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CAD

USDCAD: Testing the 4H MA200. Rejection ahead?USDCAD made a perfect rejection on our last signal exactly at the top of the twelve month Channel Up. You can see this at the bottom of the analysis. The price turned bullish however lately on the short term and the 4H timeframe (RSI = 60.972, MACD = 0.001, ADX = 26.230) as it rebounded at the bottom of the prevailing Channel Down that emerged. At the momemnt it is testing the 4H MA1200. As long as the the price is trading inside the Channel Down, this is a sell opportunity on a 2-3 week stretch (TP = 1.32500). Prior idea: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Short
by InvestingScope
3
CADJPY: Cheeky Scalp 1:3 with tight SLWe can see CADJPY rejected off the ascending channel and horizontal resistance confluence. I think we'll retest following a bounce off the lower boundary, especially seeing how oil is doing and today's CAD data. I'm really mindful of the end of week BoJ news as I think this could cause some reversals based on recent BoJ fundamentals and historic moves to protect the currency in International markets, but there's time left this week and so picking up pips where I feel safe, ahead of the news.
Long
by Finchcliffe
GBPCAD will rise soonGBPCAD is oversold at this situation.RSI shows that .so we can see a correctional buy . EDUCATION so to find tha point of reverse in the market we can use out fibonacci tool to high to the low the impulse in that point we can see the 0.382 Fibo level is perfectly matched with the previous support which will become the resistance soon.( SBR ).also the trading is th reacting process it can not project .so we have to see the price action on that fibo level before it makes an rejection USE your own risk management.
Short
by rasindu2003
1
CADJPY Testing the 1-year Resistance. Will it break?The CADJPY pair has been just below the 110.615 Resistance (September 13 2022 High) for the past 3 trading sessions. The long-term pattern is a Channel Up so the trend remains bullish until it breaks downwards. The 1D MA50 (blue trend-line) is firmly supporting. The current bullish wave doesn't differ much from the one that started on the March 24 Higher Low and peaked on the 4.0 Fibonacci extension. As a result we remain bullish on this pair and expect 113.500 (target) by the end of October. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Long
by TradingShot
1
AUDCAD One Low to go inside the Channel Down.The AUDCAD pair has been trading within a Channel Down since the February 09 High, having failed to achieve any 1D candle closing above the 1D MA50 (blue trend-line) since July 26. The current price action resembles the start of the Channel Down. Based on symmetry, we have one last Lower Low to achieve and then we should be expecting a rebound to test the 1D MA50. We will buy just below Support 2 (0.85915) and target 0.8700. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
by TradingShot
EURCAD At a tipping point. Trade according to this Support Zone.The EURCAD pair has been decreasing since the August 30 High that formed the 1.48250 Resistance (1). Being below both the 1D MA50 (blue trend-line) and the 1D MA200 (orange trend-line), the long-term outlook looks bearish, considering also the fact that we may have completed a huge Head and Shoulders pattern since December. However, the price is decelerating the downtrend as it approaches the 1.42850 - 1.42400 Support Zone (1 & 2), so as long as it holds, we will be bullish short-term targeting the Symmetrical Resistance Zone at 1.46000. If the price breaks below Support 2 (1.42400) we will instead sell and target 1.40250, which would be a -5.50% decline from the August 30 High. Both targets are respectively on the top (Lower Highs trend-line) and bottom (Lower Lows trend-line) of a potential Channel Down pattern that might emerge if the Head and Shoulders prevail. Note that the 1D RSI is currently oversold, which currently favors the bullish case. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
by TradingShot
1