We saw a resistance around the 1.2777 region which previously served as resistance, after seeing a head and shoulder formation with clear signs of weakness, I've decided to short till 1.25652 region which is a strong level of previous support.
USDCAD Form Double Bottom Pattern and it's expected to go higher. you can enter trade now or wait for neckline retest
On the daily tf, just about an hour before the US Session. We have caddy showing us a potential Long leg to the upside that we can expect to reach over the next few weeks. Reason behind this is that market structure wise the pair is up trending, over the last week we made a strong bearish leg however it was not strong enough to break structure on the previous...
On the Daily TF we've been having a series of higher highs and higher lows, It looks to be that cad can have a further push to the upside all the way to me desired target of 1.27750. Should we remain above where price currently stands at 1.26600 in the daily perspective we can see cad rise above to my target soon.
After being stopped out yesterday due to the inflation news, my trade went straight to tp but anyways... The idea here is very simple, BOS, retest and confirmation. You could see this retest as a retracement towards the .786 if you draw the fibonacci, but as a matter of fact price is now over extended and gotta come down. I believe we have order blocks...
USDCAD - H4- Price broke multiple demand zones yesterday and voided my long bias off the daily chart. Now im looking at more downside on this pair before a big bullish rebound.
I'm looking at the Dollar Canadian Pair & I couldn't help but spot this Sell Model. I think in the next month or two we are going to complete this structure & ultimately reach for the 1.2000 level. Earlier this year in June the Dollar CAD made a significant swing low after purging a Intermediate swing however the purging isn't complete in my opinion. If you...
we are currently in a weekly support zone, divergence and trendline break are showing sellers weakening, a possible buy maybe in order
We're long USDCAD. On the chart, we've highlighted a break above the trendline on a high volume -- Our first target at R1, 1.2142. In terms of momentum: Daily - Bullish! 4 Hr - Bullish! 1 Hr - Bullish! ADX rising! Happy Trading folks! Cheers!
When price hit the target 1.21464 It'll drastically slide down
Here's a 4hr chart on USDCAD, we'll monitor this one closely whether it will bounce from here or break down. Happy Trading folks! Cheers!
USDCAD - Is it time to finally buy? USDCAD - In my year ahead outlook these were the levels I was talking about the 1.20 areas!! We have finally got to those areas longer term at a key 1.618 area but now it's looking a little over extended the bears. Where does this leave us? This could be a great opportunity for a trade up towards key resistance zones! Whilst...
Caddy looks like its about to erupt from the looks of its current price action. We have been on a downtrend for the longest of time and it looks like we're about to breakout and rise above. We have failed to break 1.25 by supporting this and had 2 formations of higher lows, from this the attempt to break resistance at 1.26250 is imminent and I am quite confident...
If there's such a pattern called an "inverse" cup and handle... I would say this is it. And like many patterns, a break above it or below it signals a continuation. In my opinion, this pair is poised for a move up which aligned with everything fundamentally and of course... the bull flag. P.S. If you enjoy these technical analyses please feel free to comment...
🔰 USD/CAD will follow DXY lead - So for this pair is Bullish 🔰 🔻 USDCAD Daily Candle closed Bearish - But the price is trading above our Blue dotted line which was representing a Resistance to this Bearish Trend from last year 🔹 Our Next Bearish Support from here is 1.2600 following our Target as a Major Support for the week 🔹 As long as the price is holding...
Disclaimer: this is an idea, trade off it at your own risk USD CAD has just made a false breakout and has made a strong move up and broke out of the 4H trend, it has also reached above the 200 EMA line. We should be waiting for the retracement as it approaches the 50% - 61% fib area and look for the perfect buy in that zone (140 - 260 PIPS in Profit) Then we...
Trade with care. Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. We do not recommend making hurried trading decisions. You should always understand the risk that trading implies and that PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.