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Loonie

USD/CAD ASCENDING BREAKOUT!Price Action (Technical Analysis): We see Sellers are beginning to gain confidence as price was rejected when entering our Resistance Zone. It is common to see Price Copy its Previous Pattern, we seen price attempt in the same pattern to break our Weekly Resistance and instead brought back down, Buyers are attempting to break above one more time but from what I see, price broke out of the Weekly Bullish Trend and i'm anticipating price to pull back before continuing short. Fundamental Analysis: Buyers and Sellers are very attracted to this Currency Pair especially after the recent week we just had with Major News all week. US Border Talks are causing a High Volatile Market with Investors high interests in Commodities + Safe Havens also due to the stirred pot of news last week that brought a lot of uncertainty.
Short
by RiosTrades
USD Strength to come? Ichimoku USD/CAD Long Trade SetupThis pair has been holding it's bullish run, despite it being a bit slow to the upside. At the end of last week broke below tenken sen support so my eyes are now shifting to watch the price interaction at kijun sen. I am watching for a good support candle to form at or near kijun for a chance to get back long, aiming overall for previous price structure highs. I've drawn out some partial take profit levels along the way. If we fail to hold support at or near kijun sen, this setup may become invalidated.
Long
by The808Trader
GBP/CAD sets up >1000 Pip Play! *Yellow MA = 200 EMA | Blue MA = 100 EMA In this video, I go over the approaching support level for OANDA:GBPCAD and the potential play to the top of the consolidation box set after the reversal we see from January 2016 - October 2016. A play from the support to resistance is well over 1000 pips and has two different opportunities: 1. We bounce off of more recent support 2. We bounce off of all-time low I'm looking for both options to play to the top of the box and move price action within that same range again. This support is extremely strong and could lead to a very profitable play, especially since the RSI shows us the pair is oversold with bullish divergence, characteristics of previous plays in this zone. The resistance I outline is from old support and fib levels, but both this resistance and fib levels have been broken on previous bounces off the same support. Good luck traders!
Long
by olympus_trading
3
NZDCAD Counter trend trade 5:1Possible buy on the NZD CAD We have sideways price action, followed by a burst to the upside AND a large wick rejection on the bottom, this implies to me there were alot of buying positions accumulated in that sideways motion, The most amount of volume occured at .8675 which is where I will be looking to buy at. We may not get a spike up to our take profit, I will be monitoring for early signs to close out since we are in a downtrend. Be one step at a time, we need to so how it reacts at the entry first. 13 pip stop, might be a little to tight.
Long
by elevatedinvestor
Loonie Crosses and BoCBy Andria Pichidi - July 10, 2019 Bank of Canada’s announcement is expected to result in no change in rates and a repeat of the data-driven mantra. Given that recent data has been consistent with their ongoing view that the economy is on the mend from the Q4/Q1 weakness, the takeaway should be for continued steady policy through year end. For example, the latest data was yesterday with Canada’s housing starts and permits showing a well-supported market through mid-year. Housing starts surged 24.8% to 245.7k in June after falling to 196.8k in May from 230.7k in April. The “trend” in housing starts (6-month moving average) improved to 205.8k in June from 200.5k in May. Meanwhile, the separate permit value measure plunged 13.0% in May after jumping 16.0% in April. The BoC also releases the Monetary Policy Report alongside the announcement, followed by Governor Poloz’s usual Q&A with the press. While the Fed and ECB have leaned dovishly recently, spurring market hopes for more easing, we do not expect the BoC to join the club. Recent economic data has come in close to the BoC’s expectations, tracking an improving economy. Trade uncertainty remains a hefty source of downside risk, but it is also a potential upside risk too (if/when the US and China finally reach an agreement). The currently accommodative policy setting is providing ample stimulus to an economy that is well into the recovery phase. Economic data is housing related this week. Currency Market USDCAD rallied to 1.3140 yesterday, up from last week’s lows of 1.3036. The move came on general USD strength, which has been maintained since last Friday’s US jobs report, and on the lack of Oil price follow through gains. In June the USDCAD has dropped by nearly 530 pips, however in the long-term picture is following an upwards path, since August 2017 from 1.2060 lows. Despite June’s underperformance, the latest weekly doji candle along with the bounce this week above 200-week SMA, spread some hopes for a potential recovery of the pair. However, this scenario hasn’t been confirmed yet. A reversal to the upside could be suggested only if a morning star pattern is formed along with a move above 50-day SMA at 1.3240. Support holds at the bottom of the weekly channel and the June’s low at 1.3036. Intraday, Resistance holds at 1.3045-1.3060 (9-day high and 23.6% Fib. since May 31). Support is set at 1.3100. The daily technical indicators are weak, as RSI and MACD have been configuring below neutral, however, they present slight strengthening of positive bias as RSI is at 40 from 31 low and MACD lines are above signal line. USDCAD weekly and Daily AUDCAD, on the other hand, broke the 8 years’ Support at the 0.9100 level, as bears look to be in full control this year. Currently it extends its Bollinger Bands further to the downside in the medium and long term charts, below 20- , 50- and 200-month SMA. Meanwhile, technical indicators have been negatively configured, as negative bias seems to get stronger and stronger. All the above suggest that the pair has a lot of downwards path to cover, while the break of the 0.9100 level opened the doors towards 2010 lows. AUDCAD Monthly and Weekly CADCHF has continued moving lower for a second consecutive day after the peak seen at 0.7611 on Monday. The move came in general on the anticipation of BoC statement. Overall, the CADCHF’s lookout remains positive with RSI sloping above 50 the past 2 weeks, while MACD spiked well above signal line within the positive territory. This suggests further positive bias in the medium term. In the near term meanwhile, the 2 days’ weakness looks to be a correction on the sharp rally seen since June 25, as the asset holds well above 20-, 50- and 200-day SMA but also the midpoint (50% Fib level) of the 2-weeks’ incline. Support holds at 0.7535-0.7545 intraday and Resistance is set at 0.7572. CADCHF Daily Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in Leveraged Products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
Short
by HotForex
1
AUDCAD: 9-year low ready to host the pair?By Andria Pichidi - June 13, 2019 The Dollar has held net steady versus the Euro and Yen, paring intraday losses in the case against the latter, while AUDCAD dropped quite sharply amid the juxtaposition of record lows in Australian sovereign debt yields and a Loonie-supporting 2.5%-plus rally in oil prices. AUDCAD was showing an over 0.6% loss heading into the New York interbank open, earlier printing a 5-week low at $91.86. The Aussie buck was dented by the yield on 3-year Australian sovereign debt dropping below 1% for the first time ever, while hopes that the US and China will resolve their differences have been fading, which is a big concern for the Aussie. The lack of a planned senior-level meeting between US and Chinese officials ahead of the G20 summit in Japan is starting to cause investor consternation, boding ill for there being any meaningful progress at the summit itself. The Loonie, meanwhile, benefited as crude prices rallied, with USOIL almost completely reversing yesterday’s dive in posting a high at $53.10, up nearly 4.5% from yesterday’s low at $50.72. News that two oil tankers have been damaged following a suspected attack in the Gulf of Oman drove crude higher. Despite the unexpected jump of oil, the asset remains in an overall bearish outlook since end of April. Hence only a break of the $57-57.50 area could raise hopes for strengthening of the positive bias. Turning back to AUDCAD, the strength of Loonie and the weakness of Aussie drift the pair to a 6-month low, while it is in the third consecutive month of downwards movement. The overall bearish outlook of AUDCAD looks to hold strongly, as the day, weekand month lower Bollinger Bands patterns extended southwards and momentum indicators are negatively configured. Hence as the technicals support the continuation of further collapse, the October 2018 low now looks even more possible than before. The move is well on course for a retest of the 0.9170 immediate Support level (October-December 2018 low), while given the strength of the negative momentum run (bearish cross in MACD and RSI at 30), the 0.9100-0.9120 Support area which is nearly 9 year’s low, seems to have been already opened. Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in Leveraged Products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
Short
by HotForex
LOONIE (CANADIAN DOLLAR INDEX) (CXY) DAILY TIMEFRAME SHORTThe Loonie index is currently moving in a downtrend, as shown by the lower highs and lower lows on the daily timeframe. This is also in sync with the commodities markets (crude oil, well and even gold), which have been experiencing bear pressure lately. It is no secret that currencies like the Loonie (Canadian dollar), Aussie (Australian dollar) and the Kiwi (New Zealand dollar) are driven by commodities. The outlook of the commodities market can give us a bias towards these currencies especially if their movements are in harmony. If the index can break above the 75 price level, then we could see a potential bull run. For now, our bias remains bearish with potential targets around the 72 price level.
TVC:CXYShort
by munyaelliott