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Usdcadnews

USDCAD Analysis: Bullish Chart Pattern Conclusion for today’s USDCAD analysis: Eventual breakout from the bullish channel indicates the direction of the next price swing in the USDCAD. USD CAD chart examined today is the Daily timeframe, with coverage of over 18 months of price action. The current price swing that is the focus of this analysis is from September 12, 2017 to current date. One of the major use of chart patterns is to help provide context for price action. Besides, they are very useful for price projections and help estimate the minimum expectation(s) for price action upon breakout and confirmation.A bullish price channel is used in this case to help put price action in the USDCAD in perspective. Ellipses drawn on the chart show price pivots used in establishing the chart pattern. The width of the chart pattern is also indicated and can be projected onto the breakout point out of the chart pattern for minimum estimation of movement of the USDCAD. A symmetrical triangle is also shown on the USD CAD chart, with eventual breakout confirming the pattern and favoring the next direction of price swing in the USD CAD.
by Coin_Analyst
UCAD Time to decideUSDCAD made a good progression till it showed us Head and Shoulders formation till MAY and it touched its Fibbo %61.8 band. And touched trough 1.25 band and its one of the MAJOR Resistances for USDCAD. It will show us where to go now. 1st it can test the trend line which tried couple times before and rejected. It might see 1.2440band as we see fibbo %-27 band. 2nd idea about it takes long term position. USDCAD might test trend and breaks down first. After its bounce it might change its way to long and test fibbo 0 band where it came before 1.2640 band.
by mert.kucukengin
USDCAD dropping perfectly, remain bearishSell below 1.3482. Stop loss at 1.3543. Take profit at 1.3387. Reason for the trading strategy (technically): Price continues to drop perfectly towards our profit target and has made a nice bearish exit signalling that a change in momentum is expected. We remain bearish looking to sell below 1.3482 resistance (Fibonacci retracement, pullback resistance, swing high resistance) for a further push down to 1.3387 support (Fibonacci extension, horizontal swing low support, Elliott wave theory). RSI (55,5,3) is seeing strong resistance below the 55% level where we expect to see further bearish movement. We also see a recent bearish exit signalling that a change in momentum to bearish is expected.
Short
by MEX_Exchange
USDCAD remain bearish below major resistanceSell below 1.3540. Stop loss at 1.3595. Take profit at 1.3431. Reason for the trading strategy (technically): Price is seeing major resistance below 1.3540 (Fibonacci retracement, Fibonacci extension, horizontal swing high resistance, Elliott wave theory) and we expect to see further bearish movement below this level to at least 1.3431 support (Fibonacci retracement, horizontal swing low support). RSI (55,5,3) is seeing strong resistance below the 55% level where we expect to see further bearish movement.
Short
by MEX_Exchange
USDCAD Weekly View: Remain bearishSell below 1.3180. Stop loss at 1.3600. Take profit at 1.2500. Reason for the trading strategy: We remain bearish below 1.3180 resistance (Fibonacci retracement, bearish pullback) especially with the break of our long term ascending-turned-resistance line signalling a bearish exit to be seen for a drop towards at least 1.2500 support (major swing low support, Fibonacci projection). MACD has broken a key support-turned-resistance line signalling a drop is expected.
Short
by theforexarmy