Monfex is at your service and today we overview USDCAD.
After formed XABCD pattern figure the price was aimed to the support line. RSI has crossed 60% and going to the oversold zone. Short from the resistance.
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USDCAD - Intraday - We look to Sell at 1.3280 (stop at 1.3315)
Posted Mixed Daily results for the last 9 days. Trades with a bearish descending triangle formation. Rallies continue to attract sellers. The trend of lower highs is located at 1.3285. A break of bespoke support at 1.3233, and the move lower is already underway. The formation has a measured move...
Hope all is well, my 9th published trade on Tradingview.com (XAUUSD has hit take profit as of last night major move was caused by FED cutting interest rates by 2% and banks driving price down to close gaps in the market)
Taken this short based of recent moves in the FX market, main reason for this short was because of daily closing below the 38.2% fib...
USDCAD - Intraday - We look to Sell at 1.3260 (stop at 1.3295)
3 positive daily performances in succession. The 50% Fibonacci retracement is located at 1.3258 from 1.3134 to 1.3382. Bespoke resistance is located at 1.3262. Last week Marabuzo is located at 1.3239.
Our profit targets will be 1.3140 and 1.3100
Resistance: 1.3239 / 1.3260 / 1.3295
Support: 1.3200 /...
Hope all is well, my fourth published trade on Tradingview.com ( GBPJPY IS still complete with 100% accuracy and 0% drawdown. This can be found on my story on IG, below)
Taken this short based on a slow down of momentum, another closure below the strong resistance level of 1.32000 would be another indication of a push lower on USDCAD. On the 4hrly, 50...
A lot of top tier economic events coming out of Canada this week. Canada's economy has been outperforming in the last few events, except oil prices haven't been helping the Loonie.
The Greenback's July-August uptrend seems broken and tested in the 4 hour chart.
A good area to sell around the 13.320 for a good risk reward ratio.
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USDCAD - Intraday - We look to Sell at 1.3274 (stop at 1.3304)
Ichimoku cloud resistance comes in at 1.3295. Levels above 1.3295 continue to attract sellers. Our bespoke resistance of 1.3254 has been clearly broken. Price action has formed an expanding wedge formation. The medium term bias remains bearish. Reverse trend line resistance comes in at 1.3278. Bespoke...