USDCAD are you taking a break to sell?Hello traders, we found a downtrend on H4 usdcad accordingly with the structure that was broken. we have a fib level of 50 and 61.8 waiting to be tested to meet the sellers on this pair. It can possible generate a sell trade if, a bearish reversal candlestick pattern come through the zone of 50 and 61.8 fib closing bellow EMA.
Usd-cad
USDCAD Potential for bullish rise | 29th June 2022On the H4, with price bouncing off the stochastic support, we have a bullish bias that price will rise from our buy entry at 1.28647 where the horizontal pullback support is to our take profit at 1.30128 in line with the horizontal swing high resistance, 100% fibonacci projection and 78.6% fibonacci retracement . Alternatively, price may break entry structure and head for stop loss at 1.27189 where the horizontal overlap support, 61.8% fibonacci projection and 61.8% Fibonacci retracement are.
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USDCAD Potential for bullish rise | 29th June 2022On the H4, with price bouncing off the stochastic support, we have a bullish bias that price will rise from our buy entry at 1.28647 where the horizontal pullback support is to our take profit at 1.30128 in line with the horizontal swing high resistance, 100% fibonacci projection and 78.6% fibonacci retracement. Alternatively, price may break entry structure and head for stop loss at 1.27189 where the horizontal overlap support, 61.8% fibonacci projection and 61.8% Fibonacci retracement are.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
USDCAD, Potential Bullish RiseOn the H4, with price expected to bounce off ichimoku support, we have a bullish bias that price will rise from our buy entry at 1.28620 where the horizontal swing low support and 38.2% Fibonacci retracement is to our take profit at 1.30205 in line with the horizontal swing high resistance and 61.8% fibonacci projection. Alternatively, price may break structure and head for stop loss at 1.27177 where the horizontal pullback support, 61.8% fibonacci projection and 61.8% fibonacci retracement.
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USDCAD H4 Potential Bounce | 27th June 2022On the H4, with price expected to bounce off the stochastics indicator, we have a bullish bias that price will rise from our 1st support at 1.28647 where the horizontal swing low support and 38.2% Fibonacci retracement is to our 1st resistance at 1.30128 in line with the horizontal swing high resistance. Alternatively, price may break structure and head for 2nd support where the horizontal pullback support and 61.8% Fibonacci retracement.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
Outlook on USDCAD: Bearish play seenOn the monthly and weekly time frame, prices tested and reversed off a key resistance zone at 1.3080 with bearish order flow seen on the H4 time frame, as price broke the recent market low at 1.2920. On the H4 time frame, a pullback to the resistance zone at 1.300, in line with the graphical resistance level, 61.8% Fibonacci retracement and 61.8% Fibonacci extension presents an opportunity to play the drop to the next support target at 1.2750. This demand zone lines up with the 61.8% Fibonacci retracement and 61.8% Fibonacci extension levels. Stochastics is also facing resistance at 97.81 with bearish divergence seen which supports our bearish bias.
USDCAD DOWNTREND FORMATIONThe USD/CAD currency pair had broken the support of the Triangle chart pattern on the 4H graph, indicating a bearish movement for the instrument. That movement is also confirmed by the MACD and the RSI indicators.
If the movement continues, the pair will probably test its levels of 1.2773 On the other hand, if the price reverses, it might test its previous levels of 1.30005
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USDCAD UNDER PRESSUREAs we can see in the dollar-Canadian pair, there is a head and shoulders formed on the 4-hour frame, the neck was broken, but the price has not returned to test it. It is better to look for a retest and then enter selling for this pair. Next Thursday, we have important news on the Canadian dollar, which is the GDP. Let's see what this week has in store for us.
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Important rules:
1: Use a small lot
2: Don't be greedy
3: Stick to the goals
4: Don't add deals to losing trades
5: Stick to your stop loss
Good Luck To Everyone .
USDCAD moving higher 🦐USDCAD on the daily chart is trading below a weekly resistance.
I would expect some more bullish development and a test of the 1.33 area can be expected.
How can i approach this scenario?
I will wait for the EU market open and check for a possible break above the structure.
IN that case, i will search for a nice entry point according to the Plancton's strategy rules.
--––
Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
⚫️ Black structure -> <4h structure.
Here is the Plancton0618 technical analysis , please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger
USDCAD potential for drop! | 21st June 2022On the H4, with price expected to reverse off the stochastics indicator, we have a bearish bias that price will rise from our 1st resistance where the 50% Fibonacci retracement is to our 1st support at 1.28598 in line with the horizontal pullback support and 50% Fibonacci retracement. Alternatively, price may head for 2nd resistance where the horizontal swing high resistance and 161.8% Fibonacci projection is.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
USDCAD moving higher 🦐USDCAD on the daily chart is trading below a weekly resistance.
After the FED decision to increase the interest rates we can see some more bullish development and a test of the 1.33 area can be expected.
How can i approach this scenario?
I will wait for the EU market open and check for a possible break above the structure.
IN that case, i will search for a nice entry point according to the Plancton's strategy rules.
--––
Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
⚫️ Black structure -> <4h structure.
Here is the Plancton0618 technical analysis , please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger
USDCAD H4 Potential drop | 15th June 2022On the H4, with expected to reverse off the stochastics indicator, we have a bearish bias that price will drop to our 1st support at 1.27639 in line with the horizontal pullback support from our 1st resistance at 1.29710 where the pullback resistance and 78.6% Fibonacci retracement is. Alternatively, price may break structure and head for our 2nd resistance in line with the horizontal swing high resistance.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
USDCAD H4 Potential drop | 15th June 2022On the H4, with expected to reverse off the stochastics indicator, we have a bearish bias that price will drop to our 1st support at 1.27639 in line with the horizontal pullback support from our 1st resistance at 1.29710 where the pullback resistance and 78.6% Fibonacci retracement is. Alternatively, price may break structure and head for our 2nd resistance in line with the horizontal swing high resistance.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
USDCAD Potential bearish drop | 14th June 2022On the H4, with expected to reverse off the stochastics indicator, we have a bearish bias that price will drop to our 1st support at 1.27639 in line with the horizontal pullback support from our 1st resistance at 1.29019 where the pullback resistance and 61.8% Fibonacci retracement is. Alternatively, price may break structure and head for our 2nd resistance in line with the horizontal swing high resistance.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
USDCAD H4 Potential drop | 13th June 2022With price expected to reverse off the stochastics indicator, we have bearish bias that price will drop from our 1st resistance where the 61.8% fibonacci retracement is to our 1st support where the pullback support is. Alternatively, price may break and head to our 2nd resistance at 1.29710 where the horizontal pullback resistance is at.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.