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CAD

GBP/CAD Trend following Price broke below the 50 week period moving average, signaling a change in trend. Trend line was broken with a high momentum Bearish candle. Price broke below 100 week period moving average, and retested this level as resistance. Currently consolidated in an area of support. If price can break below this level I will sell another position on this pair. After a break and close below the low of 2015, 200 week moving average, the support area and .618 Fib, this will signal a strong trend reversal and another trade will be taken.
Short
by Kevin_Lomax
USDCAD Where Does the Market Want to Go?Since the start of the new year USDCAD has sold off of the highs to spark a pretty intense downward move, especially on lower time frames. Many of you have probably followed this price action down as it has been dropping, and hopefully picking up some handsome profits. However we must not forget the long-term bullishness of this pair. For three years, since the spark of 2013 to the beginning of 2016 USDCAD has been extremely bullish consistently making new highs. Whilst a lot of the price action in this pair is related to fundamentals, especially with oil due the correlation between Canada's economy and oil, we cannot throw technicals out the window. From a technical standpoint... the 1.34500 level was the first major level that most of the street had hoped to be play out as resistance turned to support. While it did not hold as support and price action broke right through it to the downside, it continued its role as resistance. On lower time frames price action can be seen kissing off the 1.34500 level and reversing to the downside sharply making a fresh new low. However that new low stopped abruptly... and it got us thinking... why? Looking at this analysis now you can see that price action stopped so abruptly where it did because it had kissed off the yellow trend line. We are calling the yellow trend line the medium length trend line comparing it to the longer-term red trend line, but the yellow trend line is still extremely strong. For that reason we aren't comfortable taking any short positions on USDCAD until this yellow trend line is broken. If broken, we can expect to see this pair make its way down to the next area of what should become resistance turned support, 1.28100. If price action makes its way down to that level... and it holds as support we may enter into a ranging market between 1.34500-1.28100. Keep this analysis in mind when trading this pair guys... GOOD LUCK trading! Here at Unique4xPro we pride ourselves in being the World's first "Virtual Forex Trading Floor" where we will turn ANYONE that trades with us into a profitable for FREE! That's right... for FREE! All you need to do is to fund your own trading account. If you want to join our trading team check out www.Unique4xPro.com Also follow us on all of our social media: Twitter @ Unique4xPro Snapchat @ Unique4xPro Instagram @ Unique4xPro Tune in to our daily live market reviews @ 4:30 PM EST on Periscope @ Unique4xPro
by UnknownUnicorn261897
1
USD/CAD hit 23.6 Fibonacci retracement on weekly chart.Long term, the USDCAD looks bullish. the past few weeks has seen the commodity reliant pairing drop a fair amount due to the recovering oil prices. However, the price has hit the 23.6% fibonacci retracement, therefore we are waiting for some sign of a bullish continuation. The daily chart also shows the price touching the 200 EMA then having a strong bullish movement off it, which again suggest a bullish continuation is on the cards. See www.plusfxtrading.com for more analysis
Long
by PlusFX
AUD/CAD breaks double top at 0.9990, targets 1.0110AUD/CAD has broken strong trendline resistance at 0.9912 in Tuesday's trade and has closed above. The pair has also broken above next strong resistance at 0.9990 levels (double top 17th Dec and 28th Jan). Momentum studies are bullish, close above 0.9990 could take the pair to 1.0085 and then 1.0110. Supports on the downside are located at 0.9960 (Jan 20th lows), 0.9954 (Jan 18th lows) and then 0.9950 (Jan 13th lows). Breaks below 0.9910 will invalidate bullish bias.
Long
by FxWirePro
U.S Dollar/Canadian Dollar Daily AnalysisU.S Dollar/Canadian Dollar might very possibly be up for a price flip as T.D Combo completed its countdown in to a demand zone this week, which is lining up with the MIDAS support curve. Momentum have created a divergence to the upside as it remains flat in oversold territory, (while price is making lower lows) indicating that a change in price is about to occur. Further indications of a potential price flip is found in the correlation with oil, as the price of oil is approaching supply. Trading Plan: Wait for price to take out major high on the lower time frame before going long, this have to occur within the maximum range on reversal (displayed on the chart). If price exceeds that range and close below it, then the downtrend remains intact.
Long
by Carl_G
USDCAD mid to long term view - long?Dollar is already oversold against the Canadian on the MACD but RSI still shows some leeway which corresponds with the possibility of reaching 1.3450 - 1.3430 region in the coming days. After that I can see a bounce up back above 1.36 and in a later stage 1.40, 1.45 and even 1.50 (depending on how oil moves in the coming month(s)). So do note, that in the short term we can still see some downward pressure. The 1.3450 - 1.3430 area would also create the foundations for Fibonacci retracement lines. The technical view can also nicely fit with the fundamentals given last weeks OPEC frenzy. If those rumors fade into obscurity we could see renewed selling of the CAD.
Long
by UnknownUnicorn326052
1
NZD/CAD buy setup - target 0.9150NZD/CAD has re-entered the channel after brief dip below, has edged above 10-DMA in today's trade and 5-DMA has turned north. The pair failed to close below strong support at 0.8874 (double bottom, Oct 27th and Dec 4th 2015). Stochs are showing a clean rollover from oversold territory, and RSI strong and biased higher, at 46 and further room to run. Price action has re-entered the channel after brief dip below, has taken rising trendline support. Minor resistance is seen upto 0.9067, breaks above will see next resistance by cloud base at 0.9079. Good to Buy dips around 0.9030/40, SL: 0.8960, TP: 0.9070/0.9130/0.9150
Long
by FxWirePro