Canadian consumers want to have their inflationary cake and eat it, with a hot retail sales report bolstering bets that the BOC could hike again at their next meeting in July. Whilst a hike is not yet a given, the BOC did deliver a hawkish hike earlier this month - and with consumers continuing to spend, it keeps the pressure on the BOC for further hikes. Yet a...
EURCAD hit the symmetric Resistance today and got immediately rejected as on the respective high of January 3rd 2023. This is a sell opportunity, targeting the symmetric Support of 1.43450. If instead the price rises more, sell near the 1day MA50 and this time target even lower at 1.42350 (Support B). That would be a breach of the 1day MA200. Follow us, like...
Hey Traders, in today's trading session we are monitoring USDCAD for a buying opportunity around 1.32100 zone, USDCAD was trading in a downtrend and successfully managed to break it out. Currently USDCAD is in a correction phase in which it is approaching the retrace area of 1.32100 support zone. Trade safe, Joe.
RESISTANCE @ 1.3269 SLO @ 1.3245 ⏳ TP3 @ 1.3235 (closing ALL Buy Orders) TP2 @ 1.3210 (shaving 25%) TP1 @ 1.3190 (shaving 25%) 💰 +24 pips +SL @ 1.3169 🚫 BSO @ 1.3166 📈 +28 pips 🤑 BLO1 @ 1.3150 ⏳ BLO2 @ 1.3140 ⏳ SUPPORT @ 1.31246 💰 TP1 is in the bag for a profit of +24 pips 💪🏾 TP2, here we come!!!! 🤑 BSO Net Equity is @ +28 pips 🚫 Stop Loss has been modified...
AUDCAD reached a daily key level. The price formed a double bottom pattern, testing that on 1H time frame. Its neckline was broken this morning. I believe that the pair may bounce now. Goals: 0.8825 / 0.884 ❤️Please, support my work with like, thank you!❤️
Price is testing major resistance at 0.6806 which is an overlap resistance that stretches way back. It also coincides with the 23.6% Fibonacci retracement and a descending channel resistance. If price were to reverse from here, we could see it drop all the way to support at 0.6626 which is an overlap support and 61.8% Fibonacci retracement. Please be advised...
CADJPY is trading in a rising wedge pattern on 4H. And I guess you would agree with me that the pair looks quite overbought. As a confirmation, I spotted a head and shoulders pattern on 1H time frame with a confirmed neckline breakout. We already shorted the pair with my students. A bearish move is expected at least to the support of the wedge. ❤️Please,...
SLO @ 1.6760 ⏳ TP4 @ 1.6050 (closing ALL Buy Orders) TP3 @ 1.5185 (shaving 25%) TP2 @ 1.4625 (shaving 25%) TP1 @ 1.3815 (shaving 25%) BLO @ 1.3025 📈
SLO @ 1.6760 ⏳ TP4 @ 1.6050 (closing ALL Buy Orders) TP3 @ 1.5185 (shaving 25%) TP2 @ 1.4625 (shaving 25%) TP1 @ 1.3815 (shaving 25%) 💰 +1600 pips BLO3 @ 1.4360 ⏳ (add-on) BLO2 @ 1.4315 ⏳ (add-on) BLO1 @ 1.3025 📈 +1324 pips In anticipation of price action pulling back, I've set two new Buy Orders (see above).
We have some Hidden Bearish Divergence on the monthly MACD as the GBP is failing to get above the highs for the 3rd time. This could eventually lead to a huge breakdown that could take it all the way down to the 1.618 Fibonacci Extension.
NZDCAD is giving us yet another opportunity to catch the big swing trade higher, which is likely to be over 1000pips. We have still not yet started the impulse so make sure to keep an eye on this! Trade Idea: - Watch for reversal patterns such as trendline break/BOS etc. - Enter on trendline break with stops below the lows - Targets: 0.855 (500pips), 0.88...
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EURCAD have been on the rise since August 2022, and now approaching the highs of 2022, what are my expectations? We can see that above the 2022 highs, there is a weekly imbalance I labelled, so price might get to that highs before going bearish, remember that the first leg of the M formation, formed on December, so this will be our second leg. So we expect this...
Hey Trades, in the coming week we are monitoring USDCAD for a buying opportunity around 1.31500 zone, USDCAD was trading in a downtrend and successfully managed to break it out. Currently USDCAD is in a correction phae in which it is approaching the retrace area at 1.31500 support and resistance zone. Trade safe, Joe.
price has been consolidatiing between 0.67288 which is my support zone and 0.68155 which is my resistance zone. a break and close above resistance should see price continue its tragectory upward
NZDCAD completed a Death Cross yesterday on the 1D timeframe with the 1D technicals naturally bearish (RSI = 41.395, MACD = -0.004, ADX = 27.419) as the price is under the middle of the logn term Megaphone pattern. Every Lower Low has so far been at or under the Fibonacci 1.236 extension. With the 1D RSI under an LH trendline itself, we are going short, targeting...
Hey traders, in today's trading session we are monitoring EURCAD for a selling opportunity around 1.44750 zone, EURCAD is trading in a downtrend and currently is in a correction phase in which it is approaching the major trend at 1.44800 resistance zone. Trade safe, Joe.
We're seeing price make a bearish breakout from a key support-turned-resistance level at 1.3216. A fall from here could see prices drop all the way towards the 1.3066 level. Do take note that there is an ascending support line which might push prices up which is why the take profit target is at 1.3066 (and not further away). Please be advised that the...