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USDCAD DAILY BREAKDOWN FROM A HIGHER TIMEFRAME VIEWPOINT Hello Traders, This the Daily Breakdown for FX:USDCAD on The daily timeframe we already took the monthly and weekly analysis you can check it on #Related ideas what new on this daily analysis! The daily analysis we find our Daily setup entry on a discounted o price with a clear P.O.I below the FVG " Fair value Gap " or IMB, that what we found and we also indentified the daily range and our next Target which is 1.3670. We gonna refine the OrderBlock on the 4H So stay Tuned For it!!
Long
by BlackWatch01
Silver- Bear trend is the name, sell rallies is the gameIn my Saturday video analysis, I said that Siver could drop and test the 21 zone. XagUsd dropped hard and even exceeded my target. After the low under 21, Silver started to consolidate and recovered some losses. The recent price action is carving a small double bottom on our chart that could lead to further gains. However, considering the strong down pressure, I do not recommend buying into correction but selling rallies above the double bottom's neckline A good place for searching entry signals is the zone between 21.50 and 21.80 The target could be set in the recent low zone at 20.80
OANDA:XAGUSDShort
by Mihai_Iacob
4
GbpCad could drop to 1.6After the low in September last year, GbpCad started to rise with a first very aggressive leg-up of 2500 pips from October to mid-December. However, after the top from December, the rise was contained in a big rising wedge to August, a double top marked the end of this rise and we have 3 very important breaks following: first, the break under the rising wedge's support, followed by the break of the neckline of the double top and finally the break under important horizontal support of 1.67. Recently the pair have made a local low in the 1.64 zone and now is in a recovery mood. Considering the 3 important breaks that you just talked about, we could consider a trend change for this pair and, this recent rise to test the broken support, now resistance, could offer traders an opportunity to join the recently formed bear trend. In conclusion, traders should look for signs of reversal and set a target at the 1.6 zone for their short trades. Note: when you set your stop loss, keep in mind that GbpCad is an extremely volatile pair
Short
by Mihai_Iacob
1
Gold- New low and reversal after?As I said yesterday, Gold is approaching a very strong support level, and considering the 1k pips drop in only a few days, a correction is probable. Yesterday's price action was very volatile, also suggesting the bottom is near. Although XauUsd could correct up without making a new low, considering the trend is strongly down, from money management and R:R perspective, only a buy in 1805-1810 would make sense. That being said, I'm looking to buy dips for a new test of yesterday's high.
OANDA:XAUUSDLong
by Mihai_Iacob
8
GbpJpy- Keep a close eye at 183.50 zoneAfter the high for the past 5 years close to 187, as it was normal, GbpJpy started to correct. Recently, the pair reached the 181 zone and here we have a small double-bottom, with its neckline broken yesterday. This suggests a continuation to the upside and a rise around the 183.50 zone. However, considering that this level acted both as support and resistance in the past 2 months and also is confluent with the falling trend line from the top, traders could look for opportunities to sell, in anticipation of a new leg down. The target could be set in recent's low zone and negation comes with a daily close above 184.50
Short
by Mihai_Iacob
7
AudJpy- Where to sell for 1:3 R:R?Yesterday, like all the Jpy pairs, AudJpy was also affected by the verbal intervention from BoJ. The pair dropped quickly 200 pips, but more importantly, it broke under important confluence support at 95. This level is offering now a good resistance point and, with the pair in recovery at this moment, rallies should be sold. In conclusion, prices close to 95 are good opportunities for bears and, considering a target at 92 next important support, a good 1:3 R:R could be achieved
Short
by Mihai_Iacob
UsdCad- Constructive price action after 1.34 testRecently, UsdCad dropped under 1.35 support just to test the next important support from 1.34. Since that low on 20 September, the pair started to rise again and now is trading back at the old support now resistance and important 1.35 figure. The rise is painting an ascending triangle on our chart and this usually means up continuation. A break above resistance would bring confirmation and the pair could rise back to test the 1.3650 zone. A drop under 1.3450 would put the pair in a range trading mood.
Long
by Mihai_Iacob
18
XAUUSD Trade ideas 4/10/23 winning streak!good evening gold gang! .. sometimes i amaze myself lol .. the analysis for this week has been scary to say the least .. absolute accuracy! The range were in currently is very messy .. look at all those wicks. We are consolidating for the news tomorrow as we have some heavy folders incoming! .. lets goooo price below the algo 1818 is also a lttle messy but theres a huuuuge support down there for price to retest. If you miss the sells to there, you will certainly need to hit the reversals no buys for me until the 1827 algo is closed above on the 4h So just wait gang! .. patience pays as always im working on an indicator! i cant wait to show you it .. it works great with the strategy follow along and dont miss the updates .. hit the like too please! catch you in london tommyXAU
OANDA:XAUUSD
by tommyXAU
11
EurJpy- Close to a support breakIn my weekend analysis about Jpy crosses I said that we should keep a close eye on these pairs because, although UsdJpy is still in a strong up trend, cross pair may have topped. In EurJpy's case, yesterday the pair had a spike up, this spike was very short-lived lived and EurJpy reversed strongly and closed the day with a huge bearish engulfing. At this moment the pair is trading exactly in support zone and looks like pressing for a break. In such an instance, considering we had a month of range and distribution, we could see down acceleration, and the medium target could be 151.50. Interim support is at 154 and this level could also represent target for shorter-term traders.
Short
by Mihai_Iacob
19
Navigating Gold's Strong Bearish Move: Is a Correction up next?As explained in my Sunday video, Gold is extremely bearish and the price could fall to 1805-1810 support. Indeed, XAU/USD started the month and the week on a bearish note and is currently trading 300 pips lower compared to Friday's closing price. Looking at the posted chart we can see that this is already the 7Th red day (not closed yet) and after the break under 1915 support, the price dropped almost without correction. Just an intraday spike on Friday. All in all, we are in a very strong bear move However, considering the magnitude of the drop and the proximity of an important support, a correction could follow. Aggressive traders could look to buy in the support zone. Keep in mind though that everyone is expecting a correction and a spike under 1800 to clear stops is not out of the question. On the much safer side, sell rallies should be the strategy.
OANDA:XAUUSD
by Mihai_Iacob
5
AudUsd- Remains bearishSince mid-August, AudUsd is trading in a range. Last week the pair tried to break under support and failed. The pair reversed and tested 0.65 zone resistance once more, a level at which bears sold the pair aggressively, leaving a long-tailed Pin Bar on our chart. At the time of writing the pair is dropping once more and this time is very probable to have a genuine break of support if the pair touches this level again. In this case, down continuation to the 0.62 zone is the most probable scenario. As long as AudUsd is trading under 0.65 I'm bearish
Short
by Mihai_Iacob
20
EurChf could rise furtherSince the beginning of 2023, EurChf has been on a downward trend. However, at the end of July, the pair found support just above 0.05, and after a month of consolidation and 4 touches of this support level, EurChf reversed to the upside and is trading now at 0.9680, exactly under an important confluence resistance. Looking at the chart we can see that for a week now the pair has been pressing in this resistance and we could have an up break soon. In such an instance, EurChf could rise further and the 0.9830-0.9850 zone.
Long
by Mihai_Iacob
6
Gold- 500 pips target hit! Now what?As you know, I was bearish Gold since Tuesday and argued that, if XauUsd breaks under 1915 zone support, we could assist a 500 pips drop. The "major target for bears" was hit yesterday and now we may wonder what's next. Technically, the structure is strongly bearish, however, considering the magnitude of the recent drop, a correction to the upside is probable. Also, the fact that is Friday adds to this possibility, considering a lot of take profits. In conclusion, 1855 technical support could offer good buying opportunities for a rise and test of recently broken support at 1885. Also, the congestion from 1875 could offer resistance. Best of luck and happy trading! Mihai Iacob
OANDA:XAUUSDLong
by Mihai_Iacob
21
CadChf- A bottom could be in placeSince the double top back in May 2022, the CadChf pair has traded in a clear and nice downtrend. However, although the pair is still under the falling trend line, the pair hasn't made a significant new low after the May one, and for a month now it has been stuck around 0.65. A reversal could be next for this pair and, considering a target at the recent 0.68 high, a nice 1:3 risk: reward could be achieved. Keep in mind is a very slow pair!
Long
by Mihai_Iacob
13
Bearish Outlook: EurCad's Potential 500 Pip Drop AheadSince the beginning of 2023, EurCad's price has been trading above 1.4250, a level that became a very important line in the sand, with a test in January, February, and back in June, Recently, the price came back to this level and after only one day of consolidation, yesterday broke under. This is a very important break for the pair and opens the door for further losses. As we can see from the chart, yet another important break happened at the beginning of the month- The ascending trend line support- and also the price action from the past 12 months resembles an H&S. All in all, I expect a drop of around 500 pips in the coming months and a positional trader could take advantage of such a trade.
Short
by Mihai_Iacob
9
Range-bound EUR/JPY: Is Distribution in Play?A few days back I discussed UsdJpy, saying that even though there is a high divergence between FED's and BoJ's policy, at the same point the pair could reverse hard. In EurJpy's case, however, things are not exactly the same and technically, we even have strong signs of topping. Looking at the h4 posted chart we could see that for a month and a half now the pair is in a range and in fact, it looks like pressing down so it could be in fact, distribution. That being said, as long as 158.50 is intact, I looking to sell rallies in anticipation of a break under support. As for the target, 153 is a pretty reasonable one if we have a genuine break
Short
by Mihai_Iacob
2