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Canadiandollar

CADJPY: Next stop the monthly falling trendline?There's not much in the way of this move from what I can see. Yen continues to be the weakest currency in the G10 (for now, BoJ look set to intervene at some point this year) and for the short term I expect this to continue to meet the descending long-term trendline that's formed. I'll be looking for sells around 115 with any LTF confirmation, but until then I'm going to be doing some long scalps not that local resistance has been broken and retested.
Long
by Finchcliffe
NZDCAD Bullish, dip buy opportunity targeting 0.85400The NZDCAD pair has hit the 1D MA50 (blue trend-line) yet again today and remains under Resistance 1 (0.84300) since July 14 2023, having multiple rejections on it. We do see however the potential for the emergence of a Channel Up, as the 1D RSI is printing the same pattern as the October 20 2023 Low, which initiated a Bullish Leg. If the Channel Up prevails, that can be its new Bullish Leg to a Higher High. As a result we turn bullish on the pair, aiming for Resistance 2 at 0.85400. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Long
by TradingShot
1
CADCHF Rejected on the 1D MA200. Sell opportunity.It has been more than 4 months since our last analysis on the CADCHF pair (October 10 2023, see chart below), which was a sell signal that hit directly our 0.64800 Target: The current signal is no different, as the continuous rejection on the 1D MA200 (orange trend-line) since February 13, is giving a strong sell signal, which will be confirmed once the 1D MACD forms a Bearish Cross. As you can see, the pattern since December 2022 is a Channel Down and every 1D MACD Bearish Cross above 0.00, has formed a Lower High, hence issuing a strong sell signal. Our Target is the top of the Support Zone at 0.63500, which has been the first Target during the previous 2 Lower High rejections. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Short
by TradingShot
EURCAD,🟢Is it time to buy?🟢(Details on caption) Well, The price had a bullish reaction after touching the daily FVG, so I expect a more bullish move in EURCAD. As the first target, we can define the liquidity pool that formed as an equal high at 1.4573. The price formed the bearish order block, we should study the price in this zone because it is an important supply zone, if the price breaks this zone we can expect the price to be at a higher price. If the price stays above the daily bullish FVG, the bearish FVG can be our final target. (1.4780-1.4890)
Long
by VahidTradingCR
1
USDCAD Buy the bounce short-termOn our last USDCAD analysis (December 01 2023, see chart below), the price action gave us an excellent sell entry that easily hit our 1.3400 target: The pair has since rebounded above both the 1D MA50 (blue trend-line) and 1D MA200 (orange trend-line). We expect the 1D MA50 to hold and deliver a new short-term rebound towards the 0.618 Fibonacci level (Target at 1.36200), comfortably below the 1-year Symmetrical Resistance Zone. A closing above the that Zone would present a new buy opportunity after a pull-back near the 1D MA50 again with a target on the Resistance 1 level. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Long
by TradingShot
4
GBPCAD Analysis(➡️RR=2.00)🏃‍♂️ GBPCAD is moving near 🟡 Potential Reversal Zone(PRZ) 🟡and 200_SMA(Daily) . 🌊Regarding Elliott Wave theory , GBPCAD is completing the Expanding Flat(ABC/3-3-5) corrective structure. 💡Also, we can see Regular Divergence(RD+) between two Consecutive Valleys . 🔔I expect GBPCAD to rise to at least the 🔴 Resistance zone(1.715 CAD-1.700 CAD) 🔴 after breaking the Resistance line . British Pound/Canadian Dollar ( GBPCAD ) 4-hour 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
1
USDCAD,🟢Possible scenarios (Read the caption) Well, as you can see the market structure is still bullish. Now there are two modes that I will explain. The first one, there is a strong demand zone that can hold the price and push it up. This demand zone is located at the 0.705 Fibonacci level which makes it more reliable. The second scenario is the price continues the retracement to the extreme bullish order block which grabbed the liquidity and created the FVG. The TPs of both scenarios are the same, the first TP can be the strong supply zone that we expect the bearish reaction on this zone and the final TP is the previous high. 💡Wait for the update! 🗓️29/01/2024 🔎 DYOR 💌It is my honor to share your comments with me💌
Long
by VahidTradingCR
3
USD/CAD Faces Strong Resistance:Technical / Fundamental AnalysisUSD/CAD Faces Strong Resistance:Technical / Fundamental Analysis The USD/CAD pair has encountered a pivotal juncture, rejecting the 78.6% Fibonacci Level around 1.3530 during the early European hours on Friday. This article explores the technical and fundamental factors influencing this rejection and delves into the broader economic landscape affecting the US Dollar (USD) and the Canadian Dollar (CAD). Technical Analysis: The rejection at the 78.6% Fibonacci Level, situated at 1.3530, signals a noteworthy development. The price is met with strong resistance, marked by the confluence of the Fibonacci level and a bearish dynamic trendline. Additionally, the Relative Strength Index (RSI) has dropped from overbought conditions, hinting at a potential downward move aligning with the prevailing trend. Market Overview: Simultaneously, the US Dollar Index (DXY) is trading around 103.40, reflecting the broader strength of the USD. Notably, the 2-year and 10-year yields on US bond coupons stand at 4.35% and 4.15%, respectively. Despite these positive indicators, the rejection at the critical Fibonacci level suggests a potential shift in momentum for the USD/CAD pair. Fundamental Influences: Monthly US Housing Starts exceeded expectations in December, reaching 1.46 million against the anticipated 1.426 million. Building Permits (MoM) also reported growth, surpassing the market consensus at 1.495 million. Additionally, Initial Jobless Claims for the week ending on January 12 decreased to 187K from the previous reading of 203K, showcasing resilience in the US labor market. On the flip side, the Canadian Dollar (CAD) has found support from elevated crude oil prices, a critical factor given Canada's status as the largest oil exporter to the United States. West Texas Intermediate (WTI) hovers around $73.90 per barrel, contributing to CAD strength as Crude Oil stockpiles decline. Conclusion: The rejection at the 78.6% Fibonacci Level for USD/CAD, coupled with the confluence of technical resistance and bearish signals, suggests a potential shift in the pair's momentum. While positive economic indicators support the USD, the Canadian Dollar gains strength from robust crude oil prices. Traders should monitor these technical and fundamental dynamics closely, as they navigate the complexities of the forex market. As always, prudent risk management and a keen awareness of market conditions are crucial in making informed trading decisions. Our preference SHORT positions Below 1.36300 with targets at 1.34000 & 1.32500 in extension.
Short
by FOREXN1
5