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Usdcadlong

USDCAD Study Case 🧙‍♂️Intuition suggests price is likely to flow back up to the main weekly supply to clear out seller liquidity. How we will get to that zone is another story. I don't think we will push up to the zone from here. I believe price has lured buyers in after breaking the trendline marked. So price is likely to do some manipulation to clear breakout buyers before flowing to our target. I have done a rough illustration of what I am after but we will have to judge it as the price progresses. I am wishing you all a fantastic trading week team!
Long
by AlkalineFX
9
USDCAD H4: Bullish outlook seen, further upside above 1.3580On the H4 timeframe, prices are testing a key resistance-turned-support zone at 1.3580, in line with the 23.6% Fibonacci retracement. A throwback to this zone could present the opportunity to ride the bounce to the resistance zone at 1.3680, which coincides with the 38.2% Fibonacci extension. Stochastic RSI is in the oversold region below 20, prices are holding above the 50 EMA and Ichimoku cloud, while ADX is above 25, supporting our bullish bias.
Long
by T3-Consultancy
USDCAD After the break of the triangle, we can now expect two targets in the ranges of 1.37496 and 1.38591. Before that, we must be careful that we have the range of 1.36995, the static resistance of the pattern, which must be broken. After that, it is very easy to reach the first target, but to reach the second target, we have 2 resistances based on the pivot points in the ranges of 1.37810 and 1.38185, which can be a reason to build a resistance range between the two harmonic targets. .
by maryammh
4
Loonie Dollar possibly aiming highAlright guys, USDCAD might be heading high, here are my reasons to expect further deterioration of CAD against USD: 1- Inverted head and shoulders pattern spotted 2- We have been long inside the falling wedge (The ABCD triangle) and we are on the brink of breaking out, although we need a daily closing price outside the upper border of the triangle 3- Let's just say that Canada felt the recession worse than USA did When to buy USDCAD? I will say it again, wait for the price to break out of the wedge however, we have one confirmation from the head and shoulders but it would be great if we just have another. What are the targets? Look at the white horizontal lines, lower one must break to pave way for the higher white line Best of luck and happy trading :-)
Long
by Uzi-Trades-Forex
4