Just noticed this interesting trendline going back to 2016 that's holding strong, coinciding with a retest of a midrange going back to 2015. Looks primed to head to the top of the range. From there we'll see if it begins a new range above this one.
Pretty simple play here. USDCAD tightly coiling up since Sept 2022. Higher lows. Looks like it wants to explode, even a surprise rate hike by the Bank of Canada wasn't enough to sweep the lows. Tight invalidation. US trudging ahead with rate hikes while the market is in disbelief and calling J Powell's bluff. But he's not bluffing. Canada has the bubbliest...
SLO @ 0.9866 ⏳ TP3 @ 0.9630 (closing ALL Buy Orders) TP2 @ 0.9340 (shaving 25%) TP1 @ 0.9155 (shaving 25%) BSO @ 0.8985 ⏳ BLO @ 0.8910 ⏳
Hey Traders, in today's trading session we are monitoring USDCAD for a buying opportunity around 1.33100 zone, USDCAD is trading in an uptrend and currently is in a correction phase in which it is approaching the major trend at 1.33100 support and resistance zone. Trade safe, Joe.
2023-2024 Exchange Rate Forecasts From MUFG Growth Concerns hamper Commodity Currencies MUFG notes important uncertainty over the outlook for Reserve Bank of Australia (RBA) policy. On balance it expects that the RBA will not hike rates again. As far as the currency is concerned, it adds; “We continue to see AUD/USD moving higher but assume underperformance...
Hey Traders, in today's trading session we are monitoring EURCAD for a selling opportunity around 1.43600 zone, EURCAD is trading in a downtrend and currently is in a correction phase in which it is approaching the major trend at 1.43600 support and resistance zone. Trade safe, Joe.
Entry: 1.33459 Stop Loss: 1.32922 (53,7 pips) Take Profit: 1.36188 (272,9 pips)
EURCAD keeps falling. The price broke and closed below one more key daily support. 1.4327 - 1.4350 area turned into resistance now. I suggest looking for shorting from that zone. Next support - 1.425 ❤️Please, support my work with like, thank you!❤️
SLO @ 1.3770 ⏳ TP4 @ 1.3740 (closing ALL Buy Orders) TP3 @ 1.3633 (shaving 25%) TP2 @ 1.3566 (shaving 25%) TP1 @ 1.3466 (shaving 25%) BSO @ 1.3366 📈 BLO @ 1.3305 ⏳ ADDITIONAL INFO: With CAD and USD News on the horizon, I'm anticipating another bounce to the upside before PA continues the DT.
There is a potential 3 Falling Peaks Pattern with Hidden Bearish Divergence visible on the Monthly Timeframe and if it plays out we could see the USD dump down to around the 0.886 retrace at 0.95CAD.
I just placed the following trade. This is a counter-trend trade. Enter at your own risk. Manage your trade and use conservative position sizes. USDCAD...UT SLO2 @ 1.3452 ⏳ SLO1 @ 1.3438 ⏳ TP @ 1.3433 (1H) MO-LONG @ 1.3377 📈
Hey Traders, in today's trading session we are monitoring NZDCAD for a selling opportunity around 0.81650 zone, NZDCAD is trading in a downtrend and currently is in a correction phase in which it is approaching the major trend at 0.81650 support and resistance zone. Trade safe, Joe.
The USDCAD traded lower, since the start of June, reversing from the 1.3650 price level, now hovering along the 1.34 price level. Over the last couple of days, the USDCAD had been in a narrow downward range. The Bank of Canada (BoC) is due to announce its interest rate decision. With the current rates at 4.50%, there has been speculation that a surprise rate...
Hey Traders, in today's trading session we are monitoring AUDCAD for a selling opportunity around 0.90100 zone, AUDCAD is trading in a downtrend and currently seems to be in a correction phase in which it is approaching the major trend at 0.901000 support and resistance zone. Trade safe, Joe.
-Divergence on MACD RSI on support zone implying false breakout -Strong Bull candle -Tp on the next mini resistance area -Sl below the divergence low 1.8 r/r including spreads without exhausting the ranges
Fundamental Backdrop BOC monetary policy statement today, expected to maintain. Potential bearish pressure coming into USDCAD if BOC hikes. Technical Confluences Near term resistance level at 1.36374. Near term support level 1.33166. Idea We believe that the BOC will maintain interest rates and this will solidify the notion that USDCAD will...
CADCHF has nicely reacted to a key horizontal support: the price formed an ascending triangle on 1H time frame, its neckline was violated then. I expect a bullish move now. Goal - 0.678 ❤️Please, support my work with like, thank you!❤️
CADJPY hit today the top of the HH trendline that started the Channel Up at the start of the year. 1D is naturally on firm green level technically (RSI = 64.634, MACD = 1.030, ADX = 45.677) but the RSI has been trading on a flat Rectangle since May 18th. It is the same pattern that led to the February 18th High. Our trigger level to sell is the crossing under the...