USD/CAD - Key levels to watchTechnical analysis
The price is currently in a downtrend, please see the chart marks and the technical explanation below.
30-minute chart
On the 30-minute chart, USD/CAD is currently in a downtrend. The price is below the 200-period moving average, and the relative strength index (RSI) is below 50. This suggests that momentum is to the downside.
4-hour chart
On the 4-hour chart, USD/CAD is also in a downtrend. The price is below the 200-period moving average, and the RSI is below 50. This suggests that momentum is to the downside on this timeframe as well.
Daily chart
On the daily chart, USD/CAD is in a consolidation phase. The price is between the 50-period and 200-period moving averages, and the RSI is around 50. This suggests that there is no clear direction for the price on this timeframe.
Conclusion
Overall, USD/CAD is in a downtrend on the 30-minute and 4-hour charts, but in a consolidation phase on the daily chart. This suggests that the price is likely to continue to move lower in the short term, but there is no clear direction for the price on the longer term.
Forex-analysis
Audchf broke up higher pullback for longs
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Usd still bullish,but could see some headwindsUsd broke up higher into the green zone as shown on chart. Could face some strong R here. Just watch and act accordingly.
Cheers!
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Potential turning for Audchf?Watching it closer on h1 for next week...
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Gcad could be starting to go higher after this pullback...
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EURNZD should be looking at more upside to come!
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Usd still bullish, not much sign to turn yetShould be cautiously taking long on USD , but also mindful of the extended rally it has so far since mid july 2023
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USD has some headwind at trendline and last R area**Find out more from my Tradingview Stream this week**
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Gbpcad likely more of pullback to long,bias up**Find out more from my Tradingview Stream this week**
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GbpChf mid of a daily/weekly rangeWatching it to act accordingly...
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Usdsgd watching for pullbacks to short
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AN should be continuing downLast week, I mentioned about looking to short on AN if there's opportunity...a pullback pull can be seen since tues. Bearish flag on h4, looking to start shorting again for AN.
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EN/EA likely a pullback on higher timeframe and look for long Bias to go on long on lower timeframe
Likewise same for EurAUD
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Two scenerios for USDAcross the USD majors, I still do see weakness in other currencies.
Bias for me is to go long but will be mindful it clearing 103.30 area as it is the downtrend area.If h4 flips over , likely would continue bearish.
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XAUUSD: facts surrounding interest ratesThe XAU/USD pair is experiencing a downward trend for the third day in a row. It reached a low of $1,902.80 during the American session. The US Dollar gained strength before the opening of Wall Street due to negative US data and upcoming statements from central bankers, leading to a risk-off sentiment in financial markets.
In the first half of the day, investors were optimistic, resulting in significant gains for high-yielding stocks. However, the US published a preliminary estimate of the May Goods Trade Balance, revealing a deficit of $91.1 billion, which caused a shift in sentiment. Additionally, Wholesale Inventories decreased by 0.1% in May, falling short of expectations.
Support levels: 1,903.00 1,888.10 1,870.15
Resistance levels: 1,920.80 1,933.50 1,9431.40
AN fast up come with fast down,short until it turns
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EU should be looking for shorts on pullback
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Gold Bias: ShortIn the 30-minute timeframe, gold has broken the structure, showing the bearish trend continuation. The signal is going to be printed soon. If this happens, if we can see a nice price action signal like a parish pin bar or a bearish engulfing bar, then take a sell trade, and place a stop above as seen in the chart above.
Gcad bias on the upside.Trend direction could have flipped on d1, watching for pullbacks.
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EN pulled back for up side to come?Chart wise, check out my stream this week for more info!
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Usd at last key levelTo hold or to break, bias still on the downside, long with care.
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