USDCAD on the 1D chart has traded at the recent high. The price after testing the weekly support at the 1.33 level started an impulse that drive the pair to a new test of the monthly resistance with a spike. We can notice how the market turned at the 0.886 Fibonacci retracement from the previous recent high to the 1.33 level. How can i approach this...
GBPCAD on the 4h chart got rejected by the resistance area at the 1.68500 and retraced at the 0.786 fibonacci level. The Price touched the 0.886 with a spike before inverting and retesting the weekly structure. Overall the bias remains bullish and this make us think that a break of the resistance is still possible with an increasing pressure of the buyers. How...
CADJPY is trading inside a Channel Down pattern with the 1D technicals neutral (RSI = 51.739, MACD = -0.070, ADX = 39.994). Right noe the price is on the 1D MA50 and is bearish within the Channel Down targeting for its bottom (TP = 94.250). In spite of that, with a 1D RSI on HL and last time the price was on the 1D MA50 from a leg up, extending to the top of the...
AUDCAD is trading inside a Channel Down pattern with the 1D technicals bearish (RSI = 43.171, MACD = -0.004, ADX = 38.042). Even though the long term pattern is bearish, the rebound yesterday and closing over the 1D MA200 can be a bullish signal along with the HL that the RSI is on (bullish divergence). However until the 1D MA50 breaks, we cannot call for any...
The Canadian dollar remains relatively weak against the greenback, as it continues to hover near its cyclical high. While many investors fear a tightening of global credit conditions, some believe that Canadian bank could face a very difficult environment due to their exposure to residential real estate in a much higher interest rate environment. Combined with...
The Canadian dollar remains relatively weak against the greenback, as it continues to hover near its cyclical high. While many investors fear a tightening of global credit conditions, some believe that Canadian bank could face a very difficult environment due to their exposure to residential real estate in a much higher interest rate environment. Combined with...
Hey Traders, in today's trading session we are monitoring CADCHF for a selling opportunity around 0.677 zone, CADCHF was trading in an uptrend but then successfully managed to break it out. IF we get a decent correction i would look to sell a potential retrace of the trend around 0.677 support and resistance zone. the next major support and resistance CADCHF...
The AUDCAD opened this week below the wedge pattern, but quickly closed above it, indicating a desire for the price to move up. However, it needed to retest the strong resistance level at 0.905, which coincidentally is also where it meets a descending trendline, the upper edge of the wedge pattern, and the 23.6% Fibonacci level. Based on my analysis, this could be...
EURCAD nearly touched the two month HL trendline and the 4H MA200 today. With the 4H technical outlook on the red (RSI = 33.840, MACD = 09.994, ADX = 36.630) this is a strong buy opportunity on a one month time frame. The RSI getting oversold and rebounding, is following the path of the February 10th Low which rose slowly to nearly the 1.382 Fibonacci extension....
Hey Traders, in today's trading session we are monitoring USDCAD for a selling opportunity around 1.34300 zone, USDCAD is trading in an uptrend and now seems to be attempting to break it out with current USD weak environment, if we get a decent breakout below 1.343 we will monitor a potential retrace of the trend. Trade safe, Joe.
Hey Traders, in today's trading session we are monitoring CADCHF for a selling opportunity around CADCHF is trading in a downtrend and extending pullbacks seem to be approaching the major trend around 0.68600 zone. we expect that CHF could outperform commodities as it's considered a classic safe haven with current environment. Trade safe, Joe.
Hey Traders, AUDCAD was trading in a downtrend but then successfully managed to break out the trend and seems to be in a correction phase. if we get a decent pullback i will be monitoring a potential retrace of the trend around 0.908 support and resistance zone. keep an eye on american indices too as they do correlate positively with the AUDCAD pair Trade safe, Joe.
USDCAD / 1D Hello traders, welcome back to another market breakdown. USDCAD is trading in a bullish trend. The price now is having a deep-pull-back which I think is a good opportinity to long for a swing trade. The price is around the breakout point which very often acts as support. I'll be looking for a reaction from this level. Tarde safely, Trader Leo
keep longing it untill it breaks the trendline. if it breaks below I will give a new call ;)
This setup is based off of our larger swing setup for a possible BUY move, but we have a short term bearish order flow so we are following that for now, if we see price tapping in and dropping we will expect it to reach the lower areas of demand that you can see located at our lower swing low... it is from this stage iam looing for a possible shift to a bullish...
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Hey Traders, in the coming week we are monitoring CADJPY for a selling opportunity around 99.400 zone, CADJPY is trading in an uptrend and now seems to be in a correction phase in which extending pullbacks are approaching the major trend around 98.4 resistance zone. We would also consider potential JPY strength as there are expectations about major changes in BoJ...
Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. USDCAD is has been overall bullish trading inside the fat rising red wedgel, and it is currently sitting around the lower red trendline. So we will be looking for buy setups on lower timeframes. Moreover, the green zone is a strong support. 🏹 So the highlighted purple...