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CAD

EUR/CAD slips below 1.55 handle, good to sell ralliesEUR/CAD upside run seems to have stalled at 1.5914 highs on Thursday, 11th Feb, pair slips below 1.55 handle. Price action on the day has been rejected at highs by 1.5590 and the pair has edged lower, broken below 10-DMA at 1.5537. The following technical factors support our view for downside correction in the pair: - Formation of an inverted hammer at highs - Bearish stochastics crossover from overbought territory - RSI turns lower from 62 levels, points south Immediate support is seen at 1.5429 (Feb 8th lows), while resistance is located at 1.5644 (5-DMA) Good to sell rallies around 1.55, SL: 1.5650 TP:1.5240/1.52
Short
by FxWirePro
Sell USDCAD for 1.35300 AreaThe USD has been selling off quite a bit and at the make or break for a new trend. The DXY is in a free fall currently pointing to further downside. The CAD on the other side is still bullish at the moment, oil also held the key $28 level today, which is quite important. As far as the USDCAD technicals we are testing the key level of 1.40, where a trendline is present, and the 8/21 emas. This is a great sell opportunity of 3:1 targeting the 1.352 area where I expect to hold because of the .618 fib level and trend line. I'm not a huge fan of trading the USDCAD because it's tricky, but I like my odds here.
Short
by adriel.arrasmith
TRADE OF THE DAY 16-02-2016AFTER THE PRICE FINISHED THE LAST DAY WITH A BEARISH CLOSE, I FOUND ATTRACTIVE TO SELL THE CAD INSIDE THIS BEARISH CHANNEL ,WHEN THE PRICE HIT THE TOP OF THE CHANNEL FOR THE THIRD TIME I DECIDED TO SELL, THE PRICE WENT LOW AS EXPECTED BUT AFTER REACHING THE 0.50 FIB LEVEL OF THE SHORTER UP MOVE, I MOVED MY STOPS TO B.E. AND THEY WERE HIT AFTER THE PRICE WET UP ON THE US OPENING. COMMISIONS:($-1.80-$1.80)=$-3.60 PROFIT/LOSS:($6.09) =$6.09 RESULTS: =$2.49 GOD BLESS YOU ALL.
Short
by tommyjose92
USDCAD TTTIt's not over yet for the UC bulls. Fundamentally , market conditions have not changed too much despite the sell off in USD the last few weeks. Yes, data was disappointing, but in terms of U vs. C, these two items still remain: 1. Oil has yet to find a defined bottom. 2. Divergent policies banking between the USA and Canada. Though, I do believe we maybe reaching the tail end of this uptrend, there is nothing fundamentally significant so suggest that we will not see the peaks again nor surpass it. Technically speaking, moderate E. wave count suggests we are finishing wave 4 of a 5 wave impulsive. I was not sure how far we would fall in wave 4, but we have the following: 1. Ichimoku rejection 2. Fibo .382 rejection 3. Spinning top, RSI suggest majority of selling is complete Certainly, we may drop further, but I believe the price will maintain its long course through this pitchfork. Should the fork break convincingly, that will be the strong bear confirm. The ride back up will hopefully surpass peak 3. I do not believe it will hold at that price level for long, at which point begin looking for shorts.
Long
by Nantucket
Short On USD/CAD SELL SELL SELL !!!Reasons For -We are now down trending on the 4 hour chart -We always want to trade in the direction of the trend -We are making lower lows and lower highs -We are trading below key level at 1.4000 Which we broke with a strong downside move -If we put a Fib in from previous Lower high to the new Lower low price is reacting to the 0.618 Level -Sign of retrace Over ? -We have put in two dojis in on the 4 hour time frame -We have also come to our trend line that is acting as Res and also showing signs of bullish weakness So if we put all those together on the 4 Hour time frame we are extremely bearish If we look at the daily -We are also making new lows and currently in a new forming down trend The trend is your friend -The biggest confluence for me is we have broken the previous higher low on the daily when the uptrend was in affect we have come lower then the previous higher low Which also signifies a change of trend and direction -So after all the bullishness over the past couple years isit over ? well for now we are in full affect to make a new lower low in this current trend which is at 1.3500 Heads up Remember guys this pair is heavily influenced by Oil so it is a more risky pair to trade but in terms of technicals it is a great setup :) Also my entry is very aggressive id recommend waiting for a strong bearish candle on the 4 Hour time frame to confirm more confluence and be a strong selling setup as it confirms our momentum which is bearish So id Recommend waiting but if your a risk taker like me join me lol ;) Only 65 pips Risk well worth the risk with a great Risk Reward of 1:6 :) Trade safe My entry 1.38897
Short
by ARFXC
38