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Forextechnicalanalysis

Macro Technical Analysis of the USD/CAD – Quarterly ChartLet’s take a look at the USD/CAD quarterly (3-Month) chart. Things are looking quite bearish for the coming months as price begins to get squeezed inside the ascending triangle. The bulls have tried multiple times breaking and clearing the 1.4500 price zone but has been met with a strong resistance each time. Considering that the MACD and RSI are diverging to the downside along with this triple resistance, it wouldn’t be a surprise to see the USD/CAD trading lower towards 1.3000 in the coming quarters. Considering this is a long term outlook, price can still fluctuate between 1.3500 and 1.4000ish but based on the current set-up, as of now, the view remains bearish especially with the U.S. Dollar under pressure across the board. A clear break & close above 1.4500 invalidates this view. Good Luck & Trade Safe
by InternalTraderNYC
Will the USD Bears come back? Stock Market just pulling back?In this video I go over the EUR/USD, GBP/USD and USD/JPY. Will the USD bears come pouring back in or give up the previous low on the EUR/USD... Some markers I'm watching is a "hidden" divergence on the MACD and it's potential signal for continued bullish strength for the EUR/USD, especially with the U.S. credit rating getting lowered by Moodys. I'm also watching for a potential reversal to the stock market's massive rally the last couple of weeks. Is this a true reversal or just a major pullback in the grand scheme of things? The last 2 weeks of May will be interesting to watch develop. As always, Good Luck & Trade Safe.
by InternalTraderNYC
7
The Euro Bull sharpening it's horns against the USD?After further analysis on the weekly and monthly chart, I have identified what looks like a much larger broadening bottom pattern which signals the possibility of much further U.S. Dollar weakness. Based on my previous video analysis, my original target for the EUR/USD was 1.2000 however 1.2500 – 1.3000 is not out of the question now. We haven’t traded in that price range since 2014. In the immediate term, we could see a bullish acceleration if we begin trading cleanly above 1.1500. I will expand on this analysis in my next upcoming weekly video. Good Luck & Trade Safe.
Long
by InternalTraderNYC
2
Weekly Trade Planning SessionIn today's session, I will be analyzing the USD/JPY, GBP/USD, CAD/JPY, and EUR/USD pairs. The framework I follow includes: Portfolio selection Currency ranking Multi-timeframe analysis. Below is the portfolio selection for this week: AUD/CAD: Bearish (-5%) AUD/JPY: Bearish (-59%) AUD/USD: Bullish (17%) CAD/JPY: Bearish (-54%) EUR/CAD: Bullish (16%) EUR/JPY: Bearish (-38%) EUR/USD: Bullish (38%) GBP/JPY: Bearish (-17%) GBP/USD: Bullish (59%) USD/CAD: Bearish (-22%) USD/CHF: Bearish (-63%) USD/JPY: Bearish (-76%) Happy Trading!
by Charts247TradingAcademy