On September 21, 2023, the U.S. dollar reached its highest level in 6.5 months after the Federal Reserve indicated that it will continue its restrictive monetary policy. The Swiss franc weakened as the Swiss National Bank decided to keep rates unchanged for the first time since March 2022.
The Federal Reserve held interest rates steady within the expected range...
USDCAD recently broke down the uptrend and retested the imbalance area. We can witness a smooth move of 240 pips taking. We will have to wait for price to settle down on Monday as we had NFP On Friday.
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price is making HIGHER LOW follow the HL and wait for the price to get into Higher time frame SUPPLY ZONE
we further look for LOWER HIGH & LOWER LOWS
with good risk to reward we can enter the trade and aim for the recent HIGHER LOWs (marked in green zone)
As you can see that, USDCAD has created a Double bottom pattern. If it breaks the drawn neck line level then we can plan for buy side and it is for monday (07-08-2023) Plan your trade accordingly...
As you can see that, USDCAD has created a good horizontal support zone, Head and shoulders pattern. If it gives breakout and retest the same drawn level then we can plan for sell side. Plan your trade accordingly...
USDCAD Reacts to CPI & Debt Ceiling Woes
Two big events affecting the USD/CAD pair include the CPI reading from Canada this week as well as the ongoing debt ceiling crisis in the US.
In April, the monthly Canadian headline CPI surged by 0.7%, resulting in an annual rate of 4.4% compared to the previous 4.3%. This increase exceeded the consensus estimates by...
As you can see in USDCAD in 1Hr Time frame has formed Inverted Head and Shoulder. if it breaks the Neck line and retest the neckline level then we can go for buy side. Plane your trade accordingly....
USDCAD Sell trade opportunities
Overall its a sell trend that recently breakout the short-term support line next prediction is will retrace some pips to test the resistance line as I mentioned in the chart or it can be moved down from this point to the next support line.
USDCAD Buy Trade opportunity
USDCAD Buy trade opportunities It again retests the support line and made a strong Bullish candle its a good opportunity for a long with very good risk-reward
Can place the Buy trade above 1.2620 Area and Stop Loss Below the Support line
"Always trade with Stop Loss"
USDCAD H4 update: Good opportunity for Long Sell, Price is running @ support area if it break the support then, we can expect bearish momentum till our final Target.
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What is your view on this?