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Canadiandollar

USDCAD Starting the new Bullish WaveUSDCAD is inside a Triangle pattern that started forming since the October 13th 2022 High. The latest hit on its bottom (leg 4) is what is pushing the price upwards today so aggressively. So far all legs have been symmetric with the 1st phase (1 through 4) inside the Triangle and leg 4 targeted previously the 0.786 Fibonacci. Trading Plan: 1. Buy on the current market price. Targets: 1. 1.37400 (the 0.786 Fibonacci). Tips: 1. RSI (1d) is under its MA line. A break over it, confirms the bullish sentiment. Please like, follow and comment!!
Long
by TradingBrokersView
12
USDCAD on a fall USDCAD since early this morning is on a consistent fall on the 15 minute chart. AMEX:USD Dollar strength issues have continued with the latest hike in prime interest rates trying to cool down inflation. Canadian dollar is buoyed by the rising spot price of gold and oil which are more prominent parts of the Canadian economy than they are in the USA> The chart shows a ride down the lower Bollinger Bands with no signs of reversal as of yet. As a leveraged forex trade heading into the market close I will open a good sized position scalping into 5-10 minutes before the close for the week,
Short
by AwesomeAvani
CADJPY: The 1D MA50 is crucialCSDJPY is on the rising Channel of its medium term Channel Up, rebounding on the 1D MA50. The 1D technicals are neutral (RSI = 53.031, MACD = 0.270, ADX = 28.072) and that always favors technically the dominant trend. So as long as the price is inside the rising Channel, our target will be the 1D MA200 (TP = 101.350). If a candle closes under the rising Channel and ideally the 1D MA50 as well, we will sell targeting the bottom of the Channel Up (TP = 96.000). The 1D RSI is on a HL trendline. Technically a low risk buy will be on that line. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
by InvestingScope
2
AUDCAD: Sell at the top of the Channel Down.The AUDCAD pair is on the 1D MA50 for the third successive day, which is also the top of the Channel Down pattern. The 1D technicals have turned neutral (RSI = 52.833, MACD = -0.001, ADX = 23.757), indicating that this is technically a firm sell entry. We will use this opportunity to short and target the S3 (TP = 0.88650) as all the Higher Lows of the uptrend have been filled by this Channel Down. On the contrary, if the price crosses over the R1, we will go long and target the R2 (TP = 0.92400). Prior idea: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Short
by InvestingScope
AUDCAD is growing again with the Double Bottom Pattern🚀By forming the Double Bottom pattern , we can confirm the end of wave C. I expect AUDCAD to grow to at least the resistance line after breaking the neckline of the Double Bottom pattern. (I have specified AUDCAD growth 🎯 targets 🎯 in the chart for you). 💡Also, I shared with you the position with RR= 2.68 , but be sure to follow your strategy and not forget capital management.💡 🔅Australian Dollar/Canadian Dollar Analyze ( AUDCAD ), Daily time frame ⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy, this is just my idea, and I will gladly see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Long
by pejman_zwin
14
EURCAD: Last buy round then sell to the 4H MA200.EURCAD is on a very consistent bullish pattern since February giving low risk buy signals on the HL trendline and sell signals on the HH trendline. This is well illustrated by the bullish technicals on the 1D time-frame (RSI = 63.779, MACD = 0.009, ADX = 34.173). The price is currently on the final bullish wave to the HH trendline, and we will stay long with TP = 1.51550. That is the 1.618 Fibonacci extension, which marked the previous Higher High (HH). Then we will sell targeting the 4H MA200 (TP = 1.4900). Prior idea: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope
CADJPY Rejected on the 1D MA200. Is this a trend change?The CADJPY pair got a rejected yesterday near the 1D MA200 (orange trend-line), which hasn't been touched since November 30 2022. Since the March 24 Low the price has been trading within a Channel Up but the long term pattern is a Megaphone and yesterday's rejection took place on its top (Higher Highs trend-line). With the 1D MACD about to make a Bearish Cross, this is a Triple Sell signal on the long-term. As long however as the 1D MA50 (blue trend-line) and the Channel Up hold, we can buy and target short-term the 1D MA200 at 101.500. If however we close a 1D candle below the Channel Down, the Sell Signal will be confirmed and we will target 95.200 (above the Support Zone) and 93.500 (Megaphone's bottom) in succession. P.S. It's been almost 4 months since we called for a bullish divergence on CADJPY: ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
by TradingShot
2
USD/CAD -3/5/2023-• Renewed US Dollar strength coupled with falling Oil prices due to fear of recession, are the main fundamentals behind the rally of USD/CAD • Technical picture remains bullish as long as above the slightly ascending trend line and horizontal support at 1.3530 • Long term symmetrical triangle is shrinking which means the breakout is coming soon and the projected target is a huge move ( height of the triangle is almost 2000 pips ) • Short term trading recommendation: Risk/reward favors a long position at current 1.36 level with stop at 1.35 and target 1.38 (descending trend line resistance) • No fresh trades are recommended before closely watching the outcome of the FED meeting on Wednesday Traders, if you like this idea please comment and like ✅ Here to answer all your questions, Good luck
by RamziAbouAbdallah-CMT
AUDCAD Testing the top of the Channel Down. Sell.The AUDCAD pair hit today the 1D MA50 (blue trend-line) for the first time in more than two months (since February 22). By doing so, it has approached both the Channel's top (Lower Highs trend-line) and Resistance 1 (0.912750) of the April 03 High. With the 1W RSI still far from its Support/ Buy Zone, we treat today's rise as a sell opportunity and short towards the Channel's bottom (Lower Lows trend-line), targeting 0.8870 (November 21 2022 Low). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Short
by TradingShot
1
EURCAD Halfway to its long-term buy zone.The EURCAD pair hit the first target we set on our late-March analysis: The pattern that emerges is a Channel Up and the next high probability buy entry is located exactly at its bottom on the 1D MA50 (blue trend-line). If the price breaks below the Channel Up, we may see a prolonged accumulation on the 0.618 Fibonacci level. As you see the Fibonacci levels have been targeted since the rise started last August and filled the gaps on all Lower Highs during the Bear market. The next gap to be filled is none other than the December 22 2021 High. Our long-term target in both scenarios is 1.57000. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
by TradingShot