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Usdcadsignal

USDCAD: Ending Diagonal PatternIn some cases, we cannot detect the main trend clearly. But there are patterns that are helpful, they temporarily show the trend. One of these patterns is Diagonal. As you can see in the image, the Diagonal pattern is formed and we are waiting for the price to increase to the range of 1. 3411. To get the confirmation for the uptrend, the price should cross the range of 1.2835. In addition, convergence is evident in RSI. This analysis will be violated by crossing the price from the range of 1.2588.
Long
by NirmataFX
USD/CAD PAIR BREAKDOWN👋 Hey there traders, and welcome to a brand new pair breakdown! 📌 If you like the content that I produce for you all, show some love by smashing the like and follow button, also, leave a comment! That keeps me motivated to produce more content! 📌 Why should you follow me on Tradingview? I'm transparent. I provide educational content. High probability setups I explain all my steps in-depth 📥 If you would like me to analyze a pair, or discuss something educational and or trading related, let me know via private message, or drop a comment! I always respond to all the comments! :) Keep in mind that the analysis provided is not 100% accurate and that you can never be certain about the markets. This information given is not financial advice, always do your own research. Thank you for your time, and let's destroy the markets together!
by UnknownUnicorn7363578
1
USDCAD | Perspective for the new weekWith over 380pips in our direction since my last publication on this pair (see link below for reference purposes); It appears we still have a few more pips to mop as the appearance of a Bearish Rectangle pattern dictates the prevailing direction of price... The risk of further decline gains momentum! The USD/CAD pair gained some positive traction during the mid-European session on Friday and climbed to around the CAD1.27910 which was followed by sharp rejection of this level. As I anticipate making CAD1.27910 my new Sell window in the coming week, the major Supply zone @ CAD1.28400 is still a zone with selling significance. Tendency: Downtrend ( Bearish ) Structure: Bearish Rectangle | Breakdown | Supply & Demand Observation: i. The risk of further decline in the week(s) ahead is still strong as price-action is caught within a Bearish rectangle pattern. ii. Presently, price action is hovering around 61.8% retracement of AB leg with indications that it might evolve into a Harmonic (AB = CD) pattern in the coming week(s). iii. ABCD pattern parameters explained below; a. Leg A-to-B is expected to be in harmony with the potential C-to-D leg. b. The B- to-C leg is currently hovering at 61.8% (with a possible 78.6% in the future) Fibonacci retracement of the A-to-B leg. c. The C-to-D leg is expected to fall within 127.2 - 1.414% Fib. ext. of the A-to-B move. iv. Breakdown and retest of Demand zone @ CAD1.27000 shall inspire a second position. Trading plan: SELL confirmation with a minimum potential profit of 150 pips. Risk/Reward : 1:3 Potential Duration: 1 to 5 days NB: This speculation can be considered to make decisions on lower timeframes. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry
USDCAD - Probability of the formation of Expanding DiagonalUSDCAD - Probability of the formation of Expanding Diagonal Pattern Wave 3 has ended in the range of 1.4689 and the movement structure up to the range of 1.4667 has been in the form of 3 waves, which indicates the corrective movement. Given that the X wave has ended in the range of 1.4667, it is possible that we will encounter the FLAT pattern in the 4th wave. In the downtrend, which started from the range of 1.4667 and should be in the form of 5 waves, according to the FLAT pattern, the movement structure is in the form of 3 waves, which can represent the Expanded Diagonal pattern. Which can prolong up to the range of 1.2039.
Short
by NirmataFX
2
USDCAD: BUYBefore I start with the analysis, I want to thank everyone who liked my previous posts! :) I appreciate you guys. I am calling a BUY signal for USDCAD as it is sitting on a strong support that was tested multiple times, I suggest taking a small position until a reversal is evident. A break from the 100MA and a breakout from the previous high will more or less confirm that a reversal is coming, What I want to see is a little bit of consolidation on the support area, then see if the US NFP is optimistic, then we'll definitely have a good day! :D News to watch out for: US Vaccine (Better Effectivity and early release date: BUY) NFP (If better than estimate: BUY) US Election (Transition) CHEERS! Happy Trading Guys :)
Long
by behindthetrades