USDCAD (2D): DT Analysis
General Observations
The USDCAD (2D) chart shows an overall Downtrend currently measured as “Moderate, 4.8% Confidence.”
SUPPORT & RESISTANCE 🔎
TREND ANALYSIS 📝
Indicator Context
The “Trend Score: -1.0” underscores a bearish tendency.
“Confirmed” signals (green/red) validate previous pivot breaks, aligning with downward momentum.
FUNDAMENTAL CONSIDERATIONS 🌐
RECOMMENDED ACTION PLAN 📋
🚀 Happy Trading!
The USDCAD (2D) chart shows an overall Downtrend currently measured as “Moderate, 4.8% Confidence.”
SUPPORT & RESISTANCE 🔎
- Resistance near 1.47–1.48 (Pivot High & Sell Stoploss region)
- Mid pivot area ~1.4107 that may act as interim support/resistance
- Support around 1.36–1.34 where prospective Buy Orders reside
TREND ANALYSIS 📝
- Pivot High & DT signals suggest selling pressure at upper zones
- Pivot Low & UT signals hint at potential bounces in lower zones
- Market bias currently leans bearish, given the “Downtrend” reading
Indicator Context
The “Trend Score: -1.0” underscores a bearish tendency.
“Confirmed” signals (green/red) validate previous pivot breaks, aligning with downward momentum.
FUNDAMENTAL CONSIDERATIONS 🌐
- Task: Monitor upcoming Canadian and US economic reports for volatility.
- Event: Pay attention to interest rate announcements or GDP releases.
- Vacation: Keep in mind lower liquidity periods can exaggerate price movements.
RECOMMENDED ACTION PLAN 📋
- Task: If price rallies toward 1.4326–1.4583, watch for short entries with stops above pivot highs.
- Event: Potential long entries near 1.3488–1.3634 if bullish signals confirm a correction.
- Vacation: Consider partial profits early if volatility spikes suddenly.
🚀 Happy Trading!
Professor C. E. Ward
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Professor C. E. Ward
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.