Usdcad tern to buy with oil price increase.. Also got the support level touched and made double bottom in dayly chart
The counter has been consolidating in a sideways correction for the last few days. It could be interpreted as an ABC correction and the recent down move as wave B We expect the pair to find support in this zone head higher.
The probable triangle pattern formation in USDCAD in 240-minutes time frame . The precise analysis will be presented soon .
USDCAD ********* ⏳4 Hour chart 🎲 Possible entry analysis ⛳️ Possible bull/bear target 📚Educational —————-❇️——————- Detailed analysis 💬 1️⃣ Trend line bounce, Break and retest around 1.31500 2️⃣ 1.32500 Price action level-Dynamic support 3️⃣ Risk off mode and Rising of virus infections, Falling of Oil- WTIUSD prices 4️⃣ 1.34000 Key psychological resistance 5️⃣...
Elliot wave count on usdcad suggests there should be another move to the upside to make up the wave 5.
In the name of ALLAH who is most merciful and the master... I strictly take trading as a business, not a gambling stuff. I have calculated approximate risk to reward ratio on every single trade with predefined profit/loss levels. Please note: -> Never go beyond 1.5% risk of your total trading capital on a single trade, -> Always move your...
Beginning with the name of ALLAH who is most merciful and the master... I strictly take trading as a business, not a gambling stuff. I have calculated approximate risk to reward ratio on every single trade with predefined profit/loss levels. Please note: -> Never go beyond 1.5% risk of your total trading capital on a single trade, -> Always...
USDCAD broken a descending trendline and a support & resistance zone. Price has retested the broken zone and printed a bullish engulfing candle. This retest is also lined up with (I)-(ii), i-ii Elliot Wave sequence. Price has the potential to continue moving higher in wave iii of (iii). The break of green lines for buy confirmation while the red line is the...
The counter has bounced off strongly from the support 1.31, after trapping the bears with a fakeout. Now, it has taken down a bearish trendline as well. Hence, we expect the pair to be bullish in the short-term.
The area of 1.3177 is a very strong range, in this range, there is a downtrend line with a 50% Fibonacci ratio. it is probable, wave 2 from sub-waves of 3rd wave has ended in this range, and the currency starts to drop.
USDCAD-Technical analysis ^ Trend reversal ^ Downside pressure ^ Minor pull back - Bearish correction ^ Upward momentum ^ Fundamental support for USD ^ Technical support for CAD SWING TRADE-USDCAD Buy Entry @ 1.31580 Take profit @ 1.33240 Stop lose @ 1.31080 70 Pips target R:R 1:1.5 💌 Leave your valuable comments and suggestions related to this idea...
By the price crossing the 1.3099 range, the uptrend encountered some changes, which can be seen in the daily chart. The overall structure is in the form of a Double Zigzag pattern (in the daily chart) and in the 240-minute chart, the price is completing the V wave from the point of A, which can be extended up to the targets of 1.2950. And in continuation, we enter...
Since the price moved 250pips in our direction since my last publication on this pair; the USD/CAD gained downside momentum and is trying to settle below my Key zone at CAD1.3200. Tendency: Downtrend ( Bearish ) Structure: Breakdown | Supply & Demand | Harmonic (AB = CD expectations) Observation: i. Breakdown of CAD1.32500 zone on the...
USDCAD The parabolic move was started on Starting of the September month and ended in September month end. The instability in oil prices caused the Lonnie to lose some ground against greeenback. But after the shift in positive sentiment in the market CAD has gained some ground against USD. After the ABCDE Elliot correction waves formed at the end of previous...
Price is currently testing the flip support + 0.5 fibonacci retracement level + uptrend support. We could see a bounce off the support as bullish↗️ or a breakout below the support as bearish↘️.