Get started

Usdcadsell

USD/CAD ANALYSIS 📉👋 Hello and welcome traders to another trade idea with Fobian ☝️ Firstly, if you like what you see, please support our work by writing a comment and SMASH that like button! 👍 Let's catch these moves together! ✅ 👉 WE have sell conformation: - USDCAD rebounded from downtrendline with bearish movement - Price is based below key level at 1.3248 - MACD shows weakness in bullish momentum - RSI broke uptrend - It's expected for coming bearish Elliot wave 5 to target first support level at 1.3105 - then finally target demand zone at level 1.2995 💡 Why should you follow our profile on TradingView? Consistent chart updates Clean charts Short and long-term perspectives Visually teaches you valuable lessons High probability setups Analysis on a wide range of major markets SMASH that follow button! 👍 💡 Leave a comment and/or message us on how we can improve and provide better content, we are open to suggestions to create a better experience for you! Keep in mind that the analysis provided is not 100% accurate and that you can never be certain with the markets. This information given is not financial advice, always do your own research.
Short
by TBFinan
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
Daily Update__ Buy__ USD?CAD-- W1Disclaimer: 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. this is not signal. it's my opinion. trade your own risk. and Must Follow Money management. _______________________________________________________________________________________________________________________________________________________ Thank you for your support!
by morshedul-munna
SELL USDCAD AFTER PULL-BACKUSDCAD pair is positioned for a short run to the upside with an expected pull-back @ 1.32614. Thereafter, we should see a bearish confirmation candle that closes below @ 1.32614. We will take two short entry positions once we confirm a bearish candle close. Our first target will be toward @ 1.3250. Then we shall wait for the break toward the downside with price closing below @ 1.31250. This will give us our second entry confirmation to go short to our next target. Target 2 will be @ 1.29900. GoodLuck.
Short
by TradingDaysFOREX