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Usdcaddaily

USDCAD | Still Uptrend | Might get a Retracement.When it comes to the technical analysis of USDCAD, it is still in uptrend and likely to get at least 250 Pips to the upside. However, based on the current scenario, there is a good chance price might try to get a pull back before it move to the upside; which could be approximately 150 pips and it is a good short opportunity as well. But I don't recommend you to trade against the trend. If you are planning to go short, better place the stop above the R1. And also, if price breaks the below demand area don't go long. What do you think is more likely to happen? Please share your thoughts in comment section. And also give a thumbs up if you find this idea helpful. Any feedback & suggestions would help in further improving the analysis. If you find this technical analysis useful, please like & share our ideas with the community. Good Luck! Disclaimer! This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
Long
by Maxproftrade
1
USDCAD - FUNDAMENTAS WITH TECHNICAL LEVELS⛔️ USD does not have such important indicator data to release today. But the most important LABOR DATA for CAD is due out today. It will be released during the NEWYORK SESSION. Most likely it will be POSITIVE. We are waiting. ⛔️ DXY is currently at 98.83 LEVEL. USD has been WEAK for the last few days. But after the FOMC, the USD got a slight POSITIVE SENTIMENT. Also, the CAD FEATURE is down to 0.7946 LEVEL. However, CAD is becoming WEAK relative to DXY due to being OIL DOWN. The USDCAD PRICE looks like it's moving towards DYNAMIC S / R LEVELS. ⛔️ Currently the SENTIMENT of the OVERALL MARKET is being POSITIVE. Also, even though the EQUITIES are turning a bit red, we are not affected by the VOLATILITY DOWN. Also COMMODITIES still shows a UP SIDE BIAS. There is a NEUTRAL BIAS currently on the market. We can not say for sure whether the MARKET SENTIMENT is UP or DOWN. But according to the data we have received so far we can say that MARKETS RISK is turning ON. ⛔️ OIL PRICE is currently down a bit. It will inevitably affect CAD. But the TECHNICALLY USDCAD can go to the SELL a bit faster in the next few days because a RESISTANCE has a PRICE and is RISK ON. ⛔️ USDCAD PRICE can be UP to LEVEL 1.2656 before DOWN. Then the USDCAD PRICE can be down again up to 1.2415 LEVEL. The USD could be a bit WEAK in the coming days due to the MARKET SENTIMENT. The OIL PRICE applies to USDCAD, and the decisions made at OPEC MEETING will have the greatest impact on USDCAD.
by benny_marshall