On daily we have nice bullish move to sideways movement. On 4h we have bullish breakout, so we COULD have forming contiation on that bullish move. When we go lower timeframes there are two patterns. Screenshot is from 15min where potential bearish cypher is forming , but bigger bullish 222 is easier to see on hourly chart. Patterns match together. I would be...
The market has been consolidating between this range at 1.339 and 1.35 (marked by the blue rectangles)
Even though Fridays candle shows a strong rejection from the sellers at resistance, overall my bias is still very bullish.
Instead of looking to go long at the break of resistance (1.35) i’d rather wait for the support of the consolidation range to be tested...
USDCAD - reject at the top one more top, possibly a 50% daily rejection candle, still waiting for daily close to confirm.
If didn't already enter at the top, a 2nd chance entry would be when inside bar entry form. That's mean any bullish green pull back candle inside the bearish candle.
we can get a short trade when the price
rise up to short levels 1.35880 -1.36230
targets and stop lose on chart >
This is not an investment recommendation or any call to buy or sell
It is just an analysis based on a study of the history of price action
Behavior , that may not be a necessarily reason for the success of
the structure or repetition. So please...
With the recent run down for USDCAD, price currently has formed a Rising Wedge in D1 and is having difficulties breaking above 1.34900.
(Rising Wedge after a downtrend is a continuation pattern)
I believe price will break the wedge and go lower. Planning to short only upon retest of Resistance and in the SZ as drawn in H4. (It will be a valid CP SZ only if an ERC...
traders, we have the possibility to long this pair for the last push to the 78.6 of the weekly timeframe before the move to the downside will start
FOR THE COMPLETE VIDEO ANALYSIS:
The US Dollar vs. the Canadian Dollar is a very popular currency pair due to the extremely large amount of cross border trading that occurs between the U.S. and Canada. The CAD is considered to be a commodity currency because of the large amount of natural resources, especially oil, that are mined and exported to southern neighbors. The USDCAD is one of the most traded currency pairs in the world.
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