Pair : USDCAD ( U.S Dollar / Canadian Dollar ) Description : Completed " 12345 " Impulsive Waves and " A - 1234 " Impulsive Waves. Falling Wedge as an Corrective Pattern in Short Time Frame with the Breakout of the Upper Trend Line and Retracement. Break of Structure and Retracement.
USDCAD is at the bottom of a trading range and near the Weekly 200EMA which acted as good support in the last bull trend opportunity from July to October. Now that we're here, should we long? How do we trade this? 🤔 We almost have enough price action to justify a long entry. Longing now would be maximally risky because we don't have a good buy signal bar yet....
USDCAD overtaked 9 january high. So i am bollish on usdcad today.
H1 - Higher highs. No opposite signs. Until the strong support zone holds I expect the price to move higher further after pullbacks in the short term.
There are several reasons why we could see a bullish move in the USD/CAD currency pair: 1. **Moderating Canadian Inflation**: Multiple sources, including RBC Economics, NBF, and CIBC, suggest that Canadian inflation is expected to moderate in November. This is primarily driven by factors like a drop in gasoline prices, easing food price growth, and a slowdown in...
USDCAD fell out of the bull channel as predicted from last week's analysis and hit the profit target of 135.500. We are now sitting on the 200EMA with no sign of support, do we short? How do we trade this? 🤔 We do not short! We're on potential support, the RSI is at 32.00, we haven't had a good pullback in 10 bars, best to wait on the sidelines. What we...
We have a lot of liquidity above our area of interest that the price must take to continue in our direction, it may be that in Asian time it will be in a range and when London opens it may manipulate below and continue on its way
USD/CAD bounced nicely off of 1.36300 for a nice 200+ pip run to the upside. We ended last week with a Daily Pin Bar Bear candle, and DXY (Dollar Index) was in a trading range. Where does that leave us for this week? First, we're in a bull channel which means the probability of profit is in the bull's favor. I am looking for a long entry and have no interest in...
I have marked out a potential Demand Zone after the market has broken previous structure towards the upside. So far my POI has been respected and I am waiting for lower timeframes to shift into a bullish momentum. Will publish lower timeframe chart below.
USD/CAD has had a hard rejection at the top of the Daily Bull channel. Unfortunately, we did not close the gap between 1.39 and 1.40. Instead, we fall back down to the 1.36500 area and still have some room to fall. I would start longing around 1.36, look for entries on the 1hr or 4hr chart and hold a position until the top of the bull channel. Key Points: 1....
USD/CAD has finally broken out of the bear channel/bull flag and closed near its high on the Weekly chart. Current price is at 1.38750 with a nice gap to fill at the bear channel high of 1.40000. This is an ideal Daily or Weekly scalp, placing your stop below the channel top of 1.37000 or the Weekly 9EMA. That creates a Risk/Reward Ratio of 2:1, which means your...
USD/CAD had a fantastic bounce off of the bull channel bottom (1.36600) just below the 1HR 200EMA, leading to a 120 pip run to the top of the channel (1.37800). If you followed my last USD/CAD 1HR Analysis, this was the exact move I was after, which has now ended. Where do we go from here? Key Points when considering a long: 1. We're at the top of a bull...
USC/CAD may have established a new support with the Weekly resistance as shown in in my USD/CAD Weekly Analysis Idea from October 9th. We have several factors pointing to remaining long at this stage: 1. Currently in a Bull Channel 2. Weekly Resistance is starting to act like Support 3. We have a minor Bear Channel/Bull Flag on the hourly 4. Last weeks Weekly...
H4 - Bullish trend pattern. Currently it looks like a pullback is happening. Until the strong support zone holds my short term view remains bullish here.
On the H4 timeframe, there is bullish order flow, with higher lows and higher highs created. A throwback to support zone at 1.3380, which is in line with the 61.8% Fibonacci retracement level, could provide bullish acceleration towards the resistance zone at 1.3580, which coincides with the 141.4% Fibonacci extension level. Price is currently hovering above...
H4 - Strong bullish momentum Higher highs No opposite signs. Until the two strong support zones hold my short term view remains bullish here.
The DXY (Dollar Currency Index) seems more bullish than CAD. I believe that this pairs will gradually rise to whole next week.
On the 4H timeframe, there is bullish order flow, forming higher highs and higher lows. Price tested a key resistance zone at 1.3650 on the 4H timeframe. A throwback to the key support zone at 1.3590, which is in line with the 38.2% Fibonacci retracement, and a break above the confirmation level at 1.3650 could provide bullish acceleration towards the resistance...