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Usdcadsignal

USDCAD | PERSPECTIVE FOR THE NEW WEEKSince the price moved 250pips in our direction since my last publication on this pair; the USD/CAD gained downside momentum and is trying to settle below my Key zone at CAD1.3200. Tendency: Downtrend ( Bearish ) Structure: Breakdown | Supply & Demand | Harmonic (AB = CD expectations) Observation: i. Breakdown of CAD1.32500 zone on the 7th of Oct. was followed by significant rejection of level on Thursday & Friday signalling a possible downtrend continuation. ii. In this regard, an ABCD pattern is sighted with parameters explained below; a. Impulse A-to-B will be in harmony with the potential C-to-D leg. b. The B- to-C leg is at 61.8% 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. Trading plan: SELL confirmation with a minimum potential profit of 150pips. Risk/Reward: 1:4 Potential Duration: 3 to 7 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 - 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
USDCAD | PERSPECTIVE FOR THE NEW WEEKWith over 150pips in our direction since my last publication (see link below for reference purposes); the pair remains range-bound between Support at 1.31350 and Resistance at 1.32500 with Breakout potential building considering the hold of the Major Support/Resistance zone on the weekly chart after the Bearish run that started in March 2020. Tendency: Uptrend ( Bullish ) Structure: Trendline | Supply & Demand| Reversal Pattern (Head and Shoulder) Observation: i. Bearish run since March 2020 found bottom at 1.30000 with immediate rejection followed by Higher Highs and Lows. ii. Breakout of the Bearish Trendline a couple of weeks ago with engulfing candles insinuates the dawn of Bullish tendencies. iii. Since the Breakout of Trendline on the 8th of September 2020, the price has found a cocoon at the 1.31350 zone making it a sensitive Demand level. iv. I am looking forward to Breakout expectations off of the Neckline in the following week(s) as Buyers gain momentum from the Demand zone. Trading plan: BUY confirmation with a minimum potential profit of 250 pips. Risk/Reward: 1:3 Potential Duration: 5 to 10 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.
Long
by darcsherry
USDCAD is fighting with 1.32000 levelUSDCAD The price is trading below the 1.32000 which is currently acting as a resistance for the bullish run. In one hour the price is also trading above the 50,100,200 exponential moving average is a clear sign of continuation of bull. On volume profile the price is also above POC – Point of control. On Elliott wave pattern currently third wave is forming. From sep low 1.2993& the uptrend trend line is holding this pair. At 1.31600 bullish engulfing candle is formed. We can buy this pair at current level and the potential take profit will be 1.32700. SL may place below the trendline. Please give us a thumbs up if u like our work and do follow us so that you can get a regular update about upcoming setups and ideas Disclaimer It’s not a financial advice. Do the analyze and take a decision.
Long
by forexorbit
2
GoldCartel - Is Loonie ready for a breakout? or falling deeper?Here's the link to see the beginning of this analysis: Follow up analysis: So far, so good. Currently, my analysis and targets remain the same, I reckon if it can stay below the major daily trendline, USD will keep falling deeper to 1.295, and my final long-term target would be at 1.272 zones. There's also a potential bear flag on H4 Time-frame, a great sign of a bearish continuation. Catalyst: - US Sales data - US EIA - FOMC - US ADP - US Jobless claims - CAD Core Retail Sales - US CB leading index
Short
by GoldCartel
5
USDCAD signal (SHORT)Hello friends. Please support my work by clicking the LIKE button(If you liked).Thank you! Everything on the chart. open pos: looking for short pos on correction targets: ~1.299 stop: above last local high (depending of ur risk). ALWAYS follow ur RM . risk/reward almost 1 to 4 Good luck Follow me on TRADING View, if you don't want to miss my next analysis or signals. Good luck. It's not financial advice. Dont Forget, always make your own research before to trade my ideas! If i help you to earn some money i will RLY VERYVERY appreciate for your donate. Open to your questions or suggestions(PM to me).
Short
by trytofeelpositive
1