Usdcadidea
USDCAD possible buy zone!!USDCAD has formed a bullish engulfing on the weekly timeframe in the direction of the up trend. On the daily, there is an inverted head & shoulder visible. On the retest of the neckline of daily inverted head & shoulder, a long trade is possible!
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USDCAD possible sell zone!!USDCAD( D ) has formed another bearish engulfing in the direction of a daily downtrend from daily 20EMA. There has been already a series of bearish of engulfer in the direction of the trend with a series of lower highs. A possible sell opportunity may arise upon the close of the daily candle with a lower low.
USDCADCould we still see a continuation of the bearish sentimet of USDCAD?
With possible recession questions asked within the US and a reported strength in the Canadian economy, anything is possible.
However, from structural bais, trend has been bearish with successive BOS of demand zones, could a possible entry be taken then?
USDCAD possible breakdown?USDCAD (4H) has been rejected monthly resistance. As the price was moving along an upward channel, the price is likely to drop back to the support zone. Currently, on 4H we see a head & shoulder with double Doji, possible breakdown ahead?
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USDCAD top-down analysisHello traders, this is the full breakdown of this pair. We will take this trade if all the conditions are satisfied as discussed in the analysis. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
USDCAD Sell - Downtrend ContinuationUSDCAD Sell/Short, Continuation of Downtrend.
Entry: 1.29454
1) Has lined up with golden level 0.618 Fibonacci retracement level for recent swing high
2) Top of a short term bear flag channel and short term recent resistance
Stop Loss: 1.29834
1) Above 0.786 Fibonacci retracement level
2) Just above some swing highs on Daily Chart
Take profit (3): 1.27059
TP1 1.29044
TP2 1.28235
TP3 1.27097