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Usdcadidea

UsdCad- Nice trade with great R:RIn June 2021, UsdCad has changed the trend, breaking above the descending trend line and reaching a high around 1.3 important resistance. Since then, the pair was very volatile with large up and downswings. In December, UsdCad has had a new attempt to conquer 1.3 and failed again, dopping slightly under 1.25 However, this low is higher in rapport with the previous 2 and can be an indication of continuation to the upside. More, 1.25 zone is market by 3 bullish pin bars and it is clear that we have buying power in this zone. In concl;usion, dips against 1.25 should be bought and swing traders can target 1.3 resistance. A dive under the recent low would negate this scenario. Best of luck trading UsdCad Mihai Iacob
Long
by Mihai_Iacob
8
There's a possibility of USDCAD going lower this weekUSDCAD has bounced up from the diagonal support of the rising channel on Friday. Within the channel I see a head and shoulders pattern on lower timeframe. There's a possibility that USDCAD will fall the coming week. I am interested in seeing price testing the broken neckline of the head and shoulders and see if there will be some sort of rejections around the area for a possible short position. If it does fall, I will target 1.23211. Please support my ideas with likes if you find this helpful. Thanks
Short
by Forexintelligence_NA
2
USDCAD: Daily Price-Action Analysis, Long! See Description. On the Monthly timeframe, Price has seen test at 1.20483, a VERY Important Price for Long-term POTENTIAL Targets 1.79550 | 1.59368. Hmmm! Test at 1.20483 has sent Price to Caption zone 1.25110 | 1.27834. Inside Caption-zone is Price 1.26210 that gives price 1.34621 potential for upside test. Understanding the Caption-Zone: Successful upside breach of 1.27834 is clear setup for Test at 1.33083 for further advance or decline. As is, price is trading above %50 of most recent Lo-Hi Swings-- Meaning Bulls have upper-hand and potential to drive price outside 1.25110 | 1.27834 Caption-zone into Target 1.33083 Other Targets will include: 1.31714 | 1.31897 | 1.35313 | 1.35552 Looking at Daily Time-frame: Price is trading above two Caption-zones: 1.24079 | 1.25391 and 1.24526 | 1.25474 Meaning: There's a chance for (Pass or Decline) TEST at 1.26186. Secondary Tests await at 1.27302 | 1.27832 zone prior to zoned Target 1.33083. Note: Idea is to complement your research. Check comments section for future updates on idea. Like this idea? Like, Share, Comment, Follow, (...) Thank you. Happy Trading.
Long
by legacyliked