Usdcadsetup
USDCAD top-down analysisHello traders, this is the full breakdown of this pair. We will take this trade if all the conditions are satisfied as discussed in the analysis. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
USDCAD top-down analysisHello traders, this is the full breakdown of this pair. We will take this trade if all the conditions are satisfied as discussed in the analysis. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
USDCAD ANALYSIS 8HPrice has comeback to supply zone. Tested area 1.2825 and rejected at 1.29310.
If price can hold under 1.28253 then I'm looking for a sell long term to the 1.2600 level.
There could be a bounce off 1.27324 back up I'm holding with very low risk. sl above bearish candle.
The DXY has rejected 96.924 twice. last time was nov.24th. DXY is looking to test the 96.00 level or possibly lower.
USDCAD | Technical Analysis | Good Buy Opportunity If you find this technical analysis useful, please like & share our ideas with the community. Coming to the technical analysis of USDCAD, I think we are going to see an upward movement. If you are going to go long now, make sure to place the stop below the previous support area .
What do you think is more likely to happen? Please share your thoughts in comment section. And also give a thumbs up if you find this idea helpful. Any feedback & suggestions would help in further improving the analysis.
Good Luck!
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
USDCAD short trade idea UPDATES!!Still holding my short bias on USDCAD after been stopped at break even on Friday, we are getting a nice reaction from that 1.27300 retracement area showing that it is holding some sort of significance. At the start of the week I will be watching price and trying to get into the best opportunity I can to hopefully catch the large move to the downside.
USDCAD will be messy....The dollar cad broke uptrend structure and now we are expecting some range bound trading until a clear direction is formed. At these levels, I am looking to enter a short position.
BEAR CASE
In the next week, I am expecting a slight move upwards to retest the bottom channel line and then for price to dump to retest 1.26
BULL CASE
Though unlikely, we need to consider the case where there is one more push up to retest 1.30, if the bottom of the channel line doesn't give us the resistance that we are looking for, and serves as a support for a up move, we may enter a long trade.