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Loonie Shorts Im looking to short Loonie around 1.32514 with a stop @ 1.33465 and final target of +430 pips @ 1.28215 1. Now if we dive deeper into why I'm leaning towards bearish first lets dive into our fundamentals, like most will know last week the US cut 25 basis points from the dollar for the first time in a decade, fundamentally that weakens the dollar but right off the bat the dollar soared and the reasoning behind that was during the statement Jerome Powell started to speak in some hawkish terms which then confused investors and made uncertainty in the market, but then he next day Trump went after China putting the 10% tariffs on chinas goods which in return starts to worry investors about the dollar so they start moving their money to safe havens like Gold or JPY which is a result of gold going higher and UJ, EJ , GJ all falling. 2. Lets look into Canadas fundamentals, we already know that the DXY is starting to lose some strength and with the trade war tensions going on it will continue to lose strength, this week on Friday August 9th we have Employment change for CAD which is looking to be positive if I had to guess somewhere around the +20.5k or so and we have the Unemployment rate which is also looking to be positive possible around 5.6-5.7% so now that we have our fundamental bias for USDCAD we believe the dollar is getting weaker from trade war tensions and we believe the CAD will get stronger from Employment Change & Unemployment rate this week. 3. So now we dive into the technicals behind our fundamental bias for shorting Loonie on the Daily Tf we have our fibs with the 61.80% at 1.32750 & we are reaching our 25.00% fib channel at 1.32515 overall maintaining downtrend structure, with longterm downtrend since 2016 with a temporary uptrend returning to overall downtrend since December of 2018, we have a major support that through past price has continued to be met at 1.27500 and im looking to take my profit at a keylevel slightly above it at 1.28215 we also could use our -27.00% fib level for a TP1 at 1.29082 and our -61.80 for TP2 at 1.27648 which aligns perfectly around our support but my key level @ 1.28215 should take around 8-14 days to be met then from there I expect some sort of bounce before officially meeting the support of 1.27500. 4. Last thing is also around our 61.80% fib which is the general area of entry there is a lot of distribution building up look at this as a institution sees they are making there own entries by building distribution they push the market up to then build liquidity to push the market lower, therefore why im using around a 95 pip SL because sometimes when it looks to obvious the institutions can push the market up temporarily to fake out sellers stops and fake out buyers to come into the market before the real move, so I like to give my trade room to breathe so that the move can present itself. As always this is my bias take this as you will use it as confluence and have a Blue trading week!
Short
by suspect102
USD/CAD Trade IdeaHello and welcome to my Trade Idea of the currency pair USD/CAD. Lets start with the Top Down Analysis. Monthly: Monthly is bullish but due to the 2 huge bearish candles I am divided opinion. There was also a LH formed as well as a possible LL. Weekly: On the weekly timeframe, we see because of the huge bearish candles that we are bearish. The price reacts perfect to the weekly RES and its possible that the price can't close above the resistance. Daily: On daily we see a beautiful downtrend with a little bullish pullback and look for short entrys H4: After the touch from the weekly RES we expect a push to the downside. As well we draw the counter trendline and wait for a confirmed breakout. Have a nice day.
Short
by Bullandbeartrading
19
ETH/USD Trade IdeaHello and welcome to my Trade Idea of the currency pair ETH/USD Lets start with the Top Down Analysis. Monthly: The last months have been bullish with increasing size Weekly: On the weekly timeframe we see bullish momentum with a little pullback to the trendline we have drawn. Daily: On daily we see the pullback more exactly but i think that the trendline acting as support will give some momentum to the upside. H1: On the H1 timeframe we draw the counter trendline and think that the price pushes to the highs. Have a nice day.
BITFINEX:ETHUSDLong
by Bullandbeartrading
6
Dollar Index Perspective Focused Fortune FXHere we have used fan trendlines to try grasp a better understanding of where their may be a significant zone for the dollar, as we can see above the current price is some previous highs in 98.50 range, which we seen price struggled to break. from here what we could look at is a negative for the dollar just before the interest rate decision on tuesday where i could see a pump in the dollar with an expected decision. (Fundamental Study) here we can see that the dollar is reaching an important level where looking at price action we can see which could be considered two high wicks on the peak of 97. level, todays a make or break for the dollar, today we could see 95s/96 or even 99. Every one has been prolonging an expected move. I like to try think of the unexpected as the market tends to look for shocks with huge data. - key fib level -price action looking good thus far -nice bounce and respect of previous confluence areas! Trade would carry alot of risk today, so trade responsibly.
TVC:DXYShort
by tradingandy12345
USDCAD Long Term Downside SetupUSDCAD Weekly chart gives us an indication of overall price momentum to the downside as price has retested the weekly resistance zone of 1.35200. Overall a break in upwards channel from 1.34150 has seen USDCAD sustain its shorts over the last 3weeks. After a break - Price will usually form a pullback/consolidation zone. Perfect for re-entries. A Weekly Pullback from Support Zone of 1.30200 has encountered yet another wall of weekly resistance of 1.31500. Weekly Depicted Below Daily Chart gives us a bearish flag continuation pattern with ideal swing target set at 1.25000 See below D1 Down to the 4HR Chart, a huge range of consolidation confirms our higher time frame bias on going short on USDCAD Overall . It is important to note that the only driver of higher CAD prices could indeed be fundamental news/ lower OIL prices. Fundamentally CAD sees itself losing steam gained against the USD as FED may hold true of cutting rates.
Short
by HuracanFX