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Usdcadsignal

USDCAD inverted head and shoulders pattern has formed in H1USDCAD After reaching the 1.30000 Mark this pair has rejected the downtrend and gone bullish up to 1.31600 At this level the inverted head and shoulders are formed which is a clear sign of bullish correction The price has broken the right side shoulders and stalled at 1.31600 which acted as a resistance for the bull. 1.31500 is a confluence zone which is also a price action level. And trend reversal area. In Elliott wave analysis the second wave is completed and the third wave is in formation stage. And the 100,200 exponential moving average is also acting as a major resistance for the bull. Currently the price is trading below the 1.31000 level. Buying order may place at this level and the potential take profit will be 1.32600. Stop lose may place below the 1.30000 level. In this week we are expecting the bank of Canada will hold the rate and will take a dovish stance which will weaken the loonie. And in previous week the oil was felled very much this will also Influence the price action of Canadian dollar 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
5
USDCAD | PERSPECTIVE FOR THE WEEKI had a Bearish bias last week with price moving over 100pips in our direction (see link below for reference purposes). Despite price action still portrays a dovish tendency, it is important to note that price is presently sitting on major Support/Resistance (see Day/Week Chart) which has been a sensitive Demand area multiple times in the past. As US job figures sparkle and against all expectations, the expectation of a break above 1.31500 in the coming week is strongly a possibility on my radar! Tendency: Uptrend ( Bullish ) Structure: Trendline | Supply & Demand| Reversal Pattern (Harmonic: Cypher) Observation: i. Since mid-July 2020, Price action has connected lower highs and lower lows with parallel trendlines to show a prevailing downward trend. ii. Price crashed into and began a rally from an area that represents a major Support/Resistance level (Demand zone on the chart) in the past. iii. Looking closely at the rally from the Demand zone, I noticed a structure that depicts a Harmonic move (Cypher pattern) represented by the following data; a. Point B retracement of the primary XA leg lies in between 0.500/0.618. b. Point C falls at an approximate of 1.414 extensions of the primary XA leg. c. Expecting 0.786 retracements of XC @ around 1.30300 zone confirming completion of the harmonic pattern at point D. iv. Having observed this, it's pertinent that I state here that a strong rejection of Key level with an engulfing candle shall force me to revert to last week's bias (see link below) as this means that the Buyers are yet to find the momentum to raise the roof! Trading plan: BUY confirmation with a minimum potential profit of 250 pips. Risk/Reward: 1:3 Potential Duration: 4 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 | MY PERSPECTIVE FOR THE WEEKAs price moved over 150pips in our direction since my last publication (see link below for reference purposes); the Canadian dollar continues to benefit from the modest sort-rate spread between US and Canadian bonds. Friday's market watch posted a considerable gain for the CAD as it closed the day with an engulfing Bearish candle... this view at the market pre-empt me to consider a Bearish bias on this pair as I continue to look out for selling opportunity off sensitive resistance level on lower timeframes. Tendency: Downtrend ( Bearish ) Structure: Trendline | Support & Resistance | Breakdown Observation: i. Price action continues to fall within the confines of my Bearish Trendline represented on the chart. ii. Breakdown of my Key level @ 1.31500 during the week (Thursday - 27th August) followed by a possible retest of this level is more than enough for me to initiate a SELL on this one! iii. My 1.31500 level shall be a yardstick to hold my SELL bias in the coming week. iv. Having explained this, it's pertinent that I state here that a Breakout/Retest of this Key level might render this set-up invalid as a Rally could be in the air. Trading plan: SELL confirmation with a minimum potential profit of 120 pips. Risk/Reward: 1:3 Potential Duration: 4 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. NirvanaForex 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 HEADING LONG?!ENG: - Price correcting after breaking our resistance trendline , we are now expecting a bigger move to the upside after the touch. - In case price breaks, we would look for a new long at our supportive zone. PT: - Preço a corrigir após quebrar a nossa resistance trendline , estamos agora a aguardar por um movimento maior para cima, logo após o toque na mesma. - Caso o preço quebra a trendline novamente, iríamos procurar por uma nova posição de compra na zona de suporte.
by Wevesting
Long $USDCAD above 1.3300Hello Sophisticated Trader, Our last analysis was over 300+ in gains, now the USDCAD has found some support and is due for a bounce. Currently, closing back above1.3400 suggests a potential test of 1.3500 and a potential test of 1.3700, oversold conditions also support this and only a close below 1.3330 would negate this bounce. Like, Comment, and Follow. Let's Make Money Together! Happy Trading! Dr. Lydia Smith Where we teach you what you need to know to be a profitable trader.
Long
by DrLydia
USDCAD | WEEKLY PERSPECTIVEAs the USD dropped to its lowest level since early June 2020, the price has moved over 150pips in our direction since my last publication on this pair (see link below for reference purposes). Its been a rough week for the Greenback as it breaks my Key level I @ 1.35000 to sit at the bottom of Bearish Trendline @ 1.33500 area as I anticipate a further Breakdown of this level as a confirmation. Tendency: Downtrend ( Bearish ) Structure: Breakdown | Support & Resistance | Trendline Observation: i. Breakdown and Retest into my Key suggest a further decline of the USD in the following week(s). ii. Price action is back and consolidating at the region it was in early June 2020 with open possibilities for either a Bullish or Bearish option. iii. It is also worth noting here that price closed @ 1.33500 (about 26pips below where it closed at in early June 2020 -Key level II) suggesting an increase in Selling power at this juncture in the market. Trading plan: SELL confirmation with a minimum potential profit of 260 pips. Risk/Reward: 1:3 Potential Duration: 4 to 15 days NB: This speculation can be considered to make decisions on lower timeframes. Watch this space for updates as price action is been monitored. NirvanaForex 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
USD/CAD long/buy idea, almost 75 pips move...In the name of ALLAH who is most merciful and the master... I strictly take trading as a business, not a gambling stuff. I have calculated approximate risk to reward ratio on every single trade with predefined profit/loss levels. Please note: -> Never go beyond 1.5% risk of your total trading capital on a single trade, -> Always move your stops to your entry levels after the price moves 26 pips towards target, -> Always close 71% of your trade position after market makes half movement towards target. Every one has a right to earn a lot of money, but it can only be done by following the rules and principles very strictly!!! REMEMBER: I practice patience in trading. NO EMOTIONS. NO GREED. NO FEAR at all... that's how I do this business... My Risk to Reward Ratio is usually more than 1:3 therefore if I loose a trade, I loose small capital... But when I win, I win really really big... Day after day... Weak after weak... I GROW... --------------------- REQUEST: Please take out some proportion of money from your profits and donate to the poor people...
Long
by WaqqasAsim