USDCAD upcoming week Technical Forecast as FOMC on the way to hit market, so follow money management properly GOOD LUCK !
Hey Traders, in the coming week we are monitoring USDCAD for a buying opportunity around 1.346 zone, USDCAD was trading in a downtrend and successfully managed to break it out and now seems to be in a correction phase in which it is approaching the retrace area at 1.346 support and resistance zone. trade safe, Joe.
Deviation here, cad is clown currency USD is king. Taking profit before 39 but it's going above 1.40
Hi Traders, Check this out - USDCAD could start a fresh bearish momentum, after breaking of the bullish trend. However, with the uncertainty on how heavy FED could bump dollar this is better wait on for a break below the Triangle pattern before looking for a better short trade entry. That is what i will do, provided that we get a solid breakdown and retest of...
Hey Traders, USDCAD was trading in a downtrend and successfully managed to break it out after some hawkish comments about the monetary policy that have triggered USD strength. in today's trading session we are going to be watching a potential retrace of the trend from 1.335 support and resistance zone towards previous highs. Trade safe, Joe.
USDCAD has been exhibiting a bearish trend, with a recent downward price movement that tested the key resistance level of 1.34000. However, the price retraced to the 50% Fibonacci retracement level of the previous impulse, which could potentially act as a barrier to further upward movement. This retracement also coincides with the price moving back over a daily...
CAD NEWS TRADE SSO @ 1.3456 📉 TP1 @ 1.3385 (shave 50%) TP2 @ 1.3275 (close trade)
The bearish flag pattern is a common technical analysis pattern that is used by traders to identify potential trend reversals or continuation. This pattern forms when there is a sharp downward move (the flagpole), followed by a brief period of consolidation (the flag), before another downward move. In the case of the USDCAD pair, we can see that the pair has been...
After price swept trendline liquidity at the top. it mitigated our POI and then gave us a break of structure to the downside with momentum. This symbolized that price has change direction back down and is looking to take liquidity at the bottom of the trendline.
USDCAD on the 1D chart has traded at the recent high. The price after testing the weekly support at the 1.33 level started an impulse that drive the pair to a new test of the monthly resistance with a spike. We can notice how the market turned at the 0.886 Fibonacci retracement from the previous recent high to the 1.33 level. How can i approach this...
The Canadian dollar remains relatively weak against the greenback, as it continues to hover near its cyclical high. While many investors fear a tightening of global credit conditions, some believe that Canadian bank could face a very difficult environment due to their exposure to residential real estate in a much higher interest rate environment. Combined with...
Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. USDCAD is has been overall bullish trading inside the fat rising red wedgel, and it is currently sitting around the lower red trendline. So we will be looking for buy setups on lower timeframes. Moreover, the green zone is a strong support. 🏹 So the highlighted purple...
CAD is quite stronger than the USD at the moment, even though its on an uptrend, the uptrend is appearing inside the range, lets wait for an opportunity to sell.
The USDCAD traded strongly to the downside as the price failed to break beyond 1.3745 and fell beyond the support level of 1.3650. This move lower was due to a combination of the renewed weakness of the DXY but more because of the surge in oil prices. WTI traded up from the 69 price level, breaking beyond the near term high of 71.40 to reach the round number...
The USD/CAD currency pair is currently trading in a tight range, as it is influenced by a combination of factors. The Loonie, as it is also known, is being supported by a recent uptick in oil prices, which has increased due to fears of potential supply disruptions in the Middle East. This has acted as a headwind for the USD/CAD pair, which is also being weighed...
On the H1 time frame, prices are testing the support zone at 1.3650, in line with the graphical support and 38.2% Fibonacci retracement where we could see a further upside above this level. A break above our upside confirmation level at 1.3720 which is also a supply zone could provide the bullish acceleration to the resistance zone at 1.3800. Failure to hold above...
Hey Traders, USDCAD feels a need of a correction before continuation to the upsides, in tomorrow's trading session i'm monitoring reversal from 1.364 supply and demand zone at the trend. if the rejection is confirmed i will set 1.375 as a target as it's considered the next major support and resistance zone USDCAD will be facing. Trade safe, Joe.
USDCAD / 4H Hello traders, welcome back to another market breakdown. Technical analysis: The USDCAD currency pair has been experiencing a bullish trend , with the price consistently breaking higher. Furthermore, on the monthly time frame, the price has rejected a major key level. However, Today we have CPI data, we I'll be carefull with any setup based on...