Fundamental Analysis Retail sales data are lower than expected, indicating a slowdown in the Canadian economy Technical Analysis USDCAD reacted strongly at SMA20, showing that the downtrend has weakened During the 4th trading session, the price surpassed the peak of 1.3713, forming a new structure. An unsuccessful retest of the 1.3659 support zone will...
Fundamentals & Sentiment USD: - USD is overbought according to CFTC, and CAD is oversold; Even if the buck is going higher in the medium term, it's time to cover some longs! - love USD short exposure in case of BoJ intervention CAD: - Inflation Expectations Differential - Decent PPI data - Canada is one of the strongest economies for the last Q + next month's...
Simply return to previous level pattern All indicators are pointing down 10 pips in it The actual value of 2.7 is higher than both the previous value and the consensus forecast. This indicates that durable goods orders exceeded expectations, which could be seen as positive for the Canadian dollar. Lets see
Trade #1 Entry Level: 1.36980 Stop Loss: 1.3850 Take Profit: 1.36450 Risk to Reward Ratio: 1:1 Trade #2 Entry Level: 1.36980 Stop Loss: 1.3850 Take Profit: 1.35675 Risk to Reward Ratio: 1:2
This event happened outside of our High Probability Time Windows. Why enter When the probability of you being right has dropped off precipitously? Greed and Desire will tell you to hop in the markets then. Not Sound Trade Logic. That's Trading Psychology my friends. Better the psychology the better the profitability by dogging needless losses.
Hello friends In the USDCAD currency pair we see a complete Elliott pattern. Waves 1, 2, 3 and 4 have been completed. Of course, wave 1 can be considered as wave A, wave 2 as wave B, and wave 3 as wave C, but we expect price growth. Therefore, according to the evidence, wave 1 consists of 5 and we are waiting for wave 2 and the beginning of wave 3. The first...
Some nice liquidity formed at my target area. Should run through it by end of the week. What are your thoughts? Trade safely my friends
We can attempt to buy USDCAD from specified level as 0.5 FIB , trendline support intact, also there is no bearish divergence. SL , TP mention in chart
pending order looking for buy option. Risk:rewad. 1:3 Blessings.
Got stopped out here as well. Will be monitoring DXY closely to see if my risk off dollar strength bias is still viable
major downtrend formed 4h retracement Expect the price to continue downtrend.
Price is going back down the discount PD arrays. I will be selling above the Asia range where there is a confluence of multiple HTF PD arrays - H4 Breaker, FVG, and Order block which took out liquidity, so in my opinion price doesn't have to be much higher when the order flow is bearish. Or if I get a strong close below Asia I will be joining the trend...
This chart is of USDCAD is printing a Bullish trend as the trend line is showing falling edge.
My macd strategy has triggered. I’m long and 1.375 is my first target area by week’s end. Trade safely my friends What do you think?
USD/CAD has made a bullish reaction off the pivot and could potentially bounce higher towards the 1st resistance. Pivot: 1.3668 1st Support: 1.3628 1st Resistance: 1.3738 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for...
USDCAD tested an intraday horizontal support. After its test, the price formed an inverted h&s pattern on an hourly time frame, and broke its neckline. We can expect a pullback now, at least to 1.36845 ❤️Please, support my work with like, thank you!❤️
Preferred direction: SELL Comment: For this currency pair, we continue to follow the medium-term sales, despite the fact that the price has risen a little more than we described in previous trading ideas. Today, the current levels are excellent for medium-term short with a target at the level of 1.37020 ( scenario №1 ), where the previous area of accumulation...
Hello Traders and everyone, I am Hadi Karaali, Known as SNIPERS_FX If you like the idea, do not forget to support with a like and follow. USDCAD TREND-FOLLOWING. 📚 👉As we can see price is still overall bullish from a long-term perspective, trading inside this rising channel. 👉 And price recently rejected clearly our upper resistance zone, and our correction...