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Usdcadsignal

USDCAD | PERSPECTIVE FOR THE NEW WEEKWith over 150pips in our direction since my last publication (see link below for reference purposes); the pair remains range-bound between Support at 1.31350 and Resistance at 1.32500 with Breakout potential building considering the hold of the Major Support/Resistance zone on the weekly chart after the Bearish run that started in March 2020. Tendency: Uptrend ( Bullish ) Structure: Trendline | Supply & Demand| Reversal Pattern (Head and Shoulder) Observation: i. Bearish run since March 2020 found bottom at 1.30000 with immediate rejection followed by Higher Highs and Lows. ii. Breakout of the Bearish Trendline a couple of weeks ago with engulfing candles insinuates the dawn of Bullish tendencies. iii. Since the Breakout of Trendline on the 8th of September 2020, the price has found a cocoon at the 1.31350 zone making it a sensitive Demand level. iv. I am looking forward to Breakout expectations off of the Neckline in the following week(s) as Buyers gain momentum from the Demand zone. Trading plan: BUY confirmation with a minimum potential profit of 250 pips. Risk/Reward: 1:3 Potential Duration: 5 to 10 days NB: This speculation can be considered to make decisions on lower timeframes. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Long
by darcsherry
USDCAD is fighting with 1.32000 levelUSDCAD The price is trading below the 1.32000 which is currently acting as a resistance for the bullish run. In one hour the price is also trading above the 50,100,200 exponential moving average is a clear sign of continuation of bull. On volume profile the price is also above POC – Point of control. On Elliott wave pattern currently third wave is forming. From sep low 1.2993& the uptrend trend line is holding this pair. At 1.31600 bullish engulfing candle is formed. We can buy this pair at current level and the potential take profit will be 1.32700. SL may place below the trendline. Please give us a thumbs up if u like our work and do follow us so that you can get a regular update about upcoming setups and ideas Disclaimer It’s not a financial advice. Do the analyze and take a decision.
Long
by forexorbit
2
GoldCartel - Is Loonie ready for a breakout? or falling deeper?Here's the link to see the beginning of this analysis: Follow up analysis: So far, so good. Currently, my analysis and targets remain the same, I reckon if it can stay below the major daily trendline, USD will keep falling deeper to 1.295, and my final long-term target would be at 1.272 zones. There's also a potential bear flag on H4 Time-frame, a great sign of a bearish continuation. Catalyst: - US Sales data - US EIA - FOMC - US ADP - US Jobless claims - CAD Core Retail Sales - US CB leading index
Short
by GoldCartel
5
USDCAD signal (SHORT)Hello friends. Please support my work by clicking the LIKE button(If you liked).Thank you! Everything on the chart. open pos: looking for short pos on correction targets: ~1.299 stop: above last local high (depending of ur risk). ALWAYS follow ur RM . risk/reward almost 1 to 4 Good luck Follow me on TRADING View, if you don't want to miss my next analysis or signals. Good luck. It's not financial advice. Dont Forget, always make your own research before to trade my ideas! If i help you to earn some money i will RLY VERYVERY appreciate for your donate. Open to your questions or suggestions(PM to me).
Short
by trytofeelpositive
1
USDCAD inverted head and shoulders pattern has formed in H1USDCAD After reaching the 1.30000 Mark this pair has rejected the downtrend and gone bullish up to 1.31600 At this level the inverted head and shoulders are formed which is a clear sign of bullish correction The price has broken the right side shoulders and stalled at 1.31600 which acted as a resistance for the bull. 1.31500 is a confluence zone which is also a price action level. And trend reversal area. In Elliott wave analysis the second wave is completed and the third wave is in formation stage. And the 100,200 exponential moving average is also acting as a major resistance for the bull. Currently the price is trading below the 1.31000 level. Buying order may place at this level and the potential take profit will be 1.32600. Stop lose may place below the 1.30000 level. In this week we are expecting the bank of Canada will hold the rate and will take a dovish stance which will weaken the loonie. And in previous week the oil was felled very much this will also Influence the price action of Canadian dollar Please give us a thumbs up if u like our work and do follow us so that you can get a regular update about upcoming setups and ideas Disclaimer It’s not a financial advice. Do the analyze and take a decision.
Long
by forexorbit
5
USDCAD | PERSPECTIVE FOR THE WEEKI had a Bearish bias last week with price moving over 100pips in our direction (see link below for reference purposes). Despite price action still portrays a dovish tendency, it is important to note that price is presently sitting on major Support/Resistance (see Day/Week Chart) which has been a sensitive Demand area multiple times in the past. As US job figures sparkle and against all expectations, the expectation of a break above 1.31500 in the coming week is strongly a possibility on my radar! Tendency: Uptrend ( Bullish ) Structure: Trendline | Supply & Demand| Reversal Pattern (Harmonic: Cypher) Observation: i. Since mid-July 2020, Price action has connected lower highs and lower lows with parallel trendlines to show a prevailing downward trend. ii. Price crashed into and began a rally from an area that represents a major Support/Resistance level (Demand zone on the chart) in the past. iii. Looking closely at the rally from the Demand zone, I noticed a structure that depicts a Harmonic move (Cypher pattern) represented by the following data; a. Point B retracement of the primary XA leg lies in between 0.500/0.618. b. Point C falls at an approximate of 1.414 extensions of the primary XA leg. c. Expecting 0.786 retracements of XC @ around 1.30300 zone confirming completion of the harmonic pattern at point D. iv. Having observed this, it's pertinent that I state here that a strong rejection of Key level with an engulfing candle shall force me to revert to last week's bias (see link below) as this means that the Buyers are yet to find the momentum to raise the roof! Trading plan: BUY confirmation with a minimum potential profit of 250 pips. Risk/Reward: 1:3 Potential Duration: 4 to 10 days NB: This speculation can be considered to make decisions on lower timeframes. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Long
by darcsherry
USDCAD | MY PERSPECTIVE FOR THE WEEKAs price moved over 150pips in our direction since my last publication (see link below for reference purposes); the Canadian dollar continues to benefit from the modest sort-rate spread between US and Canadian bonds. Friday's market watch posted a considerable gain for the CAD as it closed the day with an engulfing Bearish candle... this view at the market pre-empt me to consider a Bearish bias on this pair as I continue to look out for selling opportunity off sensitive resistance level on lower timeframes. Tendency: Downtrend ( Bearish ) Structure: Trendline | Support & Resistance | Breakdown Observation: i. Price action continues to fall within the confines of my Bearish Trendline represented on the chart. ii. Breakdown of my Key level @ 1.31500 during the week (Thursday - 27th August) followed by a possible retest of this level is more than enough for me to initiate a SELL on this one! iii. My 1.31500 level shall be a yardstick to hold my SELL bias in the coming week. iv. Having explained this, it's pertinent that I state here that a Breakout/Retest of this Key level might render this set-up invalid as a Rally could be in the air. Trading plan: SELL confirmation with a minimum potential profit of 120 pips. Risk/Reward: 1:3 Potential Duration: 4 to 10 days NB: This speculation can be considered to make decisions on lower timeframes. Watch this space for updates as price action is been monitored. NirvanaForex Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry