Hey Traders, in today's trading session we are monitoring EURCAD for a selling opportunity around 1.47500 zone, EURCAD is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 1.47500 support and resistance area. Trade safe, Joe.
USDCAD - 24h expiry Price action looks to be forming a bottom. Short term RSI has turned positive. We expect a reversal in this move. A move through 1.3700 will confirm the bullish momentum. The measured move target is 1.3750. Our profit targets will be 1.3750 and 1.3775 Resistance: 1.3700 / 1.3725 / 1.3750 Support: 1.3675 / 1.3650 / 1.3625 Risk...
The price is rising towards a resistance level, which is a pullback resistance that aligns with the 23.6% Fibonacci retracement, and could reverse from this level to our take profit. Entry: 1.36721 Why we like it: There is a pullback resistance level which aligns with the 23.6% Fibonacci retracement. Stop loss: 1.37266 Why we like it: There is an overlap...
The euro is susceptible to fluctuations in energy prices, while the Canadian dollar stands to gain from them. Any developments concerning the conflicts in the Middle East or Ukraine, as well as increased tensions in these regions, could potentially lead to a bearish sentiment for EUR/CAD. However, I believe that the market's reaction to previous events, such as...
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AUD/CAD has just bounced off the support level which is an overlap support that aligns with the 23.6% Fibonacci retracement and could potentially rise to our take profit. Entry: 0.88963 Why we like it: There is an overlap support level which aligns with the 23.6% Fibonacci retracement. Stop loss: 0.88736 Why we like it: There is a pullback support level which...
NZD/CAD has just bounced off the support level which is an overlap support that aligns with the 38.2% Fibonacci retracement and could potentially rise to our take profit. Entry: 0.81199 Why we like it: There is an overlap support level which aligns with the 38.2% Fibonacci retracement. Stop loss: 0.80930 Why we like it: There is a pullback support level which...
Hey Traders, in today's trading session we are monitoring USDCAD for a buying opportunity around 1.36000 zone, USDCAD is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 1.36000 support and resistance area. Trade safe, Joe.
Price is rising towards a resistance level which has been identified as a pullback resistance that aligns with the 61.8% Fibonacci retracement and could reverse from this level to our take profit. Entry: 1.71052 Why we like it: There is a pullback resistance level which aligns with the 61.8% Fibonacci retracement. Stop loss: 1.71720 Why we like it: There is a...
Got stopped out here as well. Will be monitoring DXY closely to see if my risk off dollar strength bias is still viable
The GBPCAD pair gave us a solid short-term sell signal last time (January 29, see chart below): At the moment it is declining within a Channel Down pattern which emerged after the 6th rejection on the Resistance Zone. Having broken below both the 1D MA200 (orange trend-line) and 1D MA50 (blue trend-line), we are expecting a short-term rebound to price the new...
Price is rising towards the resistance level which is a pullback resistance that aligns with the 38.2% Fibonacci retracement and could reverse from this level to our take profit. Entry: 1.70212 Why we like it: There is a pullback resistance level which aligns with the 38.2% Fibonacci retracement. Stop loss: 1.71034 Why we like it: There is a pullback resistance...
USD/CAD H1 Chart - Potential Short Entry Based on Head and Shoulders Pattern The USD/CAD H1 chart might be presenting a shorting opportunity based on a possible Head and Shoulders pattern. Pattern: Head and Shoulders (Bearish Reversal) Description: This pattern consists of three peaks: a left shoulder, a higher middle peak (head), and a right shoulder that...
UC is on the brink of breaking through the support line amid massive divergence. OANDA:USDCAD
Traders, D: 4h: Our strategy for this pair involves positioning our orders strategically below the liquidity hunt. By placing our orders in this manner, we aim to capitalize on potential market movements following the liquidity hunt, maximizing our chances of entering favorable positions. As we await the release of Canadian Retail Sales data, it's crucial...
Price is falling towards a support level which is a pullback support that aligns with the 78.6% Fibonacci projection. A bounce from this level could lead the price to rise to our take profit. Entry: 1.46155 Why we like it: There is a pullback support level which aligns with the 78.6% Fibonacci projection Stop loss: 1.45877 Why we like it: There is an overlap...
AUDCAD is rising towards a resistance level which is a pullback resistance that aligns with the 38.2% Fibonacci retracement. A reversal from this level could lead the price to drop to our take profit. Entry: 0.88469 Why we like it: There is a pullback resistance level which aligns with the 38.2% Fibonacci retracement. Stop loss: 0.88948 Why we like it: There is...
Finally entering longs after monitoring the pair throughout the week. All the levels are displayed on the chart. Profitable trades, everyone!