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Loonie

Position Long From Weekly Fibonacci Support USD/CADSince the rally of late-June, the USD/CAD has been consistently falling. BoC tightening and WTI crude values have been primary reasons behind the move. As a result, several key technical support levels are coming into view. The 38% Fibonacci retracement of the yearly range (1.2950) is a fantastic place to go long in the USD/CAD. This will be a make-or-break area for this market. If it holds, a return to yearly highs are likely in the cards for the fall season. Here is the trade: 1)Entry: Buy 1.2960 2)Stop Loss: 1.2894 3)Profit Target: 1.3092 4)Risk vs Reward: 1/2
Long
by FXLeaders
GBP/CAD- One to pay attention toIt is just sitting at the low. It is in a downtrend and fib wise it can extend down more. You see the daily divergence. the weekly shows more room down. Considering it did such a simple WXY 3 wave correction, I would expect it to at least do a running flat if it is going to plummet... But it may even go into a much larger corrective structure. I am not going to give a buy signal on it right now, I will just say what I said, and to watch that .618 fib extension level if it were to keep dropping. A flat correction could be a lot of pips..... The reason I say to note that fib extension is because that is a swing area from the move down from top that is also relative to the 27% extension of the simple 3 wave correction that it did, which only retraced 50% if I remember correctly, which is enough. it is at a point that it is possible it could pull up from right here, but there is no confirmation of any price reversal. And I did post my long term CXY analysis, but Cad does have a zone that it can correct further into. But wait for some sort of confirmation or watch those levels.
by thillygoosth
2
Loonie/USDCAD - First Short, Later LongThe USDCAD is in my opinion in a WXYXZ formation. There, the loonie is already in the X2 and should form a abcde correction. This is already in the final stages and should fall within the e at least 1.25 or lower, which is a very good move for a currency pair. At 1.20, the e and thus the X2 could find its end. Once this has taken place, a strong devaluation of the loonie should not surprise and advance to within the range of 1.60 in the next few years. Your rating is important to me, so like it and questions, positives, criticis and counter-suggestions in the comments. greeting Stefan Bode - Hanover, Lower Saxony Invest money, investment, yield, interest, dividend, investment, save money, buy stocks, stocks, trading, trader, convertible bonds
Short
by StefanBode
USD/CAD Analysis (July 2018)This will be my views of USD/CAD for July 2018 Please make sure to read the "update" comment as there will be changes along the way. Cheers. S0nic Disclaimer: The information contained in this presentation is solely for educational purposes and does not constitute investment advice. We may or We may not take the trade. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation. We, Sonicr Mastery dot com is not responsible for any liabilities arising from the result of your market involvement or individual trade activities.
by SonicDeejay
5
USD/CAD – Ascending Triangle to PlayI would also like you to notice the ascending triangle pattern which is providing resistance at $1.3350. The ascending triangle patterns indicate the bullish bias of traders and typically break on the upper side. The USD/CAD can find an immediate resistance near $1.3285 and $1.3350. The violation of $1.3350 can lead commodity currency towards $1.3550. Ahead of the news, I will be looking to stay bullish above $1.3235 with a stop below $1.3200 and a take profit at $1.3280 and $1.3355. Good luck and have an awesome weekend!
Long
by FXLeaders
Shorting Year Highs, Daily Double Top In The USD/CADThe USD/CAD is on the march north, smashing resistance on its way to a test of the 1.3275 handle. Traders have jumped on the USD’s bandwagon and even an early-session bullish breakout in WTI crude oil was no help to the CAD. Now, it appears that fresh yearly highs may be in the cards for the Loonie. Shorting the daily double-top pattern at 1.3385 may come into play by week’s end. Until then, I have sells in queue from 1.3381. With an initial stop at 1.3406, this trade produces a clean 25 pips using a 1:1 risk vs reward management plan.
Short
by FXLeaders
Scalping Opportunity In The USD/CAD From Beneath 1.3200The recent slide in WTI pricing has not been kind to the Canadian dollar. However, last week’s hawkish move from the BoC has helped the Loonie hold its own against the USD. Today's bullish pressure may bring a short from just beneath topside resistance near the 1.3200 handle into play. Here is the plan: 1)Entry: Sell 1.3196 2)Profit Target: 8-12 pips 3)Stop Loss: 8-12 pips, depending upon profit target 4)Risk Vs Reward Ratio: 1/1 The USD/CAD is trending higher on intraday timeframes as WTI crude falls beneath the $67.50 handle. A moderate profit target is the best idea against the intraday trend.
Short
by FXLeaders
Loonie gonna push higher against the news?USDCAD is finding some support for now but BOC (Bank of Canada) gonna increase CAD rate by 25 basis points to 1.5%, presumably this will cause USDCAD to drop heavily, so technical & fundamental do not agree and I'll enter with half the usual risk on this one. There is some chance that the news is priced in or monetary policy statement would not imply strong cad, all in all a mixed news or no increase at all. The last one will explode the USDCAD to the upside as it is unexpected. BOC might go for a weaker CAD as there is some trade tensions rising between US & Canada to minimize the effect of US tariffs on Canadian exports.
Long
by Financial_Freedom
1
USDCAD Pulls Back to SupportLast post: June 22nd. See chart . Review: Price was suggesting indecision and a possible pullback in the bull trend back to retest resistance-turned-support. Update: Price did indeed pullback and is today suggesting a possible I B setup. Conclusion: We will wait for the daily closing price and then let our community know if a pullback setup is appropriate or we need to wait for the BO. Any comments or questions, do not hesitate to leave them below. Give us the thumbs up if you share our sentiments! Sublime Trading
Long
by Sublime_Trading
4
Indecision on The USDCADLast post: June 20th. See chart . Review: Price had broken through and established a bull trend above the March high. Update: Recent indecision in the market suggests the much needed pullback is a possibility. Conclusion: Standing aside and letting price dictate a pullback or a trend continuation. A pullback is preferable. Any comments or questions, do not hesitate to leave them below. Give us the thumbs up if you share our sentiments! Sublime Trading
Long
by Sublime_Trading
2
The USDCAD Breaking Out Above 1.3000Last post: March sixth. See chart . Review: Price had broken through the daily 200sma but was faced with resistance at 1.3000. Update: Price did a pop and drop above 1.3000, pulled back to the daily 200sma and since April, price has been bullish and has now broken March resistance. Conclusion: Applying patience and waiting for the right opportunity to enter long trades with is also dependent on the DX!1 . Any comments or questions, do not hesitate to leave them below. Give us the thumbs up if you share our sentiments! Sublime Trading
Long
by Sublime_Trading