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Buy GBPCAD Triangle PatternFactors Strengthening GBP: Hawkish BoE: Recent hawkish comments from Bank of England (BoE) officials regarding potential interest rate hikes to combat inflation have bolstered the Pound. This has increased its attractiveness compared to the Canadian Dollar. Optimism on UK economy: Despite ongoing Brexit negotiations, positive economic data releases like higher-than-expected GDP growth and retail sales figures paint a picture of a resilient UK economy. This fuels investor confidence in the Pound. Price breaks the Pattern now, its good chance to buy now. Thank you.
Long
by KABHI_TA_TRADING
2
USDCAD Breakout and potential retrace with today's CPI.In today's trading session, our focus turns to USDCAD as we anticipate a buying opportunity around the 1.33700 zone. Having recently broken out of its downtrend, the pair is now navigating a correction phase, approaching the critical retrace area at the 1.33700 support and resistance zone. Adding a fundamental perspective to the technical analysis, it's important to note the recent US December core CPI data, which revealed a 3.9% year-on-year increase, surpassing the expected 3.8%. This potential strength in the US dollar could contribute to a reversal scenario for USDCAD, and traders should closely monitor the unfolding dynamics in this session. As always, trade safe. Joe
Long
by JoeChampion
USDCAD in Focus: Navigating Dollar Weakness and Upcoming CPIHey Traders, as we dive into today's trading session, our focus is keenly set on USDCAD, where we are eyeing a potential selling opportunity around the 1.34100 zone. The currency pair has been following a clear downtrend and is currently undergoing a correction phase, gradually approaching the trend at the crucial 1.34100 support and resistance area. Adding depth to our analysis, recent economic data has revealed weak figures for the US ISM (Institute for Supply Management), falling below market expectations. This unexpected downturn in the ISM figures suggests potential weakness in the US dollar, influencing our cautious approach in the current trading environment. Looking ahead to the week, anticipation builds as the Consumer Price Index (CPI) for the US is scheduled for release on Thursday. If the CPI data comes in softer than expected on January 11th, it could exert additional pressure on the Federal Reserve to consider rate cuts in the upcoming March meeting. This fundamental context enhances our attention to the USDCAD pair, and we'll be closely monitoring how these factors unfold in the market dynamics throughout the week. Trade safe!
Short
by JoeChampion
Buy USDCAD Triangle Breakout1. US Treasury yields climb, boost dollar: Rising US Treasury yields are providing some support for the dollar, putting mild upward pressure on the USD/CAD pair. 2. US employment data beats expectations: Positive US employment data released yesterday initially strengthened the US dollar, putting upward pressure on USD/CAD. However, concerns about rising US Treasury yields are now weighing on the dollar. 3. US/Canada employment data eyed: Both US and Canadian employment reports are due later today. Strong data from either side could significantly impact the pair's direction. Its good time to buy now, thank you
Long
by KABHI_TA_TRADING
2
AUDCAD Analysis: Riding the Waves of Uptrend and CorrectionGreetings Traders, In today's trading session, our focus is directed towards AUDCAD, where we are actively monitoring a potential buying opportunity around the 0.89000 zone. AUDCAD is currently entrenched in an uptrend, and the ongoing correction phase is bringing the currency pair closer to the critical 0.89000 support and resistance area. As AUDCAD traverses its uptrend, traders are keenly observing the evolving correction phase, evaluating the potential for a strategic entry around the 0.89000 level. The support and resistance area serves as a pivotal juncture, presenting an opportune moment for traders to consider a buying position. Ensuring prudent risk management and staying attuned to market dynamics will be essential in navigating this phase of the AUDCAD trend. Trade safe, Joe.
Long
by JoeChampion
NZDCAD Potential UpsidesGreetings Traders, In tomorrow's trading session, our focus is on NZDCAD as we actively monitor a potential buying opportunity around the 0.83400 zone. Riding an uptrend, NZDCAD showcases a sustained upward trajectory, indicating favorable market dynamics. Simultaneously, the currency pair is navigating a correction phase, gradually converging towards the trend at the critical 0.83400 support zone. This numerical level holds significance as a historical support point, presenting an opportune moment for traders to assess potential entry points aligned with the prevailing uptrend. As traders prepare for tomorrow's session, strategic considerations should involve a meticulous evaluation of optimal entry points within the identified 0.83400 support zone. Aligning trading decisions with the ongoing uptrend and the potential market dynamics at this critical support zone is essential. The convergence of the correction phase with historical support further enhances the appeal of NZDCAD as a buying opportunity.
Long
by JoeChampion
Strategic Moves: AUDCAD Uptrend AnalysisGreetings Traders, In today's trading session, our focus is on AUDCAD as we actively monitor a potential buying opportunity around the 0.89600 zone. Operating within an uptrend, AUDCAD exhibits a sustained upward trajectory. Simultaneously, the currency pair is undergoing a correction phase, gradually converging towards the trend at the critical 0.89600 support and resistance area. This numerical level holds significance as both a historical support point and a pivotal juncture where the correction may intersect with substantial market forces. Our strategic approach for today involves a meticulous assessment of optimal entry points within the identified 0.89600 zone, aligning our trading decisions with the ongoing uptrend and the potential market dynamics at the crucial support and resistance area. As always, it's crucial to trade with caution and adhere to risk management strategies. Trade safe, Joe.
Long
by JoeChampion
USDCAD Approaching Significant ZoneUSDCAD has been Ranging in higher timeframes. On lower timeframes, a Bear market predominates. Price approaching Significant Zone: 1.30900 - 1.31775 Although zone was used previously as support, momentum indicates probable continuation passed this zone onto lower prices - unless proven otherwise by future price movements. Opinion is currently Neutral (no entry yet) with a Bearish bias . Looking for appropriate market structure at Zone for entry (shorts). Aggressively add to position if in profit, with appropriate risk managing and trading psychology. Avoid adding to position if negative.
by virtual_an0maly
CADJPY Confirmed buy signalThe CADJPY pair has been trading within a Fibonacci Channel Up since the March 2020 market bottom. The recent rejection on the 1.5 Fibonacci level back to the 0.5 show it test and hold an important Support, the 1W MA50 (blue trend-line), which has only broken once in 3 years (since November 2020) and that was during last year's inflation crisis. As long as it holds, it is a strong buy opportunity and evidence for that is the 1W RSI which has printed the same pattern (Channel Down break into a rebound) as the September 26 2022 and August 16 2021 lows. Both initiated rebounds that hit their prior Resistance levels. As a result, we are taking this opportunity to buy and target the previous Resistance (from the September 25 High) at 111.000. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Long
by TradingShot
AUDCAD Buy signal on 1D Golden Cross.The AUDCAD pair is trading within a Channel Up pattern that has currently been rejected twice on Resistance 1 (0.905500). With the 1D MA50 (blue trend-line) crossing today (or tomorrow the latest) above the 1D MA200 (orange trend-line) to complete a 1D Golden Cross, and the 1D MACD forming now a Bullish Cross, we have a strong case for a break-out above Resistance 1 this time. Once this takes place, we will buy and target 0.9200 as the new Higher High of the Channel Up. It will be a +3.76% rise from the recent Higher Low, which is roughly the % rise of the previous 2 bullish legs. Bonus material (past AUDCAD trade): ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Long
by TradingShot
USDCAD Bullish signal emerged inside a 15 month Rectangle.USDCAD has hit the 0.236 Fibonacci level of the 15 month Rectangle pattern after a continuous decline since the November 1st High. This level has been a technical buy entry on 5 occassions. Trading Plan: 1. Buy on the current market price. Targets: 1. 1.36350 (0.618 Fibonacci level). Tips: 1. The RSI (1d) has printed a Falling Support, which has been a bottom formation on April 13th and June 22nd. Please like, follow and comment!!
Long
by TradingBrokersView
USDCAD Potential DownsidesIn today's trading session, our primary focus is on USDCAD, where we are actively monitoring a potential selling opportunity around the 1.33900 zone. Currently entrenched in a downtrend, USDCAD demonstrates a sustained downward trajectory. Simultaneously, the currency pair is navigating a correction phase, steadily converging towards the trend at the pivotal 1.33900 support and resistance area. This numerical level holds significance as both a historical support point and a crucial juncture where the correction may intersect with substantial market forces. Our strategic approach for today involves a meticulous assessment of optimal entry points within the identified 1.33900 zone. Aligning our trading decisions with the ongoing downtrend and the potential market dynamics at the critical support and resistance area is crucial. Navigating the correction phase with precision is key as we aim to capitalize on the identified selling opportunity within the broader context of USDCAD's current trend.
Short
by JoeChampion
EURCAD Sell signal on a confirmed break-out.The EURCAD pair broke below the 1D MA200 (orange trend-line) again after getting rejected on the 1D MA50 (blue trend-line), which establishes it as a Resistance. The long-term pattern is a Channel Down (blue) since the February 10 Low and the current (dotted) Channel Down is the Bearish Leg towards a new Lower Low. We are taking this bearish break-out signal for the 2nd phase of the Leg and will target Support 1 at 1.43300. The downtrend can extend as low as 1.42180 and -5.50% from the High (as on the June 08 Low) but best settle for an established Support. If the 1D MACD completes a Bullish Cross before the 1.43300 target is achieved, we will close the short regardless, as all MACD Bullish Crosses below the 0.00 mark in 2023 have initiated very strong rallies. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Short
by TradingShot
In the realm of AUD/CAD intraday analysisGreetings fellow traders, The upcoming trajectory is set to follow the purple path based on the mid-term analysis. For intraday considerations, two potential setups emerge: A prospect at the bottom of the channel, though I advise caution. I am willing to take a quarter of the usual risk for this setup. Alternatively, the purple zone nested within the yellow zone could present a favorable opportunity for long trades. Best of luck in your trading endeavors! Take a look to mid-term analysis!
Long
by AliSignals