USDCAD / Long opportunityPrice has reached an area of support where it has rejected from in the past
Currently waiting for a structure break on a lower timeframe to enter a long position
Please feel free to follow for more ideas
Usdcadbuy
USDCAD LONG TRADE Nice area we are currently reacting from. Id like to see price from here make a quick upside move where ill be moving stops to break even and hopefully holding a nice swing trade. Make sure you are only risking 1% max, this is a risky area but can pay off if we see a reversal.
USDCAD top-down analysisHello traders, this is the full breakdown of this pair. We will take this trade if all the conditions are satisfied as discussed in the analysis. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
USDCAD trading the obvious levelsStill holding short trades but will take 50% profit very soon. 1.26000 is area of support that has my interest for a possible trade back to the upside. Keep an eye out for a reaction from that zone to hopefully open nice entry's for longs.
USDCAD Head & Shoulder Pattern?I've noticed a head and shoulder forming on USDCAD, with rejection on Major Level 1.28000.
We will have to wait and see what the reaction of price does on level 1.26000 before any decision is made.
FOREX ANALYSIS : USDCADFX:USDCAD
The blue and red lines mean: I think prices can return in these areas.
Green lines mean: I think the price can reach these areas. They are therefore known as transaction targets.
If you want to use this deal, please risk only one percent of your account balance.
USDCAD intra-day long tradesJust a a bit of an explanation to my USDCAD buy trade to start the week which is now running risk free. For these intra day trades I like to be a bit more aggressive on the charts quickly moving stops to break even to cover my positions and having tight stops from entry to minimise risk. I cant always update my entry in video form but will do my best to alert my trading view when a see potential setups. Hope everyone smashes it this week! annndd dont forget riiiiissskkkk mannnnnaaaaggeeeee!!!
USDCAD: Buys ExpectedThe zone to the left provides a great area of demand to bounce from.
I would like to see some rejection and structure shift on the lower timeframes before we begin to buy into the bearish imbalance on the way down.
What are your thoughts on this setup?
USDCAD long ideaPotential area to go long here.
PLEASE NOTE comments made in last post in regards to price action and trade invalidation.
It is a Friday, be extra cautious!
USDCAD BUYPrice retested flip zone, trend-line and Level 1.27000
I'll be looking for buys on level 1.27500
Reasoning:
- Overall Trend is still bullish, however we've seen a little rejection around level 1.28000-1.29000 (Watch out for signs of a reversal)
- Price broke and retested level 1.27000 & Price flip zone (Blue)
- Price respected trend-line
- USD has shown considerable strength as the FEDs are looking slightly Hawkish from yesterday's FOMC meeting. However, beware as sentiment about this is highly mixed
Entry:
Aggressive = Bullish push from level 1.27500
Conservative = Break and retest of counter-trend line (Red)
WAIT TILL OPPORTUNITIES PERSISTS, NO CONFIRMATION = NO TRADE
Take Profits would be placed at previous highs.
*If Price rejects on 1.28000, Get out of the trade
USDCAD looking at long positions soon I want to see just a little bit more price action around current area but price is building nicely and does look like we may see another impulsive move to the upside.
USDCAD My Prophecy has happened !!Hello everyone, as we all know the market action discounts everything :)
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On July 20 I posted my analysis on the market and told u that a cup and handle pattern has formed and the market is looking Bullish
Then on the 2nd of September, i posted an idea about how the market will probably move for the next period of time, and Today we see that the market moved exactly like I said it would .....
Today The USD/CAD pair added to its strong intraday gains and climbed to one-month tops, further beyond the 1.2800 mark heading into the European session.
The market is still showing Bullish signs all over, and if we use the Elliot wave theory we see that we are having an impulsive wave right now that could push the market to the 1.3002 level.
Scenario :
The market is getting close to the first resistance line at 1.2826 where a battle between the Bears and Bulls will happen and the outcome will probably be in favor of the Bulls. if the price breakout that line then the trend will go on and that which give us a good confirmation that the movement will be headed to the 1.3002 level soon.
Technical indicators show :
1) The market is above the 5 10 20 50 100 and 200 MA and EMA (Strong Bullish sign)
2) The RSI is at 63.07 showing Great strength in the market, No divergences were found between the market and the indicator
3) The ADX is at 18.45 showing that the market is gaining more strength but it didn't reach the trending phase yet. A positive crossover is happening between DI+ (28.32) and DI- (14.76)
Daily Support and Resistance :
support Resistance
1) 1.2759 1) 1.2777
2) 1.2751 2) 1.2787
3) 1.2741 3) 1.2795
Weekly Support and Resistance :
support Resistance
1) 1.2651 1) 1.2826
2) 1.2537 2) 1.2887
3) 1.2475 3) 1.3002
Fundamental point of view :
The USD/CAD returned to its best level in a month as markets anticipate the Federal Reserve will confirm that a bond taper is planned this year and the close Canadian election is not expected to produce any major policy shift, whatever its political result.
That promise of higher US interest rates has been the main support for the US dollar over the past month.
Canadian inflation was slightly higher in August than expected though the Bank of Canada core rate was a bit lower than forecast, though it increased over July.
In the US, the Consumer Price Index for August showed the first indication that price increases may be slackening. Retail Sales in August rebounded smartly from their decline the month before.
Polls for Canada’s federal election on Monday between Prime Minister Justin Trudeau’s Liberals and the Conservatives of Erin O’Toole show neither party winning an outright majority in the 338-seat parliament. According to FXstreet
This is my personal opinion done with technical analysis of the market price and research online from Fundamental Analysts and News for The Fundamental point of view, not financial advice.
If you have any questions please ask and have a great day !!
Thank you for reading.
USDCAD update Will be looking for positions probably Tuesday.. an upside continuation would be the idea situation as we got a late push on Friday to close out a strong daily and weekly candle. Important though to wait for the retracement and get in with the best risk reward. Will stay active and hopefully give out my entry's on a few different pairs next week.
More upside for USDCADThe usdcad saw strong buying this week. We're going to flip our bias to a buy for the pair.
BULL CASE
1.30 is the target that we're looking at for this pair
BEAR CASE
If we're wrong, our initial analysis for a short to 1.23 will materialise.
USDCAD Hello Traders,
this is my idea for FX:USDCAD .
A close above the resistance will give a googd buy impulse, a close below short.
Post your idea/analysis below for discussion.
Thank you all for your support.
For more accurate setups, stop loss, take profits and mentoring services, FX signals, Crypto, Indices and Stocks PM me.
USDCAD H1 TIMEFRAME ANALYSIS (BUY) We consider buying this USDCAD pair because of a strong support below. We know what we are doing and we do what the market is doing. This is more than an institutional analysis. Invest wisely. Thank you for following me on tradingview.
USDCAD BUYThere is no perfect trading strategy or system, but I work regularly on improving the strategies known to me by analyzing frequently and by constantly following up on a pair. For this I urge you to interact and to follow my posts.
USDCAD H1 TIMEFRAME ANALYSIS (BUY) We consider buying this USDCAD pair because of a strong support below. We know what we are doing and we do what the market is doing. This is more than an institutional analysis. Invest wisely. Thank you for following me on tradingview.
USDCAD long positions Just another quick explanation of what ill be looking at over the next day off the back of this usd strength.
USDCAD | Perspective for the new weekMy last speculation saw the price move over 150pips in our direction before the bulls took over ( see link below for reference purposes). Since breaking above the $1.25000 level in July 2021, I am labelling this level to be a very strong demand zone for the Greenback considering that the obvious that it has held price "supported' in the last couple of months. Since the value of the Loonie is directly connected to the oil situation. It is important to take into consideration that oil inventories are currently down from what they used to be prior to the Covid-19 pandemic. Coupled with the Hurricane Ida situation, there is more supply than demand which could have a negative impact on the Loonie in the coming week(s).
Tendency: Uptrend (Bullish)
Structure: Supply & Demand | Trendline
Observation: i. Since hitting a peak @ $1.29500 on the 20th of August 2021, the price of USD have tumbled drastically and it is finally at our Demand zone.
ii. The visual representation of a line drawn under pivot lows reveals the prevailing direction of price since June 2021. However, a sudden Breakdown of this Trendline (whatever way you draw your line) during last week trading session cast some doubt on the Bullish tendency on this pair.
iii. At this juncture it is indeed appropriate that we remain patient and observe how price reacts to the Major Demand zone @ $1.25000/1.24200 area for confirmations.
iv. To support my Bullish expectation on this pair, I shall be looking for rejections or engulfing candles off of the Key level @ $1.25000 (above key level - safe haven) in the coming week(s).
v. Should price drop below Key level, then this will make the Breakdown of Bullish Trendline valid. Hence, a retest shall give me no choice but to switch bias in support of the Bears... Trade consciously!😊
Trading plan: BUY confirmation with a minimum potential profit of 250 pips.
Risk/Reward : 1:4
Potential Duration: 3 to 7days
NB: This speculation might be considered to make individual decisions on the lower timeframe.
Watch this space for updates as price action is been monitored.
Risk Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
