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USDCAD ANALYSIS ON H4 CHART.Overall, USD/CAD is ranging across. Recently, USD/CAD broke above the key level of 1.27. The Canadian GDP m/m data (Actual: 0.0%, Forecast: 0.0%, Previous: 0.6%) released yesterday indicated no change in economic growth during last December. The Bank of Canada (BoC) will be announcing their monetary policy decision later at 2300 (GMT+8). It is expected that the central bank will be hiking interest rate by 0.25%. With inflation in Canada rising to a 30-year high level of 5.1%, it is possible that the BoC may be hiking interest rate by 0.50%. If so, CAD may receive a strong boost. USD/CAD’s next support zone is at 1.26100 and its next resistance zone is at 1.29200. Look for short-term buying opportunities of USD/CAD.
Long
by charliedavies770
Key EMAs defend USDCAD bulls ahead of BOC rate-hikeBank of Canada (BOC) is up for the first rate-hike since 2017 but the markets are have already priced in a 0.25% lift to the benchmark rate, which in turn may not entertain the USDCAD bears until forward guidance appears hawkish. Technically, 100-EMA and 200-EMA offer strong supports near 1.2660 and 1.2640 to limit the quote’s short-term downside. If the pair bears conquer the 1.2640 support, a downward trajectory towards the 61.8% Fibonacci retracement of October-December 2021 upside, near 1.2550, can’t be ruled out. However, an upward sloping trend line from October 2021, near 1.2520, will be a tough nut to crack for the sellers afterward. Alternatively, a disappointment, or negative surprise, from the forward guidance could trigger the quote’s recovery moves towards the mid-December 2021 low near 1.2760. Following that, the 1.2800 threshold and 1.2850 levels may entertain USDCAD bulls before directing them to February’s peak of 1.2877. Overall, BOC may not please USDCAD bears until doing more than what is already expected. Other than the BOC, OPEC+ meeting and geopolitics also keep the spotlight on the Loonie pair as prices of Canada’s key export WTI crude oil rally of late.
by MTradingGlobal
USDCAD hovers inside fortnight-long rectangle, BOC’s Macklem eyeUSDCAD remains chopped inside a 140-pip trading range in the last two weeks, recently fading the bounce off the lower end comprising 200-SMA. Given the steady RSI and a pullback in oil prices, Canada’s key export, the Loonie pair is up for further recovery. However, comments from the Bank of Canada (BOC) Governor Tiff Macklem will be crucial to watch for intraday directions. That said, the recovery moves will initially be challenged by the 61.8% Fibonacci retracement (Fibo.) of late December-January declines, around 1.2770. Following that, a convergence of the stated range and the monthly resistance line near 1.2790 and the 1.2800 threshold will challenge the USDCAD bulls. In a case where the Loonie prices cross the 1.2800 hurdle, January’s high of 1.2813 may act as a validation point for the rally targeting the late 2021 peak of 1.2963. Alternatively, pullback moves remain elusive beyond the stated range’s support, around 1.2650. Even if the quote drops below 1.2650, the 100-SMA level surrounding 1.2630 will challenge the downside before directing the USDCAD bears towards the 23.6% Fibo. near 1.2565. During the quote’s weakness past 1.2565, January’s bottom of 1.2450 will be in focus. Overall, USDCAD has more downside filters than the otherwise case, which in turn can tease bulls for a quick rule on the upbeat outcome.
by MTradingGlobal
entry based on break on the level of h4 and used some new techsorry for late signal but it will hit it you can ask any question about it HOW TO USE MULTIPLE TIME FRAME ANALYSIS?? Iam trading for more than 10 years and i used every trading tools and strategies , example; order flow, sentiment, renko system ,point and figure and other very strong strategies but i understood this forex market is fractal(meaning what u see yesterday that repeats again and again in any time frame, so i found that multiple timeframe analysis is best, in past traders use only moving average and 1- days or 10 days closes breaks they generate bout 80% a year that time, but now brain have improved and people found so many techniques with that tools now we can generate any% of money, yes iam serious, now traders making more than banks, at the same time people losing more than bank,, but its natural because when you sell there should be a enough buyer that's vice versa for buying too, so i know so many strategies and in internet there are some 1st grade strategy, what is 1st grade grades of strategy: ( grades are not based on risk to reward because quality is important more than quantity ) 1st grades: minimum more than 90% accurate, minimum 1 risk to reward 2nd grade: more than 75% minimum 1 risk to reward 3rd grade; minimum 60% accurate minimum 1 risk to reward 4th grade: minimum 55% accurate minimum 1.05 risk to reward i use 1st grade strategy i developed step by step even if i teach you you cannot trade like me because its the personality that matches not the knowledge, you can have 1st grade accurate even if you use only support and resistance but if it not matches your personality(meaning: patience limit, psychology, emotional intelligence, you may ask that if we had that type of accuracy you can become a billionaire yes you can but accuracy is not the judge weather you can earn a billion in trading its, the plan that desides you can make billion or million, you can have 98% accuracy but you cannot make billion or million with 0.01 yes but even you throw 1000 lots you cannot because you got 2% against your winning so you can see the billionaire traders as proof in the real world that accuracy is not matters but risking plan matters what determines risk? your risk is determined by the grade you have in the market here are the risk you can keep for the grade. 1st grade=10% maximum 2nd grade= 7% maximum 3rd grade= maximum 3% 4th grade= maximum 1.5% I can give you information for free that may increase your win rate; that is what iam going to tell you today the secret of trading multi time frame is not choosing 2 time frame that you like, but instead choosing what is the pair time frame THAT WORKS!!,you can use. HERE ARE THE PAIR TIME FRAME THAT GIVES MORE WIN RATE: SCALPING; 15 MINS- 1 MINS DAY TRADING; 4H-1H-15MINS SWING TRADING; W-D-4H POSITIONAL TRADING; M-W-D (FUNDAMENTAL ANALYSIS NEEDTED ) IN NEXT POST I WILL TEACH ABOUT MIDDLE TF LEVEL OR BIG SCREEN LEVEL THAT WORKS IN THE SMALLER TIMEFRAME , THANKS FOR THE TRADINGVIEW TEAM THAT SREADING THIS INFORMATION!!
Long
by liesg
WHAT IS PAIRED TIMEFRAME AND THE SECRET BEHIND ACCURACY AND RR! sorry for late signal but it will hit it you can ask any question about it HOW TO USE MULTIPLE TIME FRAME ANALYSIS?? Iam trading for more than 10 years and i used every trading tools and strategies , example; order flow, sentiment, renko system ,point and figure and other very strong strategies but i understood this forex market is fractal(meaning what u see yesterday that repeats again and again in any time frame, so i found that multiple timeframe analysis is best, in past traders use only moving average and 1- days or 10 days closes breaks they generate bout 80% a year that time, but now brain have improved and people found so many techniques with that tools now we can generate any% of money, yes iam serious, now traders making more than banks, at the same time people losing more than bank,, but its natural because when you sell there should be a enough buyer that's vice versa for buying too, so i know so many strategies and in internet there are some 1st grade strategy, what is 1st grade grades of strategy: ( grades are not based on risk to reward because quality is important more than quantity ) 1st grades: minimum more than 90% accurate, minimum 1 risk to reward 2nd grade: more than 75% minimum 1 risk to reward 3rd grade; minimum 60% accurate minimum 1 risk to reward 4th grade: minimum 55% accurate minimum 1.05 risk to reward i use 1st grade strategy i developed step by step even if i teach you you cannot trade like me because its the personality that matches not the knowledge, you can have 1st grade accurate even if you use only support and resistance but if it not matches your personality(meaning: patience limit, psychology, emotional intelligence, you may ask that if we had that type of accuracy you can become a billionaire yes you can but accuracy is not the judge weather you can earn a billion in trading its, the plan that desides you can make billion or million, you can have 98% accuracy but you cannot make billion or million with 0.01 yes but even you throw 1000 lots you cannot because you got 2% against your winning so you can see the billionaire traders as proof in the real world that accuracy is not matters but risking plan matters what determines risk? your risk is determined by the grade you have in the market here are the risk you can keep for the grade. 1st grade=10% maximum 2nd grade= 7% maximum 3rd grade= maximum 3% 4th grade= maximum 1.5% I can give you information for free that may increase your win rate; that is what iam going to tell you today the secret of trading multi time frame is not choosing 2 time frame that you like, but instead choosing what is the pair time frame THAT WORKS!!,you can use. HERE ARE THE PAIR TIME FRAME THAT GIVES MORE WIN RATE: SCALPING; 15 MINS- 1 MINS DAY TRADING; 4H-1H-15MINS SWING TRADING; W-D-4H POSITIONAL TRADING; M-W-D (FUNDAMENTAL ANALYSIS NEEDTED ) IN NEXT POST I WILL TEACH ABOUT MIDDLE TF LEVEL OR BIG SCREEN LEVEL THAT WORKS IN THE SMALLER TIMEFRAME , THANKS FOR THE TRADINGVIEW TEAM THAT SREADING THIS INFORMATION!!
by liesg