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I have this one on my watch list also, lets see what happens at that level.
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I'm already long and am looking at this area for how I'll move forward...first trade I've had to manage in a while
Myself watching as well.. I will wait for it to see if it hits support around 1.0588 and go from there. Will it break or rebound??
I work on the theory that price needs to battle it out at major support/resistance points, the bigger the S/R point longer term, the more of a battle will take place..I was able to close the trade before it actually got to 1.0588...i posted the trade here
https://www.aussiestockforums.com/forums/showthread.php?t=28611
The USD/CAD confirmed a very strong closing even well above the 200 days line, now support at 1,0894. Possible further strength toward the 1,10 level! The indicators of the daily chart are already above the line as well as those of the 4h one supporting further strength. The indicators of the hourly chart turned instead below the line after having formed bearish divergences on the way. We have however also a potential negative reversal situation that is limiting the upside. While above 1,0908, the 200 hours line, the pair is supported suggesting a retest of the 1,10 area. We wait for a possible correction to try again a long position!
USD/CAD had an ascending trend without a noticeable reformation during the recent days that shows buyer certainty in reaching to the predetermined targets. The price could record the top price of 1.12231 in 4H time frame which is fixed by descending candle.Currently in monthly, weekly and daily time frames price is above 5-day moving average that warns about the potential of ascending of price during long period of time.
As it is obvious in the picture below, between the bottom price of 1.08106 and top price of 1.12231, there is an AB=CD harmonic pattern with non-ideal ratios of 76.4 and 161.8 which warns about descending of the price from the D point(Shooting Star Pattern) of this pattern.As it is obvious in the picture bellow, according to the formed movements, the price is in divergence mode with RSI indicator and confirms the mentioned top price is 4H time frame which generally warns the possibility of changing price direction.Currently the first sign for buyers is breaking of the D point of harmonic pattern in the price chart.
Technical Analysis of USD/CAD dated 2014.10.01
As it is obvious in the picture below, between the bottom price of 1.08106 and top price of 1.12231, there is an AB=CD harmonic pattern with non-ideal ratios of 76.4 and 161.8 which warns about descending of the price from the D point(Shooting Star Pattern) of this pattern.As it is obvious in the picture bellow, according to the formed movements, the price is in divergence mode with RSI indicator and confirms the mentioned top price is 4H time frame which generally warns the possibility of changing price direction.Currently the first sign for buyers is breaking of the D point of harmonic pattern in the price chart.
Technical Analysis of USD/CAD dated 2014.10.01
USD/CAD had an ascending trend without a noticeable reformation during the recent days that shows buyer certainty in reaching to the predetermined targets. The price could record the top price of 1.12231 in 4H time frame which is fixed by descending candle.Currently in monthly, weekly and daily time frames price is above 5-day moving average that warns about the potential of ascending of price during long period of time.
As it is obvious in the picture below, between the bottom price of 1.08106 and top price of 1.12231, there is an AB=CD harmonic pattern with non-ideal ratios of 76.4 and 161.8 which warns about descending of the price from the D point(Shooting Star Pattern) of this pattern.As it is obvious in the picture bellow, according to the formed movements, the price is in divergence mode with RSI indicator and confirms the mentioned top price is 4H time frame which generally warns the possibility of changing price direction.Currently the first sign for buyers is breaking of the D point of harmonic pattern in the price chart.
Technical Analysis of USD/CAD dated 2014.10.01
As it is obvious in the picture below, between the bottom price of 1.08106 and top price of 1.12231, there is an AB=CD harmonic pattern with non-ideal ratios of 76.4 and 161.8 which warns about descending of the price from the D point(Shooting Star Pattern) of this pattern.As it is obvious in the picture bellow, according to the formed movements, the price is in divergence mode with RSI indicator and confirms the mentioned top price is 4H time frame which generally warns the possibility of changing price direction.Currently the first sign for buyers is breaking of the D point of harmonic pattern in the price chart.
Technical Analysis of USD/CAD dated 2014.10.01
USD/CAD in recent weeks has a strong ascending trend that shows the serious buyers in reaching to their target prices. The price during this ascending trend could record the top price of 1.12699 that is the most important resistance level in front of price.As it is obvious in the picture below, the price has been stopped by reaching to the resistance line(red line) and is not able to ascend more which is a warning for buyers about changing price direction.
According to the formed movements in the chart, between the bottom price of 1.08101 and the top price of 1.12699, there us AB=CD harmonic pattern with the ratios of 61.8 to 161.8 that warns the price descends from the D point of this pattern.Stoch indicator is in saturation buy area follows the top price of 1.12699 and warns the possibility of descending during the next days.(In the H4 time frame). According to this point, this currency pair has experienced the strong ascending trend in the past and also mentioned signs until this top price is preserved, there is the potential for price decrease and reformation in this currency pair.
According to the formed movements in the chart, between the bottom price of 1.08101 and the top price of 1.12699, there us AB=CD harmonic pattern with the ratios of 61.8 to 161.8 that warns the price descends from the D point of this pattern.Stoch indicator is in saturation buy area follows the top price of 1.12699 and warns the possibility of descending during the next days.(In the H4 time frame). According to this point, this currency pair has experienced the strong ascending trend in the past and also mentioned signs until this top price is preserved, there is the potential for price decrease and reformation in this currency pair.
USD/CAD from 2014.07.04 (formation of ascending trend third point) is in a strong and by reformation ascending trend that could experience a good price growth.Right now this currency pair could record the top price of 1.13851 during its ascending trend that according to the formation of recent candles, it is an ideal top price for descending .In weekly time frame the price has been stopped by touching the resistance level (1.12797) and the buyers could not reach to the higher prices.
Between 15th and 17th days according to the shape of candles in daily time frame, there is Shooting Star , Hanging man pattern that warns about descending of the price in this price range.(shows cashing of the buyers trades and the potential for formation of a top price)As it is obvious in the picture below, between the bottom price of 1.06207 and top price of 1.13851 , there is AB=CD harmonic pattern with ideal ratios of 50 and 200 that with completion of the D point , there is a warning for stopping of uptrend and changing price direction. Generally according to the current situation of price, until the top price of 1.13851 in daily time frame is preserved, price will have the potential for descending and reformation in ascending trend.
Between 15th and 17th days according to the shape of candles in daily time frame, there is Shooting Star , Hanging man pattern that warns about descending of the price in this price range.(shows cashing of the buyers trades and the potential for formation of a top price)As it is obvious in the picture below, between the bottom price of 1.06207 and top price of 1.13851 , there is AB=CD harmonic pattern with ideal ratios of 50 and 200 that with completion of the D point , there is a warning for stopping of uptrend and changing price direction. Generally according to the current situation of price, until the top price of 1.13851 in daily time frame is preserved, price will have the potential for descending and reformation in ascending trend.
FXTechstrategy
FX Technical Research Analysts
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Daily Technical Strategist On USDCAD
USDCAD: Declines, Eyes Further Downside.
USDCAD: With USDCAD declining strongly on Tuesday and following through lower on during Wednesday trading session, further weakness is envisaged. On the downside, support lies at the 1.1100 level followed by the 1.1050 level where a reversal of roles as support is envisaged. Further out, resistance resides at the 1.1000 level and then the 1.0950 level. On the upside, resistance is seen at the 1.1250 level followed by the 1.1300 level. Further out, resistance comes in at the 1.1350 level where a turn lower may occur. But if further recovery is triggered resistance comes in at the 1.1400 level. All in all, USDCAD continues to face corrective threats
USDCAD: Declines, Eyes Further Downside.
USDCAD: With USDCAD declining strongly on Tuesday and following through lower on during Wednesday trading session, further weakness is envisaged. On the downside, support lies at the 1.1100 level followed by the 1.1050 level where a reversal of roles as support is envisaged. Further out, resistance resides at the 1.1000 level and then the 1.0950 level. On the upside, resistance is seen at the 1.1250 level followed by the 1.1300 level. Further out, resistance comes in at the 1.1350 level where a turn lower may occur. But if further recovery is triggered resistance comes in at the 1.1400 level. All in all, USDCAD continues to face corrective threats
USD/CAD had an ascending trend without a noticeable reformation during the recent weeks that shows buyer certainty in reaching to the predetermined targets. The price could record the top price of 1.13871 in weekly time frame which is fixed by descending candle. Currently in some time frames such as monthly, H4 price is under 5-day moving average (a consistent downtrend) and there is not any clear reason about ascending of price in these time frames.
As it is obvious in the picture bellow, according to the formed movements, the price is in divergence mode with Stoch indicator and confirms the mentioned top price is weekly time frame which generally warns the possibility of changing price direction.As it is obvious in the picture below, between the bottom price of 1.06102 and the top price of 1.13871, there is an ideal AB=CD harmonic pattern with the ratios of 50 and 200 that warns about the potential for a price downfall from the D point.Generally according to the formed signs in the price chart until the resistance level of 1.13871 is preserved , price has the potential for reformation in this currency pair.
As it is obvious in the picture bellow, according to the formed movements, the price is in divergence mode with Stoch indicator and confirms the mentioned top price is weekly time frame which generally warns the possibility of changing price direction.As it is obvious in the picture below, between the bottom price of 1.06102 and the top price of 1.13871, there is an ideal AB=CD harmonic pattern with the ratios of 50 and 200 that warns about the potential for a price downfall from the D point.Generally according to the formed signs in the price chart until the resistance level of 1.13871 is preserved , price has the potential for reformation in this currency pair.
Technical analysis of USD/CAD dated 2015.01.06
USD/CAD was in a strong and consistent uptrend during the recent weeks that buyers were successful in achieving the highest price of 1.18355.Price by reaching to the round resistance level of 1.18000 and the resistance edge of up channel has stopped from more ascend that shows buyers used this price level to exit their trades.There are Shooting Star candlestick pattern and also Harami Pattern in top price of 1.18355 that warns the potential for formation of a successful top price and Vulnerability of ascending trend for buyers.With close of the next bearish candle, this signal will be fix.
As it is obvious in the picture below, there is AB=CD harmonic pattern with ratios of 61.8 and 161.8 between the bottom price of 1.01841 and the top price of 1.18355 that warns changing price direction from D point.RSI indicator in Daily time frame is in saturation buy area and warns about descending of price according to the next cycle during the next days.(and confirms the harmonic D point)Generally until the Top price of 1.18355 is preserved, there is the possibility of decrease and descend of price in this currency pair.
USD/CAD was in a strong and consistent uptrend during the recent weeks that buyers were successful in achieving the highest price of 1.18355.Price by reaching to the round resistance level of 1.18000 and the resistance edge of up channel has stopped from more ascend that shows buyers used this price level to exit their trades.There are Shooting Star candlestick pattern and also Harami Pattern in top price of 1.18355 that warns the potential for formation of a successful top price and Vulnerability of ascending trend for buyers.With close of the next bearish candle, this signal will be fix.
As it is obvious in the picture below, there is AB=CD harmonic pattern with ratios of 61.8 and 161.8 between the bottom price of 1.01841 and the top price of 1.18355 that warns changing price direction from D point.RSI indicator in Daily time frame is in saturation buy area and warns about descending of price according to the next cycle during the next days.(and confirms the harmonic D point)Generally until the Top price of 1.18355 is preserved, there is the possibility of decrease and descend of price in this currency pair.
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USD/CAD
JUST TRADED USD/CAD SHORT 5.25 pm...12/01/2015 ...ON FRIDAY BROUGHT EUR/USD AND GBP/USD TO GO LONG...USD/JPY TO GO SHORT...so far USD/JPY UP 40 pips...EUR up 26 pips...GBP up 14 pips...CAD up 5 pips...Don't know how long I'm going to make a profit for but time will till...Don't understand support and resistance...channels...Andrew pitchforks...Fabonacci...etc...so have deposited $1000.00 into account and will see how we go
JUST TRADED USD/CAD SHORT 5.25 pm...12/01/2015 ...ON FRIDAY BROUGHT EUR/USD AND GBP/USD TO GO LONG...USD/JPY TO GO SHORT...so far USD/JPY UP 40 pips...EUR up 26 pips...GBP up 14 pips...CAD up 5 pips...Don't know how long I'm going to make a profit for but time will till...Don't understand support and resistance...channels...Andrew pitchforks...Fabonacci...etc...so have deposited $1000.00 into account and will see how we go
USD/CAD was in a strong and consistent Uptrend during the recent months that Buyers were successful in obtaining the highest price of 1.27981.price with reaching to the important round level of 1.28000 has stopped from more ascend( Buyers used this level to exit their trades) and with formation of a top price in weekly time frame has prepared a field for descending of price.
According to the formation types of price movements on the chart, there is a descending Bat harmonic pattern and by completion of the D point of this pattern, there will be a warning for descending and changing price direction.Generally according to the current situation, until the top price of 1.27981 is preserved, there is the potential for ascending of price and reformation of ascending trend.RSI indicator in weekly time frame is in saturation Buy area and warns the possibility of stopping of the ascending trend by the next cycle.
According to the formation types of price movements on the chart, there is a descending Bat harmonic pattern and by completion of the D point of this pattern, there will be a warning for descending and changing price direction.Generally according to the current situation, until the top price of 1.27981 is preserved, there is the potential for ascending of price and reformation of ascending trend.RSI indicator in weekly time frame is in saturation Buy area and warns the possibility of stopping of the ascending trend by the next cycle.
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usdcad price technical analysis
the pic still positive but you should expect to see some more correction on the pair
Break of 1.3000 level support last week was taken as a sign of trend reversal. That's supported by strong resistance from a long term retracement level at 1.3460. below 1.2930 area the trend remains on the downside, further fall should be seen to 1.2830 area, Break of 1.2830 will lead to 1.2740 from there it can continue to 38.2% retracement at 1.2630,strong support stay at 1.2450 area
In the bigger picture,1.1960 support. That is 38.2% retracement of 0.9633 to 1.3456
Break up again 1.3469 would Give approval for more upside like 1.43 area and even to 1.60 area in medium to long term.
the pic still positive but you should expect to see some more correction on the pair
Break of 1.3000 level support last week was taken as a sign of trend reversal. That's supported by strong resistance from a long term retracement level at 1.3460. below 1.2930 area the trend remains on the downside, further fall should be seen to 1.2830 area, Break of 1.2830 will lead to 1.2740 from there it can continue to 38.2% retracement at 1.2630,strong support stay at 1.2450 area
In the bigger picture,1.1960 support. That is 38.2% retracement of 0.9633 to 1.3456
Break up again 1.3469 would Give approval for more upside like 1.43 area and even to 1.60 area in medium to long term.
Trading View Today: The USDCAD formed a negative outside day yesterday with 1,3295 – 1,3075 the levels to follow in the coming hours. While above the 55 days line at 1,3174 on a daily closing we expect further strength toward our m/t target!
The indicators of the daily chart are still well positive for now supporting further strength but those of the s/t charts are showing a mixed picture this morning suggesting further consolidation/ correction.
Market had already a retest of the 200 hours line, now at 1,3112, forming a potential positive reversal situation. I prefer however avoiding a new long position for now, instead I even take a short one with a stop at 1,3255!!
The indicators of the daily chart are still well positive for now supporting further strength but those of the s/t charts are showing a mixed picture this morning suggesting further consolidation/ correction.
Market had already a retest of the 200 hours line, now at 1,3112, forming a potential positive reversal situation. I prefer however avoiding a new long position for now, instead I even take a short one with a stop at 1,3255!!
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what will be the next move on Usd cad
You'll note on the outline that the estimated level held as backing at the major 2008-2009 highs in the usd/cad and again in mid-2015 appear again.
Since late January, the coin pair has slid in a precarious downtrend from its long haul highs close to 1.4700.
Taking after the July break up underneath this level, the usd cad tried the level in October. The previous decade-long backing surely demonstrated to now be resistance as the usd cad fizzled definitely at the breakdown level. As said, the cash continued to drop a further 12% drop in January. After 3 months, it has now mobilized back to the area break up range once more. Will this level serve as support. While the way that level has served as a 10-year turn point is unquestionably the best motivation to anticipate that the level will go about as resistance, it isn't the main reason. We would anticipate that this zone will give, at any rate, beginning, staunch resistance for the Canadian Dollar. Assuming this is the case, it might be characteristic of a more extensive hindrance in the worldwide "reflation" exchange that remaining parts essentially presently. On the off chance that the Canadian Dollar comes up short conclusively at this level, and other related resources go with the same pattern, usd cad might secure the post-January bounce
From technical side on usd cad let's look at the charts:
On all my usd cad posts I was talked on the long term moves and try to Draw conclusions for the future on this pair ,my assumption that now if 1.2760 area will not hold we are going to see more deep moves to 1.2480-1.2530 area and from those level we can get bonce to 1.33 area
You'll note on the outline that the estimated level held as backing at the major 2008-2009 highs in the usd/cad and again in mid-2015 appear again.
Since late January, the coin pair has slid in a precarious downtrend from its long haul highs close to 1.4700.
Taking after the July break up underneath this level, the usd cad tried the level in October. The previous decade-long backing surely demonstrated to now be resistance as the usd cad fizzled definitely at the breakdown level. As said, the cash continued to drop a further 12% drop in January. After 3 months, it has now mobilized back to the area break up range once more. Will this level serve as support. While the way that level has served as a 10-year turn point is unquestionably the best motivation to anticipate that the level will go about as resistance, it isn't the main reason. We would anticipate that this zone will give, at any rate, beginning, staunch resistance for the Canadian Dollar. Assuming this is the case, it might be characteristic of a more extensive hindrance in the worldwide "reflation" exchange that remaining parts essentially presently. On the off chance that the Canadian Dollar comes up short conclusively at this level, and other related resources go with the same pattern, usd cad might secure the post-January bounce
From technical side on usd cad let's look at the charts:
On all my usd cad posts I was talked on the long term moves and try to Draw conclusions for the future on this pair ,my assumption that now if 1.2760 area will not hold we are going to see more deep moves to 1.2480-1.2530 area and from those level we can get bonce to 1.33 area
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My FX accounts didn't match my spreadsheets as there was a pending buy stop taken while I was out (tennis).
USDCAD: 4H trend trade (trend is up). There is an impulsive move up and a shallow pull-back (<50%). A buy stop was placed the buy at 1.2693, iSL at 1.2667 (26p). The target placed earlier was the 127% fib level (1.2738). This was higher than T1.5 and coincided with the prior high. Price went higher thanks to Powell but that doesn't matter. The setup was taken with no thoughts of Powell's testimony, but it was in the same direction as the UJ 4H trend. That's not a coincidence. I look at other related markets for confirmation of trend.
USDCAD: 4H trend trade (trend is up). There is an impulsive move up and a shallow pull-back (<50%). A buy stop was placed the buy at 1.2693, iSL at 1.2667 (26p). The target placed earlier was the 127% fib level (1.2738). This was higher than T1.5 and coincided with the prior high. Price went higher thanks to Powell but that doesn't matter. The setup was taken with no thoughts of Powell's testimony, but it was in the same direction as the UJ 4H trend. That's not a coincidence. I look at other related markets for confirmation of trend.
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