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!
CADUSD
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!
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!
USDCAD STRUCTURE LONG|BREAKOUT
The pair is moving nicely along the upward trend-line support.
A small local resistance confirmed breakout signals us that the bullish continuation to be expected.
Two possible targets.
First one-weak resistance-used to be support.
Next one-strong level.
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Wish you a great day, friends!
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.
🇺🇸 | 🇨🇦 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.
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Previous idea on CAD:
Livermore Cylinder idea:
Canada Blow Out - Looks like the US is doing a temporary border closing. In conjunction with a flight to safety (USD Index at all time highs), it's a brutal move for USDCAD.
2016 highs being re-tested here. I'd say you have to take the other side of this (Long CAD) as there will be a retrace back to normalcy. Trade to continue between countries.
CAD/USD - Possible New Trade Alert - Multi-Time Frame AnalysisHello Everyone,
What’s going on? This is Jordan with Conquer Trading & Investing providing simply the very best education and analysis on the internet. Here is the full analysis and outlook for this pair. If you have any questions or insights you would like to share feel free to share them in the comments below.
CAD/USD 1D AnalysisWe have touched our ascending channel for the 3rd time and so we can expect a move to the downside.
For confirmation, wait for a break of the resistance box/level in green and try to catch a re-test of that same level at a lower time frame.
Do always use your stop-losses and remember this is not financial advice.