Usdcaddaily
USDCAD: Daily Price-Action Analysis, Long! See Description.
On the Monthly timeframe, Price has seen test at 1.20483, a VERY Important Price for Long-term POTENTIAL Targets 1.79550 | 1.59368. Hmmm!
Test at 1.20483 has sent Price to Caption zone 1.25110 | 1.27834.
Inside Caption-zone is Price 1.26210 that gives price 1.34621 potential for upside test.
Understanding the Caption-Zone:
Successful upside breach of 1.27834 is clear setup for Test at 1.33083 for further advance or decline.
As is, price is trading above %50 of most recent Lo-Hi Swings-- Meaning Bulls have upper-hand and potential to drive price outside 1.25110 | 1.27834 Caption-zone into Target 1.33083
Other Targets will include:
1.31714 | 1.31897 | 1.35313 | 1.35552
Looking at Daily Time-frame:
Price is trading above two Caption-zones:
1.24079 | 1.25391
and
1.24526 | 1.25474
Meaning: There's a chance for (Pass or Decline) TEST at 1.26186.
Secondary Tests await at 1.27302 | 1.27832 zone prior to zoned Target 1.33083.
Note: Idea is to complement your research.
Check comments section for future updates on idea.
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Thank you. Happy Trading.
USDCAD broke down as expected. Looking for the next short!The dollar cad broke down farther as we predicted last week. Price has since seen a retrace and we will be camping out for a next short. This short will be messy and we will take short scalping moves as the price action is in a wave 4 correction, looking for the final wave 5 down.
Trading Idea Regarding USDCADAccording to my analysis USDCAD is going down for upcoming week once it break support zone
1-Head and Shoulder chart Pattern indicating bearish behavior for upcoming week
2-Price Break The Uptrend Line and Retest the trend line which now acting as raising resistance line
Warning:
If this pair failed to break support then most probably it move up by making double bottom chart pattern so trade only when candle close below the support area
USDCAD Bullish Divergence Analysis 07/03/2021as we can see the price is in a wedge where it has Bullish Divergence with MACD and there exist a MACD crossover which can be interpreted as the trend reversal
we can see some changes in DXY also which may confirm the bullish ness of this instrument
there are 2 TPs to capitalize on