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Canadiandollar

USDCAD Approaching the most optimal sell level.The USDCAD pair is on the 2nd strong green 1W candle, following the rebound on the 1W MA50 (blue trend-line) and is approaching Resistance 1 (1.39000), the October 30 2023 High. This is technically the most optimal sell opportunity on a 1-year basis. The short-term Target is the 1W MA50 (blue trend-line) on a potential contact with the 0.382 Fibonacci retracement level at 1.36450. Target 2 is at 1.34500 (marginally above the 0.618 Fib), which will be a -3.23% ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Short
by TradingShot
1
CADJPY Strong sell opportunity at the top of the Channel UpThe CADJPY pair gave us an excellent buy signal last time we looked at it (May 30, see chart below) that easily hit our 116.500 Target: Now it is flashing the opposite, a strong sell signal right after a Higher High (top trend-line) rejection on the 7-month Channel Up pattern. Ahead of a 1D MACD Bearish Cross, the opportunity becomes even more obvious. Every Bearish Leg hit at least the 1D MA50 (blue trend-line) before making a Higher Low, so our Target is set at 115.500, which is an optimal level towards the final week of July. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Short
by TradingShot
AUDCAD Sell signal emerging on a 3.5-year Resistance!The AUDCAD pair just hit on the week's opening the Lower Highs trend-line that was first initiated on February 22 2021. As the 1W RSI is just below its own 3.5-year Resistance Zone, the first strong long-term sell opportunity flashes. Check below how the last AUDCAD analysis (May 29, see chart below) provided an excellent buy opportunity: The more short-term pattern though since the September 25 2023 Double Bottom is a Channel Up and it is close to pricing its new Higher High. This is just above the 3.5 year Lower Highs trend-line, so we give the sell signal this much tolerance level for some deviation. Our Target on the medium-term is 0.9000 (Support Zone 1, similar symmetry to the previous Higher Low on Support Zone 2). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Short
by TradingShot
1
EURCAD Testing the 1D MA50. Sell opportunity.The EURCAD pair eventually formed the new Lower High on the 17-month Channel Down as presented on our last analysis (May 27, see chart below) and got rejected: The rejection extended to as low as the 1D MA200 (orange trend-line) and a short-term rebound has brought the price back to a 1D MA50 (blue trend-line) rejection. Both previous Bearish Legs declined at least by -3.85%. We expect this 1D MA50 rejection to lead the price to at least Support 1, with our Target being 1.45000 (just above it). On a side-note, check the high degree of symmetry between the 1D RSI sequences of the Channel's Legs. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Short
by TradingShot
NZDCAD Excellent buy opportunity on this pull-back.The NZDCAD pair gave us a great buy entry last time we looked at it (May 08, see chart below) and made a direct hit on our 0.8500 Target: The price got heavily rejected straight after and just hit the 1D MA50 (blue trend-line) again. The pattern that seems to be prevailing is a Channel Up (blue). The last time we had a Higher High rejection on its top, the pair pulled-back to the 1D MA200 (orange trend-line) and then made a short-term bounce to the Internal Lower Highs trend-line. As a result, we will be using this opportunity to buy and target 0.84500 (just below the symmetrical Lower Highs trend-line). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Long
by TradingShot
CADCHF Testing the 1D MA50. Sell opportunity.The CADCHF pair has been on a strong 2-week rise after the 1D RSI turned oversold (below 30.00) that is testing today the 1D MA50 (blue trend-line) for the first time in 1 month (since May 31). Since the dominant long-term pattern has been a 18-month Channel Down, we expect this 1D MA50 test to deliver a rejection similar to November 03 2023, and resume the new Bearish Leg. Our Target is purely symmetrical at 0.63100 (Support 1). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Short
by TradingShot
GBPCAD About to test the 1D MA50. Sell opportunity.The GBPCAD pair is on the latest Bearish Leg of the underlying Channel Up (blue) pattern and is about to test the 1D MA50 (blue trend-line) for the first time since May 14. Once the 1D MA50 breaks, we expect a continuation of the Bearish Leg all the way to the bottom (Higher Lows trend-line) of the Channel Up. Since 2023, -2.66% to -3.08% pull-backs have been common on this pair. As a result, we are looking towards the minimum -2.66% decline, which gives us a Target of 1.71500 and will make a technical Higher Low on the Channel. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Short
by TradingShot
USD/CAD:USD Faces Pressure Amid Eurozone Political UncertaintyEid Mubarak to all our Muslim brothers and sisters, Permit me to do a detailed commentary of economic event on EUR, CAD, and USD. Eurozone Political Instability Impacting the Euro The Euro remains under significant pressure, primarily due to escalating fears of a financial crisis in France. Political turmoil and economic instability in the Eurozone, particularly in one of its key economies, have shaken investor confidence. This instability has led to a weaker Euro as investors seek safer assets, impacting currency markets globally. Canadian Dollar Strengthens on Positive Economic Data The Canadian Dollar, commonly referred to as the Loonie, saw a notable increase in value on Friday. This upward movement was driven by positive economic data from Canada, which reported a 1.1% rise in factory sales. The stronger-than-expected performance in the manufacturing sector has boosted investor confidence in the Canadian economy, thereby strengthening the Loonie. Federal Reserve's Policy and Its Effects on USD The Federal Reserve's recent policy meeting introduced a slightly hawkish tone, which initially led to a rise in expectations of interest rate cuts. However, following the meeting, these expectations have diminished. The Fed’s stance suggests a cautious approach to monetary policy adjustments, which has implications for the USD's strength. The reduced likelihood of significant rate cuts has provided some support to the US Dollar. USD/CAD Outlook and Market Sentiment Looking at the USD/CAD outlook for Monday, bearish momentum is evident as the US Dollar experiences a decline. This drop is largely attributed to the ongoing political uncertainty in the Eurozone, which has ripple effects across global financial markets. Despite the Fed’s hawkish hints, the prevailing sentiment reflects a cautious approach among investors, influenced by geopolitical and economic concerns. In summary, while the US Dollar initially climbed due to Eurozone instability, the overall outlook for USD/CAD appears bearish. The interplay between Eurozone political issues, positive Canadian economic data, and the Federal Reserve’s policy stance will continue to shape market dynamics in the near term. Cheers and happy trading!
Short
by Samuel124
USD/CAD Edges Lower as Traders Eye Key US Economic DataUSD/CAD is trending lower during the Asian session on Wednesday, currently trading around 1.3750. This recent movement follows a notable reversal from the 1.3790 area, where technical indicators suggested a potential change in direction. Technical Analysis From a technical standpoint, the USD/CAD pair exhibited signs of overbought conditions around the 1.3790 mark, as indicated by the Relative Strength Index (RSI) on the H4 timeframe. A divergence was observed, signaling that the bullish momentum was weakening and a reversal was likely. The pair has since edged lower, reflecting these technical signals. Market Sentiment and Economic Data The market is now focused on upcoming US economic data releases, which are anticipated to inject significant volatility into the trading environment. The key events include the release of the Core Consumer Price Index (CPI) and the Federal Open Market Committee (FOMC) decision. Core CPI Data The Core CPI data, set to be released today, is a critical measure of inflation that excludes food and energy prices. This indicator is closely watched by traders and investors as it provides insights into underlying inflationary pressures within the US economy. Stronger-than-expected CPI figures could reinforce expectations of a hawkish stance from the Federal Reserve, potentially supporting the US Dollar and influencing the USD/CAD pair. FOMC Decision In addition to the inflation data, the FOMC decision is another pivotal event for the day. The Federal Reserve's policy statement and subsequent press conference will offer guidance on the central bank's outlook and future monetary policy actions. Market participants will be keenly observing any hints regarding the timing and extent of interest rate adjustments. The FOMC's tone and projections will be crucial in determining the next directional move for the USD/CAD pair. Anticipated Volatility Given the significance of these economic events, traders are preparing for heightened volatility. The Core CPI and FOMC decision are expected to provide the necessary catalyst for a potential continuation of the reversal observed in the USD/CAD pair. Depending on the outcomes, we could see significant movements as traders react to the data and adjust their positions accordingly. in conclusion USD/CAD is currently consolidating its recent losses around 1.3750, following a technical reversal from the 1.3790 area. The pair's future direction will likely be influenced by today's Core CPI release and the FOMC decision. Traders should be prepared for increased volatility and potential continuation of the bearish trend, especially if the economic data aligns with the technical indicators pointing towards a reversal.
Short
by FOREXN1
1
NZDCAD: Bearish scenarios...! (Details on caption) By checking the hourly NZDCAD chart we can figure out that the bearish scenario is high probability. the price cleared the liquidity above the daily candle and then shifted the market structure and also had a bearish reaction to the bearish order block. Now, we can see the sell side liquidity which formed as equal lows, trend line liquidity, and daily FVG which can be our last target. For seeing this bearish move I can expect two scenarios that you can see on the chart. First, the price can move down from here. second, because of the clean buy-side liquidity we can expect the price to sweep the liquidity first and then move down. (I prefer to follow this scenario) As always we need LTF confirmation for entry. 💌It is my honor to share your comments with me💌 🔎 DYOR 🗓️07/06/2024 💡Wait for the update!
Short
by VahidTradingCR
1
CADJPY Buy signal initiated. Channel Up intact.The CADJPY pair extended the Channel Up flawlessly and hit our latest Target (April 02, see chart below): The price is now breaking above the short-term Ascending Triangle, which within the long-term Channel Up has always issued a buy signal after the price approached the 0.382 Fibonacci retracement level. The immediate Target on both previous break-outs has bee the -0.382 Fib extension. The 1D RSI is also posting that pre break-out consolidation. As a result we turn bullish again on this pair, targeting 116.500 (slightly below the -0.382 Fib). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Long
by TradingShot
AUDCAD About to test the 1W MA200 after more than 1 year.The AUDCAD pair has been on a structured rise since the September 25 2023 Bottom, which technical is a Double Bottom formation for the long-term. The price is about to test the 1W MA200 (orange trend-line) for the first time since the week of March 20 2023 as well as the Lower Highs trend-line that started on the February 22 2021 High. Every time the pair approached the 1W MA200 to this distance, it broke above it, even just for the medium-term. We expect a similar development, which would be conveniently a Lower Highs test. Our Target is 0.92250. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Long
by TradingShot