GBPCADConfluence of resistance above. Moving averages, resistance zone, trend line and the price made an egulfing candlestick pattern yesterday. Trend is clear, let's see how is it doing monday for entry.
CAD
USDCAD - Pullback to 130.000USDCAD - Pullback to 130.000 then 131.000?
Heavy CAD news could see this pair fly. Regardless of the pullback I would look to take a Long position
GBPJPY still testing major resistance, watch for the reversal!GBPJPY is forming a nice reversal setup at 147.95 (Fibonacci extension, Elliott wave structure, bearish divergence) and a strong reaction could occur at this level to push prices all the way down to major support at 146.15 (Fibonacci retracement, horizontal swing low support).
Stochastic (55,5,3) is seeing major resistance at 95% where a corresponding reaction could occur. We’re also seeing bearish divergence vs price signalling that a reversal could be impending.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Possible Short in play with the Loonie CADUSDDoes Canada hate its currency? Seems like it, time to short this shitcoin.
Cheers.
"The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a duly licensed professional for investment advice."
USD/CAD MAJOR DECISION COMINGFundas - Oil had a major pullback this week with supply levels being reported higher. In addition we have the Bank OF Canada (BOC) rate decision this week, weaker oil along with the market seemingly pricing in a no-go on any BOC rate hike has seen a weaker CAD towards the end of May.
Techs - This chart is slightly complicated. As we can see the momentum is to the upside. However price is approaching the key 1.3000 handle. In my opinion breaking this level and holding will depend on what the BOC says. In recent meetings the BOC has not had a positive influence on the CAD, which makes a case for the long. I would wait for a pullback first before i jump in long possibly to the 1.2900-1.2850 area. Regarding a short, i would be playing the range if i see a rejection of the 1.3000 handle and start in based on price action with a ride down to the same 1.2900 handle and below.
Happy Trading
USDCAD SHORTSUSDCAD has been consolidation for a bit but has been showing more momentum to the downside
with more dollar weakness we could see this pair start to melt i have taken this position already as we have broken out of consolidation zone and are respecting the fibonacci and trendline
We could see one more push to test the trend line and equilibrium zone but i believe this pair will fall in the long term
USDCAD - Daily Chart AnalysisPrice had an impulsive move to the upside today after the release of positive U.S. data. Still not taking any trades on this pair yet as price is stuck in what seems to be a triangle. In order for a buy order to be placed price would have to break above the trend resistance and hold that level (1.29) taking a trade at this level would be an aggressive move. Price is just generally in a very critical area where there is a lot of resistance. If price can make it to MR and get above it that would be an excellent sign of strength.
USD CAD SHORT4HR -Aheavy bullish trend with small rversal at the highest resistance zone
1hr- a bearish trend till its highest support zone which is corrected
15 min- a bullish trend till when the price ends
the 4 hr chart has consistent resistant zone at the price of 1.28799 hence my recommendation of a buy till the price of 1.28799
CADUSD- Correction then breakout.CADUSD Just hit a major fib and gann fann line. It needs to do a retace and then it should be ready for a nice breakout.
USDCAD Swing USDCAD has broken both uptrend lines and we have some solid bearish candle formations on the higher time frame. A sell limit was also tossed in the telegram which has been activated. The trade taken is the setup on this chart
Canadian dollar or just a dollar?
There is a growing trend, now is the time to buy it for long. Important resistance zones on its way are marked on the chart. Also bullish divergence on 4H adds optimism
CAD/USD - strength in the great white north?Strong pinbar on the weekly - follows a steel/aluminum tariff threat from US that was quickly exempted (deferred to NAFTA talks) and some signs that oil & gold are about to explode upwards - all bullish for CAD.
Prices rejected and reversed from key resistance level of $1.29100 last week, a strong resistance level.
As the US has been driving the USD down, CAD has been restrained by low oil prices and uncertain metal prices. Metal & oil seem poised to take off which will strengthen the CAD. Inflationary pressure is growing in Canada, primarily from housing prices which surged but have just recently moderated.
On the daily chart, I am expecting a reversal and drop to the 200 EMA (1.27) or 100 EMA (1.26) before attempting to challenge to 1.29100 again.
Targeting a new short entry this week within the 1.28400 to 1.28600 (march contract) range with stop at 1.2900
Entry: $1.28500
Target: $1.2700
Stop: $1.2900
R/R: 500/1500 - 3:1 lower than desired but still reasonable if prices could fall to 1.26 (4:1)
AUSSIE STEEL TARIFFS & TRADE PROTECTIONISM AIMED AT CHINAWe recommend selling AUDCAD targeting 0.9914 (50-day moving average), with stop loss 1.0150 (above recent highs) for a total reward-to-risk ratio of 2:1.
As discussed in Asia Pacific: US tariffs: A minor setback for now, 2 March 2018, the steel tariffs reinforce our view of AUD underperformance on the basis of late-cycle domestic dynamics, and an expected moderation in Australia’s terms of trade . Any new announcement of wider tariffs on US imports from China will not bode well for the AUD, given the currency’s high sensitivity to China’s growth outlook.
On the other hand, the loonie has already incorporated trade policy risk premium and a partial unwind, given Canada’s exemption to the steel and aluminum tariffs, could support CAD this week.
This trade recommendation is valid from the Wellington open Monday to the New York close Friday.
-Barclays FX Research
USDCAD - BUY Blue Lines / Sell Red LinesUSDCAD has broken upside resistance. However we feel the Red Zone & RED Line will be strong Resistance area for further upside. We expect USDCAD to test the Blue Lines and retest the recent high and potentially red zone. Scalp between both lines for both side trades.
600+ pips left in UP move, BULLISH USDCAD setupUSDCAD is showing bullish signs in this UP move with around 600 pips still left in the move. Combining Elliott wave, gives the answer how to follow the trend and find entry before the next UP leg starts.
GBPCAD Long OpportunityHere's a long trade I'm about to take on GBPCAD. I recommend waiting for current DAILY candle to close above resistance of ascending wedge formation and then placing a buy position with the suggested SL and TP.
I'll update if anything changes - Happy trading!
**Don't take trades based purely on my ideas shared with you; I'm just providing an idea for people who are after some knowledge of what could happen. You should conduct your own analysis and research to build up your own predictions**
- Reiss
USDCAD - Daily. Area of interestReasons to look at potentially going short;
- Third touch of descending trendline
- 61.8 fib retracement
- Back testing Short term support now possible resistance
- Heading towards dynamic resistance (200MA)
Things to consider before;
- A lot of buying pressure over the last few days (2 of 3 Strong Bullish Candle closures)
- DXY looking bullish, Could see some more dollar strength before anything
- Scale down to lower timeframes and look for a break of the ascending trendline before taking shorts
Longterm if we get the signal to go short and it all plays out then 124.200 could be a good target.
CADJPY AT KEY LEVELIf prices close below 89.30 we expect lower prices, if prices close above 89.50 we expect prices to rise higher
USDCAD SELL SETUP NFP !keeping my stops above the highs - we have NFP In the morning so wont be looking to enter closer til NFP
CAD/JPY: finally SHORTConfluences:
1/ Trend
2/ Fib play
3/ 91 as resistance
4/ High test candle ( 2 in a row )
5/ Bearish MACD
6/ We are bouncing of the 200 EMA on the Weekly chart
After day one of the trade, U can see that we broke the CTL, which is a great sign for this pair to finally head lower again.
It is not too late to enter, because today we got a pullback.
Target 89
RSI below 30, Oversold. Buy4HR Chart shows a buy. We need a bounce to then find out where to go next. January 2016 was USD CAD high, could we have a good January next month for USD CAD?
