As we can see bullish structure on weekly and daily and price has already reacted from the daily support level we can expect price will come down to the demand level marked on 2H time frame before moving further up
USDCAD
Weekly bias for next week = bullish
Strong H4 reaction from weekly BPR (balanced price range)
Next target Weekly swing highs (marked on chart)
Will consider limit entries from h4 FVG's (fair value gaps)
If at the computer at the right time, will watch for m15 long triggers within H4 FVG's.
Annotations on the chart
News shouldn't really be impacting price action but sure as heck moves it.
4 weeks worth of shorts in the market for an explosion during Canada's CPI news on Tues.
Last Fri was first green day. Looking at the Asian session or the following days for a potential buy at the 50's @ H1 supply and will hold if price sustains bullishness -- that...
USDCAD is looking bullish, with a break off a descending trend line and a formation of higher highs and a previous higher low on the 3rd touch of the counter trend I do expect cad to potentially rise up to 1.31
Bullish intent loading. Price broke a major support level. Tested the fib level. Checking the cot USD is looking quite bullish with more longs been added.
USDCAD Looking good for a buy, after price broke the daily support key Level. USD looking strong on COT with more longs been added and net positions increasing.
In H4 timeframe we see that USD/CAD is so bearish in the expectative, for now, we found out that USD want to up at least 100 pips or pull back later that in Daily we broke down the Shoulder Head Shoulder. That expectative could reach the price in the 0.382% of Fibonacci using the Daily timeframe, that mean a movement of 100 pips to pick up our earnings. And then,...
USDCAD Has found support at Dec. 3rd lows. There are several signals that are pointing to an upcoming bounce. Let's take a quick look:
USDCAD had a very strong decline and stopped at Dec. 3rd low prices. This is marked yellow on the chart.
We have a Morning star pattern that formed on the last three closed candles.
The MACD is curving up with a bullish...
Hey guys,
I'm long the USD. I don't think governor Poloz will hike rates anytime time year. Maybe next year if things get hot. Economic indicators are weak. Earlier, Retail sales and CPI under performed and disappointed investors. Furthermore, BoC was said to have angered PM Trudeau when they hiked rate in two quick succession claiming they were offsetting 2015...
