eurcad - correctiveStill tracking this bastard, which I think is putting in a bunch of threes. I'm looking for another swing higher from the 1.4400 area, still aiming above 1.48x.
CAD
AUD/CAD meduim-term target: 1.0350AUD/CAD has ended its consolidation phase and has resumed uptrend.
The pair has bounced off 38.2% Fib at 0.9723, broken stiff resistance at 0.9979 and is extending upside.
For a medium-term outlook, trend is bullish. We see scope for test of 1.0350 levels.
Weakness only below 23.6% Fib at 0.9817. Violation there could see drag till 0.9650 and then 0.9490 levels.
Medium-term: Buy on dips, SL: 0.9817, TP: 1.0170/ 1.0235/ 1.0350
AUDCAD Pullback to range can make a good entryAUDCAD Broke out of the July range. Pullback to retest levels would make a great entry to re-enter trend.
Buy Signal Soon Within CADUSDThis is a fantastic way to play the upcoming CAD strength from oil against the weakening USD.
We have a massive descending wedge forming a somewhat sloppy right shoulder within a bigger inverse H&S formation on the monthly/weekly timeframe.
Should see continued dollar strength into the week bringing us down to the bottom of the wedge to form what should be the the last low on this pair until late 2017 going into 2018.
We have a monthly bullish reversal at the Monthly .8280 high close from april 2015 and a quarterly bullish reversal at .8605. A close above both should send us quite a bit higher
USDCAD Ascending Triangle - Buy Set UpPoor employment data out of Canada and weak oil are helping to firm the dollar.
The pair is now approaching a critical point in the triangle formation. We expect a break upwards towards a key reversal point at 61.80% (1.38403).
Potential entry at 1.31411.
USD/CAD - Critical Zone.Its going to be a very, very interesting week for the USD/CAD. The pair has not seen 1.31808 since March 30th. It was tested in late July but rejected, and also tested on Friday, but soon rejected. The pair has been in an upward channel since early June, for the channel to continue, 1.31808 will have to be broken.
GBP/CAD: Almost 1:5 Risk to Reward RatioLooking at GBP/CAD on the daily time frame price have made its first bearish leg, pullback is now for selling as I am looking to trade the second leg down. On the 4 hour chart MIDAS R1 (launched from 2016-08-03 12:00) have successfully captured the pullback together with a TD-Price Flip on the 1 hour chart. This potential trade setup have a great Risk to Reward Ratio of almost 1:5 giving this the top spot on the watch list for next week.
MIDAS Trading Tools for MT4 is available to download @ MQL5.com
Long NZD/CAD for 0.9430NZD/CAD price action on the hourly charts has broken above 50 SMA at 0.9370.
Kiwi remains buoyed after dovish RBA SoMP. We see scope for upside upto 0.94.
Violation there could see next hurdle at 0.9430 and then 0.9494 levels.
20-DMA at 0.9316 is strong support on the downside, break below could test 0.9187 (50-DMA).
Good to go long on dips SL: 0.9330, TP: 0.94/ 0.9430
SHORT AUDCADWe are short as the hourly chart is trading below the ascending support line, now acting as a resistance line. Also we are on a historic key level of resistance. Also confluence with daily descending trend line.
nzd cadlittle late due to the fact that price already penetrated the zone but still nice short set up ...
letz see what we can get here
USDCAD Buying OpportunitySince Brexit USDCAD is seeing pressure to the upside. While it may be choppy with relatively violent swings, the underlying trend is to the upside. Buying down swings has been preferred with the bulls remaining consistently in control. Recently we have just seen a decent pullback on this pair and formed a bottom with a significant double bottom formation. The buying pressure that has stepped in since the formation of the double bottom has held which is usually a sign that price intends to go higher. IF price can break out of the short term down trend and close above it one may want to consider going long USDCAD with a stop loss below of the low of the double bottom. GOOD LUCK!
8/02/16 - USD/CAD - LONG OR SHORT? - "INTRADAY SETUP"Buy the breakout might seem like a good idea
Expecting greenback strength across all currency pairs
However the USD/CAD more often than not has a mind of its own.
H4 Double BottomBeautiful Double Bottom after the sell off. Take your opportunity on the neckline break
usd cad after price formed a "dirty"tripple top it was able to break the upward trendline ..a nice short trade ;-)
the idea is to short this pair again at the "zone" ..also 61% retracement of the last downward move and ressistance from the falling new trendline..
