Evening Forecast 14/01/2024 (DXY & TOP 6)Hello! this is my evening forecast on 14/01/2024 (DXY & TOP 6). Please do let me know your thoughts.
USDCAD trade ideas
USDCADUSDCAD is in bearish trend.
Potantially printing LH and LL.
No sign of reversal here.
Bearish continuation Flag pattern also form.
we wait for the breakout of flagpole.
BUY TREND in USDCAD market, it's consolidate in a range....📈 USDCAD Price Forecast 📈
The USDCAD market is currently consolidating within a range, positioned at a supply zone. The direction will depend on whether buyers or sellers take control at this critical level.
📌 Bullish Scenario:
Buyers are gaining momentum, as indicated by the break above the 50 EMA and increased buying volume.
If buyers dominate, a breakout above the supply zone is expected.
📌 Bearish Scenario:
If sellers take charge at the supply zone, the price will likely break down below the 50 EMA, heading toward the demand zone.
A bounce from the demand zone could lead to a renewed bullish move.
🎯 Technical Target Levels:
- 1.4460
- 1.4520
- 1.4580
📌 Key Highlights:
- Consolidation phase with potential for breakout or breakdown.
- Watch for price action around the supply zone and 50 EMA for clear direction.
- Volume indicates current buyer strength, but sellers could still influence the market.
✅ Stay Informed and Ready!
Like, comment, and follow for precise updates and forecasts.
Don’t miss the next big move—be prepared with actionable insights! 🚀
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#USDCAD #ForexTrading #TechnicalAnalysis #TradingSignals
Bearish reversal off 61.8% Fibonacci resistance?The Cable (USD/CAD) is rising towards the pivot which liens up with the 61.8% Fibonacci retracement and could drop to the 1st support.
Pivot: 1.4403
1st Support: 1.4340
1st Resistance: 1.4442
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Canadian Dollar Rises Amid Tariff Concerns and Oil GainsHello,
FX:USDCAD : The Canadian dollar slightly rose against the U.S. dollar, with bond yields reaching multi-month highs, partly recovering from recent declines due to U.S. trade tariff threats. The loonie traded at 1.4405 to the U.S. dollar, recovering from a near 5-year low in December. Concerns about potential U.S. tariffs and their impact on the Bank of Canada have influenced the market. Despite strong job data in December, investor confidence in further BoC rate cuts has waned. Speculators have increased bearish bets on the Canadian dollar. Meanwhile, the U.S. dollar gained against major currencies as expectations for Federal Reserve rate cuts diminished. Oil prices rose 2.9% to $78.82 per barrel due to anticipated U.S. sanctions on Russian oil. The Canadian 10-year yield increased to 3.507%, marking its highest level since July 9.
For this pair a bearish reversal is still anticipated in the near future!
No Nonsense. Just Really Good Market Insights. Leave a Boost
TradeWithTheTrend3344
SHORT in USDCADHello fellow traders,
We have witnessed a notably bullish trend in the USD over the past few weeks. However, I am anticipating a significant correction soon. Based on technical analysis and the recent rise in oil prices, I am considering opening a short position on USDCAD.
What are your thoughts on this strategy? I would appreciate any insights or opinions you might have.
USDCAD PullbackThere is some key econ data coming out this week. Looking to short into key Fib levels before looking for longs again. The dollar is very strong, however I believe is over extended a a pullback is next before we see higher highs.
USD-CAD Strong Uptrend! Buy!
Hello,Traders!
USD-CAD made a bearish
Pullback from the resistance
Level of 1.4469 just as I
Predicted in my previous
Analysis but as the pair is
Trading in a strong uptrend
We are bullish biased so
After the pair retests the
Rising support line we
Will be expecting a
Further bullish move up
Buy!
Comment and subscribe to help us grow!
Check out other forecasts below too!
USDCAD Potential UpsidesHey Traders, in today's trading session we are monitoring USDCAD for a buying opportunity around 1.44000 zone, USDCAD is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 1.44000 support and resistance area.
Trade safe, Joe.
Falling towards overlap support?USD/CAD is falling towards the support level that lines up with the 50% Fibonacci retracement and could bounce from this level to our take profit.
Entry: 1.4369
Why we like it:
There is an overlap support level that aligns with the 50% Fibonacci retracement.
Stop loss: 1.4340
Why we like it:
There is an overlap support level.
Take profit: 1.4443
Why we like it:
There is a pullback resistance level.
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USD/CAD Bulls Eye Resistance for Fifth WeekUSD/CAD has been trading just below resistance for over a month now at the 1.618% extension of the 2023 advance at 1.4483 . Note that the upper parallel of the ascending pitchfork continues to cap the December breakout.
Initial support rests with the 75% parallel (currently ~ 1.43 ) with bullish invalidation now raised to 1.4099-14115.
Ultimately a breach / close above the 2016 close high at 1.4538 is needed to fuel the next major leg of the advance towards 1.4660/90 - a region defined by the 78.6% retracement of the 2003 decline, the 1.618% extension of December advance and the 2016 high. Look for a larger reaction there IF reached.
MB
BUY TREND in USDCAD market, it's consolidate in a range....📈 USDCAD Price Forecast 📈
The USDCAD market is currently consolidating within a range, positioned at a supply zone. The direction will depend on whether buyers or sellers take control at this critical level.
📌 Bullish Scenario:
Buyers are gaining momentum, as indicated by the break above the 50 EMA and increased buying volume.
If buyers dominate, a breakout above the supply zone is expected.
📌 Bearish Scenario:
If sellers take charge at the supply zone, the price will likely break down below the 50 EMA, heading toward the demand zone.
A bounce from the demand zone could lead to a renewed bullish move.
🎯 Technical Target Levels:
- 1.4460
- 1.4520
- 1.4580
📌 Key Highlights:
- Consolidation phase with potential for breakout or breakdown.
- Watch for price action around the supply zone and 50 EMA for clear direction.
- Volume indicates current buyer strength, but sellers could still influence the market.
✅ Stay Informed and Ready!
Like, comment, and follow for precise updates and forecasts.
Don’t miss the next big move—be prepared with actionable insights! 🚀
📢 Join the trading community for expert analysis and consistent success!
#USDCAD #ForexTrading #TechnicalAnalysis #TradingSignals
USDCAD Will Go Up From Support! Long!
Take a look at our analysis for USDCAD.
Time Frame: 4h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is trading around a solid horizontal structure 1.438.
The above observations make me that the market will inevitably achieve 1.444 level.
P.S
We determine oversold/overbought condition with RSI indicator.
When it drops below 30 - the market is considered to be oversold.
When it bounces above 70 - the market is considered to be overbought.
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Usdcad bearish entry level🌟 USDCAD Analysis 🌟
I shared this last before it got to the entry.
We've seen a strong uptrend in #usdcad for a while now, but what's next? 📈
✔️ Double high formation
✔️ A nice bearish engulfing pattern breaking out of the trend
Now there is a retest on the trendline, and then it's time to buckle up for a bearish loooong ride! 🔥
Let's see how it plays out and if the bears can take control! 🐻
Note: This base on technical factors
Two very high impact news this week, PPI and CPI
USDCAD BEARISH BATHarmonic Pattern Trading Strategy:
1. Combine patterns with 2-3 confirmations (e.g., MA, BB, RSI, Stoch) for increased accuracy.
2. Implement proper risk management.
3. Limit exposure to 3% of capital per trade.
4. Exercise caution: Not every Harmonic Pattern presents a good trading opportunity.
5. Conduct thorough diligence and analysis before trading.
Disciplined approach = Enhanced edge.
uptrendIt is expected that after some fluctuation and correction, the upward trend will continue. The powerful price needs to break through the resistance range.
USDCAD LongUSDCAD has had a decent retracement and retesting last resistance at 1.437 and could be trying to find support.
I am long USDCAD.
USDCAD Swing setup possibly forming....On the Weekly timeframe, USDCAD is slowly nearing a very interesting area. Watch this carefully, might take 1-3 weeks to reach there. This area has two times before been slightly touched. Jan 2016, REJECTED. March 2020, REJECTED.
My dream scenario is a triple tap to this resistance line and immediately followed by a big SELL.
This can be traded as a swing trade, or by using the sell off weeks for smaller day/intraday trades.
My plan is to open one swing trade with 0.5% risk and keep it running for as long as it takes. Then I will use another 0.5% risk on this pair for day trading on the way down.
Accumulation phase - Wait for breakout...We have a Major ascending channel on the daily time interval
And a minor ascending channel on the hourly time intervals,
With price accumulating at a weekly resistance level
We will wait for a breakout or rejection to take place.
USDCAD Will Fall! Sell!
Here is our detailed technical review for USDCAD.
Time Frame: 1h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a key horizontal level 1.441.
Considering the today's price action, probabilities will be high to see a movement to 1.439.
P.S
Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all.
Like and subscribe and comment my ideas if you enjoy them!
USDCADBulish Bais
1:dow theory Bulish
2:no divergence
3:trend line fallow price
4:test trend line candle stick pettren
(Bulish engluf ) make .
entry 1.40594
SL:1.39050
TP 1.41598
RRR1:1.34
