Waiting for USDCAD sellEyeing a little more strength to be picking up in the USD. Just enough to push it close to the 1.33 level then tumble back down
Uscad
Bullish engulfing candle on USDCADAs you can see, today's candle is engulfind yesterday candle in a bullish manner. You can wait for the end of the day to confirm if the candle will remain bullish engulfing or like me go long and get out of the chart.
USDCAD bearish This pair has been channeling for a very long time within a bearish flag pattern.
This pair seems to be breaking out of the channel
Price has also tested the previous low.
A break and close below signals a move down.
Some conservative traders, will prefer a break and resets of structure
Wait for clear signal on long or short USDCADWait for clear signal on long or short USDCAD
Need a clearly signal to take action
USDCAD Bearish Momentum usdcad is on bearish momentum it is slightly making some price action candles, we can look a good bearish move after breakout this intra day trend line.
USDCAD Bullish Gartley on discountChance to get in cheap on the completed bullish gartley after the test of the X-point and structural support
Target AD .382 retracement
Stop below X
USD CAD @ Support, Stoch Go Long or ShortUSDCAD is at major support area. If Stochastic crosses up over TWENTY FIVE (Not 20, but 25), then go long. TP minimum 1.3000.
Big chance this currency pair can head down. If Stoch does not cross, consider analysis for a short.
GBPCAD Targets 1.95USOIL, COPPER, and the CAD are all at a major resistance right now and selling off. I'm expecting a small bounce in GBPCAD into 1.95, which is a big resistance area, retest of the trendline and the .382 fib area. Also, the MACD has just crossed over and flipped showing bullish momentum. Now that we've also broke the counter trendline I'm looking to buy at 1.90 stop loss at 1.89. Targeting 1.95 yielding a potential of 5:1.
Forex Market Analysis and Trading Tips - USDCADSUMMARY:
The secondary trend of USD/CAD is bullish on charts and price is trading above the trend line in its 4 hourly chart. In 4 hourly chart the price is sustaining below 200 day SMA and taking support of 50 day SMA indicating uptrend of the pair. It is having an important resistance at the level of 1.3997 and support at the level of 1.3883. If it breaks its resistance level on the upside and sustains above it then we can expect it to show further bullish movement in the pair.
INDICATORS:-
MACD is sustaining in its positive territory indicating the bullish trend in the pair.
RSI is sustaining in its buying zone indicating the upcoming bullish trend in the pair.
STRATEGY:
USD/CAD is looking bullish on charts for next few trading session. One can go for buy on lower level strategy for this pair for intra day to mid term positions in it.
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