USDCAD - About to PopThe USDCAD has been in a strong up trend since March 2018. Will see it move high as price begins coils before it pops as selling pressure drys up.
Loonie
USDCAD: Buy at DIPS near SUPPORTWill be looking at the PRICE ACTION near support. There are two SUPPORTS, one at 1.3380 and the other at 1.3338.
I will be looking for BUYs if price reaches these SUPPORT LEVELS and target 1.3520 as TP.
AUD CAD BUY (AUSTRALIAN DOLLAR - CANADIAN DOLLAR)Hi there. Price is forming a continuation pattern to the upside. Watch strong price action at the current price for buy.
USD CAD SELL (US DOLLAR - CANADIAN DOLLAR)Hi there. Price is forming a continuation pattern to the downside. Watch strong price action at the current price for sell.
USD/CAD can possibly go lowerIf we get a clear break and close below entry point, then I believe that correction is imminent.
CAD JPY BUY (CANADIAN DOLLAR - JAPANESE YEN)Hi there. Price is forming a continuation pattern to the upside. Watch strong price action at the current price for buy.
CADCHF Held By Trendlines! Where Would It Go Next?Have a look at the main weekly TF chart of this pair. Its a very tricky pair to trade if you look closely at it but if you look at the monthly TF, you will notice the price is rangebound for quite some years now. The red horizonatal lines represent the concrete support and resistance levels taken from the monthly charts.
From the main chart, it can be seen that the price is held by various trendlines. It would be hard to explain here what could potentially unfold but if you look at the main chart, you would understand everything more clearly!
On long term bias i am SHORT on this pair, but for weekly TF it could go anywhere but i believe LONG move upwards would be limited and the price would eventually come down and test the lower end of the range.
This just represents my analysis on this pair. shall the trade criteria meet i will post the details in a new post. cheers
NZDCAD Awaits Triangle Breakout Momentum To Start Trending!The main chart shows the monthly TF of NZDCAD pair from which it is visible that the pair is confined in a triangle. The red horizontal lines represents the concrete support and resistance levels drawn from the monthly charts. Should the triangle break (the monthly candle closing outside the triangle) we could potentially see the price target those red horizontal levels!
My view on this pair is neutral, which means the break to either side is a possibility. The trade war conflict i feel will likely decide the fate of this pair.
This just represents the analysis of mine on this pair. shall the trade criteria meet i will post the details in a new post
AUDCAD Monthly TF Perspective Analysis. Drop to 0.88000 Likely!The main chart shows the monthly TF picture of the AUDCAD pair. Here as seen the price is confined inside a triangle which has been respected on numerous occasions. Additionally the red lines represent the nearby support and resistance levels drawn from the monthly charts.
For A SHORT scenario to take place, the price must breach the triangle and the monthly candle must convincingly close below the 0.93000 support structure. After this has happened, we should await slight retracement before taking this pair short with the potential target being 0.88000 structure level.
On the flip side, shall the triangle breach to the upside the nearby 0.98000 level would become the immediate target in this scenario!
Fundamentally its hard to predict where this pair is headed. CAD driven by the prices of OIL and AUD's economy loosing steam with trade war also pilling misery on AUD and OIL prices. Its hard to predict at the moment but as time goes and the picture becomes more clear, it will be evident enough as to where this pair is headed.
This just represents my outlook on this pair. Shall the trade criteria meet in the future i will post the details in a new post. cheers
CADJPY Might Drop To 79.000 Should US-SINO Trade War Persists!The chart shows the weekly TF where the price is confined in a well respected triangle! The nearby red horizontal lines are the concrete support and resistance levels taken from the Monthly charts. Currently should the price break the triangle to the downside, we can expect the price to fall towards 79.000 level, On the flip side should the price break to the upside, the potential target here would be 87.000 and 91.500.
However, the current fundamental picture suggest a break to the downside is more favorable as the trade war fears are back in action and risk OFF markets are dominating. In the current state of the market we can expect the safehaven FX pairs to gain traction such as the JPY! Moreover, OIL which is closely related to the CAD pair looses steam in risk OFF markets as the global slowdown fear persists!. So taking all this into consideration, should the triangle break to the downside we can probably expect it to HIT 79.000 level
This just represents my analysis on this pair and should the trade criteria meet i will post the detail in a new post. cheers
CAD CHF SELL (CANADIAN DOLLAR - SWISS FRANC)Hi there. Price is forming a continuation pattern on lower time frame. Wait for the price to complete the pattern and watch strong price action for sell.
AUD CAD SELL (AUSTRALIAN DOLLAR - CANADIAN DOLLAR)Hi there. Price is forming a continuation pattern on lower time frame. Wait for the price to complete the pattern and watch strong price action for sell.
USD CAD SELL (US DOLLAR - CANADIAN DOLLAR)Hi there. Price is at the top of the pattern. Watch strong price action at the current price for sell.
USDCAD | Pushing Above Weekly Fibo Resistance, Targeting $1.40s?Weekly view:
PS. I've got a bullish view:
Where Will EURCAD Head Next? Weekly TF Perspective Explained!Have a look at the main charts, where the blue horizontal lines represent concrete support and resistance levels drawn from the monthly charts and they represent where the price might head next after the breakout occurs.
At the moment the price has been supported by an ascending trendline respected more than 5 times and a descending channel. Shall a breakout occur we could see the price test the nearby support or resistance levels (blue lines). Now thats the technical picture, fundamentally a break to the downside seems on the card as the EUROZONE faces slowdown and CAD supported by the rising OIL prices is making a move to the downside more favorable.
It remains to be seen what happens in the near future. shall the criteria meet i will post the trade details in a new post. This just represents my analysis and future outlook of this pair. cheers
BOC Decision LoomsAs it is expected that the Bank of Canada will leave rates on hold, traders are already on the move. Both CADUSD SMI and MACD are on the decline, indicating money and momentum moving out of the currency pair.
Furthermore, the pair has great difficulty breaking through its 10-Day EMA (green), indicating a lack of momentum to push prices higher.
CADUSD is moving lower, with the next stop at CADUSD = 0.7329534
Loonie in a descending TriangleBy Andria Pichidi
USDCAD, Daily
The Dollar majors have been plying narrow ranges in very thin conditions, with European centres remaining closed, along with Hong Kong and Australia, among others. The Euro lifted moderately,while USDJPY has been in directional stasis and Cable has remained settled near 1.3000.
However Antipodeans along with Loonie have been seeing some movement. USDCAD edged at 1.3355, with the Canadian Dollar firming concomitantly with a rise in Oil prices on news that the US is clamping down on curtailing exports of Iranian exports.
The bigger picture of the USDCAD though holds in the upside as the asset has been trading within an upwards channel for more than 2 years now. However the latest descending triangle, which has been identified in the daily chart since early March, is giving us some doubts regarding an upside movement at least in the near term. However the positive bias is supported not only by the 2-year up-channel, but also by the fact that the asset holds above 20-, 50- and 200-day SMA.
Hence, as overall bias remains strongly positive, a flip to the downside could be triggered on the break below the 1.3350 (confluence of 20-day SMA and also today’s low). This could suggest the retest of the 50-day SMA but also the bottom of the descending triangle, between the 1.3300-1.3318 area.
On the upside, the immediate resistance holds at Friday’s high, at 1.3392. Next Resistance is set at 1.3400, which is considered to be a strong hurdle as it coincides with R1 of the day, the ceiling of the triangle but also month’s Resistance zone which has been retested 3 times so far.
On the fundamental front, the Bank of Canada’s announcement (Wednesday) is the focal point of an otherwise thin calendar this week. A steady 1.75% policy setting is widely anticipated. As for the growth and inflation outlook, a repeat of the cautious optimism that has prevailed so far this year is expected. Recent economic data has been consistent with the BoC’s view that the expansion will resume in the second half of this year after the current “detour.” While the flow of data has, in our view, eliminated the previously slim chance of a rate cut this year, ample uncertainty over the growth and inflation outlook remains, keeping the outlook for steady policy intact. Our projection remains for a rate hike late in 2020.
In general, the focus this week will be on fresh signs that corroborate the return-to-growth picture in major global economies. A continuation of this theme would be supportive of currencies that performer with higher beta characteristics, such as the Dollar bloc units, while currencies of the low-yielding safe haven type, such as the Yen, would be apt to underperform.
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 FX and CFDs 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.
CAD CHF BUY (CANADIAN DOLLAR - SWISS FRANC)Hi there. Price is forming a continuation pattern to the upside. Wait for the price to hit the bottom of the pattern and watch strong price action for buy.
USDCAD Sell - Top of Sym Tri and Supply ZoneUSDCAD rebounded strongly yesterday after strong demand appeared at the bottom of a 1-month symmetrical triangle.
The price closed above the middle of the whole ranging structure signalling that the price may climb further.
The price is likely to climb higher with some remaining demand and will retest the top of the symmetrical triangle where the price will face with very strong resistance.
Wait for selling opportunity within the supply zone at 1.3420.
USD/CAD (What Do You Think?)View On USD/CAD (11 Apr 2019)
One of the challenges we face as traders is dealing with uncertainty. We all love the comfort of certain trades aka obvious setups.
The main problem is when the trade set up becomes very obvious, it is very likely that you are already late. Think about it and Do you still seek certainty?
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. No hurry. Take your time.
Target(s): 1.322, 1.310.
SHTF: 1.365
DYODD, all the best and read the disclaimer too.
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Thank You!
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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.
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The Loonie (2H): Head and shoulders - get ready. There's a nice li'le head and shoulders in there looking ripe to short. But there is some potential difficulty. Trading ain't easy - is it? Have a look.
