Get started

Loonie

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
USD/CAD (A quick run up to this level is possible)View On USD/CAD (14 Apr 2019) First: NA Back Ground: We are in the tough rangy condition since the early of May. We can expect the quick rush to 1.346 first. Target(s): 1.346 (TP1) SHTF: 1.335 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.
by SonicDeejay
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
by FX618Analysis
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
by FX618Analysis
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
Short
by FX618Analysis
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
Short
by FX618Analysis