Get started

Canadian

Great Buy Opportunity In USDCAD! Disclaimer: this is an idea, trade off it at your own risk USD CAD has just made a false breakout and has made a strong move up and broke out of the 4H trend, it has also reached above the 200 EMA line. We should be waiting for the retracement as it approaches the 50% - 61% fib area and look for the perfect buy in that zone (140 - 260 PIPS in Profit) Then we could possibly look for another buy as it reaches closer to the range high. If it drops down to the reverse zone we should be looking for it to test the range low support area, and if it breaks out of the range low then we should look for sells as it will approach the February 2018 support area and then look for new structure, potentially a reverse.
Long
by YoungShaq
$USDCAD - Wait for the breakout from flagHi guys! 👋🏻 🔔 USDCAD continues the correction after a substantial growth on November 9. The pair is consolidating between $1.30900 and $1.30494. 🔔 On a 4-Hour chart USD/CAD has formed a bullish flag pattern, breakout from which will signal a bullish continuation. And the triangle on RSI is getting smaller and smaller, leaving little space for fluctiation and bullshit. 🔔 The bearishness of Dollar/Canadian is also endorsed by Moving averages, both simple moving averages of 100 and 200 and an Exponential MA 50 are above the current price. 🔔 The US Dollar is still bearish against the Canadina Dollar since March 2020, where there is one scary pattern I'm tracing since then on a monthly chart - double tops. 🔔 Fibonacci levels on a 4-Hour chart demonstrate the importance of the $1.30180 support level. Only when USD/CAD closes above $1.31000 it will proceed further towards $1.32000 and beyond. 🔔 Bullish continuation of the pair may be backed by the strong US data tomorrow. ✊🏻 Good luck with your trades! ✊🏻 If you like the idea hit the 👍🏻 button, follow me for more ideas.
Long
by azizelliott
1