This is a Canadian Dollar index I created. I use these to help gage currency strength when looking for a pair to trade.
"Don’t blindly follow someone, follow the market and try to hear what it is telling you." - Jaymin Shah
Hello traders, CADUSD is in a bearish fake dynamic with a water carrying candle, it is looking for a support to give direction to its correction with confirmation of the divergence on the RSI and in full wave ELLIOTT. Great propability of breakout resistance thereafter the price with the return of momentum to go to the next stabilization zone and join the next...
CADAUD appears to be heading lower. It is in a very deep downtrend. The market has formed a "W" pattern, which is a bullish sign BUT it appears that price has bumped against the upper trend line. The market has not retested the 1.000 level so this tells me price may still be headed down. Hopefully the buyers won't get trapped in the market.
- STRONG BULLISH MOMENTUM ON THIS TRADE MARUBOZU CANDLE FOLLOWED BY BULLISH LONG BAR GIVING US UPWARD CONFIRMATION
- PRICE IS ABOVE 8 & 14 MOVING AVERAGE
- FIRST TAKE PROFIT AT 1.0563
- SECOND TAKE PROFIT AT 1.0804
You have to be careful and analyze the price action before making the decision. We must think that nobody knows what will happen. I'm just trying to put the odds in my favor. Then the price will do what it has to do. So let's see what happens.
The Canadaian dollar currency has printed bullish structure on the daily time frame as well as h4 more bullishness is expected.
The fundanental outlook for the CAD is mixed
Al time low interest rates
The Bank of Canada left its benchmark interest rate unchanged at the effective lower bound of 0.25 percent on July 15th 2020, as widely expected. The Committee...
Hello Traders Investors And Community,
Welcome to this analysis where we are looking at CADAUD which is sending some quite interesting signals at the moment with a potential continuation ahead and a clear formation which developed we can expect some significant price-actions further developing.
Looking at my chart you can watch there that CADAUD just confirmed...