CADCHF was coiling for more than a month within a wide horizontal trading range on a daily. Its support was finally broken yesterday. I believe that the pair will keep falling now. Next support - 0.679 ❤️Please, support my work with like, thank you!❤️
Overnight, the Bank of Canada (BoC) released its decision to hold interest rates at the 4.50% level. This was in line with the overall market forecast. However, the decision to hold rates saw the Canadian Dollar weaken (while the DXY remained on its bullish uptrend), resulting in the USDCAD claiming new highs, testing the 1.38 resistance area. If the DXY gains...
CADCHF has been examined in different dimensions: 1- Strong supply and demand levels that I identify with my own indicator and system. 2- The structure of recently formed waves 3- Current market momentum 4- The structure of classical and price patterns In this idea, I identified the direction of the market in different ways and in the second step, I analyzed the...
Hey Traders, NZDCAD is approaching an important Supply and demand zone so i will be watching a buying opportunity around 0.835 zone as it has been rejected multiple times as mentioned in the chart. i would set 0.855 as a potential target which is considered the trend resistance in case of a decent rejection from the demand area. i would also recommend to take a...
Looking at the H4 chart, the price is respecting the ascending trendline. We are looking for a buy entry at 1.3805, which is a swing high. The stop loss level will be at 1.3855, and the take profit level will be at 1.3699, which is an overlap support level. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained...
AUDCAD dropped to a key daily structure support. The price formed a double bottom pattern, testing that on 1H, its neckline was broken then. I expect a bullish move to 0.91 / 0.9117 ❤️Please, support my work with like, thank you!❤️
Hey Traders, It's about time to wait for the Head and Shoulder pattern forming on the 1H TF to complete then wait for the price to successfully break above the CHoCH, aggressive trader can enter a buy while conservatives can wait for retest of the CHoCH before entering a Long position. Watchout Guys!
GBPCAD on the 4h chart is trading exactly at the fair value over the 50% support of the previous impulse. We can notice how the market created a range with a spike over the 1.65000 area that seems to be a head and shoulders pattern. The Head and shoulder pattern works in a better way at the top of a trend while here we are not but in case the price will break...
3 CAD pairs to watch out for this week for more bullish opportunities. USDCAD NZDCAD GBPCAD
These days we are witnessing a high excitement in the Canadian dollar and we can see this in the form of candles. In my opinion, the weakness of the Canadian dollar against the franc is obvious, but we must not forget that there is an important level in front of the price that we cannot comment on the continuation of the movement until it is broken.
CAD - Trade idea! Another week, another trade opportunity! USDCAD - Very clear levels. Currently we are within the ranges. Highs: 1.36600 Lows: 1.35375 A break of key resistance highs, we could go towards 1.37730 areas. However, we if break below the lows and further down below 200 EMA I expect it to reach towards 1.34380. Keep in mind false breaks out,...
Hey Traders, USDCAD is approaching an important resistance zone at the top of the pattern, we will be considering a selling opportunity around 1.365 zone, USD environment is pricing too much strength in which we expect the market to go against retails. if we manage to get a dip below the pattern we will consider a retrace around 1.358 zone. feel free to ask any...
Hi there! This week is going to be important for the USD/CAD exchange rate, with several key events in the spotlight. The Bank of Canada Rate Decision, Nonfarm Payrolls, and Federal Reserve Chair Jerome Powell's testimony are all going to be closely watched. So far, USD/CAD is up 0.11%, with a low of 1.3581 and a high of 1.3628. The Bank of Canada is expected to...
If the price were to break the descending trendline, our 1st resistance area is 1.3665, and if it were to reverse from this level, it could potentially drop to 1.3519, where the 38.20% Fibonacci retracement which overlaps support is. The next support level after that is 1.3439. As for the stop loss, it is recommended to place it slightly above the recent swing...
Fundamental Backdrop 1. The Ivey PMI which is a leading indicator of economic health released dropping from 60.1 to 51.6. 2. This indicates that the industry is contracting. 3. Showing a decrease in business activity and confidence in the Canadian economy. Technical Confluences 1. Price recently bounced off the 1.35700 support level which coincides with the...
Hello guy! CADJPY Idea! This is a CONFIRMATION entry.. Will look to enter AGGRESSIVELY! Take care!
Hey Traders! USDCAD has been in this channel for a while, we just need a candlestick confirmation to enter the trade long, look for entry maybe on the 1h timeframe, if good price action you could enter and aim for the channel top to max pip gains.
Hey Traders! Overall market direction is bullish and there is still space for movement about 60 pips before we reach higher timeframe sensitivity, if that breaks we reach further highs if not you bank 60 pips.