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CAD/USD Medium-Term Analysis: Weekly Market AnalysisThis is the second analysis on this series of majors against the U.S. Dollar (USD). In the previous post we analysed the Chinese Yuan Renminbi (CNY) against the USD; now we're taking a look at the Canadian Dollar (CAD) against the USD. The CAD is second in our ranking of currencies in relation to the 'Rate Of Change' (ROC) with the U.S. Dollar as quote currency. With over 2% appreciation in the last quarter (ROC, 15, W), with technicals indicating the nearing of supply zones, we'll be tracking the CAD for countertrend shorting opportunities in the short-term, and longing pullback opportunities in the medium-term, as it approaches previous key levels of demand. Wish you guys good trading and if you enjoy this analysis, please give me a like and share your ideas on the comments section, I'll really appreciate feedback from you guys and I promise to read and reply to each and every one of them as soon as possible. An amazing week for all of you and until the next post! :)
Short
by acsedward
USDCAD BREAKING UP📌 USDCAD A short idea which is essentially intended to cast some more light over the election positioning moves We played a very nice momentum move this morning after breaking through the WEAK Tokyo defence 👇 The process of continuing is automatic for algos, it enables the occupation of 1.35xx as capital ensures ULTIMATE safety in the greenback at a time of HIGH RISK via covid & U.S. elections. Basically, both drivers can be considered a tempo breaker for those wanting to load full sized positions on risk markets. Oil crashing via lockdowns triggering the next demand shock to the energy markets. Dems still in their diapers and we are out of time on stimulus, as I keep saying, by the time these things get to Washington they are so enwrapped in self interest, so enwrapped in all of the dirty political BS that naturally bring all issues to extremes. Oil has trifling odds of touching 33/32, a breakthrough there will open next 21 for a more solid support. I will be posting a new strategy report for Oil into the elections at the end of this week. Surprisingly, tradingview is very quiet...
Long
by ridethepig
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