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Usdcadlong

USDCAD M30: Bearish outlook seen, potential reversal on pullbackOn the M30 time frame, prices are holding below the descending channel where a pullback to the resistance zone at 1.2870, in line with the 61.8% Fibonacci retracement presents an opportunity to play the drop to the support target at 1.2780. This support zone lines up with the -27.2% Fibonacci retracement and descending channel’s support. Failure to hold below the 1.2780 resistance zone could see prices push higher to test the resistance zone at 1.2910. Prices are holding below the Ichimoku cloud as well, supporting the bearish bias.
Short
by T3-Consultancy
USDCAD H4: Bearish outlook seen, further downside below 1.2820On the H4 time frame, prices are facing bearish pressure from the resistance zone at 1.2950 which coincides with the graphical support-turned-resistance zone and 38.2% Fibonacci retracement with further downside risks seen. A break below the intermediate support level at 1.2820 would provide the bearish acceleration to our support zone at 1.2680. Ichimoku cloud is showing signs of pressure as well supporting the bearish bias.
Short
by T3-Consultancy
USDCAD: Buy dips!USDCAD Intraday - We look to Buy at 1.2900 (stop at 1.2840) Previous support located at 1.2900. Previous resistance located at 1.2950. Price action looks to be forming a bottom. Risk/Reward would be poor to call a buy from current levels. A move through 1.2950 will confirm the bullish momentum. Our profit targets will be 1.3050 and 1.3100 Resistance: 1.2950 / 1.3000 / 1.3050 Support: 1.2900 / 1.2850 / 1.2825 Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Signal Centre’) . Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Signal Centre.
Long
by VantageMarkets