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USDCAD Bearish Setup (Target Range 400 Pips)Pair Name : USDCAD TimeFrame : 4Hrs Direction : Short Type : Swing Target Range : 400 Pips Bearish Break : 1.25800 ------------------------------------------------------------------------- Neat and clean chart with clear setup, no junk on chart. ------------------------------------------------------------------------- If you like this idea, then smash like button and follow us for regular updates. ------------------------------------------------------------------------- Note:- Do you own due diligence before taking any trades. Thanks
Short
by AkhiPrajapati
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 i said in the last weeks...UC climbed again to the 1.24700 area, as I said last week, see where it had a very strong rejection, forming a range in this area! in the next period I will wait for a close for at least 1 day ... or over 1.24900 from where I will look for BUY until my final target 1.29 ... USDCAD rejected and closed above 1.24700 as I said in the last weeks and even if it rejects from the 1.26300 area and will force and the 1.24700 area I will continue to stay in BUY until the 1.29 area ... my final target! THIS WEEK...as I said in the last few months , USDCAD has reached my final target from where it rejected again in zone 1.24 as I said from here ... even if maybe it will test this area again ... I am waiting for it again reaches area 1.29 and from here ... 1.34 NOTE: Please, give a LIKE if you find this idea useful! GREAT ATTENTION: *This information is not a Financial Advice.
by BloomFX_SIGNALS
USDCAD bears eye another battle with 100-day EMAUSDCAD drops to the lowest level since September 10 during the six-day downtrend on early Tuesday. The Loonie pair’s failure to stay past the key resistances above 1.2800 joins a downward sloping RSI line to direct USDCAD towards a 100-day EMA level near 1.2540. However, the quote’s further weakness will be challenged by the 50% Fibonacci retracement level near 1.2475 and the late July lows close to 1.2420. Meanwhile, recovery moves may find multiple upside hurdles around 1.2700, a break of which will enable USDCAD buyers to re-confront the two crucial horizontal resistances near 1.2810 and 1.2830. While the pair bulls are likely to step back from 1.2830, their dominance past the same will not hesitate to challenge the yearly peak surrounding 1.2950. Overall, USDCAD remains bearish but the important EMA support questions the sellers.
Short
by MTradingGlobal
USDCAD bulls need validation from 1.2810 on Canada Election DayAlike other major currency pairs, USDCAD respects the broad US dollar strength while rising to the fresh high of the month. Adding to the upside pressure is the Federal Elections in Canada, even if the results are less likely to offer any entertainment. That said, the quote heads towards a two-month-old resistance around 1.2810 with the bullish MACD contrasting with nearly overbought RSI to challenge the bulls afterward. Also acting as an upside hurdle is the late August highs near 1.2830-35, a break of which could direct bulls to the yearly peak surrounding 1.2950. Meanwhile, pullback moves may aim for 23.6% and 38.2% Fibonacci retracement levels, respectively near 1.2730 and 1.2600. However, any further downside will be challenged by the 100-day EMA level of 1.2533. While USDCAD buyers are likely to return from 1.2530, any failures to do so won’t hesitate in challenging the monthly low close to 1.2495. Overall, USDCAD remains bullish but a profit-booking move can’t be ruled out.
Long
by MTradingGlobal
USDCAD keeps rebound from 100-day EMA ahead of BOCUS dollar bulls dominate markets following the return of the American and Canadian traders on Tuesday, portraying the heaviest daily gains of the greenback in three weeks. The same portrayed the USDCAD bounce off 100-day EMA, keeping the recovery moves ahead of the key Bank of Canada (BOC) monetary policy meeting. Given the firmer RSI and fundamental scopes for the USD’s further upside, the pair buyers seem to aim for the late August tops surrounding 1.2710 by the press time. Following that, July’s high of 1.2806 and the yearly peak surrounding 1.2950 should lure the bulls. On the contrary, a daily closing below 100-day EMA surrounding the 1.2500 threshold needs validation from 50% Fibonacci retracement of June-August upside and late July’s bottom, respectively near 1.2475 and 1.2420, to please the USDCAD bears. If the pair sellers keep reins below 1.2420, the quote becomes vulnerable to drop towards the June 23 trough close to 1.2250. Overall, the Bank of Canada (BOC) is likely to repeat its hawkish bias and provide hints of tapering. However, any disappointment will be received with firmer USD to entertain the bulls.
Long
by MTradingGlobal