return to the price and then I will join the downward movement
The ENTRY/TP zones are your entries as well as your exits.
Everything above the current candlestick is resistance, you would treat every zone above as a sell/potential buy break.
Everything below the current candlestick is support, which you would then treat every zone below as a buy/potential sell break if it hits the pip rule.
More info on the strategy and how...
USDCAD previously rejected a major support/resistance level as well as a weekly fib level and the weekly 200ema.
The way i trade is from one major level to another, so the next tp is 1.20255. But before that, i knew that price could stop and react to this 1.2300 support level , which it did. i entered after seeing the 1H and 4H charts were illustrating a ...
USDCAD has been making higher lows in the recent week, however I've noticed it has been trading in a consolidation
There are 2 entries here where the aggressive one is based on these confluences:
Retest of Trendline
Test of 61.8% Fib
Higher Low Created
Bullish Engulfing/Momentum Candle
Conservative entry would be on a break and retest of the consolidation box
Price has reached an area of support where it has rejected from in the past
Currently waiting for a structure break on a lower timeframe to enter a long position
Please feel free to follow for more ideas
The ENTRY/TP zones are your entries as well as your exits.
Everything above the current candlestick is resistance, you would treat every zone above as a sell/potential buy break.
Everything below the current candlestick is support, which you would then treat every zone below as a buy/potential sell break if it hits the pip rule.
More info on the strategy and...
Hello traders, this is the full breakdown of this pair. We will take this trade if all the conditions are satisfied as discussed in the analysis. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
If price fail to come higher than 1H EMA and also rejected from this area which is our static Resistance zone and manage to come lower than 1.26268 means short term bullish corrective move has ended and price can start another drop to 1.25630 and after that because of higher time frame bearish move can also see lower prices.
price at the moment is sitting on 1H &...
How To Play The Chart Entries/Exits:
Buy at green support entry, if it breaks by -35 pips (count it out) then enter a sell and ride to TP1, 2 and 3. Trail stop at each TP which means place your stop loss in profit but with enough room to be able to continue the sell if it continues. Same thing at resistance, sell but if broken by 35 pips then enter the buy and...
As price moved in our direction since my last publication on this pair, we scooped over 350pips (see link below for reference purposes) before the reversal setup began. As at the moment, it appears that we are on the verge of a risk of further decline in the coming week(s) as the Dollar lost all it gained during the month of September 2021 and with the appearance...
We consider buying this USDCAD pair because of a strong support below. We know what we are doing and we do what the market is doing. This is more than an institutional analysis. Invest wisely. Thank you for following me on tradingview.
I've noticed a head and shoulder forming on USDCAD, with rejection on Major Level 1.28000.
We will have to wait and see what the reaction of price does on level 1.26000 before any decision is made.
