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Loonie

CADJPY Pullback?It seems exhausted and testing a minor supply zone of a higher timeframe. It doesn't seem favorable to call at the point for an Intra or swing perspective. May have some pullback if those big boys are happy about to book their half profit from last week long. No matter what the outcome be tonight for BOC but I assume everything has been priced in well at this point and price may work differently even if its positive release for loonie technically seems exhausted bull. What you all think to share you thought on loonie too if you had.
Short
by Anatta0
ORBEX:GBPUSD, EURUSD, USDCAD - Exit Or Extension? Trudeau Wins!In today’s #marketinsights video recording I analyse #GBPUSD, #EURUSD and #USDCAD! Another failed Johnson attempt to get Parliamentarians to vote supports the #pound as now chances of an extension increase! Both an October exit (highly unlikely) or an extension could see mainly #pound and in a smaller degree #euro gain. Meanwhile, in Canada Trudeau won the elections again! This is likely to weigh on technicals more as fiscals are going to remain unchanged.. Stavros Tousios Head of Investment Research Orbex This analysis is provided as general market commentary and does not constitute investment advice
by Orbex
LOONIE Likely to Test 1.31600 Level After Trendline Break!Hello Viewers, this is an instant trade signal! Therefore, please have a look at the main chart for the following vital trade details: • ENTRY POINT • STOP LOSS • TAKE PROFIT • RISK TO REWARD The setup may look simple but I can assure you it is NOT. There are various in depth technical and fundamental analysis incorporated behind the execution. I would very much love to explain these two aspects here but doing that would consume ample amount of time which could affect the appropriate entry point behind this trade! So, to keep it simple the main chart just displays the simplified technical view of this trade. My way of performing technical analysis basically starts by breaking down the monthly Timeframe down until the One Hour charts. The following are the aspects I focus most on when performing technical analysis: • Draw Support & Resistance through key common psychological levels on M & W Charts. This helps me to see where the price might stall or breakout. • Draw Trendlines to determine the dynamic support and resistance levels present on the charts. This helps me to determine where the price might stall and most importantly help determine the path of least resistance behind the active trade. • I also tend to use EMA 50 on all the Timeframes. This EMA 50 is proficiently proven to act as dynamic support and resistance and is vital behind all my analysis. • Lastly, I tend to use classic pivot levels to determine my entry, stop loss and take profit levels. The combination of this and all of the above helps me determine the precise and likely trade targets behind the setup. Another aspect of my way of analysis is reading a lot of news to determine the fundamental aspects affecting any trade. After the technical analysis is performed, I tend to match if the fundamental aspect really supports my technical analysis. Therefore, as you could see, putting all my thoughts here would surely take up a lot of time which could make the price drift away from the entry price thus affecting the Risk to reward ratio. I understand it is vital for many of you to know the details behind this trade setup, and so if you are interested you could send me message and I will try to share most of what I can! The Above words are just template I use in all my trades. Shall there be any updates I will provide them here. Thank you
Short
by FX618Analysis
ORBEX: GBPUSD, USDCAD: Surprise on the US-Sino and Brexix FrontsIn today's #marketinsights video recording I analyse #GBPUSDand #USDCAD FX Majors! GBPUSD records best day in months - Johnson-Varadkar see "pathway to deal" by end of October - Despite GDP and MAnufacturing data disappointed USDCAD down on tradewr optimism - Trump changed mind and now is open to a partial deal - Willing to and will meet He on Friday to resume talks - Cad stronger as oil supported by positive headlines (China is big oil importer) Looking forward to Canada's employment report! Stavros Tousios Head of Investment Research Orbex This analysis is provided as general market commentary and does not constitute investment advice
by Orbex
Update: GBP/CAD - 1000 Pips Achieved (More to Go)*Yellow = 200 EMA | Blue = 100 EMA This update is for OANDA:GBPCAD . I predicted (accurately) that price would find support at ~1.58165 , and it successfully rebounded off of this is level and has found resistance at ~1.65918 . We currently pushing off this resistance level and first found support around mid-August. The close on Friday (Sept 20th) is critical because it is a strong bearish candle with a relatively large tail looking similar to a bearish hammer pattern. This is printing on a resistance level which is both horizontal and diagonal. The horizontal is the standard resistance at ~1.65918, but the diagonal is a trendline drawn from peaks in Mid-January 2016, Mid-March 2018, and late December 2018. On top of that, price is attempting to cross the 100 EMA which can act as additional resistance. What to look for?: a) Tenkan-Sen and Kijun-Sen are on the rise along with a Kumo Flip. This is clearly bullish and could mean any resistance OANDA:GBPCAD is facing is minimal, and these 2 moving averages (Conversion and Base) could act as support on a retracement. b) Keep an eye on Fib Levels for support on a retracement specifically 0.382 and 0.5 - These levels have been used as support for retracements off this support in the past (January and September 2017). c) RSI(14) shows that this pair is still not overbought and could easily continue upward which moves in confluence with other factors which indicates only minor resistance. Good luck Traders!
Short
by olympus_trading
USD/CAD shaken after drone attackThe pair started the week with a wide gap following news about a drone attack on Saudi's Aramco which lifted oil prices and its correlated currencies such as the Canadian dollar. The fact that the pair hasn't been able to fill the gap around 1.3270 suggests that this up channel on hourly charts might break to the downside targeting 1.320, 1.3150 and below if the recovery of the oil market takes longer than expected. Keep an eye on the latest headlines regarding this incidence, and the FOMC on Wednesday. Good luck
by RamziAbouAbdallah-CMT
AUDCAD willing to long or short?!Loonie strength from the spike in oil prices and risk aversion sentiment likely pushing down the Aussie dollar. We actually saw the price above the 0.91250 last week but this morning on Asian session bears on the pair quickly jumped on that opportunity to short AUD/CAD once again. Going forward, volatility could stay up on AUD/CAD as we will likely continue to see further developments on the Saudi attacks, and we may even get help from upcoming economic updates from both Canada (manufacturing sales) and Australia (RBA meeting minutes & home prices). So, depending on how those economic updates flash out, we could see types of setups for both the bulls and the bears. If we're bear on this pair, there are a couple of technical setups to watch if the market environment stays risk-averse and bullish on oil prices. Strong resistance has formed around the (0.9125) area where price retested nearly before the European session. Seller dragged price lower once again. We’ve got to watch the broken older resistance area (0.9050). A break lower there would likely draw in momentum sellers in this environment, and the potential R:R would be attractive around the previous swing lows (0.8925). If we're bull on this pair, the short-term trend higher is in our favor and this pullback lower could be a fresh buying opportunity. If risk aversion sentiment fades and the Australian data comes out positive, then a break above the resistance (0.9125) is our cue to start working on a long position plan. The next potential resistance area July 2019 highs (0.9245), so the potential return-on-risk of a swing trade looks very attractive around that level. Cheers!
by Anatta0
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