EURCAD: One More Bullish Move Ahead 🇪🇺🇨🇦
EURCAD is taking off from a solid horizontal structure support.
The price formed a bullish engulfing candle on a 4H time frame,
engulfing the range of the last 4 candles.
Chances will be high to see a movement up.
Goals: 1.485 / 1.4914
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Canadiandollar
EURCAD - Bullish Move !Hello Traders!
ON THE DAILY TIME FRAME THE EURCAD PRICE BROKE THE DAILY RESISTANCE !
Currently, The Resistance Level becomes New Support Level !
So, I Expect a Bullish Move 📈
i'm waiting for a retest...
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TARGET: 1.48955🎯
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✅GBP_CAD SHORT FROM RESISTANCE CLUSTER|SHORT🔥
✅GBP_CAD has reached a
Cluster of the falling and
Horizontal resistance levels
So despite the strong bullish
Momentum of the pair
It seems that before the
Bullish breakout we might
See some correction
From the cluster above
SHORT🔥
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USDCAD: Strong Buying ZoneThe USDCAD has successfully broken out of a triangle pattern and also breached a local resistance line at 1.375, but it faced strong rejection after the break. It seems that the price will undergo a correction towards the last support level at 1.375 or even down to 1.370, which I consider a strong and ideal buying zone for the price to continue its upward move towards 1.385.
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✅USD-CAD BROKE THE NARROWING WEDGE|LONG🚀
✅USD-CAD is presenting us with
The classic trend following long
Opportunity because of the
Confluence of multiple factors
All pointing upwards such as
The uptrend, the bullish wedge pattern
And finally the bullish breakout
LONG🚀
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CADJPY Confirmed sell.The CADJPY pair broke below the January 19 Low and the Arc pattern is giving the same confirmed sell signal it gave on November 11 when this multi-month downtrend had started. Even though the downside may be quite significant if it imitates the whole November - December move (-14.22%), we will target 90.000, which is the top of the 1 year Support Zone, slightly above the 1W MA200 (red trend-line).
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AUDCAD on a Head & Shoulders pattern. Trade the break-outs.The AUDCAD pair is about to complete a Head and Shoulders (H&S) pattern, trading within the 1D MA50 (blue trend-line) and 1D MA200 (orange trend-line). The 1W RSI is far from its Buy or Sell Zone (long-term) so on the more medium-term the best approach is to trade the break-outs.
The neckline of the H&S is at 0.933250 so a candle close above it invalidates the bearish bias of the pattern (H&S is a bearish reversal formation). In that case, we will target 0.95500 (Resistance 1) and a new closing above it will target 0.97500 (April 20 2021 High).
Until the pattern is invalidated, look for a confirmed bearish break-out below 0.90450 (Support 1) and more importantly the 1D MA200 (orange trend-line). In that case the target will be 0.88700 (Previous Low).
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USD/CAD falls as US Dollar weakens and oil prices riseDuring early trading on Thursday, the USD/CAD pair saw a decline, hitting its intraday low near 1.3700. This came after a two-day absence, as the US Dollar weakened and oil prices increased. The US Dollar Index (DXY) saw its sixth consecutive day of decline, with bears pushing the index towards the 102.30 mark. This decline occurred despite the Federal Reserve's announcement of a 0.25% rate hike, as dovish concerns about the US central bank's next move and fears regarding the US banking sector persisted.
While the Fed's rate hike matched market expectations, its statement regarding "some additional policy firming may be appropriate" instead of "ongoing increases in the target range will be appropriate" pushed back policy hawks. The statements made by Fed Chair Jerome Powell and US Treasury Secretary Janet Yellen were also important. Powell indicated that there would be no rate cuts for this year, providing breathing space for greenback bears. Yellen, on the other hand, ruled out considering "blanket insurance" for bank deposits. Bloomberg also reported that the Federal Deposit Insurance Corporation would delay the bid deadline for a Silicon Valley private bank.
Despite a surprise build in weekly inventories, WTI crude oil continued its upward trend, rising for the fourth consecutive day and ignoring the downbeat EIA Crude Oil Stocks Change report. This was driven by optimism surrounding China and hopes for increased energy demand.
Looking ahead, second-tier US and Canadian statistics may entertain traders ahead of Friday's key data, which includes Canadian Retail Sales and US Durable Goods Orders for January and February.
EURCAD - Perfect Breakout 🔥
Hello Traders 💖
As We Talked in the Previous Analysis, The EURCAD price broke the Weekly Resistance level ,the old resistance becomes new support level ✔
Currently, The Price Reached a Support Line and formed a double bottom Pattern !
Now the neckline was broken 🔥
so, I Expect a Bullish Move🚀
TARGET 1: 1.47320🎯
TARGET 2: 1.48730🎯
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EURCAD Bullish supported by the 1D MA50.The EURCAD pair has followed our projected path since the start of the year and recently broke above former Resistance 1:
This was a bullish break-out signal, with Target 1 being at 1.51200. A rejection and pull-back to the 1D MA50 (blue trend-line) again, will be a new buy, with our Target being a little below the December 22 2020 Top at 1.5700.
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EURCAD: Time to Grow! 🇪🇺🇨🇦
Update for my Friday's post on EURCAD.
The price has perfectly respected a horizontal key level on a daily:
after a formation of a double bottom pattern on 4H, its neckline was successfully broken.
Now, a bullish continuation is expected.
Targets: 1.469 / 1.4735
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USDCAD Price Expected to Breakout UpwardThe USDCAD pair is in a long-term uptrend and is currently moving within a short-term triangle pattern. It has almost reached the end of the triangle pattern. I expect the price to break out of the triangle and continue its upward journey, with targets at 1.38200 and 1.39250.
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EURCAD: Time to Grow! Bullish Outlook Explained 🇪🇺🇨🇦
Important update for EURCAD.
The price has perfectly respected a key horizontal structure support on a daily.
On intraday time frames, we also have a perfect confirmation with a bullish breakout of a horizontal neckline
of a double bottom pattern on 4H.
I will expect a bullish continuation next week.
Goals: 1.469 / 1.473
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EURCAD: Top-Down Analysis & Trading Plan 🇪🇺🇨🇦
EURCAD is approaching a peculiar horizontal demand zone.
The price formed a doji candle, testing that on a daily.
Analyzing a 4H, I spotted a double bottom with a higher low.
1.458 - 1.462 is its neckline.
If the price breaks and closes above that on 4H, I will expect a bullish movement.
Goals will be 1.469 / 1.473.
If the price sets a new low though, the setup will become invalid.
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CADCHF: Bearish Move From Key Level 🇨🇦🇨🇭
CADCHF is approaching a key daily structure resistance.
The price formed a double top pattern on an hourly time frame
and broke its neckline to the downside then.
I expect the retracement from the underlined zone.
Goals: 0.673 / 0.67
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CADJPYGood Night :)
GBPAUD has been examined in different dimensions:
1- Strong supply and demand levels that I identify with my own indicator and system.
2- The structure of recently formed waves
3- Current market momentum
4- The structure of classical and price patterns
In this idea, I identified the direction of the market in different ways and in the second step, I analyzed the potential of continuation or reversal. Usually, paying attention to the trend and strength of the trend can greatly increase the accuracy of the analysis.
In general, I tried to describe the continuation of the movement in the simplest possible way in the diagram.
⚠️ Disclaimer:
This is a personal opinion and you are responsible for any trading decisions.
CADCHF: Bears in ControlPrice tapped the lowest point in history and started to push away from the zone creating a double-bottom formation.
Double bottoms mean one thing, retail stops ESPECIALLY in an area of such high importance.
I would like to see a sweep of seller liquidity around the order block before we return to sweep the herd of buyers.
Again, no entries until I am certain.
It is highly likely I won't trade today.
USDCAD: Your Trading Plan For Today 🇺🇸🇨🇦
USDCAD is consolidating on a key level.
We see a narrow horizontal range on 1H time frame.
To buy the pair with a confirmation, watch 1.369 - 1.37 horizontal resistance.
IF the price breaks and closes above that on 1H, probabilities will be high that we will see
a pullback from the underlined structure.
Goals will be 1.374 / 1.378
If the price sets a new lower low, the setup will become invalid.
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