Canadian Dollar / U.S. Dollar
USDCAD (SHORT)- If all the resistance holds in place. If we see the Resistance broken out then we could see the shift in the trend. I marked the TP 1, TP 2 , TP 3 and EXIT (SL) on the chart. (THIS IDEAS VALID NEXT 24 HOURS)
Pair Name : USD/CAD Time Frame : 4hrs / Daily / Weekly Scale Type : Large Scale Analysis Way : Volume + Classic + High & low + Market Map ------ ❗️The purpose of this analysis is to spread knowledge among us and to clarify the most important points of entry, exit and entry with more than 5 reasons We seek to spread understanding rather than make money ➕ Key...
Hey tradomaniacs, USD/CAd could move up with the current correction after the recent breakout of the flag-pattern which is a sign for a trend-continuation. Overall a tricky situatrion for CAD, so fundamentals and news could of course destroy this setup due to the uncertainy regarding to Ukraine/Russia and the Oil-supply which highly affects the canadian...
USDCAD is in a strong bullish trend PRICE IN SERIES OF 1-2-3-4-5 sequence ( Impulse phase ) I think the price will continue going to the upside. But on the 4-hour timeframe, we have a bit of conflict but we could be having a short-term correction pattern. But we could go straight to the upside as its the main trend for this week.
My views on USDCAD is bearish heading towards the first support line of 1.24504 Once that's broken the second support line will be 1.20608
Prices are on bullish momentum. We see the potential for a bounce from our buy entry at 1.27415 in line with 61.8% Fibonacci Projection. Prices are trading above our ichimoku cloud support, further supporting our bullish view. RSI is at levels where bounces previously occurred. Any opinions, news, research, analyses, prices, other information, or links to...
Overall, USD/CAD is ranging across. Recently, USD/CAD broke below the key level of 1.28. The Canadian CPI m/m data (Forecast: 0.9%, Previous: 0.9%) will be released later at 2030 (GMT+8). USD/CAD’s next support zone is at 1.26100 and the next resistance zone is at 1.29200. Look for short-term selling opportunities of USD/CAD.
The price is expected to have a neutral and sideways trend. The price is expected to move in the indicated directions and if the triangle pattern is formed, it is likely that the uptrend will continue.
USDCAD Break of Trendline Rejection of fresh supply zone
Eyes kept on the US Fed FOMC tonight news. Price might reach the Support and Resistances Zone and make a reversal confluent with the trendline.
As the market was pretty bearish yesterday and today's london session we might expect buyers kick in as the price is in the support level. But if it happens to break below it then short position would be more promising to us.
Using Andrews pitchfork , the USDCAD is likely to go short and hit take profit TP1 and TP 2 in coming days or weeks
Pivot: 1.2755 Our preference: short positions below 1.2755 with targets at 1.2665 & 1.2625 in extension. Alternative scenario: above 1.2755 look for further upside with 1.2785 & 1.2810 as targets.
usdcad has the potential to continue strengthening with the nearest supply target at 1.28495 - 1.28833 the closest demand to execute a buy is at 1.27073 to 1.27555
If we get some rejections we could have a push up. lets see what happens
This is a great trade and the only trade today. Sometimes you can only find few trades a week.