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USDCAD Hit the 1D MA200 after 2 months. What's next?The USDCAD pair hit today the 1D MA200 (orange trend-line) for the first time since September 29. This comes after the November 01 top rejection marginally above Resistance 1 (1.38645) got accelerated by breaking below the 1D MA50 (blue trend-line). With the 1D RSI close to the 30.00 oversold barrier, we see an uncanny resemblance with the March 10 - April 03 sequence. It was on exactly the same 1D RSI level when that fractal delivered a short-term rebound that got rejected on the 1D MA50 and then declined to the top of the Symmetrical Support Zone. As a result we expect today or on Monday a similar dead-cat-bounce and late next week a rejection to resume the downtrend. Our medium-term target is 1.3400 (a little over Support 1). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
by TradingShot
2
We expect another falling wave for GBP/CADHello Traders In our last GBP/CAD analysis, we predicted the bearish momentum and made 500-600 pips. after a long retracement, we expect another downward wave. it's too soon to judge because we don't have any solid confirmation yet. I guess "CAD" GDP data will clarify the road. However we feel bearish for GBP/CAD, and expect another 800-1100 pips drop in about two months or so. Our technical view has been shown in the chart. If you like it then Support us by Like, Following, and Sharing. Thanks For Reading Team Fortuna -RC (Disclaimer: Published ideas and other Contents on this page are for educational purposes and do not include a financial recommendation. Trading is Risky, so before any action do your research.)
Short
by FortunaInvestments
2
AUDCAD LONG Trade ManagementI am currently long AUDCAD with +480 pips across two lots. Price has reached an untested supply zone and is also up against a 78.6 fib extension and 50.0 fib retracement level. I am going to go ahead and scale down my positions, take profit and move my stops to trail from break even. Short, medium, and long term indicators support both a strengthening Aussie and Canadian dollar, which can be a little tricky to navigate. In a perfect world you want to see one strong and/or strengthening currency against a weak and/or weakening. Thus I think it prudent to go ahead and take some dinero off the table.
Long
by thetradeWELL
USD/CAD -28/11/2023- Application of ATR ∙ Average true range is a volatility indicator ∙ Low readings or declining ATR line shows that volatility is shrinking and the price is in a consolidation and implies a breakout or higher volatility ahead ∙ The Canadian Dollar is trading lower benefiting from a weak US Dollar but still within the 1.33-1.38 range that is holding for more than a year (since September 2022) ∙ Meanwhile, the ATR kept on declining for the year confirming the consolidation phase ∙ Bulls attempted to break above the symmetrical triangle but failed to build on gains and the price is back within the triangle ∙ Potential triple top at 1.380-1.3850 ∙ Traders are advised to step aside for the moment and not anticipate the breakout which can happen either way ∙ Low ATR value combined with a stretched triangle imply that the breakout is near and can be a big one
by RamziAbouAbdallah-CMT
USDCAD - Small Pullback before another dropThe USD/CAD pair is making a comeback after recent losses in the last session. As of Monday's Asian session, it's trading higher around 1.3660. The Canadian Dollar (CAD) is feeling the pressure due to a drop in crude oil prices. The price of Western Texas Intermediate (WTI) has been on a decline since Wednesday, hovering around $75.00 per barrel at the moment. The dip in crude oil prices is linked to anticipation surrounding the upcoming meeting of the Organisation of the Petroleum Exporting Countries and their allies (OPEC+). Investors are hoping for an agreement on supply cuts extending into 2024. This decline in oil prices follows OPEC+'s decision to postpone a ministerial meeting to November 30. On a positive note, the Loonie Dollar (CAD) gained momentum on Friday. This was fueled by a Retail Sales report for September that exceeded expectations. Retail Sales (MoM) showed a 0.6% improvement, beating the anticipated 0.0% and the previous -0.1% decline. Retail Sales excluding Autos remained consistent with a 0.2% increase, compared to the previous -0.2% contraction. Meanwhile, the US Dollar Index (DXY) is hovering around 103.40, facing challenges in stopping losses despite improved US Treasury yields. The current 10-year and 2-year bond yields in the US are at 4.50% and 4.97%, respectively. This increase in yields is driven by market speculation that the Federal Reserve may consider easing monetary policy in 2024. Investors are keeping an eye on Canada’s Gross Domestic Product (GDP) and employment data, as well as key indicators from the United States, including Q3 GDP Annualized and Core PCE - Price Index. from our point of view this “recovery” of USDCAD is only temporary and can be interpreted as a pullback for more downside to come (please chart for details).
Short
by financialflagship
Eurcad potentially to flip if eur weakens**Find out more from my Tradingview Stream this week** Hello there! If you like my analysis and it helped you ,do give me a thumbs ups on tradingview! 🙏 And if you would like to show further support for me, you can gift me some coins on tradingview! 😁 Interested in following me and getting daily updated analysis? Like and follow me on Tradingview for fast updates! Thank you! ********************************************************************* Disclaimers: The analysis shared through this channel are purely for educational and entertainment purposes only. They are by no means professional advice for individual/s to enter trades for investment or trading purposes. The author/producer of these content shall not and will not be responsible for any form of financial/physical/assets losses incurred from trades executed from the derived conclusion of the individual from these content shared. Thank you, and please do your due diligence before any putting on any trades!
Short
by Shadowing_The_Big_Boys
GBPCAD - Getting Over-Bought ❗️Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. on Daily: Left Chart GBPCAD has been bullish trading inside the rising orange channel. However it is currently approaching a strong daily resistance zone so we will be looking for sell setups on lower timeframes. on H1: Right Chart For bearish momentum to prevail and trigger our sell setup, a break below the recently highlighted grayed low is necessary. Meanwhile, GBPCAD would be bullish and can still trade higher to test the daily resistance again. In this case we will be looking for new sell setups. 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
USDCAD - Follow The Trend 📈Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📈 USDCAD has exhibited an overall bullish trend , trading inside the rising channel in blue. At present, USDCAD is undergoing a correction phase and it is currently approaching the lower bound of the channel. Moreover, it is retesting a strong resistance turned support highlighted in green. 🏹 Thus, the highlighted blue circle is a strong area to look for buy setups as it is the intersection of the green support and lower blue trendline acting as a non-horizontal support. 📚 As per my trading style: As #USDCAD approaches the lower blue circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...) 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
Long
by TheSignalyst
8
USDCAD: Trading at a Potential Support LevelUSDCAD broke above resistance a few weeks ago and has now pulled back towards the zone. If the level holds, then we could say that it has confirmed it as new Support. The 200 SMA is also here now, which may provide further support for this level. If this level proves itself to be bullish, I'd expect USDCAD to make its way up to about 1.39-1.40 during the short–midterm. On the higher timeframes the CAD looks set up to underperform most of the Major G10 Currencies
Long
by RizeSenpai
USDCAD One of the best bullish bets in the market.The USDCAD pair is making Higher Highs within the medium-term Channel Up as presented on our most recent idea (see chart below): As the price is extending its rise, we shift to the 1W time-frame in order to present to you one of the strongest bullish signals on a quarterly horizon. As you can see the pair broke above the (dotted) Channel Down, which on a wider scale is a Bull Flag, while being supported by the 1W MA50 (blue trend-line). The successive 1W Golden Cross into 1W MA100/ MA200 Bullish Cross, is identical to the 2019 sequence that led to a massive early 2020 rise. In fact, the pair shows remarkable symmetry since the January 18 2016 High as it has been trading inside an absolute Rectangle with 1.4700 as its Resistance and 1.20050 as its Support. The Sine Waves show just how cyclical the pattern's peaks and bottoms are. Right now it signals the final phase of the aggressive rally towards the Resistance. We have noticed though that every High has been slightly lower just as every low has beeb slightly lower. As a result we aim at the 0.99 Fibonacci level at 1.4650. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Long
by TradingShot
5
USDCAD: Has topped on a 1 year basis. Sell breakout signal aheadUSDCAD has been trading inside a 13 month Rectangle with clear R1 and S1 Zones. Right now the 1D technical outlook is slightly over the bullish mark (RSI = 56.814, MACD = 0.004, ADX = 33.246) as it is on LH after the November 1st rejection inside the R1 Zone. This is an early sell signal but validation will come if the market closes a 1D candle under the 1D MA50, which hasn't happened since August 1st. If it does, we will target the 0.786 Fibonacci retracement level (TP = 1.33250). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Short
by InvestingScope
CADJPY Bullish as long as the 1D MA50 holds.The CADJPY pair is on a 1D MA50 (red trend-line) bounce, at the high ranges of the Fibonacci Channel Up that started on the March 2020 COVID crash bottom. The 1W RSI shows a Channel Down fractal on its second Lower Low rebound and the previous two such sequences delivered at least one more rally. As a result, we see a strong short term buy opportunity to target the 1.5 Fibonacci extension at 112.000. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Long
by TradingShot
1