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Canadiandollar

USDCAD: Strong buy opportunity near the SupportThe USDCAD pair crossed under the 1D MA200 last week and is approaching S1 on a very bearish 1D technical outlook (RSI = 38.120, MACD = -0.005, ADX = 45.239). The two day bounce on the HL trendline and the fact that the 1D RSI hit the bottom of its Channel, constitute a short term buy opportunity targeting the 1D MA50 (TP = 1.35450). If a candle closes above the 1D MA50, we will buy again the breakout and target the LH trendline (TP = 1.37545). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope
USDCAD Turning into a buy.The USDCAD pair hit last week the Higher Lows trend-line from the June 08 2022 Low and rebounded but yesterday the mini rise stopped on the 1D MA50 (blue trend-line). A 1D candle closing above the 1D MA50 will be a buy signal, targeting 1.38500 (below Resistance 1). If instead it closes below the 1D MA200 (orange trend-line) and naturally the June 2022 trend-line, wait for a lower price to buy, closer to Support 1. The strongest buy signal would be a 1D MACD Bullish Cross. In more than a year, it hasn't failed to deliver a Higher High. ------------------------------------------------------------------------------- ** 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
2
CADJPY: Mixed patterns. Trade these levels only.CADJPY is trading inside a Channel Down pattern with the 1D technicals neutral (RSI = 51.739, MACD = -0.070, ADX = 39.994). Right noe the price is on the 1D MA50 and is bearish within the Channel Down targeting for its bottom (TP = 94.250). In spite of that, with a 1D RSI on HL and last time the price was on the 1D MA50 from a leg up, extending to the top of the Channel Down, we might see the emergence of a Channel Up targeting the 1D MA200. As a result, if we see a break over today's High, we will buy and target firstly Fibonacci 0.382 (TP = 100.400) and secondly Fibonacci 0.5 and the 1D MA200 (TP = 102.000). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
by InvestingScope
AUDCAD: Selling is the best option on this Channel Down.AUDCAD is trading inside a Channel Down pattern with the 1D technicals bearish (RSI = 43.171, MACD = -0.004, ADX = 38.042). Even though the long term pattern is bearish, the rebound yesterday and closing over the 1D MA200 can be a bullish signal along with the HL that the RSI is on (bullish divergence). However until the 1D MA50 breaks, we cannot call for any upward movement on the long term. We remain sellers on this pair, targeting S2 (TP = 0.89500). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Short
by InvestingScope
1
USD CAD - FUNDAMENTAL DRIVERSThe Canadian dollar remains relatively weak against the greenback, as it continues to hover near its cyclical high. While many investors fear a tightening of global credit conditions, some believe that Canadian bank could face a very difficult environment due to their exposure to residential real estate in a much higher interest rate environment. Combined with weakening commodity prices, the short-term outlook does not support a stronger loonie. Yet Canadian banks continue to outperform their global counterparts due to a more rigid regulatory environment and strong population growth, both of which argue against a dramatic erosion of their deposit base. USD/CAD should remain in the 1.36/1.39 range in the first half of 2023, before making a comeback in the second half of the year when more central banks finally end their tightening cycle.
by thunderpips
USD CAD - FUNDAMENTAL DRIVERSThe Canadian dollar remains relatively weak against the greenback, as it continues to hover near its cyclical high. While many investors fear a tightening of global credit conditions, some believe that Canadian bank could face a very difficult environment due to their exposure to residential real estate in a much higher interest rate environment. Combined with weakening commodity prices, the short-term outlook does not support a stronger loonie. Yet Canadian banks continue to outperform their global counterparts due to a more rigid regulatory environment and strong population growth, both of which argue against a dramatic erosion of their deposit base. USD/CAD should remain in the 1.36/1.39 range in the first half of 2023, before making a comeback in the second half of the year when more central banks finally end their tightening cycle.
by thunderpips
AUDCADGood Night :) AUDCAD has been examined in different dimensions: 1- Strong supply and demand levels that I identify with my own indicator and system. 2- The structure of recently formed waves 3- Current market momentum 4- The structure of classical and price patterns In this idea, I identified the direction of the market in different ways and in the second step, I analyzed the potential of continuation or reversal. Usually, paying attention to the trend and strength of the trend can greatly increase the accuracy of the analysis. In general, I tried to describe the continuation of the movement in the simplest possible way in the diagram. ⚠️ Disclaimer: This is a personal opinion and you are responsible for any trading decisions.
Long
by HamidRamezani1992
USDCAD: Strong Buying ZoneThe USDCAD has successfully broken out of a triangle pattern and also breached a local resistance line at 1.375, but it faced strong rejection after the break. It seems that the price will undergo a correction towards the last support level at 1.375 or even down to 1.370, which I consider a strong and ideal buying zone for the price to continue its upward move towards 1.385. ------------------------------------------------------------------------- Let me know your thoughts in the comments, and show your support by liking the idea. Please follow if you're interested in more ideas like this. Your support is greatly appreciated!
Long
by Candlestick_OB