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Usdcadsetup

USDCAD 260 Pips bullish run expected. Will it reach Sep high?USDCAD ********* ⏳4 Hour chart 🎲 Possible entry analysis ⛳️ Possible bull/bear target 📚Educational —————-❇️——————- Detailed analysis 💬 1️⃣ Trend line bounce, Break and retest around 1.31500 2️⃣ 1.32500 Price action level-Dynamic support 3️⃣ Risk off mode and Rising of virus infections, Falling of Oil- WTIUSD prices 4️⃣ 1.34000 Key psychological resistance 5️⃣ Price Movement within the broader upward channel 6️⃣ Parabolic move was expected from 1.31000 to 1.35000 7️⃣ Technical support - Bear 8️⃣ Minor Bullish Trend 9️⃣ September high Immediate resistance 🔟 Strong DXY- Upward pressure- Negative for CAD #️⃣ Overall bearish trend —————-❇️——————- 📉 Technical bias-H4-Bullish Above200 Exponential moving average 200EMA acting as immediate support - Bullish trend Possible entry point-1.32600 Relative strength index - 50> Above neutral area. RSI trend line support MACD -Felled below the middle line, Red zone territory, Oscillators pointing downward Stochastic -Around neutral area -Short term bullish trend Ichimoku cloud -cloud is turned green-Cloud Support Bollinger band- Price is around higher band-Middle band acting as dynamic support —————-✳️——————- Key reversal area's 1.34000 Key psychological level 1.34160 September month high 1.32510 Dynamic support and resistance 1.36000 Key psychological level-Major key reversal area 1.31200Lower trend line reversal area 1.132510 Possible entry- Bullish —————-✳️——————- Bullish entry #USDCAD Entry price - 1.32520 Take profit 01 - 1.33500 (100 pips) Take profit 02 - 1.34150 (165 pips) Take profit 03 - 1.35150 (260 pips) 🚫 Stop lose 1.31940 (55 pips) Alternative bearish entry-1.34170 ⬇️ 2.0% Growth expected ⤴️ Account growth 0.45 : 2.00 ✅ Risk reward ratio 1 : 4.2 —————-⚜️——————- Push the like button , And cheer up if you found useful
Long
by forexorbit
USDCAD - Parabolic move leads to the cascading effect USDCAD The parabolic move was started on Starting of the September month and ended in September month end. The instability in oil prices caused the Lonnie to lose some ground against greeenback. But after the shift in positive sentiment in the market CAD has gained some ground against USD. After the ABCDE Elliot correction waves formed at the end of previous month its started fall towards 1.31000 key psychological level. We can clearly see the series of consolidation phases and the rapid distribution phases as the consolidation phases slowly expired the Distribution phases which is abrupt rise and fall in the prices. We can see a cascading effect happened around 1.33400 level and felled towards 1.31000 which is almost 240 pips fall in a week which is a 2% Drop. In Elliot wave theory the 3rd major impulse wave was completed and the minor 4th wave is also completed and the 5th wave is underway. We can calculate the length of upcoming 5th wave by merely measure the length of the 1st wave which is around 200 pips. The price is facing a minor hurdle at 1.31000 key psychological level and trading within a 40 pips range we can expect downward play. From this consolidation range and the next drop would be equal to the 200 pips move which is similar to the 1st downward Elliot impulse move. In One hour timeframe the Ichimoku cloud is acting as resistance and 50 Exponential moving average is acting as decent support for the bear And the Bollinger band is narrowing we can expect breakout in coming days. In MACD the histogram is about to turn red and may fall below the middle line .And the oscillators are still pointing upwards and. Relative strength index is at neutral region. In four hour timeframe the Relative strength index is reached the oversold territory and In MACD the histogram is turned green and crossed the middle line and the oscillators are about to cross.200 Exponential moving average is floating around 1.32100 which will act as next upside barrier for the bull. And 50,100 Exponential moving averages are make golden cross. In daily timeframe USDCAD is reached the lower region of Bollinger band if the Today candle is closed above 1.31200 level then it will leave us a bullish engulfing pattern in daily timeframe. Ichimoku cloud is turned green but the cloud is still acting as resistance for the bull. The Relative strength index is at 37 level which is just above the oversold territory. MACD is still in red and the oscillators are still pointing towards south 🎉Hit the thumbs up button if u like our work and do follow us so that you can get a regular update about upcoming setups and ideas 💌 Leave your valuable comments and suggestions related to this idea in the comment section. Thanks for your time. Good day guys 💝
Short
by forexorbit
USDCAD H4. This Analysis Based On Price Action Theory.We Have an Analysis Of USDCAD H4. This Analysis Based On Price Action Theory. According to Multiple Analysis, We Can See That the Market has a Bullish Direction but the market rejected the price from the resistance level Even those market bullish because the market also retests the trend line so on behalf of this we have a target (resistance) level @1.33417 & @1.34208 For More Confirmation, You can see that Bollinger Bands, Fib Retracement & Super Trend The all are reflected Market Bullish Pattern I Request to All Before The Trade You Also Match You're Analysis With As If You're Set up Match Then You Can Trade. Thanks Regard Enclavefx technical group
by Enclave_fx