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Usdcadbuy

usdcad diamond breakout soon.UsdCad has been in a diamond price formation and due for a breakout soon. Since USD is very bullish recently, I predict a bullish breakout and retest on the diamond structure.. then resume the price channel created in the diamond structure. This is a daily time frame so you will have to use a lover time frame for a buy entry. But it is sitting on a strong support now so there is a very good opportunity. *I only try to identify chart patterns, it's up to you to make your decisions whether to buy or sell. Good luck to everyone. Follow me for more patterns early
Long
by pipo99
USDCAD breaking out?Until farther evidence surfaces, our bias is towards the price continuing to range in the channel we drew. THis means that price will continue to move down. However, it's been in this channel for quite some time and may break out soon, in that event we want to trade the break out as it brings us bigger price movements. BEAR CASE If you want to short here, give it a generous stop loss and check the price action at 1.255 (bottom of the channel), if it breaks down, take the trade. BULL CASE If it breaks the top of the band, 1.275 is our target.
Short
by IkanBilisCapital
Is the channel going to hold for the USDCAD?The dollar cad tested the bottom of the channel like we predicted and moved up higher, it has now tested the top of the channel and faced some rejection, are we going to see a break out? BEAR CASE Until proven otherwise, our bias is to the downside. We expect to see it test the bottom of the channel once more and if it faces rejection there or before there, we know a major upmove is coming for this pair. BULL CASE If a breakout happens, we're targeting 127 to put up some resistance.
by IkanBilisCapital
UsdCad- Great R:R medium term tradeUndoubtedly, since mid-March, CAD has dominated the market, and with USD has strengthened more than 2500 pips, reaching a local low at 1.2 at the end of May. A first leg of correction has followed and a new drop after this. However, this new drop has found bids in 1.23 zone and we have 2 Doji candles on our weekly chart that can signal a higher low is in place. I expect a new leg up from UsdCad and the price could reach and test 1.3 resistance. Such trade can have a 1:5 risk to reward ratio and is negated with a daily close under the last recent low
Long
by Mihai_Iacob
8
USDCAD more downside coming!The dollar cad traded is largely range bound this week. The coming week should see a break of trend to either side but our bias is to the downside as structurally on the longer term charts, it looks bearish. BEAR CASE If bears find conviction, we should see a retest of 1.2 before some consolidation and more downside. BULL CASE As we enter the first week of November, do not be surprised to see price retest 1.25 before the bear case is fulfilled.
Short
by IkanBilisCapital