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Usdcadidea

USD/CAD Technical Analysis.Currently, USD/CAD is trading at 1.3388. The pair is consolidating in the ascending triangle pattern. Previously, the pair was trading in a down trend. There is a great possibility that the pair will rebound back from its resistance level. But if the price breaks the resistance level at 1.3452, then It may start a new up trend and its first target price will be at 1.3544 and second target price will be at 1.3600. Follow a 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
USD/CAD Technical Analysis.Currently, USD/CAD is trading at 1.3547. The pair may start a new down trend if it breaks the support level at 1.3522. Previously, the pair was consolidating in the resistance and support wedges. If the pair starts a new down trend after breaking the support level, then its target price will be at 1.3387. Follow a 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 - Buy Opportunity Within Ranging ChannelHello Traders!, We're expecting more USD weakness for this trading week as we look ahead to see what pairs can be traded against USD, here we have a great opportunity to take advantage of some short-term range within a channel down. What Is The Market Telling Us? We could be in a bullish trend for the long term as there's been a pivot point @1.33500 level Price has been ranging within our channel for just about two weeks, giving us a strong indication that the channel is being respected Bullish crossover of moving averages is incoming which could give us a sign that price is heading towards the channel resistance When Should We Enter? We can wait for a pure retest of our support level @1.35300 followed by bullish signals (candlestick pattern etc) before BUYING If we do not get a valid retest of our support, we can wait for price to violate our recent high of @1.35600, (BUY STOPS etc)
Long
by forexwithfred
4
USD/CAD Technical Analysis.Currently, USD/CAD is trading at 1.3539. The pair started a new down trend after breaking the support level at 1.3548. Previously, the pair was consolidating in the resistance and support levels. As the pair has already started a down trend by breaking support level, its first target price is at 1.3430 and second target price will be at 1.3358. Follow a 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 1.3585. The pair started a new up trend after breaking resistance level and neckline at 1.3480. Previously, the pair was trading in a down trend while moving in a lower-low lower-high pattern. As the pair has already started a new up trend, Its first target is at 1.3663 and second target is at 1.3776. Follow a proper risk management strategy to avoid unnecessary losses and to increase profitability. Do follow us for future Forex trend analysis and Ideas. Thank you, Rishikesh Lilawat
Long
by rishililawat5
USD/CAD - Potential Further Drop After RetracementHello Traders!, Happy Monday, I hope everone's had an enjoyable weekend, despite the current ongoings with whats happening in USA and other countries What Is The Markets Telling Us? We see a massive drop off on US dollar strength, possibly due to widepread protest which will cost the country millions in repair Upon New York Session opening we can see a retest of resistance @1.3730, followed by a significant drop, MAs are above price This is a great example to show how fundamentals and technicals co-operate within the market When Should We Enter? Will be looking to execute SELLS once price has reached our retracement area Although, we may see consolidation if there is a insufficient amount of volume, or even price may not reach our retracement area All in all, before entering for a SELL, it will be ideal to see some sort of consolidation/retracement followed by bearish bias before selling
Short
by forexwithfred