USD/CAD has just bounced off a key support level (50.0% Fibonacci retracement level) and is climbing higher. Buy entry is at market (1.3724). Stop loss is at 1.3693 which is a level that lies underneath a pullback support and the 50.0% Fibonacci retracement level. Take profit is between 1.3740 and 1.3753 which is a resistance zone that is bounded by the 50.0%...
In this USDCAD 2-hour chart, I’m forecasting a bullish scenario based on Elliott Wave analysis. The chart presents a clear corrective pattern post a significant uptrend, labeled as waves (1) through (4), and suggests that we could be in the early stages of the final impulsive wave (5). The decline of wave (4) seems to have found support, and there's an indication...
*The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
In this USDCAD 15-minute chart, we are examining the potential for a BUY position based on Elliott Wave Theory. The analysis highlights the completion of three waves and indicates we might be nearing the end of the corrective wave (4), setting up for the next impulse wave (5). Currently, wave (4) appears to be retracing and finding support around key Fibonacci...
Preferred direction: SELL Comment: A busy middle of the week, during which we expect large statistics on production and the US labor market, and at the very end we expect the announcement of the Fed interest rate. In addition, we will find out the Fed's prospects for the near future. Against this background, US dollar shorts still look better, at least in...
👁️ OUTLOOK 30m chart: FOREX: USDCAD 30m: We are breaking bullish nicely and currently surfing the 10ema. I want to see a liquidation of lows and price to go sideways.. I also want to see price come back close to the 50ema during London session. And I want to see show strength again above the emas to then scale down to the 5m chart. Bias: Bullish but want to...
Price has just bounced off the support level which is a pullback support that aligns with the 38.2% Fibonacci retracement and could potentially rise to our take profit. Entry: 1.37178 Why we like it: There is a pullback support level which aligns with the 38.2% Fibonacci retracement. Stop loss: 1.36728 Why we like it: There is a pullback support level which...
If the price has to reverse then it should reverse from the point where it is currently trading (1.3628), beyond this point price will move to 1.3794 from where it can reverse back to 1.3380 which could be strong support for the huge rally that could lead to break the last high of 1.4677 and can set a new record high. The dotted red lines indicates the possible...
Hello guys, We are looking to sell USDCAD after the news.
In this Analysis, we can see some Buy or sell Levels that I shared, watch it carefully, and Follow Price action.Thanks
A great risk to reward At this point, we enter the purchase with a certain loss limit
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
Looking for the 8H H&S to complete with price dropping at least to the daily 50% FIB level. This is also the 8H high from 4/5/24. This area is: -the Monthly bullish .382 FIB level -the Previous month high -the Weekly level of 4/7/24 -the 8H 4/5/24 High Price will either: -break and retest at this area to continue bearish -price can reverse in this area to...
If greenback remains as strong as it is currently, in just a couple of weeks we can see break out of 1.39000 (we touched this area 3 times before). Price probably meet 1.46000 and then a sell-off. I have already entered the market but had no time to share my opinion with you at the time. Enter small but keep the position open until it touches your TP.
*The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
*The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.