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Usdcadidea

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
USDCAD | Technical Analysis | Good Buy Opportunity If you find this technical analysis useful, please like & share our ideas with the community. Coming to the technical analysis of USDCAD, I think we are going to see an upward movement. If you are going to go long now, make sure to place the stop below the previous support area . What do you think is more likely to happen? Please share your thoughts in comment section. And also give a thumbs up if you find this idea helpful. Any feedback & suggestions would help in further improving the analysis. Good Luck! Disclaimer! This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
Long
by MaxProfHacker