the H4 20 SMA at 1.3285 seems to have a hard time to act as resistance for the time being, we could very well see a rise to the 1.3320 zone before the market resumes its bearish tendancy..
keep in mind 1.3315 is the 38% retracement form this last bearish leg and as always, good luck to all
keep in mind 1.3315 is the 38% retracement form this last bearish leg and as always, good luck to all
patience & discipline lead to wisdom ... & profits ! ;)
The pair rebounded from 1.3200 after forming a pin bar on the H4 time frame. I think it will rally back to 1.3300 as part of the correction above the support at 1.3160 - 1.3200.
Oil will need a push before USDCAD can stay below 1.32. US production can be interesting this week.
I opened a long position at 1.3230. For the moment my target is at 1.3300, depending on how it develops there I may keep it open.
I closed my long position once the pairing reached 1.3300, I think it is forming a consolidation channel between 1.3180 and 1.3300.
nice trade djanas, indeed it is consolidating, but I see a possible move to the 1.3335 zone in the near future.. after a decent retracement around the 1.3270 area..
patience & discipline lead to wisdom ... & profits ! ;)
USD/CAD fell to 1.3246 after a rally to 1.3350. The pair remains bearish and I think it will reach 1.3200 soon.
Jun 25 2017 at 07:58
I'm long at 1.3267 on Friday. Stop loss at 1.3192. Take profit at 1.3365.
Jun 25 2017 at 10:14
Currently out of the trend channel, staying away from this pair for now.
Positivity
Correction movement continues, CAD remain under pressure. Support level can be found around 1.3160.
USD/CAD rebounded from 1.3210 but so far remains very range-bound. I think I will refrain from opening new positions for the moment.
I think that the current drop is just the beginning of the move to the downside and its closest target is around 1.3030 - 1.3000.
Poloz could definitly give it a push with a repetition of a hawkish stance, but oil remains a heavy longterm influencer.
pure technical ABCD on daily chart shoots the pair around 1.2980..
good luck to all
good luck to all
patience & discipline lead to wisdom ... & profits ! ;)
Jun 28 2017 at 16:19
USD/CAD broke the support at 1.31. Next level would be 1.2915.
Positivity
Weak US dollar and the recovery in oil prices, another bad week to come for the pair. The pair has already broke below critical support 1.3000, further delcine could be triggered easily.
Jul 08 2017 at 16:03
I was expecting that the 1.30 level would hold. More potential to the downside imo.
Positivity
arigoldman posted:
I was expecting that the 1.30 level would hold. More potential to the downside imo.
The pair broke 1.29 level, I'm expecting some correction movement before further downside.
I think so too. It rebounded from 1.2860 and considering how oversold it is it could rally to 1.2980.
Jul 10 2017 at 17:28
Expecting the move to the downside to end soon. The US dollar appears to be gaining momentum.
Positivity
