Canadiandollar
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.
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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).
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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).
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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.
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.
GBPCAD - Head and Shoulders 📉On The Daily Time Frame The GBPCAD Price Reached a Resistance Level!
Currently, The Price formed a Head and Shoulders Pattern 📈
The Neckline is Broken 🔥
So, I Expect a Bearish Move 📉
i'm Waiting for a Retest...
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TARGET 1: 1.66970
TARGET 2: 1.66000🎯
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EURCAD - Support Becomes Resistance!HELLO TRADERS !
The EURCAD Price Reached a Weekly Resistance Level (1.48893)
Currently, The 1.47874/1.47343 Support Level is Broken 🔥
The Broken Support becomes new Resistance Level ✔
so, I Expect a Bearish Move 📉
i'm waiting for a retest...
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TARGET: 1.45665🎯
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EURCAD GOING BACK TO NEW HIGHSEURCAD has been on a bullish trend for long and it's showing signs of more bullish move to 1.49390, as we can see patterns, continuation patterns that shows that price will continue it's bullish move, but now I expect price to break the resistance zone and retest it to go head to 1.49390.
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.
USDCAD - Important Breakout 📉Hello Traders 💖
The USDCAD Price is Failed to Create a New Higher High.
Currently, The Price Breaks the daily Support Level , the old support becomes new resistance level ✔️
So, i Expect a Bearish Move 📉
I'm Waiting for a Retest...
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TARGET: 1.35270🎯
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CADCHF TO 0.71500I expected price to take out July lows that's why I didn't post this setup.
Now price is acting like it won't get to reach our expected ;ow, they did this through the double bottom we can see clearly.
I placed a resistance line i which I expect the price to break and use as a support to the 0.71500 resistance point.
Please do share, and give a follow to support.
EURCAD: One More Bullish Move Ahead 🇪🇺🇨🇦
EURCAD is taking off from a solid horizontal structure support.
The price formed a bullish engulfing candle on a 4H time frame,
engulfing the range of the last 4 candles.
Chances will be high to see a movement up.
Goals: 1.485 / 1.4914
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EURCAD - Bullish Move !Hello Traders!
ON THE DAILY TIME FRAME THE EURCAD PRICE BROKE THE DAILY RESISTANCE !
Currently, The Resistance Level becomes New Support Level !
So, I Expect a Bullish Move 📈
i'm waiting for a retest...
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TARGET: 1.48955🎯
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✅GBP_CAD SHORT FROM RESISTANCE CLUSTER|SHORT🔥
✅GBP_CAD has reached a
Cluster of the falling and
Horizontal resistance levels
So despite the strong bullish
Momentum of the pair
It seems that before the
Bullish breakout we might
See some correction
From the cluster above
SHORT🔥
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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.
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✅USD-CAD BROKE THE NARROWING WEDGE|LONG🚀
✅USD-CAD is presenting us with
The classic trend following long
Opportunity because of the
Confluence of multiple factors
All pointing upwards such as
The uptrend, the bullish wedge pattern
And finally the bullish breakout
LONG🚀
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CADJPY Confirmed sell.The CADJPY pair broke below the January 19 Low and the Arc pattern is giving the same confirmed sell signal it gave on November 11 when this multi-month downtrend had started. Even though the downside may be quite significant if it imitates the whole November - December move (-14.22%), we will target 90.000, which is the top of the 1 year Support Zone, slightly above the 1W MA200 (red trend-line).
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AUDCAD on a Head & Shoulders pattern. Trade the break-outs.The AUDCAD pair is about to complete a Head and Shoulders (H&S) pattern, trading within the 1D MA50 (blue trend-line) and 1D MA200 (orange trend-line). The 1W RSI is far from its Buy or Sell Zone (long-term) so on the more medium-term the best approach is to trade the break-outs.
The neckline of the H&S is at 0.933250 so a candle close above it invalidates the bearish bias of the pattern (H&S is a bearish reversal formation). In that case, we will target 0.95500 (Resistance 1) and a new closing above it will target 0.97500 (April 20 2021 High).
Until the pattern is invalidated, look for a confirmed bearish break-out below 0.90450 (Support 1) and more importantly the 1D MA200 (orange trend-line). In that case the target will be 0.88700 (Previous Low).
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