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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
InvestMate|EUR/CAD Time to fall. Long-term in-depth analysis.💶EUR/CAD Time to fall. Long-term in-depth analysis. 💶The Euro situation does not look very interesting. 💶The market consensus is that economic growth in the euro area will slow down. 💶The situation is saved by the low unemployment rate of 6.6%. I would add that this is the lowest unemployment rate ever recorded. 💶Unfortunately, the situation in the labour market is not helped by rising inflation, the next year-on-year reading of which is due on 31 October, and which could return to 10% or even beat it. 💶The euro is still a cheap currency. This is compounded by relatively low interest rates compared with the USA, Canada, Australia and the UK, where they are sometimes many times higher. 💶The interest rate in the EU is only 1.25%. On 27 October we will find out what the next decision will be, with the market expecting a sharp increase of 75 basis points to 2%. 💶The war in Ukraine and the tense global situation have thrown in their two cents, resulting in the EU having its lowest trade balance in history at €-50.9B this month. Europe is definitely importing more than it is exporting, which is not healthy for the economy. 💶The PMI for industry has also only been falling and falling since January. It has fallen from 58 points to 48.10 currently. tradingeconomics.com 💶Finally, I would also like to draw attention to consumer sentiment, which stands at -27.6. These are once again the lowest levels in the history of the European Union. We will find out how they are for October on 28 October. 💶As we can see, the situation in the European Union does not look colourful, much of this data has already been discounted, but I believe that the market has not discounted the economic impact that such a persistent situation could have on the future of the European Union. Moving across the ocean to Canada. 🍁There, too, economic growth is forecast to be slightly lower than previous readings but we do not see as much divergence as with the euro. tradingeconomics.com 🍁Unemployment remaining low at 5.2%. 🍁Inflation slowly slowing The latest reading on 19 October indicated 6.9% which, compared to the peak of 8.1% recorded in June, offers a breath of optimism. 🍁Interest rates definitely higher than in the EU. At 3.25%. With the next rate hike due on 10 October, the market assumes it will be a 75 basis point hike to 4%. 🍁Trade balance at a high of C$1.52B in August. On 3 November we will find out how much it amounted to in September. Canada is now seeing very strong trade volumes. The highest in a decade. 🍁Manufacturing PMI low of 49.80 points. tradingeconomics.com 🍁The Consumer Confidence Index is falling but neither all-time highs nor a "crisis" state is just low at 48.51 points. tradingeconomics.com 🍁As we can see, Canada's economic situation looks decidedly better than that of the euro area. 🍁Will we see this reflected in the chart of these currencies? 🗠Looking at the chart we see that EUR/CAD has been in a downtrend for almost 2 years now. The trend definitely took a turn for the worse after the outbreak of war in Ukraine. 🗠Since 22 August, an upward correction of 5.53% began on the downtrend. 🗠But over the last month we do not see the strength for a further upward breakout. On 18 October we made a double top formation and immediately recorded a decline. Is this a sufficient signal for a decline? 🗠Looking at the euro compared to other currencies where it is definitely stronger and the rebound was definitely more blunt. Only on the dollar did we not see such a big increase because the dollar has also been on the rise for the last few weeks. 🗠Coming back to EUR/CAD, we are currently at the resistance levels set in April and July this year, these are the 1.34-1.35 levels. We can see that the price is struggling to break through them. 🗠As for taking positions. This seems to be a good time to take positions, either to wait for a retest of the 1.34 levels after the declines and attempt to rebound from below. 🗠Or setting a stop above the recent highs above the 1.36 level, with a target somewhere at the new lows. I am a fan of not setting targets but observing the situation as it unfolds, but in this case the level of 1.25 seems to be the most reasonable in case the falls continue. 🗠I don't want to bore you with indicators, but looking at any of them we can clearly see a downward divergence. 🗠Also the direction is known. Trend is set, stop and target known, I invite you to follow this pair. I am very curious to see what the coming week will bring. 🚀If you appreciate my work and effort put into this post I encourage you to leave a like and give a follow on my profile.🚀
Short
by InvestMate
4
Inflation Canada well I am continuing these charts till we hit my stop loss and go down--- if you look at my indicators you will see inflation is at 2% in canada right now and will continue being 2 percent for a while---I dont think it will do a uturn for a while I think we are stabilized at this point for a while. thanks for reading - if your policitians get this to the right people please inflation isnt real-- it takes a 5 or 10 million trade to make 160 trillion on here lol----
ECONOMICS:CAEDShort
by mooncrest-holdings-ltd
Recession Probability Outcome heres my chart im going be posting and looking at over the next year something that will be on everybodys mind come election and new year-- how to tackle inflation and recession--- probabilities. I am neutral for which I dont have many indicators that will work with this i dont believe so I will have to do some searching on google- for some examples of indicators and write my own with this--- on the second chart I post for this exchange. Recession probabilities. The base or starting line--for this project--will be adjusted and watched with due diligence. We will adjust and continue working with this project as months progress into the future.
FRED:RECPROUSM156NLong
by mooncrest-holdings-ltd