I'm bullish on USDCAD due to the current conditions of the oil and the strength of DXY.
Aspired entry @ 50 day EMA on the 4hr with confluence of the 61.8% on the fib.
First target around 0% on the fib. Second target -27 %
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As we forecast Yükseliş trend for this day, so Forecast City suggests buy (limit) above S1=1.3105.
But the short term forecast is range bound, so we expect to reach the following targets:
Set the stoploss of these orders at breakout of S2=1.3095.
Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout...
USDCAD remains bearish .
You can see that the market one more time has respected a falling resistance of the channel.
Our bias is bearish and our next mid-term target is 1.3 structure support level.
Strong selloff that we saw on Friday will most likely trigger more selling volumes and
after a small pullback, selling...
This pair showing weakness whilst the dollar is running is a clear sign it is faltering at the moment.
When we zoom out and look at the daily chart we can see the clear resemblances of the two corridors. 4 touches on the upper trend line and the correlation of higher lows and lower highs.
This accumulation period looks almost identical to the period in late...
Reasons to look at potentially going short;
- Third touch of descending trendline
- 61.8 fib retracement
- Back testing Short term support now possible resistance
- Heading towards dynamic resistance (200MA)
Things to consider before;
- A lot of buying pressure over the last few days (2 of 3 Strong Bullish Candle closures)
- DXY looking bullish, Could see some...
Thought it was only right since I published AUD analysis this morning I publish CAD as well enjoy :)
A bearish 5-0 pattern formed on the daily chart. This pattern is also supported by demand zones on both the Daily and Weekly timeframe (only daily demand/supply present on the chart as overlapped).
Extended target PT = 1.21527
Happy trading :)
USDCAD has been in a downtrend for some time now. I have marked out a few key areas here and today saw NFP break the monthly resistance. If we remain below this and the yellow highlighted area we could potentially see further downside from this. However we may see price recover and potentially be in for another bounce from the trend line. I have also marked out a...
The CAD is approaching its make or break day, an 80% chance of a rate hike has been priced in by the market, if that does not happen this trade is likely to get stopped out.
If it does happen expect them to extend lower possibly in an impulsive and sharp manner. As always the blue box is the area a turn lower for resumption of the major trend may occur and I...
This pair did not present any intra-day longs so its back to the long term short bias. A lower time frame head and shoulders formed giving short opportunities. Prices are now back below key support and approaching an area of interest. If you are not in on this, shorts can be entered on a retest of 1.3280, a break/retest of the area of interest or a break/retest of...