The reasons why I strongly believe this move will happen are the following: According to the CFTC non-commercials are shorting CAD. Non-commercials have 20,388 positions long and 68,914 positions shorts. This means that they are selling more CAD than they actually buying it. According to this info we could expect a move to the upside. From a monthly...
USDCAD has been in an uptrend but we can observe a Divergence on the hourly TF coupled with a Harmonic Reversal Pattern.
We are testing an area that was once resistance. Is this an opportunity to go long? We are waiting for confirmation and are aiming for the recent high.
looking at the short might but it go against me if CPI for CAD comes out strong
#USDCAD. well guys after bounce market now at his today supporting area that is 1.3720 mentioned in black line, keep close that supporting area because if market hold it and didnot close below that level then further bounce on table, keep close it and stay sharp. good luck trade wisely
USD/CAD 1D - As you can see from the screenshot above, price has traded us into the Supply Zone I have marked out for us, we have seen that price has rejected well from this area and shown signs of reversing. In order for us to have the confirmation that price is reversing from this area and is trading us lower in the market we want to see price break structure...
The USD/CAD tells the trader how many Canadian dollars (the quote currency) are needed to purchase one U.S. dollar (the base currency). This currency pair is known as the "Loonie", a nickname derived from the picture of a loon, a distinctive bird which appears on one side of Canada's gold-coloured, one Dollar coin. In Canada, the organizations and people that...
USDCAD Price : 1.37650 Trend : UP ( Due to the Up trend on weekly & monthly chart ) Transaction: Buy Reason : Up trend on weekly chart and support on H1 chart in additional to oversold signal from Stochastic on ( H1 ) time frame . Technical analysis failure at level : 1.37600 Technical analysis success at level : TP : 1.3820 - TP 2 : 1.3870
The Loonie has been hovering between 1.31 and 1.39 for the past two years, and we're quickly approaching the upper boundary of this weekly range. Will there be another sell-off? Let's dive into what the price charts reveal. We're riding a 17-week uptrend on the weekly chart, with last week's candle showing an especially bullish move—over 200 pips—pushing us near...
USDCAD is trying to break the 1.36 level. This breakout will happen soon and the price will rise to the monthly neutral high at 1.38
Breakout of Symmetrical triangle leading to development of a bullish triangle and ultimately to hit August 1998 highs around the end of 2015 or into 2016.
The USDCAD pair is crossing over the 0.786 Fibonacci level of the long term range since October 2022. The last two times it did that break out, it turned into the most efficient sell opportunity. Last time to do so was on November 1st 2023. With the 1day RSI also deep into the overbought region, we turn bearish. Sell and target 1.3300 (0.236 Fib, it has been...
The Loonie asset would observe a fresh upside if it breaks above April 12 high at 1.3786. This will drive the asset towards November 4 high at 1.3843 followed by November high at 1.3901 On the contrary, a downside move below April 9 low at 1.3546 would expose the asset to the psychological support of 1.3500. A breakdown below the latter would extend downside...
We have a great zone now where price could possibly go and reject USD/CAD forecast as the Canadian dollar hovers near a five-month low hit on Friday last week. Economic indicators from the US and Canada have supported a rally in the USD/CAD pair as they show a growing divergence in monetary policy outlooks.Canada’s economy is deteriorating due to the high...
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From a technical point of view, the US dollar/Canadian dollar has a very important support range in the range of 1.3675-1.3648, and on the condition of maintaining and not recording any close candle time of four hours below it, the rate can reach the resistance of the ceiling of the second ascending channel in 1.3449 range to increase.
USDCAD has just formed a rising wedge plus there is a 90% bearish sentiment on the pair moreover a bearish divergence has emerged at hourly chart that indicates the upcoming bearish momentum on this instrument. Lets place your orders with extra care and with proper risk management and lets hope for Good. Thanks My Positions Sell Stop: 1.3677 Stop Loss...
Hello,Friends! Bearish trend on USD/CAD, defined by the red colour of the last week candle combined with the fact the pair is overbought based on the BB upper band proximity, makes me expect a bearish rebound from the resistance line above and a retest of the local target below at 1.365. ✅LIKE AND COMMENT MY IDEAS✅