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USD/CAD

USD/CAD Reverse Head and Shoulders! Let's go to buy!I believe that we have finally reached the end of this long uptrend, and ending this accumulation phase with the explosion of the Head and Shoulder Pattern, reaching 1.29037 if we count the breakout from the current point, or a little lower if the Throwback occurs. In any case, the hypothetical final achievement (if fundamental analysis does not bring about worrying news) will be about 1.31008. Stay up to date Credo che finalmente siamo arrivati al termine di questo lungo trend rialzista, e terminando questa fase di accumulo con l'esplosione del Pattern Testa e spalla, raggiungendo 1.29037 se contiamo il breakout dal punto attuale, o poco più giù se avverrùà il Throwback. In tutti i modi, il raggiungimento ipotetico finale (se l'analisi fondamentale non determina notizie preoccupanti) riguarderà il 1.31008. Restate aggiornati ****** They are not financial advice but just personal ideas ******
Long
by selvaoscuras
USD/CAD Long 2 to 1 risk reward based on price actionLooking at this chart it seems the price wants to bounce in between the support and resistance levels of the lower timeframe, the upcoming support line in combination with the RSI indicator almost crossing the oversold line (it likely will have passed it once at the entry level) a long position can be taken at the lower level support line. In order to give the trade some breathing room the s/l is placed below the support line from the higher time frame. it is possible for the price to not hit the entry level target and therefore i recommend you set an expiration date for the entry of the trade at around the 19th of feb The t/p is placed at the resistance level of the lower timeframe since this target is most likely to be hit in a timely manner. You could also set a second t/p at the larger timeframe resistance level. Like this idea? www.mql5.com check out my perfomance here.
Long
by Martijndv
USD/CAD Short Immediately?Good day snipers. I have been monitoring this trade in the past week and looks like price has rejected the resistance zone again with that bearish engulfing candle on the 4H. It also has been rejecting the 23.6 fib level retracement several times now and an overall downtrend on the 4H and 8H time frames. Stop Loss would be just above that resistance and fib level. Decent 2:1 risk:reward ratio where the take profit level would be on the strong support zone . Follow me on tradingview for more ideas and sniper entries. If you liked this idea please click that thumb's up. Ideas posted are not financial advise, but merely just to give insights and education for traders. Past performances do not determine future gains. As sniper traders, we tread carefully, then we take shots immediately. Join the discussion down below
Short
by SniperFXFree
7
USD/CAD Bearish trend would continue? USD/CAD is clearly in the bearish trend last week. The issue here is that how many times the price will retest this level of support? Double bottom or even triple? Or it could break up and continue to fill up the gap down? 1. Well-respected the bearish trendy line and EMA 20/25, lower high and lower low? 2. Gap down is nearly filled up? 3. This level is critical for demand side, therefore it should be more than two retested price actions at this support level. Therefore, it would not be surprised to see that price will move between the EMA20/25 (bearish trendy line) and its current support level of 1.3488 - 1.3422. 4. MACD 4h is about to revert back to the bearish trend, red zone. 5. USD/CAD should retest the EMA 200 Weekly (1.29566 - 1.32888) on my viewpoint, because this zone is a ''highly demanded'' area and it have not tested this level yet since Dec 2019. Remember that during 2017 - 2019, price action of this pair is well respected this level of support and it would be considered as a fair price or fair value to maintain the balance on this pair. Bearish Bias: Unless price could break the bearish trendy line and move up Higher higher and Lower higher above the EMA 20/25, there will be no BUY or otherwise Bullish confirmation. It could break the support towards lower level of support (around EMA 200 weekly zone 1.3088-1.3222). Cheers and thank you for any supporting comments.
Short
by JokerVN30
USD/CAD reversal pattern suggests taking a short position.USD/CAD reversal pattern suggests taking a short position. TECHNICAL ANALYSIS: The USD/CAD has formed and a head and shoulders pattern, indicating an imminent trend reversal. This is after the price formed an uptrend last week. Furthermore, the price hovered around the downwards trend line but did not fully breakout - showing a greater confirmation of a downtrend appearing. Enter when your indicators line up or the market price crosses below the neckline. FUNDAMENTAL ANALYSIS: US are releasing retail sales later today (forecasted at 8% growth from -16.4%). Although, the economy is still in a dire state with a recession looming. Therefore it is unlikely the Fed will considerably adjust rates yet. Canada's inflation rate is released tomorrow. Predictions are up from 1.2% to 1.4%, still in Canada's target of 1-3%. Though as it is closer to the lower bound the Bank of Canada is unlikely to remove dovish pressures.
Short
by harryspencer