CAD JPY: Also Very Weak. Reversal Is Coming!
I posted the Chinese Yuan & Japanese Yen Short-Trade a little earlier.
Well the CAD JPY Daily Chart is almost a Carbon-copy of it. I would go so far as to say that this one is a tad weaker. Either should be a good Short-Trade. I will be on them both on Monday.
I need a break from trading Gold. Variety in your trading is the spice right! I love the explosive, fast moves in Gold so long as I'm on the right side.
I will work out a Stop Loss for this trade a bit later.
The CAD will turn around soon as the low prices will bring demand back into the Canadian -currency & it will very quickly come out of its oversold condition. Meanwhile, I am confident there is some further weakness in the currency before things start to get rosy again.
Cadanalysis
GBPCAD SHORThello traders.look at the chart from high time frame first.in weekly you can see choch and in daily time we are in downside.now look at the 4hr time frame.
price took the liquidity and fill the fvg area and we are in downtrend in 4hr too.so everything is ready for sell setup.for entry we should look for confirmation in small time frame?what is your confirmation?
R:R 2.32
“”your follows and boosts encourage me to publish more analysis””
Canadian Dollar - CAD - pairs(This post is to be a collection place/"container" for all CAD - Canadian Dollar - and related pairs.
-------------------------------------------------------------------------------------------------------------------
After weeks of consolidation near the bottom of a rising, long-term, weekly price trend channel, the USDCAD looks to be poised for a near-term, +500 pt topside breakout, toward visible targets around the 1.3650s level.
The well-formed, large bullish Wedge further suggests a potentially swift, upward price move.
The USDCAD Daily;
⭕the best buying and selling areas for the CAD/JPY🧨🔥🔰You can see the analysis of the Canadian dollar to Japanese yen currency pair in the four-hour time frame (CADJPY_ 4H)🔍💣
💥As it is clear from the picture, the price is moving in an Bullish parallel channel🖤❗If the price can break the lower line of the channel (dynamic support) and stabilize❗ below it, then it can have a downward trend until the DEMAND zone and Support🧡 🔻
If the price can break the Downward trend line🖤 and stabilize❗ above it, it can experience an increase up to the Resistance🧡, and if it breaks the upward Resistance🧡 and stabilizes❗ above it, it can have another increase up to the SUPPLY zone🔺🚀
which direction will the price go to the GREEN💚 side or the RED❤️ side❓❓
I hope the analysis was useful for you🤍🌹
📌Please introduce the channel to your friends 🙏🏻
_________📈TRADER STREET📉__________
⭕️SELL EURCAD at the best place and time 🔥🔰You can see the analysis of Euro to Canadian dollar in the four-hour time frame (EURCAD _ 4H)🧨🧨
💥As it is clear from the picture, it can be said that the price has a Range behavior❗🧐 If the black🖤 ascending trend line is broken and the price stabilizes❗ below this line and then the price pullback❗ to the trend line, we can expect the price to fall to the first DEMAND zone🔻
SUPPLY zone and DEMAND zones are specified in the picture👌
Do you think this analysis can be profitable❓
I hope the analysis was useful for you🤍🌹
📌Please introduce the channel to your friends 🙏🏻
__________📈TRADER STREET📉___________
💰Best Buy & Sell Areas USDCAD in 15minute time frames 🔥🔰You can see the analysis of the US dollar in Canadian dollars in the 15-minute team🔍
🔰Supply and demand zones and trendlines are specified🧐
✴️Due to the price being in the supply range and also the price being in the range of the high uptrend line (black🖤) the price can fall to near the demand range and the lower uptrend line (black🖤).
If the price can reach the top of the supply area, it can climb to the resistance in the four-hour time frame (orange🧡).
In your opinion, the price will move according to which scenario, GREEN💚 or RED❤️ ❓❓
I hope the analysis was useful for you🤍🌹
📌Please introduce the channel to your friends 🙏🏻
____________📈TRADER STREET📉_______________
⭕️BUY NZDCAD ; Buy according to channel❗️❗️🔰You see the analysis of the New Zealand Dollar against the Canadian dollar in 1 hour ( NZDCAD , 1H) ❗️🔎
🔰BUY Limit NZDCAD at 85.650
✅TP ; 86.300
❌SL ; 85.350
🔰As is evident from the analysis, the price is located in a bearish channel, due to the confluence of the lower channel line (white line) and the demand range (purple range) around the price of 85.650 purchases in this region can seem low risk (although due to the strong downtrend that the pair has gone through over the past hours, there is also the possibility of breaking the down channel)❗️❗️
The target is also located at the cross of the downtrend line (white dotted point) and resistance line range (orange line). 👌
⚠️⚠️Please observe capital management and open a low volume transaction❗️❗️
I hope this analysis is useful for you🙏🏻🌹
📌Please introduce the "TRADER STREET" to your friends 🙏🏻
_______________________📈TRADER STREET📉________________________
Great Buy Opportunity In USDCAD! Disclaimer: this is an idea, trade off it at your own risk
USD CAD has just made a false breakout and has made a strong move up and broke out of the 4H trend, it has also reached above the 200 EMA line.
We should be waiting for the retracement as it approaches the 50% - 61% fib area and look for the perfect buy in that zone (140 - 260 PIPS in Profit)
Then we could possibly look for another buy as it reaches closer to the range high.
If it drops down to the reverse zone we should be looking for it to test the range low support area, and if it breaks out of the range low then we should look for sells as it will approach the February 2018 support area and then look for new structure, potentially a reverse.
CAD Update 10.24.2020The CAD has a slow-n-steady channel to the upside. We are coming off the bottom of the channel, so I would expect strength in the short term. Pair the CAD with a weaker currency and trade accordingly... or pair with another strong currency and trade the range.
Expect a long term bias to the upside with measurable consolidations.
If you want access to the Currency Matrix used on this chart, you can get it here: tradevision2020.com