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Canadiandollar

NZDCAD: Targeting the 1D MA200NZDCAD just turned bullish on the 1D technical outlook (RSI = 56.955, MACD = 0.000, ADX = 22.539) as it rebounded on the 1D MA50. The signs for this rally emerged after a Double Bottom Zone emerged, following a nearly 5 month RSI Bullish Divergence on HL, which indicates that we may be initiating a new long term bullish trend. Our focus for now is on the short term though as we go long, targeting the R1 level (TP = 0.82175) and a potential touch with the 1D MA200. That will be a new LH for the Bearish Megaphone pattern. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope
1
CADCHF: Six month Support Zone holding.CADCHF has held trading over the six month S1 Zone for the eight straight session. Obviously this turned the 4H timeframe (and below) neutral (RSI = 52.551, MACD = 0.000, ADX = 32.796), which makes for a solid bottom formation. On a wider look it appears that the original Channel Down transitioned into a Rectangle of a R1 and S1 Zone. The 1D MACD Bullish Cross will give the buy signal if formed and our target will by the LH trendline of the Channel Down (TP = 0.67850). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope
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.
by BlackBull_Markets
USDCAD Bullish targeting a Higher High.The USDCAD pair is trading within a Channel Up supported by the 1D MA50 (blue trend-line). The current bullish leg started after a 1D Golden Cross and is half-way towards pricing a new Higher High. We are already bullish on this pair but the recent rebound indicates that another buy can be added now. Our target is 1.39800 (Resistance 2), which makes a Higher High of nearly +4.58% similar to the previous one. ------------------------------------------------------------------------------- ** 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
1
AUDCAD: Time to Short 🇦🇺🇨🇦 Here is a classic example of a top-down confirmation setup: after a breakout of a key support on a daily, AUDCAD retested that. The price was steadily growing within a bearish flag formation. The text of structure triggered a strong bearish reaction and the price violated a support of the flag. It confirms the strength of the sellers and a highly probable bearish continuation. Goals: 0.859 / 0.8576 ❤️Please, support my work with like, thank you!❤️
Short
by VasilyTrader
10
GBPCAD - Bearish Double TOP 📉 Hello Traders ! On Friday 22 Sep, The GBPCAD Broke a Strong Support Level (1.65373-1.67148) This Key Level Becomes a New Resistance Level. The Price Created a New Correction in The Previous Week! Currently, The Price Formed a Double TOP Pattern. The Neckline is Broken. So, I Expect a Bearish Move ! i'm waiting for retest... ----------- TARGET: 1.63830🎯 ___________ if you agree with this IDEA, please leave a LIKE, SUBSCRIBE or COMMENT!
Short
by Hsan_BenAhmed
11