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US-DOLLAR

USDCAD: Multi Time Frame Analysis & Trading Plan USDCAD is currently trading in a strong bearish trend . during the last few days, we saw a nice pullback though. friday's candle closed on a resistance line of a falling channel . matching with fib.levels of the last legs and a horizontal structure on the left, the price is now clearly trading within a strong structure resistance area. to catch a bearish continuation I would suggest being focused on a bearish flag formation on 1H. we need a 1H candle close below its support to initiate short. target levels: 1.332 1.326 stop will be above the last flag's high. in case of a bullish continuation above the underlined resistance cluster, setup will be invalid.
Short
by VasilyTrader
3
USDCAD: Multi Time Frame Analysis & Trading Plan USDCAD is currently trading in a strong bearish trend. during the last few days, we saw a nice pullback though. friday's candle closed on a resistance line of a falling channel. matching with fib.levels of the last legs and a horizontal structure on the left, the price is now clearly trading within a strong structure resistance area. to catch a bearish continuation I would suggest being focused on a bearish flag formation on 1H. we need a 1H candle close below its support to initiate short. target levels: 1.332 1.326 stop will be above the last flag's high. in case of a bullish continuation above the underlined resistance cluster, setup will be invalid.
Short
by VasilyTrader
12
USDCAD: Fib.Analysis & Key Levels it looks like USDCAD finally broke below the major rising trend line. sellers show their willingness to push lower. here are the next goals: 1.30 - 1.31 zone is the first support. it is based on structure and 618 of the major bullish weekly leg. 1.28 - 1.29 zone is the second support. it is purely based on structure. it looks like the market will soon reach one of these supports so we keep being bearish biased here. 1.33 - 1.34 is the closest resistance cluster. it is based on a broken trendline, horizontal structure and 50 of the major bullish impulse. because our key levels are quite wide, trade them only with confirmation on a lower time frame.
Short
by VasilyTrader
13
EURUSD: Candlesticks & Scenario For Next Week after 1 month long bullish rally on EURUSD, it looks like we finally see a strong reversal signal. on a daily, the price went rejected after an attempt to violate a key weekly resistance and the previous daily bullish candle was eaten by a strong bearish engulfing candle. in conjunction with rsi divergence, it looks like the market is ready for a pullback. for now, the first goal is 1.1625. it's based on the 382 retracement of the last bullish leg. I guess the price will need at least one week to reach that goal. please note, that it is not a sell signal. I would suggest looking for a safe entry on a lower time frame.
Short
by VasilyTrader
25
Dollar Breaking 9 Year Rising TrendlineThe dollar had the biggest weekly fall in 4 months and broke below a 22-month support level. At the same time, the dollar is also threatening to break below a 2-year rising trendline which could open the floor for more selling. In fact, the dollar is destined to fall since it broke below a 2-year rising channel. Of course, there are a lot of fundamental reasons to support a weakening dollar such a diminishing Treasury yield or a more risk-on market where the global economy is recovering from the pandemic other than the US's ever-breaking of a new high in the daily new COVID cases, as well as a surge in the death rate. The US and the dollar have surely disappointed the market big time due to the mishandling of the pandemic and allowing a relapse of such magnitude where the current figures of new COVID cases are more than a fold than the highest in April. The dollar is most likely to extend further downside but not without any pause or pullback. Once the dollar successfully breaks below the 2-year rising trendline, the next level can be seen at the 2-year demand zone sitting above 93.
TVC:DXYShort
by AlgoVenture
EURUSD: Fib.Analysis & Major Weekly Levels hey guys, EURUSD is now very volatile and easily breaks daily structure resistances. you may wonder when the market will stop. here just by the means of fibs. and structure I found key resistance clusters to look at. for drawing fib.levels I took major 2014-2015's bearish rally and 2017-2018's bullish rally. 1.16 - 1.18 is the first strong resistance cluster. it is based on a price action of 2015/2016/2017/2018 and fib. levels of the above-mentioned impulses. 1.21 - 1.22 is the second resistance cluster. it is based on a price action of 2017/2018 and fib.confluence of 0.5 and 0.786 1.245 - 1.26 is the third resistance cluster. it is based on a 5 year's high and 618 of the major leg. the market should at least stop within these levels and retracements will be highly probable. trade only with a confirmation on lower time frames.
Short
by VasilyTrader
19
EURUSD: Price Action & Scenario for Next Week EURUSD is trading within a rising parallel channel on 4H. the resistance of the channel was reached on Wednesday and the market set it's last higher high there. during the next two days the pair started to consolidate: with a sequence of three equal highs and two equal lows, the price is stuck in a narrow horizontal trading range. next week, with a high probability the price will retrace one more time from the horizontal resistance. then sellers will face with a buying pressure from a channel's and range's supports. consider this range for potential quick trades next week. to catch the next wave, I would suggest waiting for a violation of the range. we can not estimate how long the market will trade there, so it would be better to just wait. have a great weekend!!!
Short
by VasilyTrader
32
DOLLAR INDEX (DXY) Update & Important Decision Ahead!!! DXY is retesting summer's structure low. the price is currently consolidating within a narrow horizontal decision range. because the current trend is bearish, I am bearish biased on greenback. in case of a violation of the range to the downside, bearish rally will most likely continue. next goals will be: 95.4 - daily resistance 94.8 - year's low in case of a bullish violation of the range, USD may start recovering. 96.9 will be the first goal. for now it is hard to predict with high accuracy the next usd move, so let the market decide first and then just act accordingly.
TVC:DXYShort
by VasilyTrader
15
EURUSD: Year's High AHEAD!!! Key Levels & Scenarios EURUSD is approaching a key daily structure resistance. 1.15 is year's high, short rally from that level was just crazy in march. we don't know how the market will react this time, so we must be prepared for both scenarios: in case of a bullish violation of the underlined resistance (daily higher high higher close) the pair will most likely keep growing. next midterm resistances will be: 1.155 1.160 if the structure will be respected (some reversal formation on lower timeframes) the market may retrace. closest midterm supports will be: 1.137 1.130 of course, bias right now is bullish, but it is too late to jump in. let's patiently wait and see whats gonna happen.
Education
by VasilyTrader
18
USDCAD: Price Action & Trading Plan USDCAD is forming an inverted expanding triangle on 4H. the price respects a horizontal 1.361 4H structure support with equal highs, setting new lower lows after each test. yesterday the above-mentioned structure was reached again. the price has formed a bearish engulfing candle and was rejected. on 1H the price has formed a double top formation with a lower high, respecting a 1.3575 minor horizontal support. to trade with confirmation, I would wait for a bearish violation of a minor horizontal support (1H candle close below), then I would sell on a retest. target levels: 1.354 1.351 safest stop will be above 1.361 or a new lower high in case of its formation. good luck
Short
by VasilyTrader
1
USDCAD: Price Action & Trading Plan USDCAD is forming an inverted expanding triangle on 4H. the price respects a horizontal 1.361 4H structure support with equal highs, setting new lower lows after each test. yesterday the above-mentioned structure was reached again. the price has formed a bearish engulfing candle and was rejected. on 1H the price has formed a double top formation with a lower high, respecting a 1.3575 minor horizontal support. to trade with confirmation, I would wait for a bearish violation of a minor horizontal support (1H candle close below), then I would sell on a retest. target levels: 1.354 1.351 safest stop will be above 1.361 or a new lower high in case of its formation. good luck
Short
by VasilyTrader
22