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CADUSD

Currencies - A tour of the weeklysAUDUSD ADX: Signaled price consolidation starting week of 3/27/2017 DMI: The week of 01/09/2017 a buy trigger was set at .7493. For the next 15 weeks, this line held price. However, on 04/03/2017 a sell trigger was set at .7501. Although price has closed below this line since then, it has still been held in check bu a non-trending ADX below 20. TRIX: Below 0 a bearish signal but is now up over the 10 period HMA and trending up. This has set a new secondary resistance line at .7456 Bottom Line : For long term trade, stand aside until price consolidation breaks out CADUSD ADX: Since July of last year, ADX has been below 20 and drifting signaling price consolidation. To-date, the best pattern loos like a channel DMI: -DI is currently dominate but +DI is close to challenging. TRIX: Has crossed up over the 10P HMA setting up secondary resistance line at .7395. Although the TRIX is below 0, both are trending up and price has closed and held above .7395 for past 2 weeks. Bottom Line : Watch for a buy trigger generated by DMI. If price closed up this week, then it would be a buying opportunity GBPUSD HMA on price (21 and 45 period) are both trending up DMI: is signaling an up trend. A buy trigger was set week of 3/20/2017. 3 weeks later, price closed above this line and has held TRIX: Moved above 0 with DMI buy trigger. Most recently, it set a secondary support line at 1.2867. Bottom Line : Look for support at 1.2472 before next leg up begins. Use the TRIX to act as the trigger (TRIX crosses up over HMA with price follow through) JPYUSD ADX: Below 20 signaling price consolidation in the area of the box DMI: A buy trigger occurred on 5/15/2017 at .8991. However, with ADX below 0, no action should be taken until the consolidation pattern is identified and breakout direction is determined. Bottom Line : A close above .9603 and hold with TRIX continuing up would signal a buying opportunity.
by mxb1961
$CADCHF bottoming? (Monthly)$CADCHF appears to be bottoming in line with $CADJPY and $CADUSD which offers further confirmation of a huge CAD rally that begins in the near future and likely takes us into 2018-2019. The techs on $CADCHF are obviously not as clear or clean as the other two pairs but they shouldn't be ignored. The market is dropping hints everywhere and it'd be wise to listen. This pair is probably best used as guidance for positions in $CADJPY and $CADUSD until more solid and reliable patterns form with time. Targets are EXTREMELY obvious on this pair, the first is the 1995 low near the monthly 50ema/sma and the second is the high of the giant quarterly low candle formed in 2015 (swiss de-peg) which is just below the yearly .382 fib retrace level. Ideally we bottom around this current area, then rally up to break the first target and then head off to the second target. We would then bounce off the second target forming a neckline and heading back down to the first target for a right shoulder within the potential inverse head and shoulder pattern.
Long
by patrick186
2
CADUSD: Is this a bottom for the Canadian dollar?This level might be the bottom in this pair. Trump's tariff announcement might have created a negative enough sentiment to form a bottom here. From Zerohedge: "Canadians have had a tough time of it recently: they are getting inundated with illegal immigrants (thanks to Trudeau's welcome) and not benefitting from the wholesale emigration north that so many liberals promised if Trump was elected; housing has become unaffordable due to Chinese hot money flows encouraged by the government; the Canadian energy industry is hosed because of US shale production-driven low prices; and now the US imposes trade tariffs on another of their biggest exports." "The determination that Canada improperly subsidizes its exports is preliminary, and the Commerce Department will need to make a final decision. In addition, the U.S. International Trade Commission will need to find that the U.S. industry has suffered injury. But even a preliminary decision has immediate real-world consequences, by discouraging importers from buying lumber from Canada." www.zerohedge.com To me, as a contrarian, it sounds like a good opportunity, although the odds of the trade working are low, the payoff would be significant. Good luck, Ivan Labrie.
Long
by IvanLabrie
4
Short USDCAD Until The Bullish Bat Pattern?I am shorting USDCAD (actually long CAD contract) based on longer term view of CAD, the .618 retracement of the drop friend the trendline, the completion of the AB=CD pattern (which went about 1 pip past stop loss, but where one could look to short at the 2.618 extension as well. There is also a cluster of fibs from different points in this range right here. Safer stops are above the 1.316 which I will consider depending on the price action at the time. Trade is already active and I would consider adding at 1.3127. I will be watching the price at the 2 targets of the AB=CD pattern as well as the Bat completion points to decide whether to close my CAD longs and switch to short to trade the bat patter, close the position all together or stay in the trade.
Short
by SharkbaitAl
Massive Top in $USDCAD, Low Risk Short Entry HereI will quickly publish this chart to show you the long term uptrend in the $USDCAD appears to be over. The downtrend is in play here and the risk to be wrong is very low, while the potential for gains is quite high. The long term trendline is broken and the $USDCAD is sitting on a level where a tremendous amount of volume and time has been spent at $1.31. Risk is a move over the 1.335 level to invalidate this setup. The opportunity is for a drop down to $1.17 where the "least amount of volume" has traded. More details to follow. Tim 8:28 AM EST Jan 31, 2017 1.30828 last
Short
by timwest
5
USDCAD correction imminentThe pair USDCAD is in a corrective structure. USDCAD has performed a 38.2 retrace from its top and has now broken out of its upper wedgewall. This will most likely be a fake breakout, because it is the GANN-resistance which is important here. It is meeting a significant resistance @ overbought conditions and its momentum is stretched and turning. This will likely send USDCAD into an intermediate cycle low. If dollar breaks all rules it can theoretically want to also have a fake break-out above the neutral line to touch 50 % FIB. This is however less likely given the circumstances. Trade safe!
Short
by UnknownUnicorn540299