USD/CAD Daily Update (5 Oct 2016)Loonie is the track to reach 1.3330 target level as expected.
Now the market is Risk On , favor of USD,
Trade Safe
s0nic
Loonie
USDCAD Correction WaveLoonie is currently correcting. Bearish divergence on RSI. I'm expecting this to continue upward and complete the 5th wave of the flat correction. Waiting for confirmation of the reversal somewhere below the lower trend line (perhaps a pullback of some sort). The E wave may not be the last leg of this correction, so expect more sideways movement.
EurCad Big Bullish Potential of 600 pipsXA Is the initial Breakout Impuls of the multimonth Flag Pattern.
ABCD We are seeing another Breakout Flag pattern above the larger one.
ABCD also can be seen as a textbook Gartley pattern.
Natural target would be around 1.50 level.
My entries are: Buy 1.4485 Stop 1.4380 Target 1.4990
To be honest, i am liking this setup very much, and i also think the fundamentals could be in favor of this trade.
Good Luck!
EurCad Big Bullish Potential of 600 pipsXA Is the initial Breakout Impuls of the multimonth Flag Pattern.
ABCD We are seeing another Breakout Flag pattern above the larger one.
ABCD also can be seen as a textbook Gartley pattern.
Natural target would be around 1.50 level.
My entries are: Buy 1.4485 Stop 1.4380 Target 1.4990
To be honest, i am liking this setup very much, and i also think the fundamentals could be in favor of this trade.
Good Luck!
USDCAD - Buy setup on daily. (UPDATE)My previous analysis foresaw the current up movement. (SEE RELATED IDEAS).
This chart you can see the detail of the wave.
Good luck!
USDCAD Triangle ShortI have had a few posts in the recent past, looking for the long side of USDCAD to formulate out of this triangle. As I mentioned in my last post, the larger time frame and pattern will eventually rule over the shorter one. Luckily, I haven't lost too much on the long side of this pair.
I'm going to look into this set up:
Pattern: 20 wk triangle
Trade: Short
Units: 26k
Basis Point Risk: 50 basis points (for now)
Entry: 1.2850 (upon close)
SL: TBD, but will use Last Day Rule
TP: 1.2029
I am fully aware of the monthly support from 1.26170 to 1.2452. I am also aware of the larger H&S pattern on the weekly chart of this pair as well, if we get PA to the downside.
Let me know what you guys think and if you're waiting for something else.
CADJPY - 5 waves down on monthly and weekly basis.I guess it will be a 4th wave up on monthly. It has already an impulse that could lead to an uptrend within weekly & daily basis.
Cheers!
USDCAD. Strength after consolidation. Target 1.2073Wedge consolidation offers a good opportunity to plan the trade.
Target = the widest part of the wedge subtracted from the break point.
USDCAD on its way to Major resistance,possible breakout Any break above this level could drag USDCAD toward the next targets
Today's news (US nonfarm payrolls)
Will likely decide the fate of the looney and whether it can break out of the 1.2900/ 1.3000 range it has been stuck in
LOONIE SHORT IN PLAYAFTER DISMAL JUNE NFP RESULT THE DOLLAR IS ON THE BACKFOOT AGAIN AND WE CAN NOW SEE RESUMPTION OF LOONIE BEARISH TREND WITH PRICE ACTION CERTAINLY SHOWING A BEARISH VIEW,. 5 PRIOR DAILY CANDLES WAS INDICATING TO ME THE BULLS ARE BECOMING EXHAUSTED WITH LONGER UPPER WICKS. EXPECTING NEW LOWS ON THIS PAIR TO KEY STRUCTURE. SELL ANY PULLBACKS IN MY OPINION.
Potential cypher on USDCADThis market prediction is just my opinions. If you agree hit the like button, or you can share your view.
GBPCAD - 5 waves up on daily + eventual 5th wave to come.Supports & Resistances on chart.
Happy trading!
USDCAD good opportunity for long-term 200 EMA above is going to be targeted, and a break above that would signify a potential long-term set up
both RSI - MA show us a bullish momentum
Of course keeping in mind the influence of Oil market
USDCAD - Trend continuation idea for daily correction.Right now price is correcting (on 4h basis) within an upward correction (daily basis) in direction of the downtrend line (on weekly basis). The idea is to trade what could be a final wave up before reaching the trend line.
Watching for a proper price action on bounce area .
Please, share a LIKE to show support.
Happy trading!
USDCAD_ Potential Bearish Butterfly Pattern Technically , beside the completion of the butterfly pattern at structure zone , the crude oil is expected to rally after the bull back and the resistance will become support level at $46.60 per barrel , this might will appreciate the loonie .
USDCAD. Downtrend broken. Targets on the chart.Hello friends!
Loonie broke above multi-month downtrend.
Target 1 = 1.3405
Target 2 = 1.4016
Target 3 = 1.4690
Best wishes!
