On the H4, with price moving below the ichimoku, we have a bearish bias that price will drop from our 1st resistance at 1.29039 where the horizontal overlap resistance and 38.2% Fibonacci retracement is to our 1st support at 1.27122 in line with the swing low support. Alternatively, price may break 1st resistance structure and head for 2nd resistance at 1.29667...
As the USD/CAD sits below 1.2800 and in consolidation, look for short term selling opportunities, in lined with the weakness of the DXY If price breaks below 1.2750 look for next support of 1.2610
On the H4, with price moving below the ichimoku, we have a bearish bias that price will drop from our 1st resistance at 1.29039 where the horizontal pullback resistance is to our 1st support at 1.27122 in line with the swing low support. Alternatively, price may break 1st resistance structure and head for 2nd resistance where the horizontal swing high resistance...
This is the position based on Edger trading system on daily time frame, This setup is 1:1 RR, entry has to be done on the candle close, the entry can be refined by your own knowledge. This is only for educational purpose and no financial advice. ENTRY : 1.29087 STOP LOSS : 1.27137 TAKE PROFIT 25% : 1.29574 TAKE PROFIT 50% : 1.30062 TAKE PROFIT...
There's a butterfly pattern (extended B point) and it has already hit the PRZ and entry point. Bearish candles confirm that the price has found resistance. So it would be a good idea to look for short positions. Target would be 1.2915 in which is the first TP.
FX:USDCAD The blue and red lines mean: I think prices can return in these areas. Green lines mean: I think the price can reach these areas. They are therefore known as transaction targets. If you want to use this deal, please risk only one percent of your account balance.
looking for a strong move higher in wave 3 of (A) of ((Y)), key level at 1.24, Critical Support at 1.20068
CAD FUNDAMENTAL BIAS: NEUTRAL 1. Monetary Policy The BoC did not surprise at their March meeting by hiking rates to 0.50% from 0.25% and continuing the reinvestment phase regarding asset purchases. The bank noted that the Russia/Ukraine war was a new major uncertainty for the economy and that as a result inflation is now expected to be higher in the...
Overall, USD/CAD have been trending down, have tested and rebounded strongly off key level 1.2450. There has been news that "All six of Canada’s major commercial lenders now expect the Bank of Canada to move ahead with a jumbo rate hike next week." If the BoC increases rates by 50 basis points, from 0.5% to 1%, look for selling opportunities below 1.2610...
Overall, USD/CAD have been trending down, have tested and rebounded the key level of 1.2450. Currently at 1.2497 expect continual volatility at this level. There has been news that "All six of Canada’s major commercial lenders now expect the Bank of Canada to move ahead with a jumbo rate hike next week." Look for short term selling opportunities as price remains...
Overall, USD/CAD have been trending down, but consolidating at the support zone and key level of 1.2500. As USD/CAD consolidates at this 1.2500 zone, expect significant volatility. There has been news that "All six of Canada’s major commercial lenders now expect the Bank of Canada to move ahead with a jumbo rate hike next week." This could lead to the USDCAD...
Overall, USD/CAD have been trending down, finding support at key level 1.2500 zone As USD/CAD consolidates at this 1.2500 zone, expect significant volatility and no directional bias.
with the compression on the sellers and the inability of the buyers to continue rising, there is a possibility that the CAD will strengthen significantly. Judging from the smaller timeframe, the price structure forms HL continuously and there is already an OB in the demand area. the best opportunity is to wait in the supply area (qmm) and can BUY if there is a...
According to the chart on the trend line, there is a positive reaction that if supported in this range, we will have the opportunity to climb to $ 1960 and $ 2,000. Otherwise, with the break of the downtrend line, we will have $ 1920 and $ 1905 support points. Its not Buy or Sell SIGNAL DYOT BY : Mohamad Teriz - @AtonicShark
We had a great zone 61.8 fib rejection on Late friday. I normally only take one trade on a Friday not past 3pm UK time.
With the recent bullish flag breakout, USDCAD is now retesting the top of the flag. Taking a very small stop loss due to the fact of the current Ukraine business going on, and USD has been somewhat volatile. It has touched the bottom of the trend for the third time and has also rejected the -0.272 fibonacci. Taking profits at 3 stages and moving stop to BE at...
On the H4 timeframe, We see the possibility of bearish continuation from our sell entry at 1.27834 in line with horizontal swing high resistance towards our take profit at 1.26643 in line with the 100% Fibonacci extension level. Alternatively, price may hit our stop loss at 1.28141 in line with 127.2% Fibonacci extension.
What does an inverse head and shoulders pattern indicate? Inverse head and shoulders pattern indicates the end of bearish phase and onset of an uptrend. Traders enter a long position when the up breaks through the resistance line. They would look for a rise in volume to confirm the trend change. When the inverse head and shoulders pattern forms, traders enter...