Canada
ridethepig | USDCAD 2020 Macro MapThis chart is for those mapping USDCAD over the coming Quarters; a clean and simple strategy targeting the lows of 1.27xx by mid 2020 before finding somewhat of a bounce back towards the 1.30xx handle by year-end.
Main theme behind the flows is coming from dollar devaluation, I would recommend all to follow the Macro Dollar charts I have posted:
The reflation theme which is a bi-product of the dollar devaluation will allow CAD to outperform in the immediate term. There are two sides to the currency pairs, rather than CAD strength in this move we are trading USD weakness.
A wide range which is already starting to show signs of cracking the downside:
Best of luck all those trading USDCAD into year-end with dollar devaluation underway, this is going to be a monster swing with fireworks on both sides.
USDCAD SELL COMING SOONHello fellow traders, it is clear that price is approaching the upper band, I will wait for the market to pull up one more time and look for a sell setup around the boundary zone,I have also noticed on the cot report, that banks have been increasing longs from 50's(%) to 70"s(%) in the last four weeks yet price is still moving up, a big drop is just around the corner
Buy the rumors sell the news. Real life example AUSSI VS LOONIEAfter last week's elections, relatively strong domestic data and perceptions of stable (or even stimulating) fiscal policies were sufficient to keep the doves in the bay for BOC and I assume loonie was performing well throughout months because this thing was already known by smart players. Most of the position was well placed in the loonie side for months by smart traders and was a " buy the rumors " case for market (hoping for steady monetary policy from the bank and rumors around buying in optimistic of BOC) and now when the actual date central bank had announced which also ended up being steady, no cut, no dovish and as expected! but market just turned opposite for the pair or we can say any pairs which have loonie as counter or base acted just opposite against the loonie and ended up being " sell the news " (even knowing it was steady release, no cut, no dovish now everything has already been priced in, juice sucked up so profit-booking by closing of position creating back new fresh demand in another side and doesn't matter what was released and what only matter was to sell on news). Priced reached in such a level where everyone fears to hold longer and where smart people thought good place to book the profit which creating good demand and is indeed in a demand level where nothing can stop from rising upward rather than falling back deep. Aussie has been doing well lately along with the EURUSD and GBPUSD and has a high potential for trending upward talking about the longer time horizon (which we can evaluate from AUDUSD performance). Oil future seems not well too and if loonie is really done, for now, juice has been sucked up months before then a pullback of this downtrend is what not a surprising thing which we may see in future days.
"USDCAD on a Daily Timeframe" by ThinkingAntsOkDaily Chart Explanation:
- Price bounced on the Resistance Zone .
- It broke the Weekly Ascending Trendline .
- Now, the down move have already started. It has potential to move down towards the Middle Support Zone first and, then, towards the Support Zone .
- We are looking for sell setups on lower timeframes.
Weekly Vision:
4H Vision:
Updates coming soon!
NZDCAD SHORT The end of the short term uptrend is signaling a new short entry for me today. This is a continuation of the bear trend that was started on September 11th, 2019. I look to take this trade down to my first target at around 0.81745, then I will be updating this chart after that. I do not expect this to take longer than 1 month to reach the target, but anything is possible.
"NZDCAD: Top and Bottom Analysis" by ThinkingAntsOkDaily Chart Explanation:
- Price is on an important Support Zone .
- Bullish Divergence on MACD .
-If price starts its up move from here, it has potential to break the Descending Channel and, then, go towards the Middle Resistance Zone . If price also breaks it, there is potential to move up towards the Major Resistance Zone .
Weekly Vision:
"USDCAD" by ThinkingAntsOk4H Chart Explanation:
- Price broke the Ascending Trendline.
- Price was on a Bearish Corrective Structure that was broken after bouncing on the Resistance Zone.
- Price should continue its down move from here, with a main target on the Major Support Zone.
- We are looking for sell setups on lower timeframes.
Weekly Vision:
Daily Vision:
Updates coming soon!
Kinda smelling bear over here?!Brexit uncertainty spirals back after the Bojo sad defeat on his plan. October 31 will be extended for a small-time period seem so and PM Johnson can blame the opposition for mucking up the schedule . The EU is in no hurry. Is it 10 days or 3 months? Who knows. Break below the horizontal trendline of the descending triangle should only consider the future bearish movement in price.
"USDCAD: Top and Bottom Analysis" by ThinkingAntsOkDaily Chart Explanation:
- Price bounced on the Resistance Zone.
- It is near the Weekly Ascending Trendline.
- If price breaks it, the down move will be started. It has potential to move down towards the Middle Support Zone first and, then, towards the Support Zone.
- We are looking for sell setups on lower timeframes.
Weekly Vision:
Updates coming soon!
HEXO Potential TurnaroundHEXO may be going through a falling wedge pattern, which has the chance of reversing the trend to an upside. It's reached strong support from its long-term trend, and it looks bullish on the 3-day MACD after crossing back in September. Look for it to breakout above the resistance.
AUDCAD Short Term Trade (1:2.67 Risk to Reward)HELLO EVERYONE,
Coming to Analysis of AUDCAD :
--Price has rejected the demand zone clearly after the stops were taken, and also completed the retracement to 23.6% fib, expecting a ABC Move from here.
--Currently I am looking for a short term trade here, will post a new chart for Swing Trade Idea.
--Expecting to take entry at 0.89850 with a Risk to Reward ratio (1: 2.67).
--The Targets have been defined over Critical Demand/Supply zone to ensure accuracy over the targets.
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USDCAD LONG I am seeing a potential inverse head and shoulders pattern on the 4 hour timeframe for this pair. I will have to wait for the completion of the left shoulder for confirmation. So far the pair has been showing bullish signs and had a recent break of its down-trendline from September 19, 2019. Price has been holding highs within a range around 1.3200. Once we see a significant break out of this range, then it will add confirmation that is needed for the right shoulder. If 1.3400 highs are broken then I will take price up 200 pips to 1.3600. Anything can happen, especially with NFP coming this Friday so I am prepared to get out with a defensive strategy if need be and be prepared to take a short at the break of 1.3100 support.