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Daily USDCAD Analysis

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  • Daily USDCAD Analysis

    USD/CAD Daily Analytics
    07:49 12.12.2017


    Recommendation:


    BUY 1.2885


    SL 1.283


    TP1 1.2985 TP2 1.313a TP3 1.325


    On the daily chart, the inability of bears to hold USD/CAD below the lower border of the uptrend channel points at sellers’ weakness. To restore the uptrend and reach 88.6% target of the “Shark” pattern, bulls need to conquer resistance at 1.2922.





    On H1, return to resistance area at 78.6% and 88.6% of the wave 4-5 of the “Widening wedge” means that bulls are in control.


    Forum Contest USD650 Total Prizes

  • #2
    USD/CAD: Murray analysis

    Current trend

    Since October on the daily chart the pair is trading above the Ultimate Resistance of Murray ([8/8]) around 1.2695, but cannot break the level of 1.2940 (Murray [+2/8]) and is trading within the horizontal channel. Now the price is trying to reverse into fall to the lover border of the range 1.2695. However, it needs to consolidate below the level of 1.2817 (Murray [+1/8]), as the price is set near it. Stochastic confirms the possibility of the decrease, entering the overbought zone, which reflects the perspective of a reversal. In addition, the price is near the temporal border, where the direction of the movement usually changes. If the price cannot break the level of 1.2817, it can grow to the levels of 1.2940 and 1.3000 (Murray [5/8] for H4).

    Support and resistance

    Resistance levels: 1.2940 ([+2/8]), 1.3000 ([5/8] for H4).
    Support levels: 1.2817 ([+1/8]), 1.2695 ([8/8]), 1.2573 ([7/8]).

    Trading tips

    Short positions can be opened at the level 1.2817 with the target at 1.2695 and stop loss at around 1.2860.
    Long positions can be opened at the level of 1.2880 with the targets at 1.2940 and 1.3000 and stop loss at 1.2840.

    Forum Contest USD650 Total Prizes

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    • #3
      USD/CAD Daily Analytics
      07:19 26.12.2017

      Recommendation:

      SELL 1.2660

      SL 1.2715

      TP1 1.2590 TP2 1.2490 TP3 1.2390

      On the daily chart, USD/CAD keeps consolidating within a short-term trend. A break of its upper border near 1.2895 will create grounds for reaching 88.6% target of the “Shark” pattern. On the other hand, a decline below support at 1.2670 will increase the risks of the medium-term downtrend’s resumption.



      On H1, USD/CAD can trigger a “Widening wedge”. To do this, bears need to settle below 1.2715 and then pull the pair below 1.2660 and 1.2625.

      Forum Contest USD650 Total Prizes

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      • #4
        USD/CAD Daily Analytics
        06:58 09.01.2018
        Recommendation:

        BUY 1.2445 SL 1.239 TP1 1.2545 TP2 1.267

        SELL 1.2375 SL 1.242 TP1 1.2275 TP2 1.21

        On the daily chart, USD/CAD bears managed to lead the pair outside of consolidation range of 1.2670-1.2895. This increases the risks of the downtrend’s resumption. In the short-term traders can use the inside bar.



        On H1, USD/CAD after playing out the “Widening wedge”. The pair formed a short-term consolidation range at 1.2375-1.2445. It would be wise to use breakout strategies.

        Forum Contest USD650 Total Prizes

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        • #5
          USD/CAD Daily Analytics
          07:15 23.01.2018
          Recommendation:

          BUY 1.251 SL 1.2455 TP1 1.264 TP2 1.28 TP3 1.2855

          SELL 1.2375 SL 1.243 TP1 1.2275 TP2 1.22 TP3 1.2125

          On the daily chart, USD/CAD keeps fighting for an important level of 1.2462. Near it the pair formed a triangle. The break of it will either allow bulls to count on the pair’s return to resistance at 1.2670 or, on the other hand, increase the risks of the bearish trend’s resumption.



          On H1, USD/CAD there is a “Spike and ledge” pattern. A successful test of the upper or lower border of the 1.2375-1.2510 consolidation range will create grounds for a “Bat” pattern or AB=CD.

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          • #6
            USD/CAD Daily Analytics
            08:09 30.01.2018
            Recommendation:

            BUY 1.2390 SL 1.2335 TP 1.2490

            SELL 1.2295 SL 1.235 TP1 1.2195 TP2 1.2095

            On the daily chart, the exit of USD/CAD outside of the triangle increases the risks of the downtrend’s resumption. The pair triggered AB=CD pattern with target at 200%. Formation of the inside bars points at the uncertainty.



            On H1, USD/CAD is consolidating in the 1.2295-1.2390 range. A break of its upper border may trigger the “Bat” pattern. On the other hand, decline below support at 1.2295 will make the pair vulnerable for a further slide.

            Forum Contest USD650 Total Prizes

            Comment


            • #7
              USD/CAD Daily analytics
              07:01 20.02.2018
              Recommendation:

              BUY 1.2645 SL 1.259 TP1 1.2745 TP2 1.2850

              SELL 1.2510 SL 1.2565 TP1 1.2410 TP2 1.2300

              On the daily chart, USD/CAD is at the crossroads. A break of resistance at 1.2645 will give bulls hope for reaching 88.6% and 161.8% of the “Shark” and AB=CD. On the other hand, decline below support at 1.2460 will increase the risk of downtrend’s resumption.



              On H1 of USD/CAD, a break above diagonal resistance near 1.2510 will allow bears to reach 88.6% target of the “Bat”.

              Forum Contest USD650 Total Prizes

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              • #8
                USD/CAD Daily Analytics
                07:39 06.03.2018
                Recommendation:

                BUY 1.2915

                SL 1.286

                TP1 1.3015 TP2 1.3110

                On the daily chart of USD/CAD, bulls managed to rise to an important level of 1.2920 and settle above it. Now they count on an advance to 127.2% target of AB=CD. At the same time, if the pair reached 113% of the “Shark”, the risks of a pullback will increase.



                On H1, there is a “Spike and reversal with acceleration” pattern. The pair reached 224% target of AB=CD. This increases the odds of correction. The trend is bullish, so it will be wise to use pullbacks for opening long positions.

                Forum Contest USD650 Total Prizes

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                • #9
                  USD/CAD Daily Analytics
                  06:56 27.03.2018
                  Recommendation:

                  SELL 1.2805

                  SL 1.286

                  TP1 1.269 TP2 1.2585 TP3 1.243

                  On the daily chart of USD/CAD, the pair pulled back after reaching 127.2% target of AB=CD. Bulls failed to keep the pair above the important area of 1.2914-1.2922. This points at their weakness. Triggering of the “Shark” pattern will increase the risks of correction towards 1.2685, 1.2580, 1.2430 and 1.2345.



                  On H1, a break of support at 1.2805 will trigger the “Shark” and AB=CD. Their targets of 113% and 224% are at 1.2585 and 1.269.

                  Forum Contest USD650 Total Prizes

                  Comment


                  • #10
                    USD/CAD: Support and resistance levels
                    04/09/2018

                    On Wednesday (14:00 GMT) the Bank of Canada decision on rates will be published. It is likely that in the face of the unresolved issue on NAFTA, the Bank of Canada is unlikely to decide to change its monetary policy. The interest rate is likely to remain at 1.50%.
                    On Tuesday, USD / CAD broke the upper limit of the downward channel on the daily chart, thus breaking the medium-term negative dynamics.
                    Indicators OsMA and Stochastics on the 4-hour, daily, weekly charts went to the side of buyers.
                    Above the short-term support level 1.3055 (EMA200 on the 4-hour chart, EMA50 on the daily chart) long positions are preferred.
                    In general, long-term upward dynamics persist, and USD / CAD is rising in the upward channel on the weekly chart, the upper limit of which is near the resistance level 1.3600 (highs of November, December 2016).
                    The support level of 1.2930 (200-period moving average on the daily chart) is the key, long-term positive dynamics remain above it.
                    Long positions are relevant.
                    The first signal for the development of an alternative scenario may be a decline to a zone below the 1.3112 mark, through which the upper limit of the descending channel on the daily chart passes. The breakdown of the support level 1.3055 will confirm this scenario.
                    However, only the breakdown of the support level 1.2625 (EMA200 on the weekly chart) will signal a final break of the bullish USD / CAD trend.
                    *)An advanced fundamental analysis is available on the Tifia Forex Broker website at tifia.com/analytics

                    Support levels: 1.3112, 1.3100, 1.3055, 1.2970, 1.2930, 1.2900
                    Resistance levels: 1.3175, 1.3200, 1.3285, 1.3380, 1.3450

                    Trading Scenarios

                    Sell Stop 1.3080. Stop-Loss 1.3160. Take-Profit 1.3055, 1.2970, 1.2930, 1.2900
                    Buy Stop 1.3160. Stop-Loss 1.3080. Take-Profit 1.3175, 1.3200, 1.3285, 1.3380, 1.3450






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