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✨ NEW: NZDCHF ✨ LONG TERM SWING ✨SLO2 @ 0.6856 (conservative) SLO1 @ 0.6706 (aggressive) TP3 @ 0.6630 TP2 @ 0.6357 TP1 @ 0.5925 BSO4 @ 0.5664 BSO3 @ 0.5505 TP0 @ 0.5497 (@ Minor Resistance) BSO2 @ 0.5452 (9m) ⏳ BSO1 @ 0.5447 (9m) ⏳ ADDITIONAL INFO: — TP0 is our earliest TP for Day Trading — shaving 25% from TP1/TP2 — closing ALL Buy Orders @ TP3 ⚠️ Trading the All-Time Low on this pair is an extremely aggressive position to take and it increases our risk. Manage your trade accordingly. Be conservative. BIG PICTURE ANALYSIS
Long
by ProfessorCEWard
1
🔥 NEW: USDCAD 🔥 AGGRESSIVE 🔥 Counter-Trend TradeIt appears that USDCAD could be reacting to a minor support level and pulling back to the upside before continuing the BIG PICTURE downtrend. Here's my latest setup for the Buy and the Long. RESISTANCE @ 1.3269 SLO @ 1.3245 TP3 @ 1.3235 (closing ALL Buy Orders) TP2 @ 1.3210 (shaving 25%) TP1 @ 1.3190 (shaving 25%) BSO @ 1.3166 (if Price Action pulls back to the downside) BLO1 @ 1.3150 BLO2 @ 1.3140 SUPPORT @ 1.31246
by ProfessorCEWard
🔥 STOP LOSS MODIFIED: USDCAD 🔥 Counter-Trend TradeRESISTANCE @ 1.3269 SLO @ 1.3245 ⏳ TP3 @ 1.3235 (closing ALL Buy Orders) TP2 @ 1.3210 (shaving 25%) TP1 @ 1.3190 (shaving 25%) 💰 +24 pips +SL @ 1.3169 🚫 BSO @ 1.3166 📈 +28 pips 🤑 BLO1 @ 1.3150 ⏳ BLO2 @ 1.3140 ⏳ SUPPORT @ 1.31246 💰 TP1 is in the bag for a profit of +24 pips 💪🏾 TP2, here we come!!!! 🤑 BSO Net Equity is @ +28 pips 🚫 Stop Loss has been modified to preserve capital (see above)
Long
by ProfessorCEWard
🔥 NEW: USDCAD...LONG 🔥 SWING 🔥RESISTANCE (major) @ 1.3550 RESISTANCE (minor) @ 1.3466 TP2 @ 1.3550 (closing ALL Buy Orders) TP1 @ 1.3466 (shaving 50%) BSO @ 1.3300 ⏳ The USD against the CAD has been trading in a downtrend for the past few months, and it is currently approaching the major resistance level of 1.3550. If the price respects this level, it could signal a reversal in the trend and a continuation of the downtrend retracement that began in mid-October 2022. Also, there is a minor resistance level at 1.3466, which I believe will cause a pullback, so I'm going to shave off some profit and hold my remaining position up to major resistance. Ultimately, the direction of the USDCAD will depend on market sentiment and the outcome of various economic events. ADDITIONAL INFO: —If the US Federal Reserve raises interest rates more aggressively than the Bank of Canada, it could put upward pressure on the value of the USDCAD. —If the US economy continues to grow at a faster pace than the Canadian economy, it could also put upward pressure on the value of the USDCAD.
Long
by ProfessorCEWard
✨ NEW: EURCAD ✨ SWING TRADE ✨TP3 @ 1.4765 (closing ALL Buy Orders) TP2 @ 1.4625 (shaving 25%) TP1 @ 1.4466 (shaving 25%) BSO @ 1.4375⏳ BLO @ 1.4315⏳ TECHNICAL ANALYSIS: — The EURCAD is currently trading at 1.43431 — The moving averages are all pointing upwards, which is a bullish signal — The RSI is in the overbought zone, which could signal a potential sell-off — The MACD is crossing above the signal line, which is a bullish signal Overall, the technical analysis for EURCAD is bullish. However, the RSI being in the overbought zone that could signal a potential sell-off. Based on this calculated guess, I'm going my chances with a Buy Order(see above) HIGH IMPACT EVENTS: — The economic outlook for the Eurozone and Canada — The interest rate differential between the Eurozone and Canada — Crude oil prices — Geopolitical events FUNDAMENTAL ANALYSIS Interest Rates: The European Central Bank (ECB) has raised interest rates twice in 2022, while the Bank of Canada (BoC) has raised rates four times. This has put upward pressure on the Canadian dollar and downward pressure on the euro. Inflation: Inflation is slightly higher in Canada. This could lead to further BoC rate hikes, which would continue to put downward pressure on the euro.
Long
by ProfessorCEWard
1
✨ NEW: USDCAD ✨ PRE CAD News ✨-SL @ 1.36681 SLO2 @ 1.3620 (conservative) SLO1 @ 1.3525 (aggressive) TP1 @ 1.3350 TP2 @ 1.3215 TP3 @ 1.2980 TP4 @ 1.2833 BLO @ 1.2795 -SL @ 1.27278 TECHNICAL ANALYSIS: Although, the pair is currently trading above the 200-day moving average, which is a bullish signal, Price Action for USDCAD is sideways. This range is a strong indication that it is consolidating before moving in a new direction — a downtrend. Traders should be aware of both the bullish and bearish signals before making any trading decisions. FUNDAMENTAL ANALYSIS: At this time, it's not clear what the future holds for USDCAD. The US dollar will do well if the economy is strong and interest rates go up. The Canadian dollar is being helped by a strong home market and rising oil prices. This is why the price action of USDCAD has been consolidating. Factors affecting the USDCAD exchange rate are as follows: (1) U.S. Interest Rates: How interest rates are right now in the U.S. because of what the Federal Reserve does, interest rates are expected to keep going up in 2023. Buyers will want more USD, which will push the USDCAD exchange rate down. (2) Canadian Interest Rates: The Bank of Canada is also likely to raise rates in 2023. But the rate of growth is likely to be slower than in the United States. This could help the Canadian dollar get stronger and stop the USDCAD exchange rate from going down even more. (3) Oil Costs: The price of oil has never been this high. This is good news for Canada's economy and may help the value of the loonie stay the same. But if oil prices went down, the USDCAD exchange rate could be hurt. (4) Canada's Housing Sector: The home market in Canada is doing well right now. This is good news for Canada's economy and may help the value of the loonie stay the same. But the USDCAD could be hurt if the home market starts to slow down.
by ProfessorCEWard
3
A very comfortable time to buy in - short termVery beautiful chart from Toronto Exchange Market these days. If you have TSX tickets it is now time to buy in and hold for the uptrend. TSX broke out of the downtrend channel and I have no reason to believe it is a "fakeout". Good indicator support and good trend lines. I'm expecting a small amount of correction between 19400 and 19200 since the RSI index is still very high, but it would not be back in the downtrend channel. Level 0.236 Long Term Trend-based Fibonacci is where I would be expecting a correction. As far as the scope of this analysis goes, I will be adding to my portfolio aggressively. I will do analysis of major tickers affecting TSX in the ext month or so, so make sure to follow me to not miss my analysis on the Canadian tickers!
TSX:TSXLong
by soheilsdgh