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Dollarcad

USDCAD - Is it time to finally buy?USDCAD - Is it time to finally buy? USDCAD - In my year ahead outlook these were the levels I was talking about the 1.20 areas!! We have finally got to those areas longer term at a key 1.618 area but now it's looking a little over extended the bears. Where does this leave us? This could be a great opportunity for a trade up towards key resistance zones! Whilst trading CAD, keep an eye on WTI (CL) Technically: Pattern: Channel Resistance: 50 EMA - 1.21895 areas Support: 1.20785 - 1.20780 If we go above 50 EMA Close above out of the channel down - Bulls will come into control to the next resistance areas (Drawn in red) that could be potential take profit areas! Key tip: It's important to implement your own trade plan for further confluence. Trade Journal (Just a trade idea, not a recommendation)
U
by Trade_Journal
USDCAD Longs Caddy looks like its about to erupt from the looks of its current price action. We have been on a downtrend for the longest of time and it looks like we're about to breakout and rise above. We have failed to break 1.25 by supporting this and had 2 formations of higher lows, from this the attempt to break resistance at 1.26250 is imminent and I am quite confident if we manage to close above the trend line and 1.26250 we could indeed see the pair fly towards 1.28-1.2285 territory.
Long
by RyanXavier
🔰USD/CAD - Simple Analysis to catch Pips by your own this week 🔰 USD/CAD will follow DXY lead - So for this pair is Bullish 🔰 🔻 USDCAD Daily Candle closed Bearish - But the price is trading above our Blue dotted line which was representing a Resistance to this Bearish Trend from last year 🔹 Our Next Bearish Support from here is 1.2600 following our Target as a Major Support for the week 🔹 As long as the price is holding Above 1.2600 will remain in Bullish Market ✅ Bullish Oil + DXY will support this pair to trade Higher 🔔 We will trade USDCAD when the price give us a good Risk to Reward opportunity - at the moment before London Session we will remain Neutral
by PipOfLife
2
Great Buy Opportunity In USDCAD! Disclaimer: this is an idea, trade off it at your own risk USD CAD has just made a false breakout and has made a strong move up and broke out of the 4H trend, it has also reached above the 200 EMA line. We should be waiting for the retracement as it approaches the 50% - 61% fib area and look for the perfect buy in that zone (140 - 260 PIPS in Profit) Then we could possibly look for another buy as it reaches closer to the range high. If it drops down to the reverse zone we should be looking for it to test the range low support area, and if it breaks out of the range low then we should look for sells as it will approach the February 2018 support area and then look for new structure, potentially a reverse.
Long
by YoungShaq
Dollar CAD - Manipulation TimeThe week of August 17, USDCAD had no high. Its open was its high. It then waterfalled down to under 1.30 before bouncing. That low was never revisited. After FOMC, I'd say everyone is expecting a quick return to bull and a quick return to dump town for the once-mighty USD. I'd say they're right, but not before we see some good ol' fashioned manipulation. Long a stop raid on anywhere around 1.312 for best results/RR. But we may not see such an opportunity since short sellers are trapped. Once the raid on 1.326 is complete, price will come down quickly and retail can quickly begin to buy the top on TSLA and APPL again, and that's where the real opportunities emerge. Not that a 100 pip "scalp" isn't enough of an opportunity...
Long
by LordWrymouth
USDCAD | Bullish Flag Above Strong Horizontal SupportPlease support this idea with LIKE if you find it useful. Initiate Long. Entry - 1.30735 TP1 - 1.31057 TP2 - 1.31330 SL - 1.30643 Reason: Price retraced from Strong horizontal support and formed a bullush flag, the fact the pattern formed above strong support makes it stronger. Also we see the price was supported by Pivot Point, and MAs (25,50) Thank you for reading this idea! Hope it's been useful to you and some of us will turn it into profitable. Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts. The information given is not a Financial Advise.
Long
by Anpu