No Markup Needed for CXYCanadian dollar respecting daily resistance and 200 EMA (Purple MA). Check out the CAD pairs and enjoy the pips =)
CXY trade ideas
LOONIE (CANADIAN DOLLAR INDEX) (CXY) DAILY TIMEFRAME SHORTThe Loonie index is currently moving in a downtrend, as shown by the lower highs and lower lows on the daily timeframe. This is also in sync with the commodities markets (crude oil, well and even gold), which have been experiencing bear pressure lately. It is no secret that currencies like the Loonie (Canadian dollar), Aussie (Australian dollar) and the Kiwi (New Zealand dollar) are driven by commodities. The outlook of the commodities market can give us a bias towards these currencies especially if their movements are in harmony.
If the index can break above the 75 price level, then we could see a potential bull run. For now, our bias remains bearish with potential targets around the 72 price level.
CXY forecasting D194.5 starting to look like real support turned resistance. Past 2 weekly Fib pivots have been respected (94.4) and monthly pivot also respected as shown. Monthly S1 also held but downtrend is still valid here, until channel break.
Oil also showing potential bearish flag/bearish Gartley which could help the bearish movement on CAD, as long as flag doesn't break upwards and continue to make a higher high. USDCAD is still keeping its range, showing CAD ultimately fighting but hasn't managed a downward break yet.
CXY - CAD Long Term Weakness Continued?Expecting CXY to continue its long term weak trend.
CAD/XXX = \bearish
XXX/CAD = /bullish
*Generally, XXX matters just as much!
CXY - Canadian Dollar Currency Index (Neutral)CXY - Canadian Dollar Currency Index
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Currently in a 4 week range, saw a good surge of buyers on Friday.
It is currently attempting to test 2017 descending channel.
The reaction to this trendline will be instrumental in what happens next for the CXY
Let us wait and see.
Should we see a breakout, expect a retest of the trendline then more upside move
CXY - CAD - Strength Followed By Weakness?Thoughts?
Hard to chart index's sometimes.
Expecting a bit of strength before some further weakness.
CAD INDEX - short at Symmetry wave 6Wait for CAD index pass over MA200 = 4% and RSI must not beyond 70 for a sell + a divergence is at Momentum
FX: Indexes on forcushi all,
Based on price structures, I focus on 4 currency indexes in this week.
1. CAD: Forming a flag correction which implies a next move.
2. CHF: confirmed to going down, price may has a small correction and form the bearish trend.
3. JPY: likely to break! We must wait for breakout or sell from top of correction.
4. USD: We catch the end of trend. Risky but high probability.
=== PAIR TO FOCUS =====
*CAD => Bear
*CHF => Bull
I will go in details on each pair on other topics.
Regards,
URI
CAD index - a big uptrend at Daily timeframe- MACD histogram highest during for 3 months
- Current TOP is broken the biggest retracement of the nearest downtrend (wave VI to VII) and I think here is Elliot waves 1.
-Thus, I predict CAD index will go up from the wave VII to wave VIII.
- 3 targets are calculated by Elliot waves' rule.
