Usdcadanalysis
USDCADDear traders,
As I have been accustomed to in recent months and this time my technical analysis had an accuracy rate of over 95% and I will try to continue to keep this percentage as long as possible
As ai said in the last week...As you can see on the 1 week and 1 month chart, USDCAD is at a much too important point and much too strong not to think of a massive rejection and a BUY between 400 and 900 pips!
even if maybe it will test the trend line again ... I will set TP1 to 1.24700 and then to 1.29700 in the next period
THIS WEEK...UC reached the first TP from 1.24700 and even if it rejects and goes down to the 1.23700 area my final target remains 1.29700
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GREAT ATTENTION:
*This information is not a Financial Advice.
USDCAD USDCAD After a huge downwards trend it started to go up after creating Double Bottom. so every drop buy when u want to have a profit
usdcadusdcad in edge line weekly if breaks then going down from here or its take a support then going up
USDCADUpside Trend {Down Trend Break}
TG1 = 1.28166
TG2 = 1.28516
TG3 = 1.28855
TG4 = 1.29334
STL = 1.27400
For DownTRend
TG1 = 1.27251
USDCADCurrent Trend(Downside)
TG1= 1.27720
TG2 = 1.7086
TG3 = 1.26202
STL=1.28360
For Upside Trend(If Trend Line Breaks)
TG1 = 1.28360
TG2 = 1.28871
TG3 = 1.29223
STL = 1.27086
USDCAD analysis for short term as per Wave TheoryPlease check the Long term analysis for the bigger picture;
As per the bigger picture we know there is a Flat structure forming and hence we will have a downward Impulse; In short we will have a 5 Wave structure formed in the downward direction; Below is the Wave 1 complete picture verifying every Wave in the Wave 1 which confirms completion of the Wave 1 and now Wave 2 will be an Upward Move as its gonna be a Correction;
Confirms completion of Wave 1
After the completion of Impulse we have a Correction hence here is the picture of the Type 2 Zigzag (where Wave A or C one of them is 5 Wave Impulse whilst other is a ABC correction)
This completes WAVE A a 3 Waved structure and now Wave B is forming lets check it out as well;
For now we have a downward 5 Wave Impulse almost formed which makes Wave A (Wave A of Wave B) then we will have an upward Correction (Wave B of Wave B); then we will have a downward correction structure Wave C (Wave C of Wave B)
After completion of Wave A and B which will be both 3 Wave structures then we will have an Upward Impulse a 5 Wave structure.
This will complete WAVE 2 on the bigger picture;
I am sure about this analysis; this is based on Elliott Wave Theory
USDCAD analysis as per Wave Theory
We see a downward Impulse complete and then a Correction ABC, in the upward direction which is Wave A; Wave B will be a downward correction as Wave B is in counter Trend direction; also we see in Wave B we have a Wave A as a 3 Wave structure Wave B also is a 3 Wave structure hence Wave C will be a downward Impulse and thus Wave B will complete.
Hence we are looking for a massive move in the downward direction;
So this is our Long Trem Trend and now accordingly we can keep shorting in every pullback
BUY USDCAD!!!USDCAD has given us a beautiful retracement to the downside and this has given a great opportunity to take a long in this pair.
This region holds strong support(Weekly and Monthly) at prices that are supposed to bounce from here to the region of 1.38900 approx.
So, we can take a long position here :)
FOLLOW US FOR MORE!!!
FULL ANALYSIS OF USDCAD!!!!Okay, so what kind of situation do we have here in this pair...
Today USDCAD got support around at 1.37500 area. Now, prices might test 1.39000 levels before continuation to the downtrend ( As the region is broken).
But it's not the right time to enter short as we have to see the market reaction at 1.39000 levels. If prices get a rejection from there then we will be taking a good short from there!!!
At this time, we can take a long to 1.39000 target approx.
If not taking long then wait and keep this pair on your watchlist!!!
FOLLOW ME FOR MORE!!!!!
USDCAD SHORT TRADE SETUPThe weekly is turning up against the 9/8/2017 lows at 1.2061. The daily & 4 hour right side is up with a bullish sequence against the 12/31/19 lows at 1.2944. While below 1.4266 where the hourly is turning down the pair can continue lower to correct the cycle up from the 12/31/19 lows.
USDCAD LONG TRADE SETUPThe weekly is turning up against the 9/8/2017 lows at 1.2061. The daily & 4 hour right side is up with a bullish sequence against the 12/31/19 lows at 1.2944. While above 1.3852 where the hourly is turning up the pair can bounce to correct the cycle lower from the 3/19/20 highs before a turn lower to correct the cycle up from the 12/31/19 lows.
USDCAD LONG TRADE SETUPThe weekly is turning up against the 9/8/2017 lows at 1.2061. The daily & 4 hour right side is up with a bullish sequence against the 12/31/19 lows at 1.2944. While above 1.3995 where the hourly right side is up the pair can bounce to correct the cycle lower from the 3/19/20 highs before a turn lower to correct the cycle up from the 12/31/19 lows.
USDCAD WEEKLY FORECAST (20TH APRIL TO 24TH APRIL )The weekly is turning up against the 9/8/2017 lows at 1.2061. The daily and 4 hour right side is up with a bullish sequence against the 12/31/19 lows at 1.2946. While above 1.3850 where the hourly is turning up the pair can bounce to correct the cycle lower from the 3/19/20 highs before a turn lower to correct the cycle up from the 12/31/19 lows.
USDCAD Elliot impulse wave formationUSDCAD
The oil dependant canada is nowdays struggling to recover as the oil prices are are at low level and currently trading at 20 dollar per barrel
Which inturns its affects the CAD negatively
Currently in USDCAD Elliot wave if forming, Wave 01 is completed and wave 02 is forming
We can expect to close this wave at resistance level 1.42100 which is also a 61.8% Fibonacci
From this level we can open short positions and the primary target would be 1.37270 which is a 1.272% Fibonacci
And the final target would be 1.33280 which we are expecting the point where the wave 05 going to close
Stop lose may placed above the 1.43050 level which is a 50% Fibonacci
Leave your comments below
USDCAD Technical AnalysisUSDCAD the pair has been bounced with the bullish trend, Currently the pair trading below the Daily Resistance level @1.3379 with the lastest 4hr resistance @1.3390, The pair holding a bullish pattern , we can see a short term sell before rally to test support @ 1.3320/1.3300 , However we keep a bullish bias (targeting USDCAD 1.36 by year-end) in light of longer-lived negative factors persisting, as the housing market remains a drag on construction, and household consumption growth is limited by debt service ratios reaching a record high.”
keep eyeing on Fundamental data CPI and Core Retail Sales Data.
Short term Sell
@1.3365/75
Tgt: 1.3315
Sl: 1.3399
Good Luck !
A Possible complex corrective structure.(USDCAD)Hi, Trader
As i am observing on chart that price is in consolidation. but the possible trend is down so every pullback is a opportunity to take short position
If any possibilty to buy get that trade only when you have good money management. Y " wave is question mark because if we focus on w " wave it is also a three wave corrective structure from that point may be new start of impulse.
Note: This is mere a idea not a trading signal to trade. Trade carefully !
Thank you for your support !
