USD/CAD LONG or SHORT ??Most the analyst expecting the price to fall, however, it moved up and also Non-Manufacturing Index did not make the price to fall.
Let's see today NPF data could turn the table around
Usdcadsetup
USDCAD- Short term uptrend before going down.Based on the wave theory, I believe there will be another 5th wave impulse before we see a continues downtrend to complete the major C wave.
In this regard, we may expect a short term uptrend as the market wait for good news to take the risk out of their trade. As long as there is no clear direction between US-CHINA
trade war, Bombing in Saudi and other Geo-Political issues, the investors might hold the USD as a risk creeps in the market.
If you have comments regarding my chart, write it down in the comments below.
Buying USD/CADBUY LIMIT - Pending Order
Buying USD/CAD
Entry: 1.3266
Target: 1.3320(54+ pips)
SL: 1.3213 (53- pips)
Risk Reward 1
ANALYSIS SUGGESTS A FURTHER DOWNSIDE ON USDCADIn the chart above, we could see the price breakout of a w-x-y-x-z corrective structure trendline and made an impulsive move to the downside.
According to Elliot Wave theory, a three-wave correction in the opposite direction follows every impulsive move after which price resumes in the direction of the impulsive.
In USDCAD's case, it seems to unfold as a w-x-y double zigzag corrective pattern in wave ii, and the price has the potential to resume lower in wave iii and extends to 1.618% of wave i.
Tuesday's daily price action also close as a long tail pin bar from a resistance level; this also further validate the potential weakness in the days ahead.
Minor and main invalidation levels are indicated on the chart. If price trade above the minor level, it means that the corrective structure is not yet completed and the short bias is still valid.
However, movement above the main invalidation level ruined the entire setup and invalidated the bearish outlook.
Thanks for reading!
START OF THE WEEK (9 Sep - 13 Sep 2019) GUIDE | DOWN!See chart for illustration.
This is a follow up ( see link below for reference purposes)
USDCAD - EDUCATION - 08. SEPT. 2019Welcome to our weekly market Breakdown ( USDCAD )!
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1 HOUR
Very bearish price action and pressure.
4 HOUR
Breaking several lows and bullish price action.
DAILY
Market in pullback phase, good long entries shortly!
OVERALL
Expecting prices to form new weekly lows on monday-tuesday and head back
to average price action forming new wave highs or 50-61.8% Pullback of previous x-a wave.
Will update you as soon as we have some clearer information.
Good luck
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Leave us a comment or like to keep our content for free and alive.
Have a great week everyone!
ALAN
START OF THE WEEK (26 Aug - 30 Aug 2019) GUIDE | USDCADSee chart for illustration
This is a follow up from earlier publication on subject pair (see link below)
USDCAD LONG TERM SPECULATION | SHORT!It appears price is gaining momentum in anticipation of a rally to the downside from 1.33500 zone since it has found it difficult to break this area in the last 2 weeks.
Considering the present volatility in the USD currency, patience is pertinent as the price could break the 1.33500 zone up into the 1.5500 zone before the rally down.
However, price action monitoring is decisive here.
Lower time frame speculation coming up soon
USDCAD - EDUCATION - 25. AUGU. 2019Welcome to our weekly market Breakdown (USDCAD)!
1 HOUR
Sideways waving market structure.
4 HOUR
Slowly rising market with several pullbacks and low pressure.
DAILY
Bullish market found its resistance in my opinion.
OVERALL
Two very likely scenarios in usdcad this week, depending on price action on monday
prices should fake a breakout either to the upside or below previous week support zone.
I will update you about everything, be patient :)
Good luck
-
Leave us a comment or like to keep our content for free and alive.
Have a great week everyone!
ALAN
USDCAD: Bullish Trend ContinuationAs described in the chart, USDCAD has bounced from the 4H EMA and expected to continue the bullish trend.
USDCAD 4H Potential Bearish MovementHi everyone this is what I saw at the moment. Stop Loss around 30-40 pips from Entry in the yellow zone. TAYOR!
TAKE NOTE- ANALYSIS ON USDCADFREE ANALYSIS ON USDCAD
Welcome to SiriusTrading (managed by Segunby), Check out my Free analysis on Forex and Crypto. Follow me for regular Analysis and don't forget to LIKE, LIKE, LIIIKKKEEE :)
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4 HOUR
USDCAD is making a pull back to the previous support level (now turned resistance) on the trend-line break at 1.33000, which is also a nice psychological level.
Things to consider:
1. Watch out out for the Zones as prices dropping below them will give signal for more downward move.
2. On the DAILY chart price is testing the 200MA level, this could confirm the downward continuation.
3. Watch out for the breaks in the trend line for more SELL opportunities.
4. Stoch RSI also making a bearish divergence.
Wait for break in trend line for sell down.
OVERALL
Expecting more downward momentum.
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Thanks for reading
See previous analysis
Please share your thoughts and views on my analysis and don't forget to like it and share with others.
USDCAD, pullback to cloudD1
-->> resistance spotted
-->> pullback to cloud
--->> expect huge downward movement if it fail to break the cloud
USDCAD, pullback to cloudD1
-->> resistance spotted
-->> pullback to cloud
-->> expect huge downward movement if it fail to break the cloud
USDCAD, forecast on D1-->> structure: downtrend
-->>trendline broken
-->> tendency: wait for daily candle close at this zone
USD/CAD Long Term-Trade IDEA (Daily)Very nice little set up here.
I try to keep my charts very clean and simple, We broke a major up-trend.
Since we found support (for now) I would like to see if we reject this area, if so I can see a retest of the broken trend-line as resistance.
Let me know what you think below.
USDCADHello traders,
Here on H4, we can see a bullish divergence on MACD that will provide us a possible up move for the price. We can see also that the divergence end in a double bottom, but the big trend is a down one so we can expect a correction in levels 50 and 61.8 at fibo and look for a sell scenario.
Will USDCAD continue the Down Trend??De afgelopen week is de koers verder gedaald en nieuw dieptepunt laten zien. Er zit waarschijnlijk nog wat meer kruit in het vat om de prijs verder naar beneden te drijven. Zie afbeelding voor de toelichting op mijn analyse.
