USDCAD trade ideas
Usd/cad Technical AnalysisIt has formed a higher high lower low pattern in the wedges. overall the trend is in up trend and if it breaks the neck line it may enter into a new longer down trend but most probably it will rebound from its small support.
USDCAD Short entry seems goodUCAD Short entry could be a good option in the long run as the corona virus fear strikes the market.
The stock markey has already fallen .....and this time forex could be the next target.
USDCAD Intraday ForecastAs we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.327.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=1.331.
TP4: R2=1.333.
Set the stoploss of these orders at breakout of S2=1.326.
Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of S2=1.326.
In this situation, there is an expectation to reach the target S3=1.3195.
Set the stoploss of reverse orders at breakout of S1=1.327.
If you would like to trade in the next 24 hours , the intraday forecasts of ForecastCity will show you the most accurate and the most likely actions and swings of the market. Our intraday forecasts are available before those of all the other sites. Our intraday forecasts are available very early in the day. It is one of ForecastCity’s glorious and positive qualities. This quality has made us the first forecaster that forecast tomorrow for you!
USD/CAD- SELLA Weekly resistance has been reached and the the Weekly Downtrend channel is meeting also in the point, so a very strong sell position been made in here. As per my analysis it is a sell for me, any suggestion on this is welcome.
RISING TOWARDS RESISTANCE ZONEUSDCAD:- PRICE ACTION RISING TOWARDS THE RESISTANCE ZONE ON D1 TIME FRAME. SELL@1.3305 SL@1.340 TP.290
USDCAD Intraday ForecastAs we forecast Yükseliş trend for this day, so Forecast City suggests buy (limit) above S1=1.3105.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=1.3155.
TP4: R2=1.318.
Set the stoploss of these orders at breakout of S2=1.3095.
Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of S2=1.3095.
In this situation, there is an expectation to reach the target S3=1.303.
Set the stoploss of reverse orders at breakout of S1=1.3105.
If you would like to trade in the next 24 hours , the intraday forecasts of ForecastCity will show you the most accurate and the most likely actions and swings of the market. Our intraday forecasts are available before those of all the other sites. Our intraday forecasts are available very early in the day. It is one of ForecastCity’s glorious and positive qualities. This quality has made us the first forecaster that forecast tomorrow for you!
Don't miss the great sell opportunity in USDCADTrading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (1.3065). 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 downtrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 27.
Take Profits:
TP1= @ 1.2950
TP2= @ 1.2793
TP3= @ 1.2543
SL= Break below S2
