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CAD

EURCAD Long setupPotential EURCAD long setup: Opportunity: Price is finding support at the 800EMA, but might dip lower down to retest the previous support. Look for long opportunities on lower timeframes (4hr & 1hr). Entry: Look to enter long at a 50% retrace from most recent swing low to swing high (around 1,4280) OR wait for price to retest swing around 1.4080. This is the type of setup where scaling into your position would work well. Exit Stop: Below recent swing low or at 1,3980 Profit: If price moves north, expect to find resistance at the 200 EMA and previous trendline. This is a good place to set your stop to break-even if you entered long near the 800EMA. Aim to target Resistance Zone #2, as price retests previous swing high. Happy trading! --- fxcoach.tv
Long
by thekwest
AUD/CAD breaks below 200-DMA at 0.9692, good to sell ralliesAUD/CAD slump post dismal Australia's CPI data on Wednesday saw the pair break below strong 200-DMA support at 0.9692. Bearish bias in the pair has risen and momentum studies heavily tilted to the downside. Major moving averages are biased lower, RSI deeply in oversold zone and MACD points south. Downside finds next major support at 0.9434 (Nov 17th lows), breaks below will see next support at 0.9361 (Oct 16th lows). Resistance on the upside aligns at 0.9687 (5-DMA), 0.9692 (200-DMA) and 0.9750 (trendline support turned resistance). Good to sell rallies around 0.96 levels, SL: 0.9750, TP: 0.95/0.9450/0.94/0.9361
Short
by FxWirePro
Cadjpy Both Sides Trading OpportunityConditions 1 : (Chances Are High) If It Breaks Below Lower Trend line then go for take profits@ 86.500 Condition 2 : (Chances Are Less) If it breaks above trend line and has a candle close above upper trend line then buy for take profits@ $91 Major Reasons To Go Short: 1- Candle Closing Allows Trend To Change To Downside 2- Upper Divergence 3-Triangle Breakout 4-Triangle Breakout And Closed Candle Confirmation 5-Moving Average Shows Red Signs To Go Short 6-High Volume Due To Compression 7-Moving Averages Far Away Creates An Bearish Volume 8-Vertical Support Broke which indicates Sell Pressure 9-Major Banks Are Willing To Sell on candle close Below Lower Trend line
by 2Smart2Trade
4
USDCAD Potential Short SignalUSDCAD has been in a serious downtrend consistently making lower lows and lower highs and breaking short-term up trends with great bearish momentum. Knowing this we are looking at any short-term up trend as a corrective pullback that when broken will spark a continued move to the downside. This type of market will provide us with very high probable set ups if we are patient. We are awaiting a break below and close below this blue short-term up trend line with confluence from our price action algorithm predicting a move to the downside with a chance performance prediction rate of 85% or higher to take a short position on this pair. Currently our algorithm is predicting a reversal at the trend line for a continued move to the upside with a chance performance prediction rate of 70% as shown in the image below: i.imgur.com
Short
by UnknownUnicorn261897