Buy USD/CAD | Dec 20, 2019The video explains my changing bias from bearish earlier to bullish henceforth.
Usd-cad
Sell USD/CAD | Dec 18, 2019The video explain technical setups which are also supported by economic data.
Sell CAD/JPY | Dec 4, 2019Note: I said in the video that there is no significant data from Canada during NFP release, although employment data from Canada is gonna be released at same time but it will be ignored by the market. I have always seen that other economic data are ignored during release of NFP as traders predominantly focus on NFP.
USDCAD: Weekly and Daily Timeframe Analysis
my thoughts on USDCAD from a long term perspective.
bearish outlook and justification.
please, support the idea with like and leave a comment!
USD/CAD Weekly Forecast for Next Week - Price AnalysisHello Traders, let's take a look at the USD/CAD and take a look at our plan for the week ahead.
This is interesting because we've seen the dollar strengthening against most pairs this week except the Canadian dollar which has been stronger than the US dollar.
USD/CAD is breaking down into this downtrend and is closing near the lows. That's interesting. I really don't know what to make of it. You know, it's it's such a wild card, the Bank of Canada is not expected to make any type of rate change next week, but it is more about what they're going to signal, as far as their upcoming policy.
So, this is definitely a currency pair that is in play. There is currently trading with strong momentum in this downtrend.
USDCAD MULTI-TIMEFRAME ANALYSIS AND TRADE
my view on USDCAD and potential trade
entry/stops/targets explained
Forex basket : 08:36 04-Sep-19.LOG
For most new traders, the biggest challenge is getting a profitable strategy that works
for the long term. Usually, trend-following systems are favored because they tend to have
a very good risk-to-reward ratio. Trading the currency market is essentially a numbers
game, basically traders look for strategies or systems that have a positive overall
yield. The profit factor of any strategy is also very essential, because a profitable
strategy should make more money or pips, than it loses. After some extensive research,
I have discovered one of such systems. This strategy is built on one of the oldest
trading adages around; “cut your losses early and let your profits run”
and “the trend is your friend”.
Basket trading involves opening a series of correlated or uncorrelated trades, and after
an adequate amount of time, closing the trades when the overall sum of the trades
is positive i.e. when the net value of all open trades is positive or close to our
targeted profit-value.
It is not 100% guarantee.
The Trading setup
The truth behind the Forex market is that currencies trend. This means that currencies have a tendency to keep gaining or diminishing over a long period of time. There are a lot of concepts about trading cycles and swings, but in reality if we were to zoom out of our charts we would notice a very obvious and unmistakable trend direction. Basket trading involves gauging the potential strength or weakness of a pair, and placing several trades that align with that analysis.
Key Reports/Factors that Move FX Markets
Any world events /news
Financial crises and elections create financial uncertainty and, in turn, impact value
of a country’s currency
Central Bank monetary policy announcements Will affect size/growth rate of a
nation’s money supply and, in turn, interest rates; can include key interest rate
changes, buying/selling government bonds, reserve requirements changes
FOMC (Federal Open Markets Committee)
Meets 8 times a year to set U.S. monetary policy and key interest rate changes;
impacts value of U.S. dollar, world’s reserve currency
U.S. Dollar Index
Measures the value of U.S. dollar relative to a basket of currencies for the
U.S.’s most significant trading partners
TECHNICAL ANALYSIS USDCAD USDCAD presenting with possible short trade should price break the support trend line. I will be waiting for a break and close below this level and a retest where support will act as resistance.
USDCADLet's see how the market opens up later on today for a good entry, but overall, I believe we are continuing a downtrend to at-least the 1.293 support zone.
VIDEO ANALYSIS: USDCAD TO 1.3650In this video update, we take a look at USDCAD and how the market could continue to push higher towards the key resistance.
The weekly chart formed a strong bullish close off the key 1.3300 demand zone and with the Bank of Canada stalling their outlooks on growth
we could see the Canadian Dollar weakness continue. The 4hr chart is forming higher highs and higher lows with the previous structure lows
offering an ideal area for long opportunities.
VIDEO ANALYSIS: USDCAD CONSOLIDATING In this video update, we take a look at USDCAD is the market consolidates at the key support zone.
If the FOMC seem dovish towards the rate of which they move interest rates we could see a break of
the 1.3300 demand zone and continuation lower. However, if price forms a higher high we could
anticipate that prices will move towards the key 1.3440 level.
VIDEO TRADE ANALYSIS: USDCAD TO 1.3080In this video update, we take a look at USDCAD as it rejected the key 1.3300 resistance last week. Expecting further downside
to continue here on this market and looking for a pullback into the previous 4hr lows which holds a 50% fib retracement.
A sell limit order may be appropriate here as the news may cause the market to spike into the key zone.
usdcad 1430 building permitsvery good position to take a trade from 1,30726 but i did it 1.30760. Of course I made a good position. Rsi was over 40 :)
USDCAD Weekly Trendline Rejection?Looking at a rejection on the cross section of x2 Weekly Trendlines. Waiting for candlestick confirmation as could still be bullish.
