I start sharing my Weekly Index analysis for all major indexes. This will help FX traders to have a better understanding on the direction of future trades. Obviously, this is not THE ONLY way. But it should help improving our trading. PLEASE DROP YOUR COMMENT & HELP ME TO IMPROVE THIS WEEKLY POSTING.
Get ready everyone... Possibly down for hours........ or days . Keep monitoring and watch out for pullback
Suggesting Up continuation for Canada , so the vs would be going south. Watch out for Daily, h1 and h4 retracements
Canadian looks strong and healthy at this level. Per the chart, price has climbed above lower averages into a bullish landscape. Next target displayed with the anchor. You may see some opportunities with some CAD pairs… Let’s go CAD!
CXY is bearish. Will the downtrend continue? Looking at the bigger picture, I'd expect a short-term correction before (or if) CXY moves southward to test the lowest support. These are just the technicals, macroeconomic factors are ignored here!
analyzing Canadian dollar index is significant for oil analysis as correlations is directly and intensely now CXY broke its supports to fall for third time to its lowest please see my previous analysis as below in which our wave count invalidated
Please see my analysis on CXY - We will most likely test the identified levels
possibility that the correction is finished on the fibo extension 1.0 and we are looking for buying opportunities for the canadian
Canadian dollar index is within its correctional wave and a wolfe wave pattern is seen there indicating final leg of WXY will be completed this week BOC will announce new interest rate which predicted to be hawkish
hello freinds this chart we shows that this market will know a downtrend on next days when i recommend Selling with a fort probability if you have any questions you can write it in commentaire below and i will answer them and please don't forget to support this ideas with your like and comment thank you cordialy
This is how the NZD market is looking, which justifies my previous ideas. What do you think?
CXY or the Canadian Dollar experienced massive rally from the 2nd week last month and raided most of its rivals. But at this point of writing. CXY broke resistance trendline after it reached its peak and its weakness starts to show itself in some pairs ie CADJPY,GBPCAD,NZDCAD and USDCAD mostly when you view in Daily candles.
RSI channel clearly shows that CAD buyers come in to market every time CXY could not hold its value Also it shows that CAD has bullish market Finding currency which is bearish, is great chance to have trade agains CXY
''CXY'' after the break with force of this powerful resistance we see that CXY will increase the price
Main Pattern: Weekly Rectangle Shorted yesterday at 77.29 Target 75~
This is my bearish trend idea. However wait for a fall back to a key level after trend continue to downtrend momentum, because overall structure breakout and continue to downtrend. You can see it high time frame momentum. Good luck
CXY Bullish for the next few years. Please watch cross-currency divergence while trading.