Hello Traders it looks like GBP/CAD is going to retrace partially it's last drop Zone 1.70900 is a very good place to jump for 1.722. We anticipate the price to move a bit down and then move toward 1.722. Any break below 1.70700 will invalidate our analysis. Our technical view has been shown in the chart. If you like it then Support us by Like, Following, and...
Hey Traders, in today's trading session we are monitoring USDCAD for a buying opportunity around 1.35700 zone, USDCAD is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 1.35700 support and resistance area. Trade safe, Joe.
At the end of January we highlighted the potential for USD/CAD to retrace back to its 50% level and print a swing low. It worked out well - although the 1.36 target did not arrive as soon as hoped. Still, it reached that key level on Wednesday - and it is a level that remains of interest. Not only did prices fail to close above the 1.36 handle and weekly R2...
My analysis on USD CAD, I use limit orders so I don't need to be in front of the chart all day. To consider this a good entry there are certain criteria to follow: 1. Clean BoS with IMB. 2. * Look for areas where liquidity has been purged. 3. * Stochastic: long trades 0-15, in short trades 85-100. ( * ) = Not optional but increases our probability. I use...
We updating last chart of AUD CAD, and adding one more position. I use Fibonacci to get these extreme points and my preferred one is 75% retracement, with a risk-reward of 1:3. Trade carefully This is not financial advice, DYOR.
Hey traders, in today's trading session we are monitoring USDCAD for a buying opportunity around 1.35600 zone, USDCAD is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 1.35600 support and resistance area. Trade safe, Joe.
Market Surprise? June Rate Cut Might Be Delayed After today’s BOJ and RBA interest rate decisions, eyes will turn to the Fed’s decision on Wednesday. Although the US central bank is expected to keep rates unchanged, it could change its outlook due to the upside surprise in the latest CPI and PPI reports. For now, the first cut is still seen happening in...
My analysis on USD CAD, I use limit orders so I don't need to be in front of the chart all day. To consider this a good entry there are certain criteria to follow: 1. Clean BoS with IMB. 2. * Look for areas where liquidity has been purged. 3. * Stochastic: in uptrend 0-15, in downtrend 85-100. ( * ) = Not optional but increases our probability. I use Fibonacci...
My analysis on AUD CAD, I use limit orders so I don't need to be in front of the chart all day. To consider this a good entry there are certain criteria to follow: 1. Clean BoS with IMB. 2. * Look for areas where liquidity has been purged. 3. * Stochastic: in uptrend 0-15, in downtrend 85-100. ( * ) = Not optional but increases our probability. I use Fibonacci...
Hey Traders. in today's trading session we are monitoring USDCAD for a buying opportunity around 1.34700 zone, USDCAD is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 1.34700 support and resistance area. Trade safe, Joe.
Hey Traders, in the coming week we are monitoring NZDCAD for a selling opportunity around 0.82800 zone, NZDCAD is trading in a uptrend and successfully managed to break it out. Currently is in a correction phase in which it is approaching the retrace area at 0.82800 support and resistance area. We would also consider the current bearish bias on stock market and...
USDCAD is almost neutral on its 1D technical outlook (RSI = 55.021, MACD = 0.001, ADX = 15.874) as the price has been mostly ranging within the 0.5 - 0.618 Fibonacci zone for the past two months. The 1D MA50 held and the push crossed over the 1D MA100 again, so on the short term we expect a HH on the 0.382 Fibonacci (TP = 1.36400). After that test, the price...
Hey Traders, in today’s trading session we are monitoring USDCAD for a buying opportunity around 1.34100 zone, USDCAD is trading in an uptrend and currently is in a correction phase in which t is approaching the trend at 1.34100 support and resistance area. Trade safe, Joe.
GBP has been the strongest performing currency so far this year - I keep asking myself why?? Country in a recession Stagnant economy Limp Central Bank With today's unemployment reading I'm expecting this to be the start of bearish involvement in sterling, I'm starting with this pair. Think oil has dropped a lot and could be ready to bounce up which is...
The GBP/CAD pair on the M30 timeframe presents a potential selling opportunity due to the presence of a well-defined bearish channel pattern. This 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 around the current price of 1.7262, positioned...
Hello, traders I have been analyzing the CADJPY market trend for a while now and if you look closely it has created a rising wedge pattern on a Daily time frame for my understanding, this pattern signals a bearish move. So now I will wait for the price to break the trend line and that zone I highlighted and come back to it and act as resistance then I can look for...
The USDCAD pair gave us a strong buy signal last time we traded it (February 09, see chart below) but was rejected right under the 0.618 Fibonacci retracement level: A similar rejection happened on December 07 2022 and April 25 2023 which resulted into a sell-off to the lower Support Zone. Even though the medium-term pattern is a (dashed) Channel Up, the...
Hey Traders, in the coming week we are monitoring USDCAD for a selling opportunity around 1.35400 zone, USDCAD is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 1.35400 support and resistance area. Trade safe, Joe.