USDCAD trade ideas
USDCAD daily analysis 3-2-21 ( pending further analysis )Om Namah Shivay = I (am soul) respecting Shiva (Supreme soul)
USDCAD close up look seems a WXY down. The targets are reached as it seems. But there can have some alternatives.
This is just for educational purpose. No Trading advice here.
Om Namah Shivay
💡 Don't miss the great buy opportunity in USDCADTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (1.273). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. USDCAD is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 70.
Take Profits:
TP1= @ 1.2835
TP2= @ 1.2930
TP3= @ 1.2988
TP4= @ 1.3080
TP5= @ 1.3170
SL= Break below S2
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💡 Don't miss the great buy opportunity in USDCADTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (1.2605). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. USDCAD is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 53.
Take Profits:
TP1= @ 1.2660
TP2= @ 1.2690
TP3= @ 1.2715
SL= Break below S2
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USD/CADUS dollars to Canadian dollars
As long as the sub-number is 1.2727, the trend is still selling
Our team recommends that you be patient and enter the sell trades at 1.2665 and 1.2702. It should be noted that if a 2-hour candle gives a break above 1.2727, you should leave the selling positions.
💡 Don't miss the great buy opportunity in USDCADTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (1.2745). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. USDCAD is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 55.
Take Profits:
TP1= @ 1.2800
TP2= @ 1.2835
TP3= @ 1.2875
SL= Break below S2
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USDCAD buyers attack key resistance above 1.2750While extending Friday’s corrective pullback near the lowest since April 2018, USDCAD probes one week high. However, a confluence of 200-SMA and a falling trend line from November 13, 2020, can challenge the bulls. Although MACD suggests further upside past-1.2790 resistance confluence, the 1.2800 round-figure and the monthly top near 1.2835 will add to the upside filters amid less supportive RSI conditions.
Meanwhile, 1.2730 and 1.2665 can offer immediate support during the pair’s fresh downside. However, the multi-month low flashed last week near 1.2625, followed by a descending trend line connecting lows marked since December 10, close to 1.2610, will test the USDCAD bears afterward. Overall, USDCAD remains a bearish trend but an upside clearance of 1.2800 can offer intermediate buying moves.
USDCAD good long candidate.USDCAD CMP 1.27779
Elliot wave study.
Currency is on verge to complete its impulse phase,, wave 5 of impulse phase is on verge to complete,, if corrective phase A-B-C unfolds.. good rally can be seen ,,
Double bottom formation around 1.26800 levels or support from mid line of falling channel can be seen, from where good reversal is possible..
Will wait for reversal confirmation and go long accordingly..
Good long candidate....
💡 Don't miss the great buy opportunity in USDCADTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (1.2815). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. USDCAD is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 41.
Take Profits:
TP1= @ 1.2880
TP2= @ 1.2930
TP3= @ 1.3000
SL= Break below S2
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Trade well, ❤️
ForecastCity English Support Team ❤️