Hey Traders, in today's trading session we are monitoring USDCAD for a buying opportunity around 1.37000 zone, USDCAD is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 1.37000 support and resistance area. Trade safe, Joe.
Attention Traders, In today's trading session, our attention is on CADJPY, with our focus directed towards a potential selling opportunity around the 112.400 zone. CADJPY is nearing a significant resistance line, marking the 112.400 supply zone. Adding depth to our analysis, it's imperative to consider the fundamental landscape. The escalation of tensions in the...
Price is rising into a resistance level which is an overlap resistance that aligns with the 61.8% Fibonacci retracement. A reversal from this level could lead to a price drop to our take profit. Entry: 0.66482 Why we like it: There is an overlap resistance level which aligns with the 61.8% Fibonacci retracement. Stop loss: 0.6676 Why we like it: There is a...
GBP/CAD is falling towards a support level which is an overlap support which aligns with the 61.8% Fibonacci projection and could bounce from this level to our take profit. Entry: 1.70854 Why we like it: There is an overlap support level which aligns with the 61.8% Fibonacci projection. Stop loss: 1.70228 Why we like it: There is a pullback support level Take...
CADJPY is just above the bullish barrier on its 1D technical outlook (RSI = 58.297, MACD = 0.230, ADX = 26.548) despite the fact that it is near the HH trendline of the Ascending Triangle and supported at the same time by the 1D MA50. Technically this calls for a decline and the minimum inside this pattern is the 1D MA200 (TP = 109.350). If it crosses over the HH...
Hey Traders, in today's trading session we are monitoring USDCAD for a buying opportunity around 1.37600 zone, USDCAD is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 1.37600 support and resistance area. Trade safe, Joe.
The USDCAD pair hit our 1.36200 Target (February 09, see chart below) and even broke above the Symmetrical Resistance Zone: The price now sits at the top of the 2024 Channel Up, a similar pattern with the July 14 - November 01 2023 Channel Up. In fact the pair is approaching that November 01 High (Resistance 1) and being at the same time on an overbought 1D...
The GBP/CAD pair on the M30 timeframe presents a potentially interesting situation with a bullish channel breakout pattern. Potential Long Trade : Entry: Above the broken resistance line of the channel, ideally around 1.7170 after confirmation. Target Levels: 1.7244: This represents the height of the channel, measured from the apex (highest point) to the base...
Price is rising towards a resistance level which is a pullback resistance which aligns with the 50% Fibonacci retracement and could reverse from this level to our take profit. Entry: 0.81639 Why we like it: There is a pullback resistance level which aligns with the 50% Fibonacci retracement Stop loss: 0.81898 Why we like it: There is a pullback resistance level...
Price has currently bounced off the buy zone which is an overlap support level which aligns with the 78.6% Fibonacci retracement and could potentially rise to our take profit. Entry: 0.88418 Why we like it: There is an overlap support level which aligns with the 78.6% Fibonacci retracement. Stop loss: 0.87974 Why we like it: There is a pullback support...
AUDCAD is neutral on its 1D technical outlook (RSI = 45.713, MACD = 0.002, ADX = 36.219) as it is testing the 1D MA50 and 1D MA200 periods at the bottom of February's Channel Up. This is a technical buy opportunity on the lowest possible risk, since as long as the Channel Up holds, we can target a Higher High at +2.30% (TP = 0.90500) like the one before. If the...
Traders, In today's trading session, our focus lies on AUDCAD, with our sights set on a potential selling opportunity around the 0.88800 zone. AUDCAD is currently entrenched in a downtrend, undergoing a correction phase as it nears the crucial support and resistance area at 0.88800. Adding depth to our analysis, it's essential to consider the broader market...
Hey Traders, in today's trading session we are monitoring CADCHF for a selling opportunity around 0.66600 zone, CADCHF is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 0.66600 support and resistance area. Trade safe, Joe.
Price is rising towards the resistance level which is an overlap resistance which aligns with the 38.2% Fibonacci retracement and could reverse from this level to our take profit. Entry: 1.46671 Why we like it: There is an overlap resistance level which aligns with the 38.2% Fibonacci retracement. Stop loss: 1.47033 Why we like it: There is a pullback resistance...
GBP/CAD is rising towards a resistance level, which is an overlapping resistance that aligns with the 61.8% Fibonacci retracement. A reversal from this level could cause the price to fall to our take profit target. Entry: 1.71919 Why we like it: There is an overlap resistance level which aligns with the 61.8% Fibonacci retracement. Stop loss: 1.72375 Why we like...
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...
USD/CAD is falling towards a support level which is a pullback support that aligns with the 50% Fibonacci retracement and could bounce from this level to our take profit Entry: 1.37268 Why we like it: There is a pullback support level which aligns with the 50% Fibonacci retracement Stop loss: 1.36618 Why we like it: There is a pullback support level which aligns...
The EUR/CAD pair on the M30 timeframe presents a potential selling opportunity due to the presence of a well-defined bearish channel pattern. This pattern suggests ongoing selling pressure and a higher likelihood of further declines in the coming minutes or hours. Key Points: Sell Entry: Consider entering a short position (selling) below the broken support level...