FOREX ANALYSIS : CADCHFFX:CADCHF [/symbol
If you want to use this idea, please risk only one percent of your account balance.
Sellcad
BUY USDCADBreakout to the upside is loading. I expect price to take out the liquidity above 1.39 zone. Targets as high as 1.40 tight stops below 1.3772. Use proper money management.
SELL CADJPYShort OANDA:CADJPY targets below 103.282. Stops above the 105.615. Technical break of structure, and bearish bias from cot data. Use proper money management.
GBPCAD Bullish ideaWEEKLY --- Long term channel with two false breaks and divergence
Daily -- False breaks, convergence principle, pull back
1 hour - - convergence, divergence 50% pull back
CADJPY More Likely SHORTOur 4Hr chart shows a shallow downtrend since the start of August; since then the trend has been so shallow CADJPY has ultimately been consolidating. Looking for a breakut we will use our resistance as we are down-trending. Our Resistance line shows we are at the top testing our line for the 5th MAJOR time. With no avail to proceed past. We will use our 1000 Range chart to determine the direction of the break. Knowing each range bar is the same size we can determine whether a break to the top or bottom is more likely. The red range line shows the potential move to the downside which lines up exactly with the last large support bounce. The black range bar shows upside potential, the upside move would have to fight harder and break the trend in order to succeed. The odds favor a downside move to $79.152 after a rejection at the resistance.
LNP Investments FX:CADJPY
Good reversal SELL pattern at CADJPYUsually CADJPY has positive correlation with BrentOil (attach idea at the bottom)
Sell 83.389
SL - 83.64
TP1 - 82.93
TP2 - 82.24
TP3 - 81.98
TP4 - 81.65
RRR - 1:6.6
USD/CADFundamentals:- After the Canadian data slipping for CPI last week the much gained CAD took a turn. WTI Light Crude which also links to the value of the CAD seems to be taking a bit of a down turn. With the US expected to continue on it's rate hike cycle then we should see this currency pair reverse and test previous resistance levels.
Techncials:- After the head and shoulders breakout last week we are now expecting the reversal. Already making headway we would like to see a pullback to the pyscological number of 12700 were there has been previous resistance that should give enough space to reach the resistance level with a decent risk reward ratio. take the 1 month free trial at boafx trading signal solutions and get all the info you need to make winning trades everyday.
NZDCAD trend continuation opportunity on daily chartWatching the big picture, we are still on an uptrend on the weekly and daily time frame which makes me look for trend continuation opportunities. Currently price is at a very sweet spot while RSI approaching oversold levels. Great risk:reward if entered at market if conservative stops and targets are used as illustrated on the opened long position in the chart.
Long USD/CADFundamentals: - Mixed data from Canada last week with a tick up in unemployment and worse than expected employment change. However the rally in Oil did help the Canadian strengthen for a period of time last week. I don’t think the Canadian can maintain a positive rally, once the data starts to be absorbed by the market we should see this pair return to the upside one again.
Technicals: This pair along with the pound is setting up to be a great trading opportunity. Besides the fact that fundamentals suggest further bull power, the technical’s come in supremely. The weekly closed as a pin bar rejecting the lows of 13600 and even 13800, these prices where the bottom prices on which we predicted a reversal to the upside couple weeks ago. On top of the pin bar we have a weekly 50% Fibonacci pullback and rejection from the 12800 swings lows from where price started trending heavily upward, lets couple that with a daily that formed a pin bar as well and a bullish engulfing that closed on the last day of the week and we have a nice recipe for high probability long trades. The trading plan in this regard is simple, we wait for a higher low in intraday to get in long at a better price or just take a trade with a larger stop loss on a new high. Want to know more about how I trade? take the free course bankonadam.com
