GBPCAD 4HHigher highs & higher lows being made. BOE Rate hike for GBP Tomorrow can be very volatile trade with care!
Caddollar
NZDCAD 4HPrice bounced off its daily uptrend line & strong support. I am watching for a break the CTL before going long.. NZD News later today lets see if we can get a strong push to the upside first target at the 61.8 fibonacci level !
EURCAD 60Price broke its daily support now turning resistance, & broke out of its flag pattern. Expecting another wave down to next daily support level / daily wedge uptrend line.
GBPCAD DAILYPrice broke out of its downtrend line which was holding for about 2 years now, price now looks close to retesting broken trend line & will continue to resume its uptrend making higher highs & lows.
USDCAD DAILYDaily trend line broke out with strong bullish move after weak CAD news on Friday. Looking for a potential retest at broken trend line as price is approaching a strong level of resistance & fib level. I expect more USD strength continuing this week ...
AUDCADWatching this pair for AUD news in about a hour if we get week unemployment numbers I will look to take this setup as price is sitting above support waiting for a breakout. I will take Audusd long if good news out of the Aussie. This news event could bring a strong move to this pair
CADCHF 4HPrice has been moving sideways for some time now, & just recently we got a break to the upside & close above resistance. I have been waiting on this pair for some time now. A slight retest at the 50 fib level/trendline is likely I believe we are headed up now..
EURCADPrice broke through support with a huge bearish engulfing candle now sitting above wedge trend line, I am expecting a slight pullback to broken support turning resistance then a break though wedge & retest to get some more downside to this pair. Will watch throughout the week how it plays out..
GBPCAD 4H`Will be looking to take this pair long during GBP news in 3 hours if good data, If weak data ill be watching GBPAUD. Price now above daily support & right below the 61.8 fib. News will break this fib & continue to the upside depending on the data. Watch for break of Weekly downtrend line & retest for a long term long making potential higher highs & lows.
AUDCAD 4HWatch for breakout of downtrend line & retest. Price currently between support & resistance, & will need to breakout either way. If we break to the upside this pair will have some room to push up reaching its daily channel.
CADJPY 4HPrice now near support & its 4 hour uptrend line, expecting a bounce to the upside, however if we get a break & retest of this uptrend line plus support turning resistance, price could drop 100 pips. Overall we are in an uptrend & this support level price is near is a very strong weekly level that will need a lot to break through.
CADCHF 4HWaiting for a break & retest to downtrend line, will be looking to potentially enter at that point. A close above 0.78360 preferred for extra confirmation. This setup could come into play before the end of the week of next week no doubt. Daily Uptrend being respected still..
Trade safe! :)
USDCAD DAILY Price still respecting its downtrend. Price came & rejected at the 61.8 fib level, then head back to the downside. On the 4 hour we see a break & retest of broken trend line taking place. Tomorrow there is big US dollar news that will determine if we will regain some strength or continue bearish through next week. Something to be mindful of for sure.. We may be getting a lower low sometime soon potentially!
CADJPY 2HPrice broke out of consolidation box, price has been sideways above weekly support for some time now (Higher low on weekly uptrend), now we are getting some more movement hopefully to create a higher high, Weekly H&S pattern still in play. This one will definitely require some patience haha..
Trade with care!
AUDCAD 60Price is in a consolidation box between support and resistance. Waiting for a break above resistance & retest turning support to go long..
EURCAD DAILYAwaiting breakout.. Price is trapped between support & resistance & hopefully this week will give us a more clear indication of direction. After price broke its uptrend line it came to retest broken trend line making a (higher low) maybe a new lower low will be in the making.. Patience is key!
USDCAD DAILYPrice finally broke out of its downtrend channel after Thursdays news release with negative CAD numbers & positive USD employment numbers. A retest is now needed after strong bullish move breaking out of its downtrend, I am expecting another touch to the 50 fibonacci level / broken trend line to enter long. From there I believe higher highs & lows will be in the making !
Trade with care : )
New lower low on the cards??As you can see price is in an overall downtrend on the Weekly/Daily time frame. Price rejected resistance multiple times, failing to break higher. This is a good indication that price may head lower to create a new lower low or at least retest its last daily low. Something to think about here, downtrend line still holding strong..
CADCHF DAILYPrice reached the bottom of its ascending wedge & now rebounded to the upside closing above resistance. Now is retesting & looks to be forming a doji on the 4 hour to the 61.8 fib / broken resistance turned support. I will look to enter after the 4 hour candle close.
Trade with care !
CADJPY Weekly Price came back to retest strong broken weekly level / 50 fibonacci. We could see price go down to about 89.000 support before breaking back above, we are still in a uptrend. A break of the uptrend line I would be waiting for a retest of broken trend line to indicate a potential reversal..
Long at blue line support
USDCAD DAILY analysis overall we are still in a downtrend making lower lows & lower highs however price broke a key level & is currently above support, I will be looking for a bearish engulfing to go short or a break of the counter trend line / retest of fib level as well to indicate long. I will let the market settle so I can get a better insight of strength throughout the week. Confirmation needed indeed!
Trade with care : )
NZDCAD DAILY:Nice setup here, I though we might have got a breakout yesterday to go long potentially but downtrend line is holding strong. Price rejected 38.2 resistance & also a spinning top close rejecting zone on the last daily candle as well. Price should head down back to its Weekly trend line!
Trade with care :)
