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Usdcadidea

USDCAD Top-Down AnalysisHello Traders, Here is the Top-Down Analysis of USDCAD (Monthly, Weekly, Daily for direction and 4H for entry) for Week 43 - 19 Oct M > After facing rejection at monthly support price moved up to test resistance level. Between these two levels price had created range in past. After a huge drop we expect a correction at least till 0.382 Fib level on last bearish impulse. W> We saw an M formation and price moved up to test the neck and dropped again. We can see another M formation and price can move up to test its neck. Neck of M formation also coincides with monthly 0.382 Fib level. D > Price has dropped lower than first LH of bullish impulse. As expected price faced rejection to the upside towards our target. However price reversed for a pull down from 0.5 Fib level on last bearish impulse. We expect this to be just a pull back during bullish move towards the target. As per COT CAD saw addition of major Long and closure of Short positions with Short positions further reducing to least for current year, improving net positions (still in -ve). CXY further gained strength during the said week but weakened a bit last week. We have been expecting CXY to strengthen for sometime however DXY is also pushing for its recovery. Hence a bullish move is certainly possible. 4H > Price dropped for a pull back and it should now continue with bullish move. We will continue with our last week's analysis which I will link with this update. Pair Correlation > USDCAD has negative correlation with NZDJPY, GBPUSD, NZDUSD, CADJPY and AUDJPY. This was my Idea and I hope you find it useful. If you find the analysis of help please leave a LIKE and FOLLOW for receiving all updates during the week. In the comment section share your view or ask questions. Thank You AP17FX
Long
by AP17FX
USD/CAD Technical Analysis.Currently, USD/CAD is trading at 1.3195. The pair was trading in a down trend from some time and now broke a key resistance level to start a small up trend. The pair has already broke the small resistance level at 1.3166 and now moving towards its strong resistance level which is at 1.3225. Follow proper risk management strategy to avoid unnecessary losses and to increase profitability, don't risk more than 2% of your capital on each trade. Do follow us for future Forex trend analysis and Ideas. Thank you, Rishikesh Lilawat
Long
by rishililawat5
2
USDCAD Top-Down AnalysisHello Traders, Here is the Top-Down Analysis of USDCAD (Monthly, Weekly, Daily for direction and 4H for entry) for Week 42 - 12 Oct M > After facing rejection at monthly support price moved up to test resistance level. Between these two levels price had created range in past. After a huge drop we expect a correction at least till 0.382 Fib level on last bearish impulse. W> We saw an M formation and price moved up to test the neck and dropped again. We can see another M formation and price can move to test its neck that also coincides with monthly 0.382 level. D > Price has dropped till last LH of bearish impulse, it is currently testing this level. Price can face rejection to the upside at this level. As per COT CAD saw closure of Long and more Short positions with Short positions reducing to least for current year, slighting improving net positions. N-R saw closure of Long and addition of Short, in effect reducing cumulative net positions to further -ve. However CXY gained strength for the said week and was much more stronger last week. We have been expecting CXY to strengthen for sometime. 4H > Price dropped with a strong impulse last week but today could not drop any further. We will wait for reversal for bullish at this level. Pair Correlation > USDCAD has negative correlation with NZDJPY, GBPUSD, NZDUSD, CADJPY and AUDJPY. This was my Idea and I hope you find it useful. If you find the analysis of help please leave a LIKE and FOLLOW for receiving all updates during the week. In the comment section share your view or ask questions. Thank You AP17FX
Long
by AP17FX
USDCAD Trade OpportunityHere is a trade I am looking to enter on USDCAD. My current bias is BULLISH, here are my reasons why; 1) Touched a key level and currently failing to break below. 2) Spinning top candle forming may indicate a move in the opposite direction, as selling momentum has slowed down. 3) We have seen multiple touch and bounces to the upside at this area before. 4) Multiple BULLISH candles on smaller time frames, and we are testing the upper part of this support area. If we break out, I think we will continue to move upwards. I'll be placing an order and monitoring this pair closely today.
Long
by conappleton
USDCAD - Parabolic move leads to the cascading effect USDCAD The parabolic move was started on Starting of the September month and ended in September month end. The instability in oil prices caused the Lonnie to lose some ground against greeenback. But after the shift in positive sentiment in the market CAD has gained some ground against USD. After the ABCDE Elliot correction waves formed at the end of previous month its started fall towards 1.31000 key psychological level. We can clearly see the series of consolidation phases and the rapid distribution phases as the consolidation phases slowly expired the Distribution phases which is abrupt rise and fall in the prices. We can see a cascading effect happened around 1.33400 level and felled towards 1.31000 which is almost 240 pips fall in a week which is a 2% Drop. In Elliot wave theory the 3rd major impulse wave was completed and the minor 4th wave is also completed and the 5th wave is underway. We can calculate the length of upcoming 5th wave by merely measure the length of the 1st wave which is around 200 pips. The price is facing a minor hurdle at 1.31000 key psychological level and trading within a 40 pips range we can expect downward play. From this consolidation range and the next drop would be equal to the 200 pips move which is similar to the 1st downward Elliot impulse move. In One hour timeframe the Ichimoku cloud is acting as resistance and 50 Exponential moving average is acting as decent support for the bear And the Bollinger band is narrowing we can expect breakout in coming days. In MACD the histogram is about to turn red and may fall below the middle line .And the oscillators are still pointing upwards and. Relative strength index is at neutral region. In four hour timeframe the Relative strength index is reached the oversold territory and In MACD the histogram is turned green and crossed the middle line and the oscillators are about to cross.200 Exponential moving average is floating around 1.32100 which will act as next upside barrier for the bull. And 50,100 Exponential moving averages are make golden cross. In daily timeframe USDCAD is reached the lower region of Bollinger band if the Today candle is closed above 1.31200 level then it will leave us a bullish engulfing pattern in daily timeframe. Ichimoku cloud is turned green but the cloud is still acting as resistance for the bull. The Relative strength index is at 37 level which is just above the oversold territory. MACD is still in red and the oscillators are still pointing towards south 🎉Hit the thumbs up button if u like our work and do follow us so that you can get a regular update about upcoming setups and ideas 💌 Leave your valuable comments and suggestions related to this idea in the comment section. Thanks for your time. Good day guys 💝
Short
by forexorbit
USDCAD Top-Down AnalysisHello Traders, Here is the Top-Down Analysis of USDCAD (Monthly, Weekly, Daily for direction and 4H for entry) for Week 41 - 06 Oct M > After facing rejection at monthly support price moved up and to test resistance level. Between these two levels price had created range in past. W> We could see M formation and price moved up to test the neck and then dropped for a pull back. We can see another M formation and price can move to test its neck. D > Last bearish move respected the channel it created and now we can see price respecting the upward channel that it has created with bullish move. As per COT CAD saw closure of both Long and Short positions, N-R saw addition of Long and Short positions and Commercials saw closure of both Long and Short, confirming weakness of CAD for the said week. CXY gained strength last week. 4H > Price dropped below channel to test daily support, we expect price to reverse at this level and continue with its bullish move. Pair Correlation > USDCAD has negative correlation with CADJPY and AUDJPY. This was my Idea and I hope you find it useful. If you find the analysis of help please leave a LIKE and FOLLOW for receiving all updates during the week. In the comment section you can share your view and ask questions. Thank You AP17FX
Long
by AP17FX
USDCAD is fighting with 1.32000 levelUSDCAD The price is trading below the 1.32000 which is currently acting as a resistance for the bullish run. In one hour the price is also trading above the 50,100,200 exponential moving average is a clear sign of continuation of bull. On volume profile the price is also above POC – Point of control. On Elliott wave pattern currently third wave is forming. From sep low 1.2993& the uptrend trend line is holding this pair. At 1.31600 bullish engulfing candle is formed. We can buy this pair at current level and the potential take profit will be 1.32700. SL may place below the trendline. Please give us a thumbs up if u like our work and do follow us so that you can get a regular update about upcoming setups and ideas Disclaimer It’s not a financial advice. Do the analyze and take a decision.
Long
by forexorbit
2
USD/CAD Technical Analysis.Currently, USD/CAD is trading at 1.3160. The pair is trading in a side ways trend after rebounding from its resistance level, It can move in either ways UP or DOWN. So, accordingly plotted entry levels and target prices. If the price breaks resistance level at 1.3179 it can move upward and hit the up target at 1.3242. If price breaks support level at 1.3128 it can move downward and hit down target at 1.3055. Follow proper risk management strategy to avoid unnecessary losses and to increase profitability, don't risk more than 2% of your capital on each trade. Do follow us for future Forex trend analysis and Ideas. Thank you, Rishikesh Lilawat
by rishililawat5
2
USD/CAD LONG IDEAHey tradomaniacs, welcome to new trade-idea. Note: This is meant to be a preparation for you! As always we will have to wait for a confirmation! USD/CAD: Daytrade-Preparation Market-Buy: 1,31345 Stop-Loss: 1,30990 Target 1: 1,31675 Target 2: 1,31975 Target 3: 1,32370 Stop-Loss: 35,5 pips Risk: 0,5% - 1% Risk-Reward: 2,88 LEAVE A LIKE AND A COMMENT - I appreciate every support! =) Peace and good trades Irasor Wanna see more? Don`t forget to follow me. Any questions? PM me. :-)
Long
by Trading2ez
5
USD/CAD Moving in Downward Channel.Currently, USD/CAD is trading at 1.3124. The pair is trading in downward resistance and support channel and it may reverse back from here, as the price has already touched resistance level. The price may rebound back to the support level if it doesn't break the resistance level at 1.3140. If the price goes below 1.3068 level then it may touch the support level at 1.2954. Do have a closer watch on this pair usually channel trades give a good risk/reward ratio. Follow proper risk management strategy to avoid unnecessary losses and to increase profitability, don't risk more than 2% of your capital on each trade. Do follow us for future Forex trend analysis and Ideas. Thank you, Rishikesh Lilawat
Short
by rishililawat5
USD/CAD Technical Analysis.Currently, USD/CAD is trading at 1.3081. The pair is trading in a downward resistance and support channel moreover it is about to enter its support zone. The price is moving towards its support zone at 1.3044 and it can rebound back after touching the support zone. So, it is likely that after it rebounds from the support zone, it can start a new uptrend. Follow proper risk management strategy to avoid unnecessary losses and to increase profitability, don't risk more than 2% of your capital on each trade. Do follow us for future Forex trend analysis and Ideas. Thank you, Rishikesh Lilawat
Long
by rishililawat5
USDCAD long trade ideaPlan: resistance level breakout --> wait for the price to bounce off from support level --> wait for the rejection candle pattern to form e.g. bullish engulfing, pinbar, etc --> BUY **Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions. Traders!! if you like my ideas and do take the same trade as I do, please write it in a comment so we can manage the trade together. _____________________________________________________________________________________________________________________ Thank you for your support ;) GWBFX
Long
by GWBFX
6
USDCAD - BULLS OR BEARS?*ENG* - Price hitting our supportive zone and showing some correction signs. - Right now price action is showing a possible bearish move. - If price breaks our resistance trendline, wait for the retest and then look for long entries. *PT* - Preço a atingir a nossa zona de suporte e a demonstrar alguns sinais corretivos. - De momento o price action está a demonstrar uma possível quebra para baixo. - Em caso de quebra da trendline de resistência, aguardar pelo retest da mesma e procurar por entradas para long.
by Wevesting
USD/CAD Trading in channel.Currently, USD/CAD is trading at 1.3216. The pair is trading in a down trend from some time in a channel pattern. The price is about to touch the resistance level and It may rebound back from there. The pair is in down trend from some time, so it is possible that it will continue its down trend and touch its strong support level at 1.3050. Follow proper risk management strategy to avoid unnecessary losses and to increase profitability, don't risk more than 2% of your capital on each trade. Do follow us for future Forex trend analysis and Ideas. Thank you, Rishikesh Lilawat
Short
by rishililawat5