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Loonie

CAD/JPY 1H Chart: Channel DownCAD/JPY 1H Chart: Channel Down The Canadian Dollar is depreciating against the Japanese Yen in weekly descending channel, which started to form shortly after the currency exchange rate left the double top formation. By the moment, the channel has two confirmation points from the top and three from the bottom. The latest rebound happened after the currency pair slipped to the weekly S2 at 87.43. Since the channel has reached maturity, the rate might leave the formation already by the end of the day. However, the fact that during this whole week the pair was sliding along the 55-hour SMA, which neutralized multiple attempts to break to the top, suggests that a new rebound most likely is going to follow. Nevertheless, a release of a bunch of the Canadian macroeconomic data at 12:30 GMT might alter the above scenario and even accelerate the fall of the rate.
by UnknownUnicorn890690
CAD/CHF 4H Chart: Channel UpCAD/CHF 4H Chart: Channel Up The Canadian Dollar is appreciating against the Swiss Franc in the medium-term ascending channel. The pattern started to form shortly after the currency exchange rate left a descending triangle pattern and started to move in a new uptrend. For the moment, the channel is made from four confirmation points, which means that it has fully formed. But the fact that this formation took almost a month suggests that the upcoming dissolution might also take several weeks. In the short-run, the pair is expected to bounce off from a combined support level set up by the 55-hour SMA, the lower trend-line and the 100-hour SMA. t should be noted that both technical indicators have been moving along the pattern’s bottom edge and more than once forced the Loonie to make a rebound.
by UnknownUnicorn890690
USDCAD BUY THE PULLBACKHi everyone: MY last USDCAD trade post did not execute due to no breakout of the wedge. Today, we are seeing another opportunity on USDCAD Long. The price action has recently found support at key support area of 1.2500. Similar like my other post on GBPCAD, we are seeing some bearish momentum in the CAD and a pullback on the daily time frames are happening this week, On the 4 hr chart of USDCAD, a recent double bottoms and a breakout are all signaling a bullish momentum coming in. Entering at the higher low confirmation is a good idea for a daily pullback to 38.20% fib level. Thank you for your support and feedback.
Long
by jojofang0901
4
CAD/CHF LONG TO 7700!Canadian swiss franc has two major horizontal levels. Price action looks like it might break horizontal level upwards and range between 7300-7700. It's had a very nice bullish run this week, however, it is important to wait for the daily candle to close above the horizontal resistance. RSI has reset and still has more room to move upwards. It also broke the curve line and retested it. Nice crossover on the stoch as well. buy and lets aim for 7725.00. Ideas always welcome. Let me know what you everyone thinks.
Long
by minthooka
3
USDCAD WEEKLY OUTLOOKHi everyone: USDCAD has been on my watch for quiet some time now. WE can tell the daily chart is way over extended without a proper pullback/correction. In order for it to continue to drop, it must pullback and form another lower high to continue downward. In the next few weeks, expect a bullish pullback to around 1.2900 level, then we are all going to enter a short position for a long term. I will be interesting in a bullish pullback, but main focus is the short once price action form a lower high on daily. Keep an eye on any potential long trade this week or next. Thank you for your support and feedback.
by jojofang0901