USDCAD Long OppurtunityAccording to my idea the Resistance and support lines in the green are strong . The price has broken out from the previous resistance and also retested the line and now revered and headed bullish on a 4hr chart.
There is an opportunity for a BUY trade 1.31654 with a take profit at 1.32541.
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
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Disclaimer
It’s not a financial advice. Do the analyze and take a decision.
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.
USDCAD - SWING - 03. SEPT. 2020Welcome to our weekly trade setup ( USDCAD )!
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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.
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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!)
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Have a great week everyone!
ALAN
USD/CAD Technical Analysis
The counter has been trading with a bearish bias for long.
The down move can be plotted with a pitchfork and the pair is making its last leg of the move down.
Hence, we advise traders to go long at the lower parallel.
And the upswing has a great chance to break the upper end of the range.
USDCAD to climb from upside confirmation, potential bounce!
USDCAD to climb from its upside confirmation at 1.33646 where it could potentially bounce further to 1.33646.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
USDCAD / BUY We can see in the chart price failed to break through support and was pushed to its next support level where it fell through.
I am waiting for price to break through the area before buying to my initial target
We can also look for an additional buy opportunity at the previous support (now resistance) level
USDCAD, 4hr timeframe, inverted shoulders head patternHello my friend,
Today i spotted a nice buy setup on USDCAD pair. There is a bullish divergence on daily timframe and a nice inside bar pattern so i am looking into 4hr timeframe to time my entry.
Surprisingly, there is an inverted shoulders head pattern forming and i think we are going to see price broken above the neckline soon.
Buy USDCAD 1.3420-30
Stop loss 1.3360
Take profit 1 @1.3480
Take profit 2 @1.3540
Good Luck
Disclaimer: I am opening buy position since 1.3420
USDCAD ANALYSIS we have two positions here,(NOT FOR SMALL ACCOUNTS, UNLESS YOU HAVE ELEPHANT BALLS) double bottom on the DAILY Time Frame (SWING) +500 PIPS TP and -150 Pips SL
Multiple Rejections of my support Level and a huge rejection of my FIB Gold zone. +200 PIPS TP and -64 Pips SL
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Long $USDCAD above 1.3300Hello Sophisticated Trader,
Our last analysis was over 300+ in gains, now the USDCAD has found some support and is due for a bounce. Currently, closing back above1.3400 suggests a potential test of 1.3500 and a potential test of 1.3700, oversold conditions also support this and only a close below 1.3330 would negate this bounce.
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Dr. Lydia Smith
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