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USDCAD BUY Analysis Tp at 88 pips and SL at 30 pips
Fib channels and fib retrace. Monthly tippy tops and bottoms in light white. Last Month's Top Bottom in White. This and previous week top in blue. Last week's close in dotted blue. I'm bullish Dollars. Bearish oil.
Call it a hunch .2 red .3 orange .5 fibonacci is yellow. .6 pinkish .7 purple Moving Averages 18, 52, 65.
🔰 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...
🔻 USDCAD Daily Candle will close Bearish as the DXY is dropping - DXY has created a Lower Low ( LL ) and reached our Target successfully 🔹 Our major Support from here is 1.2400 Level then to 1.2300 figure 🔹 as long as the price is holding below 1.2600 will remain Bearish ✅ Oil + DXY will support this pair to drop more to the downside 🔔 We will trade USDCAD...
🔻 USDCAD Daily Candle closed same as DXY as a Doji — If you noticed Price traded to the Upside respecting the Order Block ( OB ) that is has given last night then dropped down to create another Lower Low ( LL ) — Another Doji Candle will give us a further space to the downside 🔹 Our major Support from here is 1.2500 Zone then to 1.2400 Level 🔹 We are under...
🔻 USDCAD Weekly Candle closed bearish after a Doji Daily Candle - The market will face a bearish movement 🔹 Our major Support from here is 1.2500 Zone 🔹 As long as the price is trading below our red dot line will remain Bearish ✅ The next bearishness likely to come from Oil + DXY which they are dropping from last night ( This is the Liquidity for USDCAD...
UCAD broke the old bottom and recovered to 0.5 fibo Recommendation: Sell UCAD
🔻when the DXY has no significant movement, the USDCAD moves slowly as the price printed Doji on the Daily Time Frame 🔹 The next Support is 1.2500 below our Bearish Target 🔹 The next Resistance from here is 1.2800 — Target ( Current Resistance ) will get tested if the DXY is Bullish 🔔 We need Volatility from DXY and Oil to move USDCAD
🔻 USDCAD Daily Candle closed Bearish after a Doji close = means a Bearishness market is coming soon — we need a strong DXY to get a bearish support for USDCAD 🔹 USDCAD Support from here is 1.2500 ✅ The next bearishness might come from Oil + DXY which they are dropping from last night
Breakout and retest with three white soldiers (strong reversal)
Parallel to a rise in equities im awaiting a weak usd due to central banks declaring they will continue with their expansive monetary policy what is going to devaluate the usd further
🔔 Any breakout will offer us a decent move from here — to get the breakout USDCAD needs to be above 1.2805
You will hate me for that, but thats my guess for the next 4 weeks of ucad, to me its very likely that we extend the current downtrend, QE will push the usd further down, no matter what politicans say, as long as Jerome Powell isnt saying he wants the dollar to rise, the dollar will not rise Stocks and bonds may rise, the dollar wont, thats my guess so far, we...
🔹 The major support is 1.2600 and then 1.2500 🔔 A bearish oil should help USDCAD to go higher from here