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Hi, As you can see on the chart there is a good triangle, wait to breaks! Good luck! :)
Usdcad - Daily chart - I see price struggling in a daily supply zone so I am expecting a sharp drop for this pair.
USDCAD IT'S FORMING A CONTINUATION PATTERN FOR MORE DOWNSIDE. IF YOU WANT TO SELL, SELL FROM TOP. IT'S THAT SIMPLE. IF YOU LIKE MY TRADING IDEAS, GIVE ME A LIKE AND SUBSCRIBE.
USD/CAD previous Bearish views and set-ups worked out amazingly good and the Members cashed in some impressive green pips. Previous Articles: USD/CAD (dollar/loonie) - Elliott Wave - Long Term Forecast - BUY & SELL USD/CAD-Dollar/Loonie – Bearish Break-Out – Intermediate (C) Now it looks like another Bearish Wave could be preparing, therefore, I am...
With strong economic data coming out of Canada last Friday and a weak USD, further declines are expected. A pullback and re-test of broken support, turning resistance, at 1.27730 will provide a great place to look for Shorts down towards the targets of 1.26382 and 1.25675 respectively.
Last week price broke below the key are of 1.27730 after breaking above it and failing as support, forming a Bear Flag in the process. Next week we look for further advances with a retest of 1.27730 providing a great place to look for shorts, down towards the targets and next key areas of support to the downside at 1.26382 and 1.25675 respectively.
UsdCad - Daily time frame - Longs in play due to the simply bullish structure on daily time frame and usd strength and oil weakness.
Last week we tested the 1.27730 area of support (as expected from last week) fairly deeply. As the re-test was deeper than desired we will look for a break back above the 1.27730 before looking for long opportunities to the target of 1.29973.
Last week price broke above key resistance at 1.27730 and is currently in the process of correcting back into this area to test it as support. This provides a great place to look for longs up towards the target of 1.29973
Last week UsdCad bounced from key support at 1.24488 stopping just short of the target at 1.26491. This week we look for a Bull flag correction, and possible test of intermediate support at 1.25207, in order to initiate longs up to the initial target of 1.26491 and a possible breakout clearing the way for the second target at the 1.27730 area of resistance.