USD/CAD has recently reached an area of overhead resistance where we have previously seen price turn. We can also see that there is hidden bearish divergence forming on the MACD which I am using as the basis for taking this trade as it tells me that the market is losing momentum - once the MACD crossover occurs I will entering the trade.
Last week ended for the dollar is not the best way. Statistics on the US labor market came out slightly worse than expected: +145K new jobs outside agriculture instead of the expected +160K. On the one hand, it’s okay, but on the other hand, after +200K of employment from ADP, it seems to be not enough. On the whole, our predictions for NFPs based on statistical...
Optimism and belief in a bright future are generally quite positive things, but you should not abuse them, because this is fraught with a separation from reality. What we observed in the last couple of days in the financial markets, in our opinion, was that separation from reality. Asset prices are as if there were no killing of Suleimani, mutual threats from the...
Buy from current and 1.2868, Stop-loss - 1.2768, Control - 1.3232, Take-profit - 1.3573
The monthly graph shows the current price point is at a major historical support/resistance. This area was a major support zone for the exchange rate in the mid-'90s. Visited again in the early '00s, 2009. but more recently, 1.32625 (+/- 200 Pips active range) is a highly contagious price point for the pair since July 1st, 2015. Since then, 1.32625 has been...
Entry, SL & TP have been illustrated in this USD/CAD video.
This pattern is complete and confirmed with divergence. RSI also starting to show higher highs Entry: 1.313 Target: 1.139 Stop: 1.310 Dont forget to like the post, and comment with your thoughts below! May God bless
LONG USD/CAD FOR A POCKET TRADE ABOUT 125 PIPS. EUR/USD IS OVER BOUGHT AND SHOULD RETRACE BRINGING THE USD UP. ALSO 4HR OIL STOCH RSI IS OVER BOUGHT WHICH SHOULD ALSO RETRACE PUSHING THE USD/CAD HIGHER.
Weekly outlook for USD/CAD for the upcoming week of June 27th - June 31st.
A quick note on the USD/CAD. Seems like we are on a strong support for three reasons: 1) 1.3300 Psychological level 2) Fibonacci level 0.628 3) Descending triangle on the 1hr/4hr Expecting it to bounce back up (depending on what 's going on with the China/US trade talks)
On the monthly Chart we have a gigantic bearish engulfing that can not be ignored, straight sell off down to key level 1.3100 (weekly level) This was projected in the 'swinging its way down to 1.31' post I uploaded! Price has since clawed its way back to 1.3200 a key level which coincides with my favoured Fibonacci levels! Shorts have been activated and are ready...
USD-CAD short trades activated!
OANDA:USDCAD
USD/CAD 1 hour chart looks like a sell. Price just bounced off the upper ascending channel resistance. Use low risk as 4 hour timeframe is still showing a buy