We have up.trend We have. Break.of. structure We have. Reversal pattern
USDCAD fell after completing a bearish Head and Shoulders (H&S) pattern, as expected. Prices are now digesting above support-turned-resistance anchored at 1.3154. Negative RSI divergence points at ebbing bearish momentum, but that need not necessarily translate to reversal. Rather, it may simply flag a consolidative pause before the down move is reasserted....
USDCAD looks like it may be gearing up for a pullback from resistance below 1.39. The rally from mid-August appears to have run out of momentum after testing an inflection zone that has acted as both support and resistance since May 2017. Negative RSI divergence highlights ebbing bullish vigor. A pullback from here sees initial supports at the 1.36 and 1.35...
This is for short term Please DYOR before entering the trade.
USD will weaken as the ppi today was negative than predicted. So its going to hit major support zone 1.26000.
I did a paper trade experiment with this USDCAD movement. Earlier in the day I entered into a real time forex trade at slightly lower than 1.2938 and 30+ pips later, well into the afternoon , so from 5:30-6am- 2pm this currency mover up and down between 60-70 pips. Keys triggers I was looking for. Notice the wide Bollinger bandwidth, the bands open up for the 1...
USD/CAD LONG from week chart after losing a lot It’s clear
In graphs of 4hrs we can see the drawing of a new minimum which leads me to think of a discount to continue falling, in minor temporalities the price has been breaking structure and has been positioned bullish, this entry is the confluence between a Bullish Ob and a Harmonic bat pattern. If it breaks down, it is important to keep an eye on the bottom green square....
Finally, the USD/CAD has broken out. If we see the 1.2500 big-round-number give way, a buying opportunity may set up nicely. Here it is: 1) Buy 1.2459 2) Stop loss at 1.2419 3) Profit target at 1.2499, 1:1 risk vs reward
I analyse the USDCAD for you. We broke the last support and the moving average 20. Next target is the area 1.2565. Good trades Cheers
USD/CAD rebounds from two-week low, inches back closer to mid-1.2600s amid stronger USD USD/CAD reversed an intraday dip to sub-1.2600 levels, or over a two-week low. Resurgent USD demand turned out to be a key factor that extended some support. Steady oil prices, upbeat Canadian data underpinned the loonie and capped gains. The USD/CAD pair built on its steady...
Overall it looks like USD/CAD is heading towards 1.29000.
Break the bearish trend on 1H and Touch the upward trend line on the daily
This can be a sign of exhaustion of the bulls. If you look at the chart, you can see that the pair failed to make a new higher high in the last attempt at rise. After that we were able to see the lower low and there is already a clear H&S pattern. But this can fail like everything else. I would wait for a breakout + retest. This is interesting because of the weak...
stop loss : 1.23109 entry point: 1.23767 BULLISH COUNTER ATTACK
New down trend started with break of the up trend, should drop to at least 1.24000
Price currently in demand zone, and Risk/Reward looks decent. Could potentially be a head and shoulders on the daily which would indicate a trend reversal but looking at the high I'm going to say price will bounce off of support and continue back to the supply zone!!!!!