USCAD has been in a descending wedge and is being squeezed. As we're anticipating CAD weakness, could this be the start of a a bullish run for USDCAD?
We could potentially be seeing a double bottom happening now. I would wait for a break of the wedge before considering longs. Until then, I'll be sitting on the sidelines as it would be wise to wait for...
This week I am looking for CAD weakness and just so happens that CADCHF is in the perfect area to short. It's currently rejecting the channel resistance and the 786 fib.
Risk Entry: Short now and stops above the channel
Safe entry: Wait for break of the trendline and zone marked and await retest
Do make sure to leave a comment and a thumbs up if you agree! Trade safe.
CADJPY on the weekly has broken out of the major descending channel (See below) so right now we can anticipate a pullback back to retest the channel and the ascending trendline. Watch for break of the smaller ascending trendline a form of retest before entering.
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Midterm forecast:
54.40 is a major support, while this level is not broken, the Midterm wave will be uptrend.
Technical analysis:
While the RSI uptrend #1 is not broken, bullish wave in price would continue.
A peak is formed in daily chart at 64.83 on 02/18/2021, so more losses to support(s) 58.65 and minimum to Major Support (54.40) is expected.
Price is...
USOil remains bullish, and more bullish move expected.
N.B
- Let emotions and sentiments work for you
-ALWAYS Use Proper Risk Management In Your Trades
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This is a 30...
Hy dear Members hope you all are enjoying our ideas and Analysis. Now we are here to discuss about USOIL. USOIL is exactly Moving According our Analysis. Now it has crossed the main trend line in weekly chart now it has maximum Chances that it will touch 65 Price level then 53 Price level. After that we will see a Retesting to the main Trendline. Then it will...
WTIUSD update.
I would like to continue my analysis. Apparently, the D1ATR analysis strategy worked flawlessly. The current analysis shows the axis of the ascending wave sequence (orange line). According to the rule of wave techniques, the wave motion formed on the wave axis...
WTI Crude is beginning to show signs of weakness after a 4 months bullrun. We see the possibility of a short term sell off to 57.40 a QP level with potential buyside liquidity. There are two potential areas of entry: 60.00 a QP level and 60.62 a OB level. Both positions targeting 57.50 with an oportunity to take some profit at 58.50.
This does not suffice as a...
Midterm forecast:
51.60 is a major support, while this level is not broken, the Midterm wave will be uptrend.
Technical analysis:
While the RSI uptrend #1 is not broken, bullish wave in price would continue.
A trough is formed in daily chart at 51.60 on 02/01/2021, so more gains to resistance(s) 63.10, 66.50, 72.55 and more heights is expected.
Price is above...
Gold has moved within the channel currently in a bearish correction since last year and is currently forming a correction after an impulse. The next natural phase would be an impulse.
Watch the fibs closely and see if there's any bearish patterns appearing on smaller timeframes.
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WTI has given us plenty of trades over the last week since it entered is range, we made money selling and buying... but we think there could be a bigger bear move soon, hence we are short.
Even tough we might have a bullish continuation on WTI's 1D chart, we see good signs of a bearish pullback, which is just enough for us to make a...
Midterm forecast:
46.50 is a major support, while this level is not broken, the Midterm wave will be uptrend.
Technical analysis:
The RSI downtrend #1 is broken, so the probability of continuation of uptrend is increased.
A trough is formed in daily chart at 42.70 on 11/13/2020, so more gains to resistance(s) 48.95, 54.40, 58.65 and more heights is...
