As 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.
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 USDCAD Need a clearly signal to take action
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.
Chance 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
USDCAD 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.
USOIL, 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...
SUMMARY: 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...
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