Lonnie possible retrace towards the 1.2500 (Psychological Leve)USD/CAD just started a potential run toward the upward side of the market after taking a break from the hefty fall in price since 30th of September, the price resumed a retracement from 1.2290 monthly low, and it has been keeping the momentum steady.
Moreover, there is a possibility of the price rising to 38.2% fib level and by so doing, testing the previous support level at 1.2500, which the bears could possibly be using as a new resistance zone. Either way, the general overview of the market is BEARISH.
Lonnie
USD/CAD (The Bearishness shall unfold soon)View On USD/CAD (14 Apr 2019)
First: Please go read the write up on 11 Apr.
Back Ground: It is in the strong range mode since early March. Soon it shall show its real intention. I am expecting it to go down. As the oil potentially rise higher, it shall bring this pair down lower.
Target(s): DOWN 1.322 (TP1) , 1.310 (TP2).
SHTF: 1.365
DYODD, all the best and read the disclaimer too.
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USD/CAD (The bullishness of USD can pull this pair UP)View On USD/CAD (10 Feb 2019)
We had a quick run up and it may do some pull back for now.
But as long as 1.312 level is supported, we can swing up to 1.337 level again.
DYODD, all the best and read the disclaimer too.
Feel Free to "Follow", press "LIKE" "Comment".
Thank You!
Legal Risk Disclosure:
Trading foreign exchange or CFD on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor.
DISCLAIMER:
Any opinions, news, research, analyses, prices or other information discussed in this presentation or linked to from this presentation are provided as general market commentary and do not constitute investment advice. Sonicr Mastery Team does not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
AUDCAD 4H Chart: Pair ready to breach dominant channel A review was made for the Aussie pair, as the previously drawn pattern was broken. The currency pair has been volatile since the last time it was reviewed.
After reaching the 50.00% Fibonacci retracement level, the AUD/CAD pair made a U-turn north and has since been trading in that direction. This retracement can be measured by connecting the low at 0.9582 touched in December and the January high at 1.0008.
The currency exchange rate could continue trading in a channel up until it breaches the upper boundary of a dominant channel where the weekly R1 at 0.9987 is located.
USD/CAD Touched H&S target and many other things!USD/CAD had touched the H&S target (1.1639) which he formed between 2010 to 2012. Also in that area we have a channel line and 0.618% fib extension AND we can see very clear 5 waves move. Time for correction or reversal? I dont know. BUT we formed last week a evening star very beatiful but we need that confirmation which is a red candle this week at close. So lets wait! Another confirmation could be RSI breaking bellow the 70 line.