USDCAD: Top-Down Analysis & Bullish Outlook 🇺🇸🇨🇦
USDCAD reached a solid horizontal support this week.
The price formed a double bottom pattern on that on a 4h time frame,
bounced and violated a resistance line of a falling wedge pattern.
Probabilities will be high that the pair will bounce next week.
Goals: 1.355 / 1.358
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Canadiandollar
USDCAD Double Bottom buy signal.The USDCAD pair is making the initial rebound attempt after a Double Bottom on Support A (1.34875).
The 1day RSI made a Lower Low on the Channel Down bottom, which is an additional buy indicator.
Buy and target 1.36100, which is a little under the 0.618 Fibonacci level.
Previous chart:
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NZDCAD - BEARISH HEAD AND SHOULDERS📉Hello Traders!
On The Daily Time Frame, The NZDCAD Price Formed a Head and Shoulders Pattern!
The Neckline is Broken.
So, I Expect a Bearish Move📉.
i'm waiting for retest...
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TARGET: 0.79080🎯
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CADCHF - BULLISH FALLING WEDGE 📈Hello Traders!
On 17 Aug, The CADCHF Reached a Support Level !
Te Price Formed a Falling Wedge Pattern !
The Resistance Line of The Wedge is Broken.
The Resistance Level (0.65750-0.65825) is Broken.
So, I Expect a Bullish Move📈
i'm waiting for retest...
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TARGET 1: 0.65750🎯
TARGET 2: 0.66000🎯
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EURCAD - Bearish Triple TOP📉Hello Traders!
On The Daily Time Frame, The EURCAD Price Formed a Triple Top Pattern.
The Neckline is Broken🔥
The Support Line Is Broken🔥
So, I Expect a Bearish Move📉
i'm waiting for retest...
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TARGET: 1.45180🎯
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Wont' take much longerPrice has been consolidation for 10 weeks. It has to break up eventually. Just wait patiently. Next important resistance after break is at 116 level. There is some room to go higher. We may have a rejection at the 110 level, I will use it to add to my long position. It may take a couple weeks more but the risk reward is worth the waiting.
EURCAD: Important Breakout 🇪🇺🇨🇦
EURCAD broke and closed below a support of a horizontal range
and a rising trend line.
The violation of both horizontal and vertical key structures is an important sign
of strength of the sellers.
The prices may go much lower now.
Next support - 1.4505
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USDCAD - NEW BREAKOUT !Hello Traders!
The USDCAD Broke a Strong Daily Resistance Level (1.36023-1.36681)
Currently, This Resistance Level Becomes New Support Level.
So, I Expect a Bullish Move📈
i'm waiting for retest...
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TARGET: 1.37350🎯
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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.
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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.
Just hit a wallPair just hit an important supply zone. It may test it again. I just opened a small short position, if it tests it again I'll add otherwise I leave my small position bc risk and reward is not that great on this trade but on the other hand that's a very tough area to break up when is clearly overbought.
EURCAD: Your Trading Plan 🇪🇺🇨🇦
EURCAD is trading within a wide horizontal trading range on a daily.
The price tested its upper boundary yesterday.
We see a strong bearish reaction to that.
Pay attention to the support of the range - the underlined green area.
If bears manage to close below that, it will be a strong bearish signal.
A bearish continuation will be expected to 1.4512 then.
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AUDCAD - New Bullish Move 📈Hello Traders!
On The Daily Time Frame, The AUDCAD Reached a Strong support Level !
Currently, On 4H, The Price Formed a Falling Wedge Pattern !
The Resistance Line of Wedge is Broken🔥
So, I Expect a Bullish Move📈
i'm waiting for a retest...
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TARGET: 0.87850🎯
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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.
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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.
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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.
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NZDCAD - BEARISH MOVE 📉📉Hello Traders!
On The Daily Time Time Frame The NZDCAD Reached A Resistance Line
Currently, The Price Broke The Support Level (0.80728-0.80296)
So, I Expect a Bearish Move📉
i'm waiting for a retest...
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TARGET: 0.79150🎯
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CADCHF: One More Bullish Confirmation 🇨🇦🇨🇭
As I predicted, CADCHF bounced from a key daily structure support last week.
Analysing 4H time frame, I spotted one more bullish signal.
This time, the pair broke and closed above a resistance line of a falling wedge pattern.
It indicates that the market may potentially go even higher.
Next goals - 0.6524 / 0.6544
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USDCAD - NEW BREAKOUT !Hello Traders!
On The Daily Time Frame, The USDCAD Reached a Strong Support Level !
Currently, The Price Failed to Create new Lower Low 📉
Moreover, The Resistance Line is Broken🔥
So, I Expect a Bullish Move📈
i'm waiting for a retest...
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TARGET: 1.35340🎯
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CADJPY - Resistance Becomes Support Hi Traders!
On The Daily Time Frame The CADJPY Reached a Strong Support Level!
Currently, The Price Formed a Double Bottom Pattern.
The Neckline is Broken🔥
So, I Expect a Bullish Move📈
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TARGET: 108.580🎯
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