USDACD price meet on Weekly, Daily, H4 nested Dmend zones. Nice bulish activity supported with the volume. And mainly COT data says this will fly up. On the way up, when Daily Supply zone well be absorbed I will add another longs on new created demand zones. Targets 1.28 1.30 1.33
USDCAD just removed demand zone and is droping. 1.27 area could work as long area and take us to monthly downtrendline, with confluence of WK and Daily supply zone.
50% fib level reached, price action showing good reversal price action on daily.
USDCAD long position. Short term.
letz see what will happen here.. pretty nice down move with a pullback almost to the 38% fib... we have rsi divergence ..price is touching support from h4/daily .. we not hit 127% expansion yet but we also do not hit 38% on the point so just give me a good break of that S/R zone to enter a long position stay patient and WINNING
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With OPEC still not being able to control global oil glut, and the Fed rate hike dust has already settled, it's more likely that CAD will continue be bearish while USD starts to recover a bit (relative to CAD at least). Setting up a buy stop order at prior periods S4 pivot line, with SL between current periods S3 & S4 pivot lines, with first TP near S2, and if...
USDCAD buy signal from 1.37. Short-term trade: Target is 1.382~ area Long-term trade: Target is 1.4 by Q2.
Hello traders. USDCAD is set to reach the 1.40 area by Q2 by various institutional research. As such, dips will be viewed as value buying opportunities until proven otherwise. I hope this information is useful to both the short-term and long-term trader in determining major market direction. Enjoy and remember to follow!
USDCAD held today above s1 at 1.36 while OIL remained below $47. Fundamental conditions remain the same prior to the Friday reversal on USDCAD and OIL so technicals should continue in their overall direction. Imminent upside target on USDCAD is 1.3822/40 while longer-term targets go as high as 1.39/1.40. Enjoy!
Risk is still certainly to the upside on USDCAD despite the 60 pip intraday retracement earlier today.
I don't like libra but i think that one worth it, if you want be sure buy the breakout