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CADUSD

🦠 CORONAVIRUS ⚠️How COVID 19 Impacts USD, EUR, GBP, CAD and CYN💬 As confirmed coronavirus cases ticked up in the US at a faster rate than in the other countries shown on the chart (a selection of EU countries Germany, Italy and Spain, the UK, Canada, and China) we have seen a subsequent weakness in the US dollar compared to the currencies of those countries (as seen by EURUSD, GBPUSD, CADUSD, and CNYUSD). As you can see within the "Stage 1" range, there was a divergence between confirmed cases in the USA (Yellow plotted line contained within the indicator tile) and confirmed cases in other countries. This then led to an apparent impact on how people viewed the US Dollar's strength as is shown by the "Stage 2" range. This weakness in the US Dollar helped in creating a significant uptick in these other base currencies when compared against the USD base pair. Further, you can see that not only did the initial divergence in corona confirmed cases between the USA and other countries have an impact, but as that divergence continues to increase as seen in "Stage 3" speculators are taking this into account and betting on seeing even more upside as seen within "Stage 4". Hit that 👍 button to show support for the content! Help the community grow by giving us a follow 🐣 ----- Conclusion: The weakness in the dollar has seemed to correlate with an uptick in confirmed COVID cases compared to the other countries. Given this correlation, one might assume that we won't see the downtrend in the US Dollar reverse until the confirmed Coronavirus cases numbers for the USA start to downtrend. ✨ Comments and feedback appreciated! ✨
by AlphaBotSystem
10
CADUSD: New Channel - Key S/R Zone - Short!?Good Morning, After CAD/USD broke out of the descending trend line I had on my last chart it seems like now it could be forming a descending channel. Price is approaching a key S/R zone and also the top of the channel, it looks like currently price is bouncing downwards off this but we will have to wait for the 4hr close. Once we have confirmation this could be a good short as it seems dollar strength might be gaining pace - good NFP numbers will be driving the dollar potentially and on the other pairs I trade I am starting to get a sense of dollar strength. I will wait patiently to see what the next move is - if price does break up then there is always potential for a short term buy on the bounce off retracement back to channel or SR zone. Let me know what you think!
Short
by Simple_FX_
AUDUSD: Simple trade setup - early morning pips!Good Morning, For this pair it seems price might be bouncing off the descending trend line and if we get confirmation of this I will go short, however if price breaks above this descending trendline then I will wait for a retest before potentially entering long. - Both TP's are shown at the two next key support levels - I expect price to either bounce off the first support level or break through and retest the first support level turning it into a resistance level This is a very simple setup trying to move with the market, let me know what you think! Good Luck!
by Simple_FX_
CADUSD: Potential short incoming! Good Afternoon!, I have been watching and waiting for the price to move back up to the descending trend line and it seems its on its way their now, above in the chart you can see the short term descending trend line and long term ascending trend line are lined up nicely and it seems price should move back down before either bouncing off the ascending trend line and continuing the uptrend or breaking out below it. - I will wait for bearish confirmation on the 4HR time frame before taking a position - My TP target will be around 0.7209 where there is a key support level which also lines up for potential bounce off the ascending trendline From looking across the range of Forex pairs I have published my ideas about there seems to be a general short term bias to relative dollar strength currently in my opinion, as EUR/USD seems to be shaping up for a potential short and USD/JPY is shaping up for a long position as well. Let me know what you think? is the dollar gaining strength currently or do you have a different outlook! Good Luck!
Short
by Simple_FX_
Signals For 19/05/2020Signals 19.05.2020 Hey guys, today we’ll be looking at the top seven ideas for the next market session. Let us kick off with EURUSD. It’s looking very bullish. If we take a gander from a higher timeframe, we can see an important resistance level around 1.10 So let’s drop back down to h1, if the price goes into that level, that’s going to be our entry point My first target is going to be the zone at around 1.09400, and the second at 1.09000 Next is GBPUSD, let’s begin with h4, we have an important support level at 1.2200 and an important resistance level around 1.2600 Right now, we can see a false breakout of the support level, which is a very bullish signal, so I wouldn’t be surprised if the price pulled back to 1.22000, and that’s going to be our entry point. My first target’s going to be around 1.24500 and the second at about 1.240000, there’s about a 30% chance that if the price breaks 1.22000 and holds there, we’ll find an entry point to sell, our first target being around 1.20800, but if that happens, the price will probably refresh the low point at 1.20800 and keep going down for a bit, so the second target will wander somewhere below that. Next is USDCAD, the price is also at an important support level at 1.38500, here’s how it looks on h4. There’s also a dynamic resistance level going, which in itself is a pretty bearish signal. If we go to H1, we see that the price is at an important impulsive zone If the price forms a false breakout, that’s going to be a very bullish signal, as well as our entry point, with my first target being around 1.40200 Next up is AUSUSD – it’s also looking Bullish right now. If we go to D1, we can see important support and resistance levels around 0.64000 and 0.65600. Right now, the price is at the resistance level. I expect a false breakout. If the price does form a breakout, that’s going to be my entry point for a short, with targets at 0.65200 and 0.64700 Moving on, we have Gold. Honestly, I’m very bullish with gold recently – long term, midterm – I am very bullish, because all the central bank are printing money like crazy, which warrants price growth. The price has been in a consolidation for about a month, and then broke it with an impulse. A consolidation, in terms of supply/demand, means to us that there was a balance between buyers and sellers, and an impulsive breakout means an imbalance, in this case into the bullish side. Right now, the price is testing the resistance level, and if the price holds above it for a bit, that’s going to be a very bullish signal And the price will likely keep going up, and will also be our entry point and my first target will be around 1764. There’s also like a 30-40% chance that goes below the level and holds there, it will go down and that will be our entry, with the first target being 1712 Now we have oil, and there looks to be a pretty high probability of a correction. On h1, we can see a support level around 31.50 And if the price breaks this level, and then pulls back, that’s going to be my entry point for a sell. My first goal will be around 30 contract and 2nd will be around 28 per contract Lastly, we have S&P 500. If we look at it on H4, we can see that the price is in a very important resistance level While if we go a bit lower, to H1 we see that the price formed a false breakout, which means that if the price hold below the level, we’re going to sell. FYI, holding below a level means that at least three H1 candles opened and closed below the level. With that my first goal will be 2890 and the second around 2860. That’s all for now. Best of luck in trading and thank you very much for reading.
MCX:CRUDEOIL1!
by Horizon_Trading
🇺🇸 | 🇨🇦 USD / CAD — Strong SupportHello guys! This is continuation of the mid term analysis. I think price can go up to 1.42 in short-term but then can drop to strong support zone at 1.34. Simply follow your risk management. But this pair is risky on my opinion. Please don’t follow any analyst blindly. If you following somebody with good Risk/Reward and Win Ratio. Without risk management and allowing yourself to lose some trades, you won’t be good trader/investor. Always use stop loss to prevent yourself from losses. Make sure you understand and afford the risk. Please. ATTENTION: Dear followers please consider to appreciate my ideas on tradingview with your likes, this will help bring more quality content in next trading ideas. And if new to my work, and you like it, you can Follow my page to receive ideas in your Ideas Stream. Thanks 🤝😊 Stay tuned to Artem Crypto Previous idea on CAD: Livermore Cylinder idea:
Short
by ArShevelev
5