USDCAD Strong sell following today's rejection.USDCAD is neutral on its 1D technical outlook (RSI = 50.081, MACD = 0.001, ADX = 32.778) as it formed a Lower High yesterday and today got sold aggressively. This is a Channel Down since the April 16th High, which having broken under the 1D MA50, has confirmed the continuation of the bearish price action. We expect the 1D RSI to at least hit the 30.000 level, as every rejection on the R1 Zone, saw the pair reach at least the 0.618 Fibonacci level. We are bearish, aiming at that level (TP = 1.34350).
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Usd-cad
USD/CAD has a strong bullish momentum, could it rise further?USD/CAD is falling towards a support level which is a pullback support that aligns with the 23.6% Fibonacci retracement and could bounce from this level to our take profit.
Entry: 1.3676
Why we like it:
There is a pullback support level which lines up with the 23.6% Fibonacci retracement.
Stop loss: 1.3653
Why we like it:
There is an overlap support level which aligns with the 61.8% Fibonacci retracement.
Take profit: 1.3717
Why we like it:
There is a pullback resistance level.
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
USDCAD: Weak DXY and Potential DownsidesHey Traders, in today's trading session we are monitoring USDCAD for a selling opportunity around 1.37000 zone, USDCAD is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 1.37000 support and resistance area.
Trade safe, Joe.
USDCAD is approaching the downtrendHey Traders, in today's trading session we are monitoring USDCAD for a selling opportunity around 1.36500 zone, USDCAD is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 1.36500 support and resistance area.
Trade safe, Joe.
USDCAD - Massive Support 🚀Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
📈 USDCAD has been overall bullish , trading inside the rising channel in blue.
At present, USDCAD is undergoing a correction phase, trading within the short-term falling channel in red, and it is currently approaching the lower bound of the channel.
Moreover, it is retesting a strong resistance turned support highlighted in green.
🏹 Thus, the highlighted blue circle is a strong area to look for buy setups as it is the intersection of the green support and lower blue/red trendlines.
📚 As per my trading style:
As USDCAD approaches the lower blue circle zone, I will be looking for bullish reversal setups (like a double bottom 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
Potential bullish bounce off overlap support?The Loonie (USD/CAD) is falling towards the pivot which has been identified as an overlap support and could potentially bounce from this level to the 1st resistance.
Pivot: 1.3561
1st Support: 1.3515
1st Resistance: 1.3631
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 please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
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, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
USDCAD Potential downsides amidst soft CPIHey Traders, in today's trading session we are monitoring USDCAD for a selling opportunity around 1.36700 zone, USDCAD is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 1.36700 support and resistance area.
Trade safe, Joe.
USD/CAD another upward waveit is possible that the USD/CAD FX:USDCAD will make another upward wave.
After an impulse upward wave we can see a correction in USDCAD. it seems the price has reached the end of correction and it is likely to go up.
Our technical view has been shown in the chart.
If you like it then Support us by Like, Following, and Sharing.
Thanks For Reading
Team Fortuna
-RC
(Disclaimer: Published ideas and other Contents on this page are for educational purposes and do not include a financial recommendation. Trading is Risky, so before any action do your research.
Heading into 50% Fibonacci resistance?The Loonie (USD/CAD) is rising towards the pivot which acts as an overlap resistance and could reverse from this level to the 1st support.
Pivot: 1.3663
1st Support: 1.3628
1st Resistance: 1.3685
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 please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
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, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
USDCAD is approaching an important support areaHey Traders, in today's trading session we are monitoring USDCAD for a buying opportunity around 1.36500 zone, USDCAD is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 1.36500 support and resistance area.
Trade safe, Joe.
USDCAD Potential UpsidesHey Traders, in tomorrow's trading session we are monitoring USDCAD for a buying opportunity around 1.36100 zone, USDCAD is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 1.36100 support and resistance area.
Trade safe, Joe.
Falling towards pullback support?The Loonie (USD/CAD) is falling towards the pivot and could bounce to the 1st resistance.
Pivot: 1.3647
1st Support: 1.3611
1st Resistance: 1.3717
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 please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
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, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Sell USDCAD Channel PatternThe USD/CAD pair on the M30 timeframe presents a possible shorting opportunity due to the presence of a channel pattern.
Potential Short Trade:
Entry: Consider entering a short position (selling) only after a confirmed breakout below the support trendline of the channel. Ideally, this would be around 1.3750 or lower if the price continues to decline after the breakout.
Target Levels:
1.3652: This target is achieved by measuring the height of the channel (distance between the resistance and support lines) and projecting it downwards from the breakout point.
1.3607: This is a further extension of the downside target, based on roughly twice the height of the channel.
Stop-Loss: Once the entry point is confirmed, place a stop-loss order above the broken support line of the channel, ideally with some buffer around 1.3770. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards.
Thank you
USDCAD → Two possible scenariohello guys...
I published before about the head and shoulders pattern and the rising pattern, you can check it that the target touched!
You can see the usdcad made a Quasimodo pattern and it is possible to start an upward movement to the blue area!
but the question is from where?! there are two scenarios:
1- starting from the QML (S1)
2- starting from the next level (S2)
which scenarios are you interested in?!
___________________________
✓✓✓ always do your research.
❒❒❒ If you have any questions, you can write them in the comments below, and I will answer them.
❤︎ ❤︎ ❤︎And please don't forget to support this idea with your likes and comment
USDCAD - TRIO RETEST 3️⃣Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
📈 USDCAD has been overall bullish , trading inside the rising channel in blue.
At present, USDCAD is undergoing a correction phase, trading within the short-term falling channel in red, and it is currently approaching the lower bound of the channel.
Moreover, it is retesting a strong resistance turned support highlighted in green.
🏹 Thus, the highlighted blue circle is a strong area to look for buy setups as it is the intersection of the green support and lower blue/red trendlines.
📚 As per my trading style:
As #USDCAD approaches the lower blue circle zone, I will be looking for bullish reversal setups (like a double bottom 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
Rising into pullback resistance, could it reverse from here?USD/CAD is rising towards a resistance level which is a pullback resistance. A reversal from this level could indicate a double top pattern which could lead to a potential price drop to our take profit.
Entry: 1.36919
Why we like it:
There is a pullback resistance level.
Stop loss: 1.37294
Why we like it:
There is a pullback resistance level which aligns with the 161.8% Fibonacci extension.
Take profit: 1.36095
Why we like it:
There is a pullback support level.
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
USD/CAD analysis before NFP(5/3/2024)After a short correction USD/CAD FX:USDCAD has made a sharp break out and pulled back on the discount zone. it's likely the price telling us that USD/CAD is going to reach higher prices.
Our technical view has been shown in the chart.
If you like it then Support us by Like, Following, and Sharing.
Thanks For Reading
Team Fortuna
-RC
(Disclaimer: Published ideas and other Contents on this page are for educational purposes and do not include a financial recommendation. Trading is Risky, so before any action do your research.
USDCAD is approaching an important zoneHey Traders, in today's trading session we are monitoring USDCAD for a buying opportunity around 1.36900 zone, USDCAD was trading i na 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 and resistance zone.
Trade safe, Joe.
USD/CAD potential bullish risePrice has just bounced off the support level which is a pullback support that aligns with the 38.2% Fibonacci retracement and could potentially rise to our take profit.
Entry: 1.37178
Why we like it:
There is a pullback support level which aligns with the 38.2% Fibonacci retracement.
Stop loss: 1.36728
Why we like it:
There is a pullback support level which lines up with the 78.6% Fibonacci retracement.
Take profit: 1.37842
Why we like it:
There is a pullback resistance level
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
USDCAD to turnaround?USDCAD - 24h expiry
Price action looks to be forming a bottom.
Short term RSI has turned positive.
We expect a reversal in this move.
A move through 1.3700 will confirm the bullish momentum.
The measured move target is 1.3750.
Our profit targets will be 1.3750 and 1.3775
Resistance: 1.3700 / 1.3725 / 1.3750
Support: 1.3675 / 1.3650 / 1.3625
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.
Could USD/CAD reverse from here?The price is rising towards a resistance level, which is a pullback resistance that aligns with the 23.6% Fibonacci retracement, and could reverse from this level to our take profit.
Entry: 1.36721
Why we like it:
There is a pullback resistance level which aligns with the 23.6% Fibonacci retracement.
Stop loss: 1.37266
Why we like it:
There is an overlap resistance level which aligns with the 50% Fibonacci retracement.
Take profit: 1.35595
Why we like it:
There is a pullback support level which aligns with the 78.6% Fibonacci retracement.
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
USDCAD is approaching an interesting support zoneHey Traders, in today's trading session we are monitoring USDCAD for a buying opportunity around 1.36000 zone, USDCAD is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 1.36000 support and resistance area.
Trade safe, Joe.