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Canadiandollar

USDCAD Beautiful long-term pattern tells you what to do next.The USDCAD pair has been on a relentless bullish run since the week of July 10 after almost touching the 1W MA200 (orange trend-line) and making a bottom on the +2 year Higher Lows trend-line. This rise will now face the first selling pressure point, the Lower Highs trend-line of the October 10 2022 High. Following a 1W MACD Bullish Cross, if a 1W candle closes above this Lower Highs trend-line, we can see a hyper-aggressive rally towards the 1.46900 Resistance. In that case, we will buy the closing and target 146500. If however the candle gets rejected and closes instead below the Lower Highs trend-line, we will sell towards the Higher Lows trend-line again and target 1.32550. The pattern technically resembles the December 2018 - February 2020 sequence, which was also rising on Higher Lows, had a correction under Lower Highs and after hitting the 1W MA200 and breaking below the Higher Lows, it shot upwards to the 1.46900 Resistance. Basically the wider outlook (big picture) of USDCAD is very informative for long-term trend projections as it is quite symmetric, trading within a 1.46900 Resistance and 1.20180 Support since January 2016. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
by TradingShot
3
USDCAD Long idea.𝘐𝘯 𝘢 𝘸𝘦𝘦𝘬𝘭𝘺 𝘤𝘰𝘯𝘵𝘦𝘹𝘵, 𝘸𝘦 𝘤𝘢𝘯 𝘴𝘦𝘦 𝘵𝘩𝘢𝘵 𝘵𝘩𝘦 𝘱𝘳𝘪𝘤𝘦 𝘴𝘩𝘰𝘸𝘴 𝘪𝘯𝘥𝘦𝘤𝘪𝘴𝘪𝘰𝘯. 𝘐𝘯 𝘢 𝘋-4𝘏 𝘤𝘰𝘯𝘵𝘦𝘹𝘵, 𝘸𝘦 𝘤𝘢𝘯 𝘴𝘦𝘦 𝘵𝘩𝘢𝘵 𝘵𝘩𝘦 𝘱𝘳𝘪𝘤𝘦 𝘪𝘴 𝘩𝘦𝘢𝘥𝘪𝘯𝘨 𝘵𝘰𝘸𝘢𝘳𝘥𝘴 𝘵𝘩𝘦 𝘉𝘚𝘓 (𝘉𝘶𝘺𝘴𝘪𝘥𝘦 𝘓𝘪𝘲𝘶𝘪𝘥𝘪𝘵𝘺). 𝘖𝘯 𝘮𝘺 𝘤𝘩𝘢𝘳𝘵, 𝘵𝘩𝘦 𝘱𝘭𝘰𝘵𝘵𝘦𝘥 𝘥𝘦𝘮𝘢𝘯𝘥 𝘭𝘦𝘷𝘦𝘭 𝘤𝘰𝘳𝘳𝘦𝘴𝘱𝘰𝘯𝘥𝘴 𝘵𝘰 𝘢 𝘱𝘳𝘦𝘷𝘪𝘰𝘶𝘴𝘭𝘺 𝘳𝘦𝘣𝘢𝘭𝘢𝘯𝘤𝘦𝘥 𝘢𝘳𝘦𝘢 (𝘵𝘩𝘦 𝘱𝘳𝘪𝘤𝘦 𝘨𝘰𝘦𝘴 𝘶𝘱, 𝘥𝘰𝘸𝘯, 𝘢𝘯𝘥 𝘵𝘩𝘦𝘯 𝘶𝘱 𝘢𝘨𝘢𝘪𝘯), 𝘢𝘭𝘭 𝘰𝘧 𝘸𝘩𝘪𝘤𝘩 𝘰𝘤𝘤𝘶𝘳𝘴 𝘸𝘪𝘵𝘩𝘪𝘯 𝘢 𝘥𝘪𝘴𝘤𝘰𝘶𝘯𝘵 𝘻𝘰𝘯𝘦 𝘧𝘳𝘰𝘮 𝘍𝘳𝘪𝘥𝘢𝘺'𝘴 𝘵𝘳𝘢𝘥𝘪𝘯𝘨 𝘴𝘦𝘴𝘴𝘪𝘰𝘯.
Long
by ktrading2024
CADJPY Two scenarios but sell opportunity more closely.The CADJPY pair is trading within a 5-month Channel Up pattern, exactly on its 1D MA50 (blue trend-line). We notice the formation of a Triangle within it, similar to April's. If the 1D candle closes below its Higher Lows trend-line, then we will sell targeting 104.250 (Support 1). If the price breaks above the Lower Highs, we will buy and target long-term the 2.0 Fibonacci extension at 114.775. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
by TradingShot
AUDCAD Lower High rebound expected within the Channel UpThe AUDCAD pair followed our prediction on the last analysis we made a month ago (see chart below) and hit two targets on the way to the bottom of the long-term Channel Down: The price is now on the 2nd straight green 1D candle after a flat Friday, which was most likely the bottom reversal of the Channel Down. As the 1D RSI hit the bottom of its Rectangle pattern as well, we treat this as a strong buy opportunity on the medium-term, targeting not just the 1D MA50 (blue trend-line) but also the Internal Lower Highs trend-line. Our target is 0.89000, but will book the profit earlier if the 1D RSI approaches the top of its Rectangle before that price target. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Long
by TradingShot
1
EURCAD Secondary bullish wave ahead.The EURCAD pair is consolidating on the 1D time-frame above both the 1D MA50 (blue trend-line) and 1D MA200 (orange trend-line). This analysis is basically an update on July's pull-back buy idea (see chart below): The price is now entering the secondary bullish wave of this sequence, continuing to mirror the February - April fractal. However, we do have to lower our final target to 1.50190, which is the 1.236 Fibonacci extension, as the current sequence appears to be shorter than the one of February - April. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Long
by TradingShot
GBPCAD: Running out of steam, start of the reversal?In my opinion GBP is building up for a big fall this year, and it has to start with a lower high. Oil prices are rising, and as much as the FED don't want this, it's happening, and this should be good for CAD. I can see a rising wedge pattern, we can see spinning tops forming and it looks like we're running out of steam, I believe we'll initially fall back to the 1.7 support / round number. I'm waiting for my entry, I expected GBP to fall before now, but the BoC unemployment news wasn't supportive last week.
Short
by Finchcliffe
7