USD/CAD - SELL UPDATE We look at the USD/CAD short sell set up I posted a few weeks ago.
There are three key fundamentals driving the dollar lower at this time.
1.) Negative Interest Rate Differential
2.) Negative Current Account Balance
3.) Broad U.S Dollar Selling Across The Markets
2.) Higher Oil Prices (Positive for CAD)
We look at technical analysis entry strategies and ATR 1 month stop-loss pricing.
Crude Oil Brent
UK Oil ― recent trade in European session ― waiting for the nextADX-BRIEFING #35
On Power:
“Opportunities to find deeper powers within ourselves come when life seems most challenging.”
― Joseph Campbell
Here is the trade of the day, on my side.
Entry justified because MACD and ADX and the 2 Momentum indicators all give a BUY signal.
Long trade initiated.
Profit target: 40 pips.
I see that it reaches 38 pips.
Then price-flow slows down.
Locking in profit.
38 pips in the bank.
Moving on and waiting for the next one.
Then, here is what happened to Brent afterwards.
A retrace and a bump up, reaching the same price area as where I initiated the short trade earlier this morning.
More details can be found on ADX-BRIEFING.
That is all for today.
Wishing you a great week,
― François Normandeau
Institutional Research Director at ADX-BRIEFING
USD/RUB - Sell Update In this video update to a previous video I posted on selling USD/RUB, we look the Dollar getting weaken against the Ruble and a perfect time to enter a short sell-set up.
The Ruble has a number of factors supporting it's strength agaisnt the Dollar.
1.) Higher interest rates mean selling the currency pair gives you a positive overnight carry trade opportunity.
2.) Higher Oil prices will support the Russian Ruble as Oil makes up 55.92% of Russia's exports.
3.) A weaker U.S Dollar and negative current account balance should further depreciate the dollar.
The one risk to a downside sell is U.S Sanctions on Russia should the Joe Biden take a tough stance with Russia.
We look at Entry price, stop loss and take profit targets for this trade idea.
CRUDE OIL video top-down AnalysisHello everyone, if you like the idea, do not forget to support with a like and follow.
Here is the top-down analysis for CRUDE OIL, feel free to request any pair/instrument or ask any questions in the comment section below.
Best of luck!
CRUDE OIL video top-down AnalysisHello everyone, here is the top-down analysis for CRUDE OIL, feel free to request any pair/instrument or ask any questions in the comment section below.
Best of luck!
Divergence in Brent Price and RSI indicator?Are we seeing clear divergence between the price of Brent and the 14-day RSI over last couple of months? Check out my video and let me know what you think?
With the recent double-top, I'm thinking there's got to be a strong case for a Sell position here...
CRUDE OIL waiting for the sell setup to formon DAILY: CRUDE OIL is sitting around a strong resistance zone so we will be looking for objective sell setups on lower timeframes.
on H4: CRUDE OIL is trading inside our red wedge pattern but the lower trendline is not valid yet so we are waiting for a third swing to form around our lower trendline to consider it our last swing and then enter on it break downward.
so also have a regular bearish divergence adding more confluence to our sell setup.
CRUDE OIL waiting for the sell setup to formon DAILY: CRUDE OIL is approaching a strong resistance in green so we will be looking for objective sell setups on lower timeframes.
on M30: this one is forming a wedge pattern in red but it is not valid yet, so we are waiting for a third swing to form around our lower red trendline to consider it valid and enter on its break downward.
we also have a regular bearish divergence on MACD adding more confluence to our setup.
CRUDE OIL waiting for a trigger to sellon DAILY: OIL is currently sitting around a strong resistance zone in green and almost filled the previous gap so we will be looking for objective sell setups on lower timeframes.
on H1: OIL is trading inside a wedge pattern (not valid yet) so we are waiting for a new swing to form around our lower red trendline to consider it objective and enter on its break downward.
or we are waiting for the right shoulder to form and then enter on the head and shoulders neckline break downward.
meanwhile, OIL would be overall bullish.
BRENT OIL top-down analysison DAILY: BRENT OIL is approaching a strong resistance and GAP zone so we will be looking for objective sell setups on lower timeframes.
on H1: OIL is currently trading inside our orange channel, so we are waiting for a new swing to form around our lower orange trendline to consider it objective and enter on its break downward.
we also have a regular bearish divergence on MACD.
meanwhile, as usual, BRENT OIL would be overall bullish until an objective sell setup is activated.