Given the previous analysis and the fact that the price could not cross the range of 1.3037, we are going back to the uptrend scenario for this currency.In this scenario, the Ending Diagonal pattern has been completed in the range of 1.2994, and the uptrend has started, the uptrend will be confirmed by breaking the price in the range of 1.3162. The least expected...
We are Waiting for the USDCAD TO BUY from the Zone
The USD/CAD has formed a 3-4 Setup One Short on the Hourly Chart On the Daily, we can see its stuck within a tight range That range is the Wave 4 of the D1. It's a Wave 4 within Bullish formation. So the breakout of the highs of the range will leave to Wave 5 Meanwhile, price is hovering near the Lows of the Range. Drop the H1 chart and you find a Setup 1...
USDCAD is expected to drop to 1st support at 1.29420 where it could potentially react off and up to 1st resistance at 1.30397. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
USDCAD approaching support at 1.30567 where it could potentially rise further to 1.30967. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
USDCAD reversed off its resistance at 1.31572 where it could potentially drop further to 1.31010. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
USDCAD is expected to drop to 1st support at 1.32844 where it could potentially react off and up to 1st resistance at 1.33732. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
USDCAD bounced off 1.32350 where it could potentially rise further to 1.32900. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
USDCAD reversed off its resistance at 1.32137 where it could potentially drop further to 1.31650. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
USDCAD is expected to drop to 1st support at 1.33135 where it could potentially react off and up to 1st resistance at 1.33456. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
USDCAD will not break above $1.36664 because of no recent attempt to do so. The last time prices were that high was last june and they did not stick there for very long. I am goimg short on this one as i am following the primary movement of price. I have no confidence in this awaited Bullish breakout because prices have - most of the time trending below $1.13037,...
Disclaimer - I could be wrong/Trade at your own risk...
Our preference: position below 1.5005 with targets at 1.4925 & 1.4900 in extension. Alternative Scenario: In excess of 1,5005, aim for a continuation of the rise with 1,5030 & 1,5075 in line of sight. Comment: The RSI is bearish and militates for a continuation of the decline.
Our preference: sales position below 1,2925 with targets at 1,2865 & 1,2830 in extension. Alternative scenario: in excess of 1,2925, aim for a continuation of the rise with 1,2950 & 1,2970 in line of sight. Comment: as long as 1.22925 is not exceeded the risk of a depression of 1.2865 is important.
Our preference: position bought above 1.3220 with targets at 1.3300 & 1.3345 in extension. Alternative scenario: in break of 1.3220, a continuation of the decrease will be envisageable with 1,3185 & 1,360 in line of sight. Comment: The RSI is bullish and militates for a continuation of the rise.
Everything meant to be self training.
We see the price move between the range of 1.280 to 1.360 for few more weeks and than a big upward move to 1.450 level - We have to see the price action on the lower frame charts to analyze the short term trade setup - But, In longer term we are LONG on this pair.