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Usd-cad

USDCAD Beautiful long-term pattern tells you what to do next.The USDCAD pair has been on a relentless bullish run since the week of July 10 after almost touching the 1W MA200 (orange trend-line) and making a bottom on the +2 year Higher Lows trend-line. This rise will now face the first selling pressure point, the Lower Highs trend-line of the October 10 2022 High. Following a 1W MACD Bullish Cross, if a 1W candle closes above this Lower Highs trend-line, we can see a hyper-aggressive rally towards the 1.46900 Resistance. In that case, we will buy the closing and target 146500. If however the candle gets rejected and closes instead below the Lower Highs trend-line, we will sell towards the Higher Lows trend-line again and target 1.32550. The pattern technically resembles the December 2018 - February 2020 sequence, which was also rising on Higher Lows, had a correction under Lower Highs and after hitting the 1W MA200 and breaking below the Higher Lows, it shot upwards to the 1.46900 Resistance. Basically the wider outlook (big picture) of USDCAD is very informative for long-term trend projections as it is quite symmetric, trading within a 1.46900 Resistance and 1.20180 Support since January 2016. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
by TradingShot
3
USDCAD: Best sell signal since March.USDCAD is trading inside a Channel Down pattern that has almost completed 11 months of trend. The technicals on the 1D time-frame are overbought (RSI = 70.266, MACD = 0.007, ADX = 57.395) and that enhances the sell sentiment as the price approaches the top of the Channel Down. The previous LH was priced a little over the 0.786 Fibonacci level. The formation of a Bearish MA50/100 Cross was after the top was in and technically we are only a week away from the new formation. Consequently, we treat this as a sell opportunity, waiting to sell on the 0.786 Fibonacci, targeting the 0.118 (TP = 1.32000) as the April 14th low. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Short
by InvestingScope
4
USD/CAD: Double top beneath key swing highsUSD/CAD has risen just over 4% since its YTD low set in July. And it did so in a relatively straight line. Yet a double top has now formed on the daily chart beneath the April and May highs, with the second ‘top’ coming in the form of a bearish engulfing / outside day. This likely points to at least a minor top over the near-term. Any low-volatility moves towards 1.3600 could provide bears an improved reward to risk ratio, with 1.3500 making a viable initial target. Should US data such as GDP, ADP employment and Nonfarm payroll disappoint, we could be looking at much lower.
Short
by CityIndex
USDCAD - Trend-Following Setup ↘️Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. USDCAD has been overall bearish trading inside the falling channel in red, however it is currently approaching around the upper trendline. Moreover, the zone 1.365 is a strong resistance. 🏹 So the highlighted red circle is a strong area to look for sell setups as it is the intersection of the blue resistance and upper red trendline. As per my trading style: As USDCAD approaches the red circle zone, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...) 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
6
USDCAD, H4 | Potential Bearish Reversal Price is approaching a multi-swing high resistance level, and it aligns with the 50% Fibonacci Retracement level, which could cause price to reverse from here to our take profit target. Entry: 1.3385 Why we like it: There is a 50% Fibonacci Retracement and a multi-swing high resistance. Stop Loss: 1.3446 Why we like it: There is a pullback resistance. Take Profit: 1.3300 Why we like it: Pullback support and a 38.2% Fibonacci Retracement. Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Short
by VantageMarkets
USDCAD - Trend-Following Setup ↘️Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. USDCAD has been overall bearish trading inside the falling channel in red, however it is currently approaching around the upper trendline. Moreover, the zone 1.345 is a supply zone. 🏹 So the highlighted red circle is a strong area to look for sell setups as it is the intersection of the blue supply and upper red trendline. As per my trading style: As USDCAD approaches the red circle zone, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...) 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
7
USDCAD Sell opportunity arising a little higher.USDCAD is trading inside a Channel Down pattern for nearly 5 months. The price is currently on the 1day MA50 for the first time since July 7th and second since June 1st. Obviously a strong Resistance. The technical rejection zone however lies a little higher inside the range consisting of the 1.33845 Resistance (previous High) and the 0.618 Fibonacci level (1.34340). This is where the last Lower High was rejected. The 1day RSI is already near its own Resistance, same as the May 25th Lower High rejection. As a result, starting to sell when it touches it and scale sells up until the 0.618 Fibonacci, is a valid approach. Target Support A at 1.30950 and after a rebound, Support B at 1.29555 for a technical Lower Low. Previous chart: Follow us, like the idea and leave a comment below!!
Short
by TheCryptagon
6