As private sector employment increased by 200,000 in March, down from February, and Yellen citing even high global economic outlook, this continues to dampen the U.S. Dollar pair and the anticipated rate hikes.
Despite Yellen still sees two rate hikes for the remaining of this year, charts show a different outlook.
The US Dollar fell to a four-month low last week with prices testing 94.50 support on dovish FOMC meeting. But prices managed to reverse their losses with the Dollar Index posting steady gains, for the most part, this week. Prices rallied for nearly four consecutive days after falling to the 94.50 support.
The gains in the US Dollar came about as various Fed...
I believe to have found a H&S pattern on the daily chart in UsdCad
I am selling below the neckline - SL at 1.36, target of the H&S is around 1.2550
UsdCad put in new lows on Friday, after the data releases (and bad number on earnings)
Also Crude Oil is on the way up again - next target 38-40
The combination of these two will probably bring Usd down more the...
Tomorrow (Friday - 18) we have CAD news Consumer Price Index. Maybe tomorrow will not do the exactly idea, but after this we can expect respect to the lines.
MOEX:USDCAD
. Eventual ABC correction, targeting $1.31 price zone;
. Eventual Bullish Bat or Gartley pattern between monthly resistance @1.34555$ and monthly support @1.28310$;
We just need to wait for the end of correction;
Short B to C, Buy the Harmonic; IF=THEN
BAT:
Point B:
38.2% to 50% XA
Point C:
38.2% to 88.6% AB
Point D:
88.6% XA
Targets:
TP1 38.2%...
FX:USDCAD
GARTLEY
Point B:
61.8% can not touch 78.6% XA
Point C:
38.2% to 88.6% AB
Point D:
78.6% XA
127% ext AB
Target:
TP1 38.2% AD
TP2 61.8% AD
Safe Trades;
open.spotify.com
I keep milking this pair like a cow that's in my barn....
Well, I think I've had like, 3 trend continuation setups all week that fit my rules, all of them worked out and were profitable. I don't see the downtrend ending anytime soon.Let the good times roll. All we need is a reason to get involved. Hitting and running on this pair has been working out.
Yet...
