USDCAD still bearish to expect
Hi viewers, USDCAD still strong bearish expectations for next week
TP1: 1.33300 (80)
TP2: 1.32900 (120)
TP2: 1.32600 (150)
Usd-cad
USDCAD, long, around 100 pipsI expect increases around 1.35700.
About 100 pips up for grabs
GG
P.S.
This is not financial advice of course, just my idea.
USDCAD Potential for Bullish Rise| 20th January 2023Looking at the H4 chart , my overall bias for USDCAD is bullish due to the current price crossing above the Ichimoku cloud , indicating a bullish market structure.
Looking for a pullback buy entry at 1.34356, where the overlap support and 50% Fibonacci line is. Stop loss will be at 1.33214, where the recent swing low is. Take profit will be at 1.36645, where the previous swing high is.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
USDCAD Potential for Bullish ContinuationLooking at the H4 chart, my overall bias for USDCAD is bullish due to the current price crossing above the Ichimoku cloud, indicating a bullish market structure. Looking for a pullback buy entry at 1.34356, where the overlap support is. Stop loss will be at 1.33214, where the recent swing low is. Take profit will be at 1.36645, where the previous swing high is.
USDCAD Potential for Bullish Continuation Looking at the H4 chart, my overall bias for USDCAD is bullish due to the current price crossing above the Ichimoku cloud, indicating a bullish market structure. Looking for a pullback buy entry at 1.34356, where the overlap support is. Stop loss will be at 1.33214, where the recent swing low is. Take profit will be at 1.36645, where the previous swing high is.
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.
USDCAD Potential for Bullish Rise| 19th January 2023Looking at the H4 chart , my overall bias for USDCAD is bullish due to the current price crossing above the Ichimoku cloud , indicating a bullish market structure.
Looking for a pullback buy entry at 1.34356, where the overlap support and 50% Fibonacci line is. Stop loss will be at 1.33214, where the recent swing low is. Take profit will be at 1.36645, where the previous swing high is.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
USDCAD:Short term USD strength but long term USD should weakenHey traders, in today's trading session we are monitoring USDCAD for a selling opportunity around 1.362 zone, once we will receive any bearish confirmation the trade will be executed.
Trade safe. Joe.
USD/CAD:SELL From Bearish Channel For A New Push-Down SHORTThe USD/CAD pair attracts some sellers following an early uptick to the 1.3410 area dips into negative territory for the second straight day on Wednesday. The pair is currently placed near the daily low, around the 1.3370 region, and looks to extend the previous day's pullback from the weekly top.
The price is still inside a Bearish channel in a strong downtrend and our Idea is about a push-down in the direction of the main trend.
USDCAD for a possible bounceAfter price pushed up aggressively and breaking structure, it left behind a huge imbalance with a clean POI. It then began to move sideways, engineering liquidity at both the top and the bottom. Now it's looking to use liquidity at the bottom to fuel its move to the upside to take out liquidity at the top too.
USD/CAD - SHORT SCENARIOS - ANALYSE – WThe "USDCAD" is in an uptrend since May – 2021, and it stands to reason that we can expect a top soon if necessary.
-> The USD is the base currency of the pair and should, shortly, enter a correction.
-> At which key areas we can expect a Local Top, I will analyze in more detail in today's post.
-> For this, we will look at the "USDCAD" from the weekly view and integrate elements of the daily, weekly and monthly charts.
table of contents
- 1st part = EXPLANATION - Used indicators + levels
- 2nd part = SCENARIOS - pro + con breakdown
- 3rd part = CONCLUSION
FIRST PART
1. | FIBONACCI RETRACEMENT |
For this Fibonacci retracement, we take the movement,
which started in - March/2020 - and ended in - May/2021 -.
-> 0.75 FIB = 1.40031 points | Pending processing
-> 0.786 FIB = 1.40989 points | Pending processing
-> 0.88 FIB = 1.43491 points | Pending processing
> As "BLUE" lines - drawn in the chart.
2. | FIBONACCI RETRACEMENT |
For this Fibonacci retracement, we take the move,
which started in - July/2022 - and ended in - August/2022 -.
-> 2.618 FIB = 1.40258 points | Pending processing
> As "PASTELL ORANGE" lines - drawn in the chart.
3. | SUPPLY ZONES |
The supply zones formed at the beginning of the downward movement,
thus they were created and in - March-May/2020.
-> MONTH ZONE = 1.38502 - 1.46685 points | Pending processing
-> WEEK ZONE = 1.38502 - 1.41409 points | Pending processing
-> DAY ZONE | 1 | = 1.39686- 1.40488 points | Pending processing
-> DAY ZONE | 2 | = 1,43750- 1,46685 points | Pending processing
> As "GREY" areas - drawn in the chart.
4. | POINT OF INTEREST |
The points of psychological interest,
were created the first time - in 2003 - and showed some reactions since then.
-> POI | 1 | = 1.38500 points | Pending processing
-> POI | 2 | = 1,40000 points | Pending processing
-> POI | 3 | = 1.41000 points | Pending processing
-> POI | 4 | = 1,46500 points | Pending processing
| POI should be used as resistance in the upcoming situation.
| POI is used as ZONE -> no point exact resistance.
> As "TURKIS" line - drawn in the chart.
5. | VOLUME PROFILE |
The volume profile describes the cumulative trading volume at each price level. In the analysis, the volume of the last "TOP" formation was analyzed.
-> VOLUME ZONE = 1.40100 - 1.41100 points | Pending processing
-> POC = 1.40500 - 1.40700 points | Pending processing
| Point of Control - The price level with the highest traded volume.
5. | OLD MARKET STRUCTURE BREAK |
The old market structure break, represents a psychological level because it was the decisive point in the last corrective move.
| MSB = 1.38502 points | Pending processing
PART TWO
Once the price reaches the broken down levels, we can expect a reaction from the market, which depends on the "weighting" of each level.
PLEASE NOTE - the USD is the base currency of the USD/CAD, so we are 100% dependent on the performance of the DXY.
1. | SCENARIO | TOP - at approx. 1.38500 points (Unlikely)
What speaks for this?
- "OLD MARKET STRUCTURE BREAK"
- "SUPPLY ZONES | W1 + M1"
- "POI (1)
+ this idea must be supported by the DXY!
What is against it?
- "VOLUME PROFILE" = little traded volume.
- "FIBONACCI" = between 0.618 - 0.75 FIB
- "USD (DXY)" = further appreciation.
2nd | SCENARIO | TOP - at approx. 1.40000 - 1.41000 points (Very likely)
What speaks in favor of this?
- "FIBONACCI RETRACEMENT (1) | 0.75 + 0.786 FIB"
- "FIBONACCI RETRACEMENT (2) | 2.618 FIB"
- "SUPPLY ZONES | W1 + M1 + D1 (1)"
- "POINT OF INTEREST (2) + (3)
- "VOLUME ZONE
- "POC
+ this idea must be supported by the DXY!
What is the argument against it?
- "FIBONACCI" = 0.88 FIB
- "SUPPLY ZONE" = D1 (2) liquidity
- "USD (DXY)" = further appreciation.
3. | SCENARIO | TOP - at approx. 1.43500 points (Unlikely)
What speaks in favor of this?
- "FIBONACCI RETRACEMENT (1) | 0.88 FIB"
- "SUPPLY ZONES | D1 (2)"
+ this idea must be supported by the DXY!
What is the argument against it?
- "USD (DXY)" = further appreciation.
CONCLUSION
It is impossible to say at this time what the exact scenario for "USDCAD" will be.
= Despite this, the key points I have presented, will most likely trigger a reaction.
-> As soon as the TOP formation emerges, I will upload a detailed SHORT execution.
-> Feel free to discuss it in the comments and share our perspectives, I'd be "burning" to hear your take on the whole thing.
If this idea and explanation has added value to you, I would be very happy to receive a review.
Thank you and happy trading!
USD/CAD:SELL Scenario Following Primary Trend SHORT SetupThe USD/CAD pair struggles to capitalize on Friday's bounce from the 1.3320 area or its lowest level since November 25.
We can summarize that USD/CAD is in a strong downtrend inside a compression area where the price may follow the primary trend and continue at a bearish rally. We are looking for a Bearish setup.
USDCAD Potential For Bearish ContinuationLooking at the H4 chart, my overall bias for USDCAD is bearish due to the current price being below the Ichimoku cloud, indicating a bearish market. Looking for a sell entry at 1.34841, where the 50% Fibonacci line is. Stop loss will be at 1.36646, where the previous swing high is. Take profit will be at 1.32258, where the previous swing low is.
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.
USDCAD Potential UpsidesHey traders, in tomorrow's trading session we are monitoring USDCAD for a buying opportunity around 1.326 zone, once we will receive any bullish confirmation the trade will be executed.
Trade safe, Joe.
USDCAD Hello Traders, here is the full analysis on USDCAD , let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. Kindly tap on like and follow button l.. Please also refer to the Important Risk Management
Usdcad Sell Short term Hi All,
We opening a sell on Usdcad, as you can see we are still very much inside a sort of bullish flag, however with the weakness of $ and the break of support, which is now turned resistance couple with the bearish engulfing candle we are anticipating a further drop to 1.32 X and then 1.30 XX.
Entry, Sl, TP marked.
Please follow, like, share and comment.
Many Thanks
🍁 USD/CAD Correction Before Fall? 🍁🍁 USD/CAD Correction Before Fall?
🍁 Nearest strong support zone: around the 0.786 level of the upward wave.
🍁 Nearest strong resistance zone: the 0.618 level of the upward wave.
🍁 Technical environment:
- Moving averages: Downtrend
- MACD: Uptrend
- RSI: Uptrend (Divergence).
- Supertrend: Downtrend
🍁 Price action: USD/CAD It has reached a key point on the chart we have again attacked the levels of 1.336 where we landed after the last downward wave, looking at the medium-term pro-growth bias of the dollar and the long-term uptrend on the Canadian dollar, I expect a retest of the area around the 0.618 level of the upward wave before continuing the decline.
🍁 The scenario I'm playing out is to execute an upward correction before continuing the declines. I don't exclude the possibility of changing the scenario if the market situation changes abruptly. I'm aware of the possibility of a correction at any time, this should be taken into account, If the outlook changes I will publish a post with an update, so I encourage you to actively follow the profile and read the description carefully.
🍁 Please do not suggest the path I have outlined with lines it is only a hypothetical scenario.
🚀 If you appreciate my work and effort put into this post then I encourage you to leave a like and give a follow on my profile. 🚀
1/11/23 Game PlanGame Plan:
:::Never enter before 9:00 am EST::::
1) Short at retest of 78% (1.34541) or rejection of 61% (1.34354)
2) Short at break & retest of 1.3366
3) Long at break & retest of 1.3478
USDCAD Potential For Bearish ContinuationLooking at the H4 chart, my overall bias for USDCAD is bearish due to the current price being below the Ichimoku cloud , indicating a bearish market. Looking for a pullback sell entry at 1.34843, where the previous swing low is. Stop loss will be at 1.36647, where the recent swing high is. Take profit will be at 1.33166, where the 78.6% Fibonacci line is.
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.
USDCAD Potential UpsidesHey traders, in today's trading session we are monitoring USDCAD for a buying opportunity around 1.33250 zone, once we will receive any bullish confirmation the trade will be executed.
Trade safe, Joe.
USDCAD Potential For Bearish ContinuationLooking at the H4 chart, my overall bias for USDCAD is bearish due to the current price being below the Ichimoku cloud, indicating a bearish market. Looking for a pullback sell entry at 1.34843, where the previous swing low is. Stop loss will be at 1.36647, where the recent swing high is. Take profit will be at 1.33166, where the 78.6% Fibonacci line is.
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.
🍁USD/CAD Attention We're Falling 🍁🍁 USD/CAD Attention We're Falling
🍁 Nearest strong support zone: around 1.337, 0.382 fibo level of the entire upward wave.
🍁 Nearest strong resistance zone: around 1.36, 0.236 fibo level of the entire upward wave.
🍁 Technical environment:
- Moving averages: Downtrend
- MACD: Downtrend
- RSI: Downtrend
🍁 Price action: USD/CAD for the past month has not found the strength to continue the upward movement, contributed by a sharp capital inflow into the Canadian dollar and a flight from the US dollar. What caused such sharp movements in recent days. Looking at the candlestick formation in which the price, after an upward breakout, accumulates slowly curling southward, the continuation of growth in this case seems very unlikely. It looks like the road to a coy strong wave of declines has opened before us.
🍁 The scenario I'm playing out is a continuation of declines given all the support zones that lie ahead. I don't exclude the possibility of changing the scenario if the market situation changes abruptly. I'm aware of the possibility of a correction at any time, this should be taken into account, If the outlook changes I will publish a post with an update, so I encourage you to actively follow the profile and read the description carefully.
🚀If you appreciate my work and effort put into this post then I encourage you to leave a like and give a follow on my profile.🚀
USDCAD: Buy the dip strategy in short termHi everyone!
From a technical point of view on main time frame the trend still remains bearish, but at the same time we think that USD/CAD pair could trigger a bullish consolidation on one hour chart, let's look at what will happen in the next few hours and if the conditions are met, we will publish also some updates on intrady chart.
Technically speaking, our strategy is simple: "Buy the dip"!
Thanks for your support, Like & Comments and I hope to be helpful! 💖
Trade with care!
Anonymous Trader
USDCAD Potential UpsidesHey traders, in today's trading session we are monitoring USDCAD for a buying opportunity around 1.34400 zone, once we will receive any bullish confirmation the trade will be executed.
Trade Safe, Joe.
