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Canadiandollar

CADJPY Two scenarios but sell opportunity more closely.The CADJPY pair is trading within a 5-month Channel Up pattern, exactly on its 1D MA50 (blue trend-line). We notice the formation of a Triangle within it, similar to April's. If the 1D candle closes below its Higher Lows trend-line, then we will sell targeting 104.250 (Support 1). If the price breaks above the Lower Highs, we will buy and target long-term the 2.0 Fibonacci extension at 114.775. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
by TradingShot
AUDCAD Lower High rebound expected within the Channel UpThe AUDCAD pair followed our prediction on the last analysis we made a month ago (see chart below) and hit two targets on the way to the bottom of the long-term Channel Down: The price is now on the 2nd straight green 1D candle after a flat Friday, which was most likely the bottom reversal of the Channel Down. As the 1D RSI hit the bottom of its Rectangle pattern as well, we treat this as a strong buy opportunity on the medium-term, targeting not just the 1D MA50 (blue trend-line) but also the Internal Lower Highs trend-line. Our target is 0.89000, but will book the profit earlier if the 1D RSI approaches the top of its Rectangle before that price target. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Long
by TradingShot
1
EURCAD Secondary bullish wave ahead.The EURCAD pair is consolidating on the 1D time-frame above both the 1D MA50 (blue trend-line) and 1D MA200 (orange trend-line). This analysis is basically an update on July's pull-back buy idea (see chart below): The price is now entering the secondary bullish wave of this sequence, continuing to mirror the February - April fractal. However, we do have to lower our final target to 1.50190, which is the 1.236 Fibonacci extension, as the current sequence appears to be shorter than the one of February - April. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Long
by TradingShot
GBPCAD: Running out of steam, start of the reversal?In my opinion GBP is building up for a big fall this year, and it has to start with a lower high. Oil prices are rising, and as much as the FED don't want this, it's happening, and this should be good for CAD. I can see a rising wedge pattern, we can see spinning tops forming and it looks like we're running out of steam, I believe we'll initially fall back to the 1.7 support / round number. I'm waiting for my entry, I expected GBP to fall before now, but the BoC unemployment news wasn't supportive last week.
Short
by Finchcliffe
7
GBPCAD: Double long term Buy opportunity.GBPCAD is testing the 1D MA50 as Support on neutral 1D technicals (RSI = 49.135, MACD = 0.001, ADX = 29.493). This is an early buy signal. However since the long term pattern is a Channel Up, the downside potential extends as low as its bottom of the HL trendline. Throughout its formation, the 1D MA100 has constantly provided Support, more specifically three times since February 16th. Consequently, if a 1D candle is closed under the 1D MA100 (again it will be the first time inside this eight month Channel Up), we will add a second buy position near the 1D MA200. The current buy (1D MA50) targets the top of the Channel Up (TP = 1.74500), the lower buy targets the 1.382 Fibonacci extension (TP = 1.75150). Prior idea: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope
10
USDCAD Sell opportunity arising a little higher.USDCAD is trading inside a Channel Down pattern for nearly 5 months. The price is currently on the 1day MA50 for the first time since July 7th and second since June 1st. Obviously a strong Resistance. The technical rejection zone however lies a little higher inside the range consisting of the 1.33845 Resistance (previous High) and the 0.618 Fibonacci level (1.34340). This is where the last Lower High was rejected. The 1day RSI is already near its own Resistance, same as the May 25th Lower High rejection. As a result, starting to sell when it touches it and scale sells up until the 0.618 Fibonacci, is a valid approach. Target Support A at 1.30950 and after a rebound, Support B at 1.29555 for a technical Lower Low. Previous chart: Follow us, like the idea and leave a comment below!!
Short
by TheCryptagon
6
CADJPY Bullish within the Channel Up, bearish below it.CADJPY is trading within a Channel Up since the March 24 bottom. The price action maintained this bullish formation as not only did it recently made a Higher Low but from July 12 to July 18 all 1D candles successfully closed above the 1D MA50 (blue trend-line), something common since April 27. As long as this is taking place, we will stay bullish, targeting 109.250. That is a Lower Highs level, similar to the one on in April, whose fractal resembles today's. On the other hand, if we close a 1D candle below the 1D MA50, we will sell and target 102.000, just above the 1D MA200 (orange trend-line). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
by TradingShot