usdcad in edge line weekly if breaks then going down from here or its take a support then going up
Please 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...
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...
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!!!
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...
There is a wedge pattern in daily chart of USDCAD, and indicating that it may test 1.3800 level again. So, it's a great time to go short on USDCAD and TP - 1.3900 approx. It have high chances to test this level
The 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.
The 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.
The 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.
LONG USD CAD will give profit. At this time it is at support TP-1.42300
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 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...
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...
USDCAD was on bullish trend from last week, but we can see a consolidation from last 2 days the question is " is this the end of shot bullish trend" so here is what i think from last few days it has been resting on weekly pivot and testing its support and below that is the fibo 50 Percent support in any chance if it breaks the pivot i might end up hitting fibo...