Market Analysis 10/10/24Hello,
thank you all for taking the time to join me again.
this video is intended to review the fundamentals and current trends/ prospective trades.
USDCAD_LMAX trade ideas
USDCAD - Parabolic Exhaustion?USDCAD has been in a strong bull run for the last week with price increasing at an increasing rate leading to a parabolic extension.
I may be time to revisit the Mean.
Wait for confirmation of fan trend line breaks before entering, as the bull run could continue basis the upcoming news.
USDCAD hit the 61.8% retracement Intraday Update: As expected in the end of day update yesterday, the USDCAD has hit the 61.8% retracement at 1.3748 (high of 1.3747 this far) and the overbought RSI may suggest that we may see a bit of a pullback near these levels ahead of CPI. A strong US CPI print could put the 1.3791 in play next.
USD/CAD FX | Pre US CPI Key DataUSD Strength has fed well into this week and brought USD/CAD off from the mid-point of the long term sideways movement we have seen form over time.
Any hopes that are further extended (Soft Landing) will likely reduce inflow into USD (Dovish). Any other outcome that supports a hawk case will likely do the opposite.
Price momentum really allows for spread out shorts, should you take them nearer the upper sideways TL.
END of USD Bullish Euphoria?USDCAD seems to be approaching a major resistance zone. Price is creating a massive head and shoulder pattern on Weekly chart. From next week we can look to sell USDCAD. For now, we allow price to complete bullish move into the 1.38 resistance. Be on the lookout for this one.
USDCAD Last Bullish StretchWe will be looking to buy USDCAD for the last time this year. The double bottom is almost complete but not quite. CPI data will push the DXY a bit higher. We can buy now or wait for a retest on Wednesday's high
USDCAD Rally Hits Critical Resistance – Time for a Short?USDCAD has surged in October, but multiple confluences suggest a short-term selling opportunity is emerging. Let's break down the charts.
Starting with the weekly charts, we can see that USDCAD has been in a long-term range-bound market between 1.39 and 1.32, with price consistently respecting this range over the past two years. I've marked another key resistance area at 1.375 in red, which has also held strong multiple times in recent years.
This is the first confluence. The second confluence becomes clear when we zoom into the daily charts. Lining up perfectly with the weekly resistance at 1.375 is the 0.618 fib level from the down leg that started in August (see image below).
Now, taking a closer look at the 4-hour charts, the price is extremely overextended and overbought. When price action reaches this point, especially as it approaches key higher timeframe resistance zones like we are now, a reversal is usually imminent.
Given these confluences, a selling opportunity seems highly likely. With the US CPI data being released today, we could see a spike above 1.375 towards 1.38, followed by a sell-off.
Here’s how I plan to approach this: I’ll wait until after the news. If there’s a sharp spike above the mentioned resistance areas, I’ll fade the move on the first SELL signal from the lower timeframes using my TRFX indicator.
If there’s no spike and price continues to grind up, I’ll be watching for a 30-minute or 1-hour sell signal and will enter the market accordingly.
My first target for this setup is 1.36, with a stop loss around 1.383, depending on where I enter.
Let me know your thoughts in the comments below!
USDCAD 6 days up 0 pullbacks, does that mean its time for a pullHmmm I would like to get some comments from what you guys see on USDCAD please
BUY USDCADUnfortunately, our previous signal failed due to low stop loss. After hearing the words of Mr. Powell, the market acted very excited and weakened the dollar.
Mr. Powell did not say anything new that could further weaken the dollar.
This week I expect a rise for the US dollar. This is a very good place to buy USDCAD. The Canadian dollar has nothing to say against the US dollar.
This suggestion of mine may contain errors. Take care of your money.
good luck
Entery price : 1.3507
SL : 1.3415
Tp : 1.3800
Sell opportunityThe USDCAD pair presents an enticing Sell opportunity at the current price of 1.37251, with favorable potential for profit.
Targets:
Primary Target: 1.36457
Secondary Target: 1.36062
Breakout Scenario: 1.37590
In the event of a breach above the Support level of 1.37590, indicative of a Bullish breakout, the target price is anticipated to ascend towards 1.38000.
Technical analysis indicates a notable Selling sentiment prevailing in the market at the present price level.
Fundamental factors align with the proposed Sell strategy, suggesting Downward pressure on the USDCAD pair.
Prudent risk management measures should be employed to mitigate exposure to potential adverse market movements.
Disclaimer: This analysis is provided based on current market conditions and historical price data. Traders are advised to conduct independent research and exercise caution, employing appropriate risk management techniques, before executing any trading decisions.
#forex #usdcad #buy#USDCAD #BUY
#The price has formed a classic W data return pattern and the indicator has diverged at the price floor, and the 30 area indicator has penetrated upwards.
#SL:1.34183
#TP:1.37178
USDCAD SHORTlast time out I published a long idea, i hope you guys got something from it. now im shifting my focus to the shorts prior to CPi this week. price is currently at a weekly FVg and i think it will react bearish from the imbalance.
USDCAD waterfall dropUSDCAD reaches it’s high, it been quite some time it didn’t have any drawbacks. High chance it will drop at this moment.
It has chance to go up Im in long from hereIt has chance to go up Im in long from here
Not financial advice , calculate your risk.
Idea base on my trading model
Accumulation / Manipulation / Distribution
- No liquidity raid = No trade
- Never buy high and never sell low
“Adapt what is useful, reject what is useless, and add what is specifically your own.”
Dave FX Hunter ⚔
USDCAD huge bearish candle.. lets seeEVERYTHING ON CHART
please check my pre idea so you can understand better
signals and analsys are free... and always will be
USDCAD Short (2)USDCAD sell short as from my previous post spiked a bit before today's US FOMC news we are expecting at 2:00 PM EST. I have placed another short for USDCAD since we are phasing a major bull trend that has been building up for weeks prior to this news. I suggest placing in a short sell NOW prior to any news events occurring.
ENTRY: 1.36880
TP 1: 1.35843
TP 2: 1.35345
TP 3: 1.34797
SL: 25-30 PIPS from your entry
Please message me if you have any questions about this trade! Please enjoy your day and be sure to boost this post, follow this page, and comment what you want the next trade analysis to be! Thanks again from Aventura Holdings!
USDCAD Extends Rally as Strong US Labor Data Lifts the GreenbackThe USD/CAD pair continues its upward momentum, extending its rally to around 1.3645 during Tuesday's early London session. The recent surge in the US Dollar (USD) has been driven by stronger-than-expected labor market data released last Friday, which caused traders to reassess their expectations of aggressive Federal Reserve (Fed) interest rate cuts.
The Nonfarm Payrolls (NFP) report showed a robust increase in employment figures, along with a decline in the Unemployment Rate, which has reduced the likelihood of more substantial rate cuts by the Fed. Investors now anticipate a more modest 25 basis points (bps) cut in the upcoming November meeting, rather than the previously expected 50 bps. This sentiment shift has provided a solid foundation for the USD to gain traction against its counterparts, including the Canadian Dollar (CAD).
In our previous USD/CAD forecast, shared here:
USD/CAD Rebounds from Demand Zone
Bullish Continuation in Sight, we highlighted a key demand zone where the pair found strong support. As anticipated, the price rebounded exactly from our identified area, and we are now approaching our take profit target.
Looking Ahead: Impact of Upcoming US Economic Data
Tomorrow and the day after, significant US economic data releases are scheduled, including reports on inflation and unemployment claims, which could further impact the direction of the USD. A continuation of strong economic performance may push the USD/CAD pair higher, while any signs of economic weakness could lead to a brief retracement.
Conclusion: Holding the Position for Further Gains
Given the favorable technical setup and the strong support from recent labor data, we are holding our long position in USD/CAD. The upcoming economic releases will provide additional clarity, but for now, the momentum remains on the side of the US Dollar. A potential continuation of the bullish trend is in sight, with some volatility expected as traders react to fresh economic news.
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USDCAD Buy ForecastUSDCAD New forecast👨💻👨💻
Note:
Follow proper risk management rules. Never risk more then 2% of your total capital. Money management is the key of success in this business...... Set your own SL & TP.
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Thanks for your continued support!! lemme know your thoughts in the comment sec...
USDCAD very strong uptrend, the pullback will happen I hope the pullback will happen soon, This type of vertical trends are rare, - the types with 0 pullbacks.
NEW IDEA FOR USDCAD In the four-hour timeframe, USD/CAD has crossed the resistance range of 1.3645-1.3622, and now it seems that the 161.8% Fibi resistance is targeting the 1.3788 range.
USDCAD Potential pullback from rather STRONG consistent upsideThis is day 4 of USDCADs rise with no reasonable pullback, and by reasonable I mean at least 30%. There has been none yet. I set a sell stop order as you can see, price has to reach there for it to get filled for the sell. Lets see. I am doing my best to gather honest statistics for myself and my viewers.
waiting for selling scalping for usdcadthe wave wxyxz is finished now we can waiting for seeling confirmation
my usdcad bias price might take out that high and turn bullish, hence coming back to take out that structural liquiidity before continuing the trend upwards
