USDCAD remains depressed at the year-to-date levels ahead of Canada inflation and US Durable Goods Orders. It’s worth noting that the Loonie pair bears have little fundamental, as well as technical support unless witnessing a corrective bounce. That said, the oversold RSI appears the first catalyst suggesting a rebound in the pair price. With this, a one-month-old...
FX:USDCAD
As you can see that, USDCAD has created a head and shoulder and if it breaks the support neck line, gives retest then we can plan for sell side... plan your trade accordingly.....
USDCAD 4 Hour Analysis (22 June 2023)
1. Price is in one wedge
2. again, price is in bullish divergence
with AO
3. if the price breaks from down wedge
we can enter short with retest
4. else, we can go with long trades,
and the consolidation can be the TP1
Hello traders , here is the full multi time frame analysis for this pair, let me know in the comment section below if you have any questions , the entry will be taken only if all rules of the strategies will be satisfied. wait for more price action to develop before taking any position . I suggest you keep this pair on your watchlist and see if the rules of your...
Hello traders , here is the full multi time frame analysis for this pair, let me know in the comment section below if you have any questions , the entry will be taken only if all rules of the strategies will be satisfied. wait for more price action to develop before taking any position . I suggest you keep this pair on your watchlist and see if the rules of your...
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Day Trading vs. Swing Trading: An Overview
Active traders often group themselves into two camps: day traders or swing traders. Both seek to profit from short-term stock movements as opposed to holding securities for long-term growth. The primary difference in the trading strategies is that day traders trade many stocks during a day, while...
Last night, the Bank of Canada decided to raise its interest rate by 25 basis points, bringing it to 4.75%. This move came after a pause in the tightening campaign during the two previous meetings. As a result, borrowing costs reached a level not seen in 22 years. Because most of the market, approximately 60%, expected interest rates to remain unchanged, the...
USDCAD 4 Hour Analysis (8 June 2023)
1. Price formed Triple bottom chart pattern
2. Also, the price is in strong demand area
3. KL1 break indicates strong bullish
4. For backup, KL2 break and for bearish break
we have to wait for retest in KL2
USDCAD remains unimpressive after breaking a seven-week-old horizontal support zone the previous day. That said, the RSI (14) rebounds from oversold territory and hence lures the buyers. However, a clear upside break of the support-turned-resistance area surrounding 1.3410, backed by the Bank of Canada’s (BoC) hawkish tone, becomes necessary to convince buyers....
in this pair i analyse the usd cad its major trend is also high and minor trend also shifts ti up so these is the only area from where u can look for buy
USDCAD Reacts to CPI & Debt Ceiling Woes
Two big events affecting the USD/CAD pair include the CPI reading from Canada this week as well as the ongoing debt ceiling crisis in the US.
In April, the monthly Canadian headline CPI surged by 0.7%, resulting in an annual rate of 4.4% compared to the previous 4.3%. This increase exceeded the consensus estimates by...
