The EURCAD pair has been trading within a Channel Down for the past 15 months and right now is on a Bullish Leg towards its top. The 1D RSI is approaching the overbought barrier of 70.00 and we believe it will give a sell signal after it breaks above, just like November 21 2023 and July 14 2023. Until then, we will stay bullish, targeting the top of the 15-month...
On Friday, alongside the US PCE data release, Canada will publish its Q1 GDP growth figures. Earlier in the week, Canada will also release its producer prices data. Note that US markets will be closed on Monday for Memorial Day. According to the Royal Bank of Canada, the Canadian economy likely grew more quickly in Q1 2024 based on headline figures. However,...
USDCAD is neutral on its 1D technical outlook (RSI = 50.081, MACD = 0.001, ADX = 32.778) as it formed a Lower High yesterday and today got sold aggressively. This is a Channel Down since the April 16th High, which having broken under the 1D MA50, has confirmed the continuation of the bearish price action. We expect the 1D RSI to at least hit the 30.000 level, as...
Hello Traders ! On Wednesday 15 May, The AUDCAD reached a resistance level (0.90994 - 0.91174). The price formed a triple top pattern. At the moment, the neckline is broken. The support line is broken. So, i expect a bearish move📉 --------------- TARGET: 0.90295🎯
Hello Traders ! On The Daily Time Frame, The EURCAD Broke a Strong Resistance Level (1.47460 - 1.47800). This Key Level Becomes a New Support Level ! So, I Expect a Bullish Move 📈. ------------ TARGET: 1.49100🎯
Hello Traders ! On Wednesday 15 May, The USDCAD Reached a Strong Support Level (1.35898 - 1.36168) and Failed to Break it. The Price Formed a Double Bottom Pattern. At The Moment, The Neckline is Broken! So, I Predict a Bullish Move📈 --------------- TARGET: 1.36780🎯
EURCAD formed a nice bullish flag pattern on an hourly time frame. During the NY session, the price went up and violated a resistance line of the pattern. The market may keep growing on Monday. Goal - 1.482 ❤️Please, support my work with like, thank you!❤️
The Canadian Dollar is loosing steam, for some reason is losing value across the board. Maybe bc oil apparently has peaked and now is turning over. I opened a long position last week on NZD/CAD but I think this pair looks better, EUR/CAD looks good too, even USD/CAD. It could take a few more weeks to break out. Keep adding at every pull back. CAD is the new Yen....
Hello Traders ! The NZDCAD Price Formed a Double Bottom Pattern. The Neckline is Broken ! So, I Predict a Bullish Move 📈. -------------- TARGET: 0.83200🎯
Hello Traders As you can see the price purged the daily buy-side liquidity and then the market structure was shifted on the hourly chart. Now the price is inside a range, creating the double purge scenario for us. If the price sweeps the buy side liquidity first, it is a chance to enter the sell position with LTF confirmation. 💡Wait for the...
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After analyzing options trades on CME, we found a promising opportunity to short Canadian Dollar. The option contract is for April with an expiration date of April 5, 2024. We noticed an interesting option portfolio on March 22 that aligns with the trigger level on the futures chart (refer to chart). A trigger level is a graphical pattern on the underlying asset...
Hello Traders ! After a Huge Bullish Move, The EURCAD Reached a Strong Resistance Level (1.47460 - 1.47800) and Failed To Break it ! At The Moment, The Higher Low is Broken (Change of Character). So, I Predict a Bearish Move📉 -------------- TARGET: 1.46665🎯
Hello Traders ! On Friday 26 Avril, The CADCHF Reached a Resistance Level. The Price Formed a Triple TOP Pattern. At The Moment, The Neckline is Broken ! So, I Expect a Bearish Move 📉 __________ TARGET: 0.66026🎯
The NZDCAD pair just completed a Death Cross on the 1D time-frame, the first since June 20 2023. Even though the price rebounded inside the 1.5 years Higher Lows Zone, the prevailing pattern since December 2023 is a Channel Down. With the July 14 2023 High formed (and rejected) on the 0.786 Fibonacci retracement level, it is possible to see a rejection on the new...
The CADCHF pair Has been trading within a Channel Down pattern since January 2023 but recently it has shown growing signs that the long-term bearish trend is coming to an end. First of all, it formed the first Golden Cross on the 1D time-frame since April 01 2022. Since then, it has held the 1D MA50 (blue trend-line) and 1D MA200 (orange trend-line) as...
There is a nice scalping buying opportunity on NZDCAD. The price test a solid rising trend line on a 4H time frame. As a bullish confirmation, the price formed a double bottom pattern on 30 minutes time frame and broke its neckline. We can expect a bullish movement to 0.8147 / 0.8158 levels. ❤️Please, support my work with like, thank you!❤️
The EUR/CAD pair, since January 1st, 2023, has been traversing within a defined range, characterized by notable reversals between support and resistance levels. Recent market movements have unveiled a potential reversal pattern, signaling opportunities for astute traders. Initiating from its recent peak at 1.5050, EUR/CAD has embarked on a new trajectory, marked...