Usdcadshort
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
USDCAD | REVERSAL | SHORT The Market has a clear RSI Divergence in the 2 hour time frame & we have a CAD news coming up tonight. The Overall Day trend in Downside & Potentially its time for a Reversal. The Market has respected the Pitchorks' previously in this entire trend. Lets wait until we get a clear candle confirmation in 1hr time frame.
Let me know if any.
Regards,
Kishore Frederick
usdcad -sell every time..usdcad gobble downtrend.
try to sell every correction from this area.
Aim is 1.27
over all downtrend
check my previous my chart.
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!!!!!
SELL USDCADThere 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
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.
a fall started... pic speaks a lot... but now only I have few words left.. here u go....
1) a double top in 1W..
2) 4hr a trend reversal is confirmed
3) 30 min a LH formed and started a fall.. hit 1st target.
4HR - target -- 1) 1.40082 (already hit the target.)
2) 1.39406
3) 1.38673
4) 1.38311
in WEEKLY target -- 1) 1.17347 .
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
Rising Channel BreakdownUSDCAD has been moving in a rising channel pattern from the past one month from which it took a breakdown in the previous session. The price has given a daily close below the lower trendline, confirming an upcoming bearish move in the pair. The take profit is set at 1.31833 and stop-loss at 1.3193.
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 !
USD/CAD Technical analysisIt seems the pair is at overbought MM line failed at this level could reach 8/8 MM line @1.29397
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 !
USD/CAD bearish OpportunityIt seems breakout happned from bearish channel resistance trend, So there is a good Opportunity to sell in USD/CAD price until 1.27529
USDCAD Shortbroke counter trendline and it looks like inverted H7S break in 1H time frame but shoulders look very shallow but it has broken the counter trendline H&S can be combined as the launching pattern for this. DXY looks to have support around 92.81 area.
USDCAD still bullish?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 50.
fibo 50 being a strong resistance one no will act as a good support and will push the price higher to targets
1.3835, (extensive target)1.4160
in alternate scenario price breaks below fibo 50 (1.3572) lower tragets are 1.3460 , 1.3309
Happy Trading
