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...
Overall, USD/CAD is ranging across. Recently, USD/CAD broke below the key level of 1.27.
The Canadian employment data released last Friday indicated a slowdown in jobs creation during last December while unemployment rate inched lower.
Employment Change (Actual: 54.7K, Forecast: 24.5K, Previous: 153.7K)
Unemployment Rate (Actual: 5.9%, Forecast: 6.0%, Previous:...
#USDCAD weekly bias looks bearish. The seller’s price of interests are 1.2762, 1.2792
The possible targets are 1.2644, 1.2553
These analysis are based on the current market swing and we update our views based on the upcoming future swings
Repeated failures to cross the 100-SMA dragged USDCAD traders to a decisive point with a “Head and Shoulders” bearish chart pattern luring sellers. However, a clear downside break of the neckline, around 1.2630, becomes necessary for conviction. Following that, a theoretical slump towards the 1.2300 level pops up on the chart. However, the 1.2600 round figure and...
After making low of 1.2706 USDCAD has stuck at small range, continuous selling pressure from upper side making price to form descending triangle pattern. Breakout is Below 1.2750 will take price to 1.2665 and further down. Stop loss will be above 1.2730.
