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Usdcadlongsetup

USDCAD AnalysisLooking at the weekly chart, UC is generally in an uptrend. We also see that price is moving between two trendlines, thus forming triangle pattern. with this pattern had been falling from mid-March until the movement came to an end when price reach the support trendline where price showed signs of a reversal. The reversal was confirmed not only by candlestick patterns but also the violation of of the bearish intra-trendline. Price did this forming a bullish cup pattern. This gives me more confluence on the the current direction of the market. We are currently in a correction phase (flag). My expectation is a continuation to the upside. But should price hold and maintain the bearish flag, my anticipation is it will drop down to the weekly Support trendline, give us a double bottom and then begin its bullish move from there. *Disclaimer* This is not financial advice. Forex trading is a risky business. Trade at your own risk. Patience and risk management are crucial. #Trade_Like_A_Magnate
Long
by Magnatrio
USDCAD Long!Given the previous bullish momentum we had on Monday and Tuesday, and the overall bullish momentum on the weekly, I personally wont be looking to short USDCAD just yet. (Take note that price still has not broken and closed below the psychological key level of 1.2500). I'll be waiting for confirmation on the 1H ( bullish engulf preferably or bullish hammer ) before getting involved. Ps: also make sure to watch out for any fundamentals during the day. First Take profit will be set to 1.27800 respectively. Lets see how this plays out.
Long
by sscapitalholdings
Friday: USDCAD - Week 28Hello Traders! Check Related Idea for market context!! I will update my idea as the trade progresses if any changes occur and my analysis is wrong, or need to be adapted to the new development of price-action. Thanks for the support! ----------------------------------------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------------------------------------- SMASH that follow button! 👍 💡 Leave a comment and/or message me on how I can improve and provide better content, I'm open to suggestions to create a better experience for you! RISK DISCLAIMER: Please be advised that I am not telling anyone how to spend or invest their money. Take all of my videos as my own opinion, as entertainment, and at your own risk. I assume no responsibility or liability for any errors or omissions in the content of this channel. This content is for educational purposes only and is not tax, legal, financial, or professional advice. Any action you take on the information in this video is strictly at your own risk. We, therefore, recommend that you contact a personal financial advisor before carrying out specific transactions and investments. There is a very high degree of risk involved in trading. Past results are not indicative of future returns. Inotfancy.com and all individuals affiliated with this channel assume no responsibility for your trading and investment results.
Long
by INotFancy
USD/CAD Technical Analysis.Hello traders, USD/CAD is trading at 1.2543. The price is moving in an upward resistance and support channel, after reversing from support level it can start a new up trend. The entry price for the pair is at 1.2559, target price is at 1.2644 and stop loss price is at 1.2514. 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 to break 1.21300 resistanceNFP trade idea The upcoming NFP and Canada Unemployment rate are the catalyst for friday's movement. My bias is toward the USD, NFP is expected to have a positive data in favor of the USD. Trade Idea Buy Entry: 1.2120 TP 1.22050 SL 1.20900 Buy Trigger Move catalyst NFP expected to have positive data for USD Price supported by EMA 20 pointing up Risk Reward Ratio 2+ Stop loss at 1.20900 a break in this level could take the pair down to 1.2000 level
Long
by ginfrix
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