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Usdcadshort

USDCAD I've entered a short 🔻USDCAD short trade has alerted. Reversal trade identified and entered. Working the 30M timeframe. Trade details can be found on the chart in the red label. Trade box is tracking the trade. Has USD strength ran out of steam on this pair? Who knows be it a change in the trend or a slight retrace I have a 77 pip target for my TP to be met. We'll see where it ends up. Want to know how I identified this trade you know what to do. Thanks for looking Darren🙌
Short
by pow_removetheguesswork
TECHNICAL IDEA ON USDCADIn my little analysis I think USDCAD has been on a bullish rectangle from at least june, last year and through april this year as well. And it broke out of the rectangular pattern, with an ascending triangle. From which it has broken out this week to hit the long-term resistance zone of almost 7yrs ago. So even if it will continue to rise, I believe price is will come back to test the 2yr low {1.3000s} after hitting {1.3600s}. and if I want to jump on this pair, I will go short once I spot my entry trigger/s on that area of value. My Possible targets would be {1.3200s and 1.2900s}.
Short
by BOURNEBEE-FX
TECHNICAL IDEA ON USDCADIn my little analysis I think USDCAD has been on a bullish rectangle from at least june, last year and through april this year as well. And it broke out of the rectangular pattern, with an ascending triangle. From which it has broken out this week to hit the long-term resistance zone of almost 7yrs ago. So even if it will continue to rise, I believe price is will come back to test the 2yr low {1.3000s} after hitting {1.3600s}. and if I want to jump on this pair, I will go short once I spot my entry trigger/s on that area of value. My Possible targets would be {1.3200s and 1.2900s}.
Short
by BOURNEBEE-FX
USDCAD BIAS: SELLIn the h1 timeframe, we have seen that the usdcad has broken the price structure by breaking below the current immediate support level (higher low), and it's out of the wedge already. The support level has now been retested and rejected, turning into resistance, as a result of the small bearish candle that has formed, showing us that the momentum has shifted in favor of the bears now. We could experience a strong bearish move on usdcad soon. If you have been bullish on this pair, it's advisable to exit now before you get screwed. Also, the price has broken below 50 and 20 EMA's. These two moving average is about to completely cross over, showing us a strong bearish signal as well. Be wary if you are already a bull on this pair.
Short
by OraclePips
USDCAD | A BEARISH REVERSAL?USDCAD | BEARISH REVERSAL USDCAD has formed a short term top at 1.33084 where daily closing gives a rejection candle indicating a bearish reversal sign. On the shorter timeframe, the USDCAD has shown multiple bearish sign which gives weight for further downside atleast for short term (if not reversal) 1. Formation on Head and Shoulder Pattern Head n Shoulder is a reversal pattern and is more effective when formed near top resistance after a bullish rally. In our case, we have seen good bullish rally in USDCAD then testing the top and failed to break above it. Since the formation is on lower timeframe the pair can move short term in downward direction. 2. Break of Key Support Trendline. USDCAD has been respecting the key level of rising support trendline where every time price moves in the direction of trendline, bulls give respect to it and raise the price from there. But recently we have seen a clean break below from trendline indicating the bulls are exhausted and might remain absent from the scene atleast for the shorter term. 3. Appearance of Bearish Divergence on Key Resistance Divergence has always been a key indicator in catching the bullish/bearish reversal specially after forming on top. This time the divergence has appear on RSI where price is making higher high and indicator is making lower high; a sign of bulls tiredness. We may see a fall once the highlighted support is broken TRADE PLAN: One can adopt sell on strength strategy with just 50 pips stoploss from the current level. First Target is 70 pips below the current level while one can play for further downside if bulls remain absent from the scene. Let us know what do you think of the idea in comment sections.
Short
by TradeTrio
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