USDCAD I Wait for pullback Welcome back! Let me know your thoughts in the comments!
** USDCAD Analysis - Listen to video!
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Usdcadshort
USD/CAD PREDICTION ON 17.08.2023At the moment, the Canadian Dollar (CAD) is exhibiting a bearish trend. Several factors could be influencing this downturn, be it economic data from Canada, global oil prices, or international trade dynamics. It's vital for investors and traders to keep abreast of relevant news and economic indicators from Canada. Always combine insights with personal research and consider seeking advice from financial professionals before making investment decisions.
USDCAD - SHORTThe price has reached a point of a possible continuation of the downward channel. The price tried to break the channel but immediately got rejected by a bearish candle and the RSI shows a downward momentum. We look for a confirmation for reversal, BUT we have to keep in mind the strong resistance level at 1.36400. We will have a SL just above the structure in order to be ready for the possibility to reach the 1.36400 level and create divergence.
USDCAD SHORTCaught this entry about 5 pips late due to waiting for confirmation on 30 min candle,
I’m expecting it to drop until news on 14th comes out this is not a long term hold AUG 13th max before closing positions i seen that right as 30m candle and 2 hours candle tapped liquidity block it immediately reject expecting a harsh drop after retracement keep stop tight on this one everything lines up
5min bearish candle
30min bearish candle
2hr bearish candle
Take at own risk
USD CAD SHORTRisk 0.5%
TP1 = 1:2 RR
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NEWS PREDICTION: USDCAD SELLThis is just a news prediction, as I do not trade the news. But I can see price retracing for a bit before dropping off to clear the Previous Week Low. Price failed to make a higher high on the hourly chart the broke structure towards the down side. Even if price doesn't retrace to me point of interest, I believe it will drop regardless.
USDCAD: What will happen next?The USD/CAD pair is hovering around 1.3175-80 after experiencing its largest daily decline in eight days. This decline can be attributed to the drop in WTI crude oil price, which is Canada's main export, as well as the stronger US Dollar. The market activity on Tuesday morning in Asia has been slow.
USDCAD Trade Idea As per last analysis the USDCAD will move and touch the zone that I have marked now depends on US Dollar Index that If US Dollar will moved to gain its strength then USDCAD will also moved and the Map was also mentioned so just wait see the confirmations candle and then open up the buy trade.
The zone marked and the target will be 1.3376