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Bitfarms LtdThis little-known Canadian Gem, Bitfarm Ltd in my opinion will continue to gain momentum in the next coming months and years. BitFarms Ltd is a massive Canadian financial technology company that currently runs bitcoin mining machines that solve complex mathematical equations at an industrial level. What separates Bitfarms Ltd from its competitors is there ability to scale. They have software that allows them to monitor all their mining devices from one central computer. I believe Bitfarms Ltd will become a household name in the next 10 to 15 years for this reason im incredible bullish on Bitfarms Ltd
BLong
by k416bitcoin
USD/CAD - Consolidation OpportunitiesGreetings Traders! Here's some thoughts of USD/CAD: Since USD/CAD December High at 1.29570 , price has been falling all the way to 1.27000 . From the December High, price has created consistent Lower Highs and is expected to keep falling to the next Support Zone where new Trading Opportunities can be executed. Here's the two possibilities I'm thinking of that could happen at that Support Zone : 1. Price Rejects the Support Zone and Reverses to go Bullish back up. This could mean that it goes back up but won't go all the way to the Resistence Zone, considering that there's a Trendline that Price so far has respected. I would probably get out of the Trade at that Trendline if price doesn't Break. But if it does Break, then I would most likely have my next take profit at the Resistence Zone above. 2. Price Breaks through Support Zone but will Re-Test that area. If the Re-Test turns out to be Bullish and breaks through the area again, then I would go back to my first strategy again and looking for new entries to buy. However, if Price doesn't break the area at Re-Test, then that would be my entry for a sell. Quick tip: Always wait at a Key Area to see what price will be doing. It may Reverse or it may go through , but don't assume something. Look at what actually happens and Trade after that. Looking at the DXY chart ( U.S Dollar Currency Index ), the U.S Dollar has consistently fallen after Biden's Installation. Considering the Federal Open Market Committee ( FOMC ) interest rate decision, means that it may keep the exchange rate under pressure, as the Central Bank looks to be in no rush to scale back its emergency measures. Hopefully this gave you a better understanding of the current USD/CAD situation. Good luck with your trading & I wish you a continued good day!
by TraderEliahs
2
VERY headed to a new all time high? This stock has been CSE:VERY good to me. The Very Good Food Company makes Vegan Meats better than Beyond and all the other meat wannabes CSE:VERY I first 'bought in' to this company when I tried my first vegan faux breakfast sandwich at their first and only eat-in location in Victoria, Canada. I put my money where my mouth was when I bought into them soon after their IPO at $1.09. Since then, their market cap has exploded to 640m and so has demand for their products. They are rapidly scaling up production to meet an even more rapidly growing demand, with an 82% production capacity improvement since OCTOBER 2020. They recently acquired a small nut-based vegan cheese company to expand their product offerings. Bullish press releases and strong technicals continue to push this stock up. I wouldn't be surprised if an uplisting to the NASDAQ is in their future. A close over 9.50 above their previous all-time highs will be breaking out of a final resistance point could be a good entry with a lot of upside. I am hanging on to what is left of my original position and don't intend on exiting anytime soon, this is a long term hold for me. DISCLAIMER: This is not to be interpreted as trading advice.
VLong
by matrixmisfit
4
Cad heading into a risky zone The cad bullish momentum is going to be tested within the zone because it heading towards a major resistance zone. This zone has rejected several trends, causing bearish momentum in the past Now would be the best time to test for the bearish emergence being that the cad is another safety currency. As the market's fears over the viruses ease more the cad might not look as favorable anymore and there could be huge profit-taking and shifting of currency demand.
TVC:CXY
by SoryKaba
GROW.V Breakout New 52 Week HighsIncreasing volume and price action past few weeks. Ascending triangle breakout confirmed today with rise above weekly ichimoku cloud. Low float micro cap stock. Disruptive agriculture tech increasing plant growth, new signed contracts and sales behind the run up. Previously ran to 0.70 in April 2019 with a lot less company traction and progress. Price target 0.30-0.35 from ascending triangle break, stop loss 0.20 at previous resistance. I am long GROW, recently doubled my shares at 0.15.
TSXV:GROWLong
by Unlikely-Bite
Bank of Canada to Cut Interest Rates Next Week?My readers and followers are up to date on the ongoing currency war. Central banks are attempting to weaken their currencies in order to boost inflation and exports. The export part is self explanatory and well known, but the inflation aspect involves the classical economics definition of inflation. Inflation is the weakening of a currency where it takes more of the weaker currency to buy something which gives the appearance of prices rising. It really is the currency that is weakening. Now the Bank of Canada is set to make its next move in the global currency war. Just a quick recap: central banks have three ways to weaken their currencies: 1.Rhetoric. This is the most common way central bankers weaken or strengthen a currency. Also why the press conferences are closely monitored by traders. Chairmen (and women) use diction and rhetoric as a way of telling market participants what they are planning on doing in the future. The market reacts and prices this in. The currency moves in the way the central bank wanted. 2. Interest Rate Cuts. This is the next step up using interest rate differentials to either strengthen or weaken the currency. 3. Quantitative Easing. The final and most extreme way to weaken the currency using supply and demand principles. Most central banks have exhausted 2 and 3. The European Central Bank is the one I have been following for awhile. The ECB is trying to weaken the Euro as the European Union is a heavy export union. The problem has been the US Dollar, the true winner of the currency war so far. Since the US Dollar is the reserve currency, if the US Dollar is dropping, the other currency is strengthening. This includes the Euro, the Pound, the Loonie, the Aussie Dollar, the Kiwi Dollar, the Yen etc. The ECB increased their emergency asset program up to 1.8 Trillion Euro's in December. The Euro popped. Now all the ECB has left is to cut rates deeper into the negative. Expect this to happen. "Money markets see an increased chance of the Bank of Canada cutting interest rates closer to zero, as tightening economic restrictions to contain a second wave of COVID-19 cases offset optimism that activity will rebound later this year. Interest rates were thought to have hit rock bottom in Canada after they were slashed 150 basis points last March to a record low of 0.25 per cent, a level the Bank of Canada considered the effective lower bound. But in November, Governor Tiff Macklem said a lower floor could allow Canada’s central bank to ease further if the economy weakens." After these statements, the expectations for Canada to cut rates next week has increased. But don't worry, it is not negative rates. Yet. The Bank of Canada is expected to do a microcut, or an interest rate cut less than 25 basis points. The Bank of Canada's rate currently is 0.25%, and expectations are rates to decrease to 0.10%. Microcuts have occurred already. "Other central banks have moved in small increments. In November, the Reserve Bank of Australia cut its policy rate by 15 basis points to 0.1 per cent, while the Bank of England did the same last March." The Bank of England is now expecting to enter negative rates sometime before June of this year. The Reserve Bank of Australia will be next, and I am sure the Bank of Canada and then eventually the Federal Reserve will follow. All to attempt to weaken the currency, and why I have been saying the trade is out of fiat. Hard assets/commodities and cryptocurrencies are the way to play this going forward. Let's take a look at the USDCAD. The Loonie has been appreciating against the US Dollar as the Dollar (DXY) keeps sliding. You have seen in my previous posts, that I believe the DXY is at a MAJOR support zone and a relief rally is highly probable. Funnily enough, the USDCAD is also at a major support zone, and is looking like the Dollar will strengthen against the Loonie. On my chart, I have drawn a trendline which is a popular way to determine when a trend shift occurs. If price closes above the trendline, the Loonie will depreciate against the US Dollar. However, I am hoping we develop a right shoulder to create a head and shoulders pattern with the neckline being the zone above in blue at the 1.30 zone. This would imply price pops up, and then retraces before breaking and closing above. The interest rate cut could be the catalyst for the reversal pattern. This was expected. This is the currency war.
Long
by Uncharted-FX
1
The CAD/JPY surrenders to the stability of the resistance The CADJPY pair attempted to form some correctional bullish trades recently, while the stability of 81.05 resistance blocks the bullish attempts and reinforces the chances of renewing the negative attempts. Note that it is important to gather the additional negative momentum to manage to crawl below 80.50 level and open the way to record the main negative targets by reaching 80.05 and 79.60 levels. With Risk Management you will Never loss. thank you
Short
by Ridethemacro
💡 Don't miss the great sell opportunity in CADJPYTrading suggestion: . There is still a possibility of temporary retracement to suggested resistance line (81.45). if so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: . CADJPY is in a range bound and the beginning of downtrend is expected. .The price is above the 21-Day WEMA which acts as a dynamic support. . The RSI is at 35. Take Profits: TP1= @ 80.90 TP2= @ 80.46 TP3= @ 79.81 TP4= @ 79.21 TP5= @ 78.35 SL: Break Above R2 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex trader? Now, It's your turn! Be sure to leave a comment let us know how do you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
Short
by ForecastCity
18