D6Z2014 - Canadian dollar has another opportunity to enter short. Today 02 Oct 2014 price reached the upper parallel line and bounced back suggesting a continuation of the bear trend. Targeting 0.8832.
I have been stopped but still convinced CAD will move lower. Currently retesting the H&S neck line and the upper parallel. Good opportunity to enter short. Tergeting the bear median line. Good Reward/Ris
Currently retesting the H&S neck line. Reversal bar today, 19 Spet 2014 after testing the upper parallel. Good opportunity to enter short. Tergeting the bear median line. Good Reward/Risk.
It is undoubtedly on of the strongest trends around, so well defined that makes you think "it can't happening" for more than a year now.
Looks almost ready to break the bear flag and dive, giving the $USDCAD the edge it needs to break it's respective triangle upwards. Although very famous triangle the last few weeks, data from Etoro - www.forex-tribe.com -{ true...
I'm still bear here. Price has not been not able to close strongly below the down-ward sloping median line and found support. It has then moved up nicely along the reaction line (blue line) and towards the upper parallel. I will wait few more days for the price to move higher. This is also a significant Fib retracement between 13 June 2013 high and 05 July 2013...
As reported in my previous study on the monthly chart the Loonie is coming out of a 2year triangle formation. A Bear flag has formed at the down-sloping median line on the daily chart. A trade below the pivot low will confirm the sell signal with first target objective 0.92.
Major ABC pattern between March and May has set-up a continuation of the down trend for the Loonie. Currently testing the upper down sloping parallel line. Another green bar or higher high on monday the 10th of June would be ideal to enter the short position.
