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CAD

EURCAD cleared trendline support (medium term)Canadian dollar pushed the Euro below the 1.4570 level and a key 12-month rising trendline. Follow-through will be driven by a lift from oil prices, Canadian unemployment data from last week should continue to provide momentum. Participation from Euro depends on Thursday CPI data and continued rally in equities. Placed a short at 1.4570 with a stop loss at 1.4719 Target is the 50% fib level at 1.4110, giving a target profit of 460 pips. Will look for retest of trendline support and support becoming new resistance
Short
by Carrero
1
AUDCAD holds above cloud base 0.9787, break below to target 0.97AUD/CAD has broken range trade and price action has slipped into the daily cloud, hit session lows at 0.9788. Downside in the pair has found support by cloud base at 0.9787, breaks below will test next support at 0.97 (rising trendline). Resistance on the upside is located at 0.9864 (5-DMA) ahead of 0.9884 (cloud top). Recovery in crude oil prices likely to support the Loonie, while the main data event for the Aussie, CPI and PPI from China marginally missed expectations. Momentum studies are bearish, 5-DMA bearish crossover on 10-DMA indicates near-term trend is lower. Good to sell rallies around 0.9810/20, SL: 0.9860, target 0.9710
Short
by FxWirePro
USDCAD Potential Short SignalWith USDCAD being in a severe downtrend since the beginning of 2016, as shown in the image below, we are only looking to take a short position on this pair. In order for us to execute a short position on this pair we will need to see price action break below this blue short-term up trend line that is acting as support. We will also see confluence from our proprietary price action forecasting algorithm that supports a move to the downside with a chance performance prediction of 85% or higher. If we do break-out to the downside we can expect to see it move with some strong momentum that we can enter in on. Currently our algorithm is forecasting some consolidation, then a sharp move up, followed by a quick reversal to the downside with a chance performance prediction of 88%, however we will continue to monitor price action and the forecast updates from the algorithm. Please see the image below for the current forecast on this pair. i.imgur.com ] If you want to receive accurate forex signals like this one check out www.Unique4xPro.com and get one FREE month of our algorithmic signals! Also follow us on all of our social media: Twitter @ Unique4xPro Snapchat @ Unique4xPro Instagram @ Unique4xPro
Short
by UnknownUnicorn261897
NZDCAD -- Short Setup [ D ] ORDER FOR NEXT WEEK!!Display: FX:NZDCAD Description: As shown above we have FX:NZDCAD . Currently this pair is ranging between 0.89500 – 0.87500, Going back to 4th March Price was still bearish but rallied up to 0.91100 which was a 0.786 retracement of the previous swing high. Followed by two larger sized Doji's and failure of closing, close to or above Monthly Resistance (0.91100) indicating bears had the overall power, resulting in a trend continuation. On the Daily we have a Spinning Top, This seems to be a result of price ranging but failing to close beyond Weekly Resistance. I am wary price could follow through to retest Weekly Resistance on a break of the Black TL.However i expect price will not close above the 20 EMA or Weekly Resistance, For these reason i will look to short the pair. Using these indicator/s: We can see the 200 crossing above price, The 10 acting as a pivot point and the 20 overall smoothing out the price action and holding price down magnetically. Also shown on the RSI price is currently in bearish territory, showing the overall momentum is likely to be bearish. Duration: Short Term Decision: I will short this pair because all factors coincide with the current trend. We have 0.89200 holding firmly as resistance Creating a good Demonstration of a Bearish setup. If price breaks black TL I will post an update. Trade Setup: Entry: 0.88300 TP 1: 0.87500 TP 2: 0.86600 SL: 0.89000 - 0.89200 Thank you for viewing my idea. If you decide to take this trade,please leave a comment and a thumbs up. I will be happy to stay in touch to see how the setup is planning out. Your also welcome to post you analysis below. Remember to always trade your stratergy... Happy Trading Useful Information: TREND: Bearish INDICATORS Moving average Relative Strength Index ATTACHED CHART : NO
Short
by MarlyForex
EURCAD Potential Short SignalEURCAD is looking very similar to EURUAD in the sense that it had been in a strong downward trend since the spark of 2016 and is now currently in what is potentially a corrective period. As seen here: With the overall trend being to the downside we are only looking to take a short position. while there is still significant downside potential from where current price action is to where the blue short-term supporting trend line is, there is still no real confirmation that the market intends to go lower until we break below and close below that blue short-term trend line. Therefore we are awaiting a break below and close below of said blue trend line with confluence from our price action forecasting algorithm prediction a move to the downside with a prediction chance of 85% or higher. Currently our algorithm is forecasting sideways movement, which could mean that the market wants to roll over soon, with a prediction chance of 64%. We will be updating this potential signal daily with current price action and updated forecasts from our algorithm. If we get the setup that we are looking for we will execute the trade and post an update, If you want to receive accurate forex signals like this one check out www.Unique4xPro.com and get one FREE month of our algorithmic signals! Also follow us on all of our social media: Twitter @ Unique4xPro Snapchat @ Unique4xPro Instagram @ Unique4xPro
Short
by UnknownUnicorn261897
GBPCAD potential BUY setupBearish trend has been continuing for a long time. Resistance level comes closer and closer to the support. One day and one week RSI close to oversold. Strong structural level at 1.81902 which has been in place for almost half a year. Follow of that bearish trend and if it doesn't break the existing trend and its resistance (red lines), then it's very likely that it will bounce up from the structure at 1.81902 with the market becoming extremely oversold.
Long
by DzhuneytYusein
2