✏️USD/CAD fell on increased speculation of an interest rate cut in the first half of 2024, following the release of weak employment figures.❌
🧨By examining the trend in the daily time frame, USD/CAD, after breaking the bullish angle pattern and pullback to it, now having a resistance range in the range of 1.3523-1.3504, can decrease to the 161.8% Fibo support at...
Continuing the previous Matrix Project (Linked idea) with some potential new steps in the evolution of this market. Looking for pivot points with candlestick patterns near the rectangles which are potential zones of influence (support/resistance/consolidation). Also having an eye on the marked dates or marked price levels. Icons can be hit, but not required.
The...
Hello Everyone,
The USD/CAD pair has found support near the 1-year pivot point (PP), with current pricing hovering around the significant weekly support level at 1.349331. Additionally, there's anticipation of encountering substantial monthly support around 1.344618. A breakthrough past these levels could potentially lead to further downward movement. Prevailing...
Indicates the potential leading diagonal of wave (1/A), which took the form of a raising wedge pattern. It seems that the pair has started to form a new bearish wave, represented by the wave (2/B).
💫 After the completion of this upward wave, we should expect to see a corrective pattern representing the wave (2/B). This pattern should take a different form than a...
The first buy area is medium safe because there was no major inducement.
The second one would be after a major inducement + HTF POI mitigation.
Take also into consideration what DXY does.
What do you think? Write in the comments.
LQP = liquidity pool
DBR = Drop Base Rally Demand Zone
Arrows = Inducements
Hi
The trend has changed from bullish to bearish.
In the correction of the price, we can look for buying positions in FVG.
The Fib POI is also suitable for a sell position.
Good Luck.
Price currently trade at 1.34466 which serves as a pullback support In daily timeframe. Ahead of the unemployment rate news coming up today from the United state, I anticipate a bullish momentum shift from the current market price .
Target is 1.36194(pullback resistance )
USD/CAD, H4 8 March 2024
The Canadian Dollar experienced a notable resurgence as the market absorbed the hawkish sentiments emanating from the Bank of Canada. In its most recent monetary policy decisions, the BoC opted to maintain its interest rates at 5%, with the Bank rate and deposit rate held at 5.25% and 5%, respectively. The central bank affirmed its...
This is what we're looking at with USDCAD, the pullback might happen during the news and this is something we will be looking forward to.
Confirmations only
Hello Traders, here is the full analysis.
I think we can soon see more fall from this range! GOOD LUCK! Great SELL opportunity USDCAD
I still did my best and this is the most likely count for me at the moment.
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Traders, if you liked this idea or if you have your own opinion about it, write in the...
This Weekly FORECAST
Opportunity for USDCAD. This setup trading idea is for intraday. >> TAYOR
Risk Factors:
1. Market conditions, unexpected news, or external events could impact the trade.
2. Always use risk management strategies to protect your capital.
The Price has rejected the monthly fresh supply. Look for a sell setup in the lower TFs within this weekly engulf. If that fails, wait at the top entry area for another swing sell opportunity.
This currency pair is falling towards an overlap support, from there price could bounce off the support and rise to resistance level.
Entry: 1.34373
Why we like it:
There is an overlap support
Stop Loss: 1.33689
Why we like it:
There is a swing-low support.
Take Profit: 1.35307
Why we like it:
There is a swing-high resistance
Please be advised that the...
