Hey Traders, in today's trading session we are monitoring USDCAD for a buying opportunity around 1.36900 zone, USDCAD was trading in a downtrend and successfully managed to break it out. Currently is in a correction phase in which it is approaching the retrace area at 1.36900 support zone. Trade safe, Joe.
USD/CAD has reacted off the resistance level which is an overlap resistance and could drop to our take profit. Entry: 1.3755 Why we like it: There is an overlap resistance level. Stop loss: 1.3805 Why we like it: There is a pullback resistance level which aligns with the 38.2% Fibonacci retracement. Take profit: 1.3664 Why we like it: There is a pullback...
THE Loonie (USD/CAD) is reacting off the pivot and could potentially drop to the 1st support. Pivot: 1.3750 1st Support: 1.3663 1st Resistance: 1.3796 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so...
Here is my short trade trade for USDCAD. Price took out trendline liquidity and a swing high on a broader outlook. Now we have reversed, creating a Unicorn model and equal lows as a target. I am waiting for a retracement into this area to confirm a trade. I would look at the lower timeframes at that point to determine if price isn't poised to trade higher. - R2F
Hey Traders, in the coming week we are monitoring USDCAD for a buying opportunity around 1.38200 zone, USDCAD is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 1.38200 support and resistance area. Trade safe, Joe.
USD/CAD is rising towards the resistance level which is an overlap resistance that lines up with the 61.8% Fibonacci retracement and could reverse from this level to our take profit. Entry: 1.3839 Why we like it: There is an overlap resistance level that aligns with the 61.8% Fibonacci retracement. Stop loss: 1.3862 Why we like it: There is a pullback resistance...
The USD/CAD pair on the M30 timeframe presents a potential selling opportunity due to a recent downward breakout from a well-defined Channel pattern. This suggests a shift in momentum towards the downside in the coming Hours. Key Points: Sell Entry: Consider entering a short position around the current price of 1.3813, positioned close to the breakout level....
A more dovish fed receiving softer data has brought the USDCAD mostly on par over a longer period of time. The link between the two economies has helped form a very tentative downtrend over the last month. We are now arriving at Key Technical Price Action areas amid a clear downtrend. Swings entries/exits noted, likely to go inline with CB trajectory for the...
The USDCAD pair is on the 2nd strong green 1W candle, following the rebound on the 1W MA50 (blue trend-line) and is approaching Resistance 1 (1.39000), the October 30 2023 High. This is technically the most optimal sell opportunity on a 1-year basis. The short-term Target is the 1W MA50 (blue trend-line) on a potential contact with the 0.382 Fibonacci retracement...
Hey Traders, in today's trading session we are monitoring USDCAD for a selling opportunity around 1.37200 zone, USDCAD is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 1.37200 support and resistance area. We would also like to consider the current easing inflation in the US as fed is more likely heading...
The Loonie (USD/CAD) is falling towards the pivot which acts as an overlap support and could bounce to the 1st resistance which is a pullback resistance. Pivot: 1.3656 1st Support: 1.3632 1st Resistance: 1.3699 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading...
USD/CAD is falling towards the support level which is an overlap support that is slightly above the 38.2% Fibonacci retracement and could bounce from this level to our take profit. Entry: 1.36564 Why we like it: There is an overlap support level that is slightly above the 38.2% Fibonacci retracement. Stop loss: 1.36342 Why we like it: There is an overlap support...
USD/CAD is rising towards the resistance level which is an overlap resistance that aligns with the 50% Fibonacci retracement and could reverse from this level to our take profit. Entry: 1.3671 Why we like it: There is an overlap resistance level which aligns with the 50% Fibonacci retracement. Stop loss: 1.3706 Why we like it: There is a pullback resistance...
The USD/CAD pair on the H8 timeframe presents a Potential Selling Opportunity due to a recent breakout from a Triangle Pattern. This suggests a shift in momentum towards the downside in the coming Days. Possible Short Trade: Entry: Consider Entering A Short Position Below the Broken Trendline Of The Triangle After Confirmation. Ideally, This Would Be Around...
USDCAD - 24h expiry Price action has continued to trend strongly lower and has stalled at the previous support near 1.3600. Price action looks to be forming a bottom. We expect a reversal in this move. Momentum is flat, highlighting the lack of clear direction. Risk/Reward would be poor to call a buy from current levels. A move through 1.3625 will confirm...
The USD/CAD pair on the M30 timeframe presents a Potential Selling Opportunity due to a recent breakout from a Triangle Pattern. This suggests a shift in momentum towards the downside in the coming hours. Possible Short Trade: Entry: Consider Entering A Short Position Below the Broken Trendline Of The Triangle After Confirmation. Ideally, This Would Be Around...
USD/CAD is falling towards the support level which is a pullback support and could bounce from this level to our take profit. Entry: 1.3615 Why we like it: There is a pullback support level. Stop loss: 1.3591 Why we like it: There is a pullback support level which aligns with the 161.8% Fibonacci extension. Take profit: 1.3665 Why we like it: There is an...
The Loonie (USD/CAD) has reacted off the pivot which has been identified as a pullback support and could rise to the 1st resistance which acts as an overlap resistance. Pivot: 1.3620 1st Support: 1.3590 1st Resistance: 1.3667 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to...