USDCAD!!! -- 2 BIRDS W/ONE STONE 🐦🐦USDCAD sell trade is to fill the wick of yesterday's daily candle, which closed bearish. Also noted was a false break below 1.36112, which is where our 2nd trade (add-on) would be initiated. With a 1.3545 target, that would bring our total trade to +5.5%. Good luck!
~ Happy Trading, Cheers! 💰
Usd-cad
USDCAD to find buyers at market?USDCAD - 24h expiry
Previous support located at 1.3570.
Previous resistance located at 1.3600.
Indecisive price action has resulted in sideways congestion on the intraday chart.
Momentum is flat, highlighting the lack of clear direction.
We have a 61.8% Fibonacci pullback level of 1.3525 from 1.3640 to 1.3570.
Risk/Reward would be poor to call a buy from current levels.
We look to Buy at 1.3555 (stop at 1.3520)
Our profit targets will be 1.3645 and 1.3665
Resistance: 1.3600 / 1.3650 / 1.3675
Support: 1.3570 / 1.3550 / 1.3525
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The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy.
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USDCAD Sell this Fibonacci testUSDCAD is trading inside a Triangle with the price rising after it last hit the pattern's bottom (Rising Support).
It has failed to close over Fibonacci 0.618 on six straight days.
This failure is a technical sign of trend weakness, very much alike the struggle on Fibonacci 0.618 last December.
Sell and target the Rising Support again at 1.33550.
Previous chart:
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USDCAD to find support at market 61.8% retracement?USDCAD - 24h expiry -
Previous support located at 1.3525.
Previous resistance located at 1.3600.
The corrective move lower has stalled overnight and reacted higher from in front of the 61.80% Fibonacci retracement of 1.3525.
We expect a reversal in this move.
A move through 1.3560 will confirm the bullish momentum.
We look to Buy at 1.3530 (stop at 1.3490)
Our profit targets will be 1.3630 and 1.3650
Resistance: 1.3580 / 1.3600 / 1.3700
Support: 1.3525 / 1.3500 / 1.3475
Risk Disclaimer
The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy.
Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
USDCAD Potential UpsidesHey Traders, in the coming week we are monitoring USDCAD for a buying opportunity around 1.346 zone, USDCAD was trading in a downtrend and successfully managed to break it out and now seems to be in a correction phase in which it is approaching the retrace area at 1.346 support and resistance zone.
trade safe, Joe.
USDCAD can make a new high 🦐USDCAD after the recent low started a bullish impulse to the 4h resistance.
The price on the daily and weekly chart show an increasing bullish pressure and the main treend remains long.
According to the Plancton's strategy IF the market will break above we can set a nice long order.
USDCAD: Time to Go Lower 🇺🇸🇨🇦
As I predicted, USDCAD dropped yesterday.
It turned out that the price managed to form a bearish engulfing candle on a daily time frame,
a support line of a rising parallel channel was broken on a 4h time frame then.
I believe that the pair may go lower.
Goals: 1.357 / 1.3533
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USDCAD - Bulls Took Over, Now Wait For Bears!Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
As per my last analysis (attached on the chart) USDCAD rejected our lower red trendline and green support, and traded higher.
Now USDCAD is approaching the upper red trendline so we will be looking for sell setups on lower timeframes.
Moreover, the red zone is a strong supply.
🏹 So the highlighted purple circle is a strong area to look for sell setups as it is the intersection of the red supply and upper red trendline. (acting as non-horizontal resistance)
As per my trading style:
As USDCAD approaches the upper red trendline and zone, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...)
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
USD/CAD bulls eye 1.3700A strong bullish trend has developed on the 1-hour chart of USD/CAD, which is underscored by its timely yet shallow retracements. It's found support along the 10-bar EMA to show bullish momentum is increasing and the OBV (on balance volume) is trending higher with prices.
A retracement has also found support around the weekly R1 pivot and the high of a prior bullish engulfing candle, whilst holding above the daily pivot point.
The bias is bullish above the daily pivot and for a rally towards 1.3700, with the daily R1` and weekly R2 pivot providing potential targets for bulls just below 1.3700.
USDCAD Potential UpsidesHey Traders, in tomorrow's trading session we are monitoring USDCAD for a buying opportunity around 1.347 zone, USDCAD was trading in a down trend and successfully managed to break it out after the market have priced another rate hike due to recent fed speech, so technically we will be watching a potential retrace of the trend from 1.347 support and resistance zone.
Trade safe, Joe.
USDCAD Potential UpsidesHey Traders, USDCAD was trading in a downtrend and successfully managed to break it out after a bunch of fed hawkish comments about the monetary policy, Fed Waller the last week mentioned that inflation is still a concern and fed still has to act, and this week we had another intervention from fed Williams confirming and pointing on the same thing mentioning inflation is still way too high so that make us expect another rate hike on early May that should trigger USD strength in the medium term. Technically we will be watching a potential retrace of the trend from 1.33 area.
Trade safe, Joe.
USDCAD BullishThe USDCAD ended its downtrend by breaking the downward trend line since March and the resistance level around 1.342, as well as the 100 and 200 moving averages on the hourly timeframe. Since this pair tends to move within price channels, it can be said that the price is now heading towards a third peak in the local upward price channel at the level of 1.347/49. After that, it may bounce back to create a new base at 1.342, where it will also test the support level and Fibonacci 23.6%.
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USDCAD...UPTREND (3D/3H) ✨ PART II00:00 Annoyed That I Took Profit
01:10 My Sell Positions
01:35 Demand Zones and Immediate Retest
01:58 Shaving and Taking Profit
02:33 Follow, Join, Boost, and Comment
As anticipated, Price Action for our Buy Position has reached Supply and now we're ready to short this thang again.
(2) SLO2 @ 1.3440
(1) SLO1 @ 1.3425
(3) TP1 @ 1.3395 (shave 25%)
(4) TP2 @ 1.3360 (shave 25%)
(5) TP3 @ 1.3305 (close all sell positions)
1 This video is reflective of the uptrend counter-trend trade that I took to go long towards this area of Supply
2 If PA (price action) pushes higher, then I have this second Sell Order pending
3 This Take Profit is giving me Intraday Trading vibes. This TP is just above a Demand Zone (90m)
4 3 This Take Profit is giving me Day Trading vibes. This TP is just above a Demand Zone (90m)
4 3 This Take Profit is giving me Swing Trading vibes. This TP is just above the distal wick of this Immediate Retest (90m)
USDCAD moving lower? 🦐USDCAD on the 4h chart after the expected bearish impulse retraced exactly at the 0.381 Fibonacci level.
The price is moving in an ascending channel that can also be seen as a bear flag.
How can i approach this scenario?
If the price will break below the lower trendline and the support we can set a nice short order according to Plancton's strategy
Or else we can see a possible scenario where the market retest the previous support now turned resistance at the 50% retracement and fro there we will look for an inversion.
USDCAD: Strong buy opportunity near the SupportThe USDCAD pair crossed under the 1D MA200 last week and is approaching S1 on a very bearish 1D technical outlook (RSI = 38.120, MACD = -0.005, ADX = 45.239). The two day bounce on the HL trendline and the fact that the 1D RSI hit the bottom of its Channel, constitute a short term buy opportunity targeting the 1D MA50 (TP = 1.35450). If a candle closes above the 1D MA50, we will buy again the breakout and target the LH trendline (TP = 1.37545).
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Bearish setup on USDCADHi Traders,
Check this out - USDCAD could start a fresh bearish momentum, after breaking of the bullish trend.
However, with the uncertainty on how heavy FED could bump dollar this is better wait on for a break below the Triangle pattern before looking for a better short trade entry.
That is what i will do, provided that we get a solid breakdown and retest of the "Pennant like descending Triangle".
Watchout
USDCAD Breakout and Potential RetraceHey Traders, USDCAD was trading in a downtrend and successfully managed to break it out after some hawkish comments about the monetary policy that have triggered USD strength. in today's trading session we are going to be watching a potential retrace of the trend from 1.335 support and resistance zone towards previous highs.
Trade safe, Joe.
USDCAD possible change in trendUSDCAD
Over the past month, the USDCAD has been in a steady downtrend. On Friday, we observed the swing moves and identified an internal high that could be used as a selling opportunity to continue the downward trend. However, due to recent market changes, we are now considering a potential shift in momentum towards an upward trend. This is because the market has shown a clear sweep of the low and a strong impulse to the upside, surpassing the nearest swing high moves. This suggests the possibility of a trend reversal. Therefore, we plan to sell into our extreme demand area and wait for a confirmation entry to further validate our assumption of a bullish shift in price.
We'll be closely monitoring market openings and price action throughout the week. If you find this analysis useful, let us know in the comments below and hit the boost button to show your support. Here's to a successful week of trading!
USDCAD Breakout and Potential RetraceHey Traders, in today's trading session we are monitoring USDCAD for a selling opportunity around 1.34 zone, USDCAD was trading in an uptrend and successfully managed to break it out after a bunch of soft USD data including NFP, CPI and PPI which signal a pause of rate hikes from the federal reserve. A dovish fomc should be bearish on Dollar and bullish for stocks and cryptos.
Trade safe, Joe.