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U.S. Dollar / Canadian Dollar

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USDCAD trade ideas

USD / CAD POTENTIAL BULLISH OPPORTUNITIY. DESCRIPTION: As we can clearly see USD / CAD in a simple trading feature has broken the very strong resistance on a very strong weekly TF. The pair has retested the broken area then rapidly moved up ( break and retest ) as we understand it , giving us further indication that this is no fake out or there is potential to look for bullish gain. 200 and 50 EMA are below the range further solidifying for this pair momentum. Lastly again a demand zone after break and retest has also been broken and the price again went up , giving us a extra strong hint of price future direction. A potential to go long is there , I will be looking to enter on smaller TF , on given opportunities.
Long
by rubinGrg
POTENTIAL SHORT OPPORTUNITY USDCADHello everybody hope you are doing awesome! Just wanted to come on here and give a potential swing trading opportunity I see on the US DOLLAR VS CANADIAN DOLLAR (USDCAD). So let's dive in! Okay so let me give a breakdown for each timeframe of what I am seeing that led to my bias of the next potential move on USDCAD being to the downside for this upcoming week. Weekly Timeframe 1. Price is overbought coming into a past supply/resistance zone. Price last week left a downside wick (hanging man) formation which I believe will be filled 2. There is a nice demand zone and bullish trendline lining up to the downside (ALSO fib retracement 78.6% confluence) Daily Timeframe 1. Price is slowing down 2. Extreme bearish divergence on the daily timeframe 3. RSI is in overbought conditions (which you can see what has happened in the past) 4H Timeframe 1. Watching the buyer momentum making sure it isn't too strong (dominant) 2. Extreme bearish divergence as well 3. Watching for a run of weekly highs and maybe double divergence/run of highs ALRIGHT! Hope that made sense! I definitely see a good amount of potential confluence here on this setup so let's see how price forms this week and see if it plays out to the downside! If you enjoyed the analysis as always please boost this post and follow my page for more analysis! Cheers!
Short
by JosePips
10
USDCAD: ITF CURVE ANALYSIS (5D/12H) - DOWNTREND✨ USDCAD: ITF CURVE ANALYSIS (5D/12H) ✨ (DOWNTREND) SLO2 @ 1.40354 ⏳ SLO1 @ 1.4020 ⏳ MO @ 1.4000 - TIRGGERED (FOR THE BRAVE) SSO1 @ 1.38219 ⏳ TP1 @ 1.34155 TP2 @ 1.30740 TP3 @ 1.28224 TP4 @ 1.24338 TP5 @ 1.2150 (Secret TP) BLO1 @ 1.23404 ⏳ (DO NOT SET - ALLOW PA TO PASS/THEN SET AS BSO) BLO2 @ 1.21137 ⏳ 🔑 BLO = BUY LIMIT ORDER BSO = BUY STOP ORDER ITF = INTERMEDIATE TIME FRAME MO = MARKET ORDER PA = PRICE ACTION SLO = SELL LIMIT ORDER SSO = SELL STOP ORDER TP = TAKE PROFIT NOTE: This pair owes me money.... angry trade. FOR VIEWING PURPOSES ONLY.....LOL Intermediate time frames (4 hours to 6 day): — Offer a clearer picture of the underlying trend compared to short-term frames. — Provide more opportunities for confirmation signals and technical analysis. — Allow for more flexible trading schedules, trades can be held overnight. — Suitable for swing traders and some positional traders.
Short
by oktane
1