Overall, USD/CAD is ranging across. Recently, USD/CAD broke above the key level of 1.27.
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.
Just identify big candle move in ur chart which is strong enough so this is kind of move is made by
Big player , draw the zone using open and close of basing candle and wait for price to retrace and show
The price rejection
The price rejection because bank deploy their limit orders
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Hello ,
In this chart , You can see that support level is broken and its going to retest and also there is one down trendline which almost nearest to that price.
So i am predicting that price will respect this trendline and also respect to key level. So it will must be go down.
Thanks
Overall, USD/CAD is trending downwards.
The Canadian retail sales data will be released later at 2130 (GMT+8).
Core Retail Sales m/m (Forecast: 1.1%, Previous: 1.3%)
Retail Sales m/m (Forecast: 1.2%, Previous: 1.6%)
Currently, USD/CAD is testing to break above the key level of 1.25. Its next support zone is at 1.24500 and its next resistance zone is at...
uc seems bearish its currently channel dxy seems bearish and even institusions seems bearish on usd so i think gona break channel so i will enter in retest
#USDCAD weekly bias looks bullish. The buyer’s price of interests are 1.2468
The possible targets are 1.2610, 1.2640
These analysis are based on the current market swing and we update our views based on the upcoming future swings
Although USDCAD buyers keep lurking around an upward sloping trend line from June, failures to stay decisively above the 200-DMA keep sellers hopeful of breaking the 1.2450 support. Adding to the bearish bias are the downbeat MACD and RSI conditions. That said, 61.8% Fibonacci retracement (Fibo.) of June-December 2021 advances, near 1.2370, is likely next support...
#USDCAD weekly bias looks bearish. The seller’s price of interests are 1.2640, 1.2676
The possible targets are 1.2468, 1.2407
These analysis are based on the current market swing and we update our views based on the upcoming future swings
Learn how price action works and trade can be carried out with the help of candelsticks/area of interest/chart patterns/fibonacci/trendline/supply and demand zone.
Hello traders , USDCAD in daily timeframe ,This analysis is prepared in daily timeframe but has been published for better view in 2 days timeframe.
In the count that was done, the main waves 1, 2 and 3 have formed a leading downward trend and now the 4 main waves are forming.
Wave 4 is formed in a zigzag pattern and from this zigzag the sub-waves a and b are...
