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USD/CAD FALSE BREAKOUT AND CLEAR DIVERGENCECanada's inflation rate stays at an 18-year high of 4.7% on Wednesday. The data point released by Statistics Canada on Wednesday morning was in line with economist expectations, tying October's level, which was the highest inflation rate since 2003. Inflation rates are soaring around the world right now, as the combination of record government spending, supply chain disruptions, and a surge in demand for consumer goods has caused prices to rise quickly. USD/CAD is currently at a 3-month high level and on a key resistance level. Also, it is on a few spots before 1.3000. Yesterday the currency pair makes a fall breakout of the key resistance level and close below 1.2882. The traders' sentiment stays unchanged and more bulls on the market are prevail but the bears are waiting to see how the price will react from these levels. On a daily chart, they notified clear bearish divergence confirmed on MACD and RSI oscillator indicators. If the price drop below 1.2754 it would be a clear signal that the bearish divergence is confirmed and probably more bears would be activated on the market. If the price starts to fall it can reach price levels around 1.2625 or lower to the key support around 1.2300. If this level doesn’t stop the price from falling we can see the drop to the key psychological support level around 1.2000. If the bull sentiment on the market remains unchanged and the price break through the current price level again and stay above, it is possible to see the 1.3000 level be reached very soon. Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carry a high-risk level. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and such sites. Furthermore, one understands that the company carries zero influence over transactions, needs, and trading signals. Therefore, it cannot be held liable nor guarantee any profits or losses.
by legacyFXofficial
Wait for a bearish reversal signal with USDJPYH4 time frame. Structure: The uptrend was broken at Key level 113,000. The price is retracing to the 50-61 Fibo zone of the previous down move. At the price range of 114,000 - 114,400, waiting for a bearish reversal pattern to form, there may be selling opportunities. Profit target is the price zone 111,700. ----------------------------------------------------------------------------------------------- Wish you all have a good trading day!
Short
by tradafx
1
Wait for the breakout signal and buying opportunity with EURCADH1 time frame. Structure: Uptrend. The price is currently moving in the sideway from 1.44000 to 1.45500 and retesting the Key level of the previous downtrend. Wait for the price to confirm a rise above 1.45500 and appear bullish continuation candlestick patterns, then you can find buying opportunities. The profit target is the 1.47700 price zone. ----------------------------------------------------------------------------------------------- Wish you all have a good trading day!
Long
by tradafx
AUDUSD: BEARISH CHANNELING, SELL OPPORTUNITY ON AUSSIE?Hello Enthusiast Forex Traders! Here's long-term outlook for AUDUSD , Please give us the thumbs up and support the channel by Smashing the FOLLOW button :) AUDUSD Created a wide rage bearish channeling. Afterwards, AUDUSD has broken out of the pattern that indicated a potential bearish movement.The MACD already crossed downward below the zero area, it signify a probability of potential bearish bias in the near future. The roadmap will be invalid after exceeding resistance/target area. DISCLAIMER: This is only an outlook, not a recommedation to buy or sell the forex pairs.
Short
by financialfreedomgoals101
2
Wait for confirmation signal and sell opportunity with NZDCADH1 time frame. Structure: Downtrend. After forming a double top reversal pattern with divergence signal, the price broke the Key level at 0.87000. Wait for a retest and a signal to confirm the return of the downtrend, then you can look for selling opportunities. The profit target is the 0.86500 price zone. ----------------------------------------------------------------------------------------------- Wish you all have a good trading day!
Short
by tradafx
Wait for confirmation signal and sell opportunity with BTCUSDH1 time frame. Structure: Downtrend. After the price broke the Key level at 59000, there was a move to retest. With the current retest zone, the price has formed a triple top reversal pattern and a divergence signal appeared. Wait for the confirmation signal, then you can find an opportunity to enter a sell order. The profit target is the 51000 price zone. ----------------------------------------------------------------------------------------------- Wish you all have a good trading day!
COINBASE:BTCUSDShort
by tradafx
A divergence and key level break signal appeared with USDJPYH4 time frame. Structure: Uptrend. After showing a divergence with the MACD and a double top pattern, USDJPY price broke through the Key level at 112,700. Waiting for the price to return to the 50-61 Fibo value zone of the strong down move at 114,500 and a bearish reversal signal will appear, then we can look for selling opportunities. The profit target is the 112,000 price zone. ----------------------------------------------------------------------------------------------- Wish you all have a good trading day!
Short
by tradafx
1