ROYAL BANK OF CANADA in dayI think there is a bullback on the trend and the market will continue to rise
Canada
EURUSD|The probability of breaking the support zoneHello friends, I hope you are doing well, let's go to the popular currency pair EURUSD.
In EURUSD, the selling pressure seems to be more, we can understand this from the powerful candles, broken trends.
For this reason, short positions have a higher winning percentage.
By reaching the supply area (1.1015), we can enter a sell position with confirmation until the price (1.90).
In the future, if it can break the demand area, we expect the price of 1.080 to continue falling
LOOP INDUSTRIES / WYCKOFFThe great Wyckoff cycle is over, the new great cycle is near, interesting purchase in DCA for the long term. Canadian company in the recycling of plastic waste with a unique and revolutionary technology. Some scandalous articles in the press here and there, which given the share price seems to me to be a possible manipulation to keep the price low (personal opinion). Visible bullish divergence. Possible double bottom. Very interesting...
If Canada passes the UBI, the unemployment rate will increase Government unemployment benefits might be the reason why over the last 40 years, the unemployment rates in Portugal and Spain have been higher than Hong Kong.
Exploring the Impact of CBDC on Forex Trading in CanadaI am reaching out to discuss an intriguing topic that has been gaining significant attention in the financial realm: the potential impact of Central Bank Digital Currency (CBDC) on forex trading in Canada.
As you may be aware, the introduction of CBDC has sparked numerous discussions and debates among forex traders. The purpose of this idea is to delve into the concerns raised by these traders and shed light on how the implementation of CBDC could potentially affect their trading strategies, market liquidity, and overall dynamics of the forex market.
Forex traders have expressed several apprehensions regarding the introduction of CBDC. Firstly, they are concerned about the potential disruption to their trading strategies. Since CBDC would be a digital representation of the national currency, traders fear that its introduction could alter the existing forex market dynamics, making their current strategies less effective or even obsolete.
Moreover, market liquidity is another aspect that traders are closely monitoring. The introduction of CBDC could potentially impact the liquidity of the forex market, as it may attract a significant portion of trading volume towards this new digital currency. This shift in liquidity could have implications for traders who rely on the current market conditions and liquidity levels to execute their trades effectively.
Furthermore, the overall dynamics of the forex market might experience some changes with the introduction of CBDC. Traders are concerned about potential shifts in exchange rates, volatility, and the relationship between different currency pairs. These changes could create uncertainties and challenges for traders who have built their strategies based on the existing market dynamics.
In conclusion, the potential implications of CBDC on forex trading in Canada have raised valid concerns among traders. The impact on trading strategies, market liquidity, and overall forex market dynamics are critical factors that need to be carefully considered. Understanding these concerns and their potential consequences is crucial for traders and policymakers alike.
cointelegraph.com
Canadian Dollar - CAD - pairs(This post is to be a collection place/"container" for all CAD - Canadian Dollar - and related pairs.
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After weeks of consolidation near the bottom of a rising, long-term, weekly price trend channel, the USDCAD looks to be poised for a near-term, +500 pt topside breakout, toward visible targets around the 1.3650s level.
The well-formed, large bullish Wedge further suggests a potentially swift, upward price move.
The USDCAD Daily;
Best trade of the week? USDCAD or Oil? Will bearish bets on the Canadian dollar grow in the lead up to Wednesday? It is widely expected that the Canadian central bank will leave interest rates on hold during its meeting that concludes on this day (Although, it may be a hawkish hold as the Governor Tiff Macklem will mention that another hike is still on the table for the bank).
Perhaps piling on the bearish sentiment is the slight fall in the price of oil (one of Canada's major exports), as US diplomatic efforts continue to contain the conflict between Israel and Hamas. How long this quietish period can last is up for debate though, and a ground offensive by the IDF in Gaza could send oil prices higher.
Bullish takes on the USD/CAD (i.e., bearish bets on the Loonie) will have 1.37350 to content with, which is the high the pair reached before cratering to 1.36712 to start the week. 1.36936 is the more immediate resistance for bull to cross before even thinking about the day's high. The RSI’s weakness suggests this won’t be too difficult though, and 1.37189 might be the more formidable resistance.
$AC Long buy Alerts SetPatience pays off.
Looking to average down during a consolidating down trend.
This is not a quick play - looking long term. 12-18 months.
LONG AIRLINES ACDVF, AC, JETS, AAL, DALTSX:AC Technical and Fundamental Reasons for going Long AC Air Canada, and AAL and JETS and DAL:
We are in a tightening 3 Month range in all airline names (And even in broader markets)
Given how we have come straight down from the highs, a multi week bounce with legs is likely and positioning in here would be a strong Risk / Reward entry.
While DXY the dollar is set for monthly consolidation along with oil (Despite the knee jerk reaction to Israel which will likely fade. Markets are holding up well and have priced in peak rates with yields all coming down sharply after capitulating last week.
While DXY OIL and Yields drop.
Airlines are huge laggards (and after good selling and bad news being well priced in) it is time for major bounces. It is a highly volatile sector so a big drop the way it did warrants a big pop.
With capitulation following analyst downgrades, and company outlook drops to adjust estimates for rising fuel costs and labor costs. The discounts of this bad news is very well priced in and has capitulated with huge volume climaxes Monday after the Israel situation over the weekend.
As with 9/11 and Russia invasion, the knee jerk reaction last about a week, before the entire dip is re bought up. Assuming no escalation in Iran to push oil even higher, airlines will care most about earnings and forward guidance to see demand outlook for Q4 and 2024 company guidance.
With DAL reporting Thursday and more coming in next few weeks, I'd expect that the reported results for Q3 are very strong, and more importantly that Q4 and 2024 outlooks won't be as bad as markets are pricing. Resulting in a swift 10-15% bounce on many airline names.
Again: The bad news is very well priced in, and markets will begin to find good value for entrance pre earnings and post earnings as we are very oversold and surprised to the upside with earnings that weren't even close to as bad as markets are expecting as well as strong forward guidance.
NASDAQ:AAL
TSX:AC
AMEX:JETS
NYSE:DAL
CADCHF📊 #CADCHF
⏱ TIME: 1D
📝It is reaching very important areas for spot purchases, and you can make purchases in a gradual and managed manner.
📍The initial sell limit: 0.68070 $
📍The second sell limit:0.69260 $
❌These analyzes are just to give a better perspective for you dear ones
Do not base on buying and selling❌
CADHPY📊 #CADJPY
⏱ TIME:1month
📝It is reaching very important areas for spot purchases, and you can make purchases in a gradual and managed manner.
📍The initial sell limit: 114.969 $
📍The second sell limit: 129.700 $
⭕️type: Swing Trade
Royal Bank of Canada: Bearish Diamond AnticipationRoyal Bank of Canada has confirmed a Diamond Top pattern on the weekly, along with a breaking of the Moving Average. Upon breaking down, I think it will start a move down all the way to the 88.6% Retrace, likely near $46. Since the Diamond is a Neutral pattern and we have not gotten an official breakdown yet, I will still be on the lookout for a breakout in the other direction, but I'm primarily positioned bearishly in puts.
USOIL Potential UpsidesHey Traders, in today's trading session we are monitoring USOIL for a buying opportunity around 80.50 zone, USOIL was trading in a downtrend and successfully managed to break it out. currently is in a correction phase in which it is approaching the retrace area at 80.50 support and resistance zone.
Trade safe, Joe.
$USD/CAD - Big Monthly Range *M(tf)$USD/CAD seen on *Monthly time-frame
Price Action seems to have Broken Structure on *M.
However, price still on Strong Supports :
- *M mid-range S/R area
- Triangle Bottom Area of Support (broken for now)
- Support Trendline from Lows
More confirmations to come The Week ahead in terms of Price Action
for the BoS situation & wether supports will hold $USD/CAD or plunge it.
Td bank losing 1D support expect declineBased on cycling through daily l, 4 hour, 2 hour,1 hour and 15 min market cipher, rsi and macd td bank will bank down in price signaling a possible economic decline, expect to buy back in around august-december, great opportunity for dividend investors as this also applies to other Canadian and American legacy banks and other financial institutions as well as natural resource to consumer provider stocks like Enbridge and hydro
FINAL WEDGE PATTERN/CADCHFTECHNICAL : as we can see, CADCHF reach a new demand zone and bounce from that level . in my opinion CADCHF makes a final wedge structure !
FUNDAMENTAL : According to financial reports Bot , Unemployment Rate and Inflation Rate of CANADA are improving.
so wait for breakout and then open a long position .
USDCADUSDCAD at demand zone if can't break zone and can break resistance can rise to next resistance's 1.35816 - 1.36353 -1.36596
usd/cad -short
trend trade. price was over 70% sold. waiting to sell at 1.36424
trade was successful with 85 pips
MFC(MANULIFE FIN) Share , Canada NEOMFC(MANULIFE FIN) Share , Canada NEO Market is in good supply zone
but its better to wait for confirmation candle
Entry:26.90
SL:27.54
TP:19.64
RR: 1:11
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USDCADIn USD/CAD we have a supply that was broken this morning. The price hit my stop loss in the previous short trade. However, subsequently it created a demand that allowed me to enter a long position. Risk-reward ratio is 1:6.
Let me know what you think in the comments.
Have a nice Trading, Bye!
AUDCAD LongsI'm liking AUDCAD longs for a few reasons. Technical wise we have broken structure and we have a fib at the 61.8 from the swing high to swing low.. Looking at everything from a fundamental standpoint, there is a lot of optimism around the Aussie gaining strength from China reopenings, as well as a Hawkish RBA. Canada on the other hand has decided to pause rates and might continue to do so if the BoC see that inflation is starting to decelerate as well. This trade might take some time as most aussie pairs are slower but overall I like this trade.
#SCM(STEADRIGHT CRITICAL MINERALS INC.) Long#SCM(STEADRIGHT CRITICAL MINERALS INC.) is in demand zone
Entry:0.100
SL:0.080
TP1:0.285 (187%)
TP2:0.405(300%)
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