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Usdcadlongsetup

USD/CAD Potential Buys USD/CAD We have seen price bounce back from the 1.34530 area to 1.32831 where it meets previous support. We also see a daily inside closure and further upside movement on the pair today. Further confirmation of the following can be taken in to consideration also. 1 - Daily Inside bar closure above the previous day - shows us buyers are coming into the market further. 2 - Head and shoulders inverse completed on the daily also and can be seen. 3 - The pull back has already taken effect and now waiting for further price confirmation before seeing this pair hit its first TP which is aligned at 1.34530 .
Long
by Sulemank
USDCAD LONG-TERM BULLISH TRADE IDEAHi Traders, The USDCAD broke out and retested the inverted H&S neckline that lined up with support level. . The price has also broken out the a-b-c zigzag corrective pattern CTL in wave (ii) with a five-wave impulse in wave "i." . To position ourselves in the bullish trend, we will wait for the price to make a three-wave retracement in wave "ii" of (iii) which is most likely to reach 50-61.8 Fib ratio that lined up with support level. . The projected target area for wave "iii" of (iii) is around 1.36508, and the entire wave (iii) "long-term target" is expected to terminate at 1.38080 area. . What's your view on USDCAD? Kindly let me know in the comment. . Best of luck on the chart! Veejahbee.
Long
by Veejahbee
Buying The USD/CAD From Macro Fibonacci SupportIn the event the USD/CAD closes negative, it will mark the third straight red candlestick on the daily chart. July has extended the negative sentiment of late June, with price seemingly on a collision course with the 1.3000 handle. If we see a continued fall, then a buy from just above the macro 62% Fibonacci retracement is good trade location to the bull. Here is the trade: 1)Entry: Buy 1.3036 2)Stop Loss: 1.2994 3)Profit Target: 1.3082 4)Risk vs Reward Ratio: 1/1 The optimal timing for this trade is before the Monday forex session close. However, the recommendation will remain valid until Wednesday’s BoC Interest Rate Announcements. If it hasn’t gone live by that time, pull the orders.
Long
by FXLeaders