The price is falling towards a support which is an overlap support and could potentially rise to our take profit. Entry: 1.3665 Why we like it: There is an overlap support level. Stop loss: 1.3621 Why we like it: There is a pullback support level which aligns with the 127.2% Fibonacci retracement. Take profit: 1.3730 Why we like it: There is a pullback...
It seems the Bulls are handling USD/CAD. USD yield is hitting currencies with lower yields. Of course, CAD has nothing to present much versus USD. Also, the price makes higher highs and higher lows, moving in a 5-wave impulse. Our technical view has been shown in the chart. If you like it then Support us by liking, Following, and Sharing. Thanks For Reading Team...
The Loonie (USD/CAD) has bounced off the pivot and could rise to the 1st resistance which is a pullback resistance. Pivot: 1.3678 1st Support: 1.3643 1st Resistance: 1.3754 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...
The USD/CAD pair is edging higher on Wednesday, currently trading around the 1.3687 mark. This upward movement comes as the US Dollar (USD) strengthens, bolstered by commentary from several Federal Reserve (Fed) officials. Their statements collectively suggest that the US central bank remains reluctant to cut its main interest rate, the Fed Funds rate, due to...
Price is rising towards the pivot and could could potentially reverse from this level to the pullback support. Pivot: 1.3709 1st Support: 1.3678 1st Resistance: 1.3725 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...
The Loonie (USD/CAD) is rising towards the pivot which has been identified as a pullback resistance and could reverse to the 1st support. Pivot: 1.3684 1st Support: 1.3624 1st Resistance: 1.3705 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...
Hey Traders, in today's trading session we are monitoring USDCAD for a selling opportunity around 1.37400 zone, USDCAD is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 1.37400 support and resistance area. Trade safe, Joe.
Price is currently on a support level which is an overlap support an could potentially rise from this level to our take profit. Entry: 1.3699 Why we like it: There is an overlap support level. Stop loss: 1.3665 Why we like it: There is a pullback support level which aligns with the 100% Fibonacci projection. Take profit: 1.3764 Why we like it: There is a...
The Loonie (USD/CAD) is falling towards the pivot and could bounce to the pullback resistance. Pivot: 1.3701 1st Support: 1.3662 1st Resistance: 1.3765 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...
USD/CAD is rising towards a resistance level which is a pullback resistance and could potentially reverse to our take profit. Entry: 1.3781 Why we like it: There is a pullback resistance level. Stop loss: 1.3828 Why we like it: There is a pullback resistance level which aligns with the 78.6% Fibonacci projection. Take profit: 1.3684 Why we like it: There is a...
The Loonie (USD/CAD) is rising towards the pivot which acts as a pullback resistance and could reverse to the 1st support. Pivot: 1.3780 1st Support: 1.3684 1st Resistance: 1.3830 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...
USDCAD - 24h expiry The current move higher is expected to continue. Risk/Reward would be poor to call a buy from current levels. Short term RSI is moving higher. A move through 1.3750 will confirm the bullish momentum. The measured move target is 1.3780. We look to Buy at 1.3725 (stop at 1.3700) Our profit targets will be 1.3790 and 1.3810 Resistance:...
The Loonie (USD/CAD) is rising towards the pivot and could potentially reverse to the pullback support. Pivot: 1.3735 1st Support: 1.3664 1st Resistance: 1.3781 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...
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 1.3750, positioned close to the breakout level....
The USD/CAD pair has reached the 1.3780 area of resistance, signaling a potential reversal. This comes in the wake of a robust Nonfarm Payrolls (NFP) report for May, which dispelled fears of a weakening labor market. The report indicated strong labor demand across all sectors and higher-than-expected wage growth. Market Dynamics 1. Strong NFP Report: The...
Hello Traders, In today's trading session, we are closely monitoring USD/CAD for a potential selling opportunity around the 1.37200 zone. Recently, USD/CAD was trading in an uptrend but successfully broke out of this trend. Currently, it is in a correction phase and is approaching the key retrace area at the 1.37200 support and resistance zone. This level is...
USD/CAD is trending lower during the Asian session on Wednesday, currently trading around 1.3750. This recent movement follows a notable reversal from the 1.3790 area, where technical indicators suggested a potential change in direction. Technical Analysis From a technical standpoint, the USD/CAD pair exhibited signs of overbought conditions around the 1.3790...
Hi. I think short from this level is worth a risk. After incredible dollar strength on Friday and multiple sweeps, major pairs fallen into demand zones, and because of big long positioning on canadian dollar for commercial banks, I am expecting USDCAD correction. My safe target is 1.371 - and this is where I am planning to close the position for this week. Play...