USDCAD appears to be going bearish at this time. Due to the 2 strong impulses and small correction. I will go short on this pair ONLY if the following criteria is met. - Price returns to the previous level of support with candlestick confirmation - Fibonacci levels enter the 61.8% zone. *always remember to use proper RISK MAANGEMENT*
We can see a beautiful downtrend on USD/CAD on the 1HR timeframe. The price has touched the trend line and is also around the 1.37500 key level. If we see reejction from the trend line as well as the 1.37500 area, we can look at potential sells with the long term target being 1.3500 level.
It is unavoidable to operate in a structure that is too symmetrical... Symmetry always brings accumulation, that's why these structures are quite juicy! With a good risk management and a good entry model, you're done. Keep it simple! If you like me, don't forget to follow me !!!
USDCAD The Canadian Dollar is exhibiting a bearish trend as long as it remains below 1.3678, with targets set at 1.3628 and 1.3612. A reversal and stabilization above 1.3689 would indicate a shift to a bullish trend, potentially extending up to 1.3732. The pivot price is established at 1.3689, Resistance levels at 1.3732, 1.3773, and 1.3825. Support levels...
Price is in an uptrend and a breakout from the trendline and retest to the zone will take price short but without the breakout we go long...no confirmation, no entry
Watch Those Levels and Take your trade around them ! Bias is still to the downside
Here I have USD/CAD on the Daily Chart! Price on UCAD has been Ranging between the Resistance Zone @ ( 1.3880 - 1.3804 ) & Support Zone @ ( 1.3223 - 1.3116 ) since Sept. 2022!!! Price revisited the Resistance Zone on Apr. 16th-17th and since has created a LOWER LOW with price finding a Minor Support Level @ ( 1.3647 - 1.3616 ) Suspecting Price may be creating a...
It is expected that the price will fluctuate in the current range and then the beginning of an upward trend will be formed. The price is expected to fluctuate within the specified resistance and support range
This is the daily chart for USDCAD we have reached a zone for huge sell-offs but some highs need to be cleared before we can move to the next phase of sells. so if you're planning on trading this pair go for sells only leave the buys for now
When you have a good long-term structure, you need to squeeze all the juice out of the orange ... Always go for the nearest liquidity, remember! It doesn't matter the entry model as long as you correctly understand the structure and its respective movements!!! Keep it simple! If you like me, don't forget to follow me !!!
Hello friends In the USDCAD currency pair, we see the formation of a clear Elliott pattern. We are currently in wave 4 of C or 3. According to the formation of 5 microwaves in wave 4, a zigzag should be forming, which has a structure of 5-3-5. So we are waiting for a small wave 5 in wave 4 and then price growth to the range of 1.3850 and 1.3970. Usually wave 4...
We looking for buying opportunities as we are having a continuation of a bullish flag which is the correction heading to the upside which will result in buys as we are on the support level
Technical Confluences for Trade: - Stochastics are in Overbought Conditions on H1 & H4 time-frame - Price action is at a Supply Zone area - Price action may reverse towards the ascending support Trendline - Targeting the 38.2% Fibo retracement Suggested Trade: Entry @ Area of Interest 1.3760 - 1.3800 SL @ 1.3854 TP 1 @ 1.3697 (Close Half-Position & move SL to...
The current buying zone for CAD/USD stands at 0.7310, indicating a favorable entry point for traders looking to purchase Canadian dollars with US dollars. This suggests that the Canadian dollar is valued at 0.7310 US dollars, presenting an opportunity for investors to enter the market at this level. As for potential gains, traders can set their take-profit levels...
Price Action is nearing a Demand Zone on the 1H chart, so we may be able to capture rougly +200-pip opportunity to the upside. Be prepared for the probability of Price Action consolidating or ranging around the minor Resistance Level @ 1.3709 and reversing to a DT once it reaches the major Resistance Level @ 1.3768. Short-term time frames (1-minute to 3...
USDCAD has turned bullish by breaking its previous lower highs and making new higher highs and higher lows. Possible bullish entry can be made on retracement of current bullish impulse move on the buy side. Let the trade work.
Hey Traders, in today's trading session we are monitoring USDCAD for a buying opportunity around 1.36900 zone, USDCAD was trading i na downtrend and successfully managed to break it out. Currently is in a correction phase in which it is approaching the retrace area at 1.36900 support and resistance zone. Trade safe, Joe.