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Canada

Will the GCAD push to 1.35?I think price will be able to push to the 1.35 lvl as time goes on. The UK is struggling to keep its economy afloat while simultaneously the BOE is attempting to fight inflation. One or the other needs to happen and a soft landing is not going to happen, especially with double digit inflation. Canada's economy I think will be able to resist a recession. It may happen, but won't be as severe as other countries. Canada also has a trade surplus along with Australia. The BOC is holding on rate hikes but will raise rates if needed. Oil is pushing lower, but in the future, is likely to rise as OPEC+ looks to keep prices higher and the on going Russia/Ukraine issues. I think the move lower, will happen towards the end of the 2nd Quarter/beginning of the 3rd Quarter and last up until the end of the 4th Quarter or into next year. We seem to be in the eye of the storm, and there is something bound to set something off. Regardless though, how long can the UK economy hold on?
Short
by DollarSaenz
1
GBPCAD MASSIVE BEARISH MOVE TO 1.40500GBPCAD have been on a bullish move since last year, and currently is on a bullish continuation pattern, which indicates that price might go bullish for a while again. Now let's have a strong look to the long wick we can see below, that's huge liquidity and is expected to be taken. So how do price get to that zone? It first have to go bullish and hit the resistance zone or the point of 1.68400 before it sells massively, we still have time for that to happen. I will keep you updated on this. Meanwhile, i will love the support I have been having, I appreciate a lot. For me to feel more happy a share and a follow will be appreciated. Have a nice week. Thank you.
Short
by Superstarsony_05
2
USD/CAD -21/03/2023-• Symmetrical triangle on daily chart • Descending resistance line since 2020 is limiting further gains with 3 touches now already • W bullish formation • Risk is more tilted to the upside given that the recent range is closer to the upper boundary of the triangle • BOC/FED dovish divergence giving advantage to the US dollar • Sliding oil prices putting pressure on the Loonie • Overall, odds are on a breakout to the upside with a target of more than 2000 pips as per the measurement method • Bulls need to also clear the 1.40 round figure
Long
by RamziAbouAbdallah-CMT
Does divergence work?Candlesticks indicate the lack of sufficient strength for growth, therefore, according to the strength of the fall and the lower support area, and of course, the divergence, the probability of returning from that area is more likely. If the line is broken, we can imagine the upward growth trend up to the specified limits ⚠️ This Analysis will be updated ... 👤 Banipal : @hosseinbakrani 📅 02.14.2023 ⚠️(DYOR) ❤️ If you apperciate my work , Please like and comment , It Keeps me motivated to do better ❤️
by hosseinbakrani
USDCAD: Expecting a breakout and push up to 1.38With public holiday's in both USA and Canada tomorrow, I expect a quiet start to the week for this pair. On Tuesday it's Canada CPI which has been falling. Bank of Canada have just paused its rate rises as it expects inflation to come down to around 3% by mid-year and 2% in 2024, so if inflation continues to fall this should be negative for the CAD. On the other-hand, the DXY strength I've posted about in recent ideas seems to be materialising and I'm expecting a push up to test 105.2 - 105.6, particularly with the FED stating 'the battle with inflation certainly isn't won', and recent other economic data supporting the chances of the US avoiding recession. The FED still has room for manoeuvre and may be looking at another 0.5pt hike in the pending FMOC minutes, which will be good for the dollar. From a technical perspective, price is bouncing off the 200MA (8hr) and above the 50MA and 100MA, which are about to cross, and so I am bullish bias. If the fundamentals play out as I expect, I'll be looking to get in long on this pair before the breakout of a quick for a quick scalp, and then monitoring for a rise up to 1.38 following the break and retest.
Long
by Finchcliffe
4
CADCHF Buy Swing Trade Hi All, This is one of our swing trade for this year. we are anticipating this pair to break out of the downward trend channel. This pair has been trading side ways for over a year and we believe we have bottom out now. This is not a day trade!!! so if you want to day trade you will have to take profit where you see fit and re-enter where you feel comfortable using H1 and M1 timeframe. Entry and SL including TPs marked. Like, share , follow and comment. Many Thanks
Long
by creamygem
CAD/JPYWith Canada beginning to ease off on interest rate hikes, we may start to see the Canadian dollar begin to add strength, with us approaching the 5-month lows for the CAD/JPY at 99.49 this may be the last chance to jump on the bearish bandwagon before we see a potential rebound. We do however still have a way to go if we were to possibly re-test the 98.00 level which has not been seen since May this year. The current descending triangle we find ourselves in, provides the opportunity for a short position, where we look to enter at the top of our resistance channel. Depending on how the market structures itself within the entry zone will determine when and how we enter this trade.
Short
by VavioUniversity
cadjpy, longAs you can see in the chart, due to the weakness in the decline and the reaction to the support level, I expect an upward correction first, and then I will update the analysis if there is a reaction to the resistance level. Stay with me to get more analysis after following me by sharing with friends and leaving a comment. According to my risk and capital management system, the risk of each trade is one percent per position. What do you think about this analysis and other analyses? What symbol would you like me to analyze for you?
Long
by Hamiratrading
Euro / Dollar returns above parityEUR/USD 🔼 GBP/USD 🔼 AUD/USD 🔼 USD/CAD 🔽 USD/JPY 🔽 XAU 🔼 WTI 🔼 Underperforming earnings from tech giants Alphabet (GOOGL) and Microsoft (MSFT) have sent major stock indices reeling. As Alphabet and Microsoft’s stock prices have dropped 9.14% and 7.72% respectively, signs of a slowed economy are likely to make the Federal Reserve slow down on the rate hikes in December. Meanwhile, the news has also weakened the greenback, allowing EUR/USD to surge above parity and stabilized at 1.0077. Later this afternoon, Mitrade was informed that the European Central Bank is expected to raise rates by 75 basis points to 2.00 %. AUD/USD closed higher at 0.6497 with notable gains. Although the British Parliament is still heavily divided as the new Prime Minister is in office, GBP/USD led its peers by adding over 150 pips to 1.1627. The Bank of Canada only increases its interest rate by 50 basis points - lower than the estimate of 75, USD/CAD fell to a low of 135.13 and recovered to 1.3551. USD/JPY declined further to 146.35. With investors looking forward to a less hawkish Federal Reserve, gold prices rose steadily to $1,664.76 an ounce. Despite an increase in crude oil inventories by 2.59 million barrels, WTI oil futures have increased to $87.91 a barrel.
by Mitrade_official