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Usdcadbuy

USDCAD inverted head and shoulders pattern has formed in H1USDCAD After reaching the 1.30000 Mark this pair has rejected the downtrend and gone bullish up to 1.31600 At this level the inverted head and shoulders are formed which is a clear sign of bullish correction The price has broken the right side shoulders and stalled at 1.31600 which acted as a resistance for the bull. 1.31500 is a confluence zone which is also a price action level. And trend reversal area. In Elliott wave analysis the second wave is completed and the third wave is in formation stage. And the 100,200 exponential moving average is also acting as a major resistance for the bull. Currently the price is trading below the 1.31000 level. Buying order may place at this level and the potential take profit will be 1.32600. Stop lose may place below the 1.30000 level. In this week we are expecting the bank of Canada will hold the rate and will take a dovish stance which will weaken the loonie. And in previous week the oil was felled very much this will also Influence the price action of Canadian dollar Please give us a thumbs up if u like our work and do follow us so that you can get a regular update about upcoming setups and ideas Disclaimer It’s not a financial advice. Do the analyze and take a decision.
Long
by forexorbit
5
USDCAD is in bullish correctionUSDCAD The recent downward rally is stalled at 1.31370 which is a acted as a recent support for the bullish But in longer picture overall trend is remain bearish with the target of 1.28000 in a longer run 1.3277 is a near-term resistance to the bull which is a 23.6% Fibonacci retracement level And above that 1.33610 is a 38.2% Fibonacci retracement level is another key level to watch. At this level we may expect a 200 Exponential moving average resistance too. For swing traders the expected profit taking level is 1.34500 which is a 50% Fibonacci retracement level Above that level we had a downward trend line resistance Suitable buy orders may placed at 1.32000 which is one of the Psychological level Potential take profit will be 1.33000 Stop lose may placed below the 1.30500 level On writing this idea RSI is just crossed the 50 midpoint in four Hour chart.
Long
by forexorbit
USDCAD - SWING - 03. SEPT. 2020Welcome to our weekly trade setup ( USDCAD )! - 1 HOUR Very bullish price action above main sr level. 4 HOUR Overall bullish shortterm/midterm trend, good long entries! DAILY Expecting prices to push up towards previous highs. - FOREX SWING BUY USDCAD ENTRY LEVEL @ 1.31210 SL @ 1.30570 TP @ 1.32170 Max Risk. 0.5% - 1%! (Remember to add a few pips to all levels - different Brokers!) Leave us a comment or like to keep our content for free and alive. Have a great week everyone! ALAN
Long
by DACapitalTrading
30