The USDCAD analysis

Discussion in 'Technical Analysis' started by mohmed-tarek, Sep 1, 2014.

  1. mohmed-tarek

    mohmed-tarek Trader

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    The USDCAD completed a 50% retrace of its last major up move last week, ending the week by forming a bullish fakey pin bar combo buy signal that shows rejection of that 50% retrace level as well as a support level near 1.0820 area. If price holds above that 1.0820 – 1.0810 support this week, we could see a move higher from this fakey / pin bar buy signal and a resumption of the recent up trend. Traders could consider a ‘tweaked retrace entry‘ if price rotates down to about the 50% level of Friday’s pin bar.

    [​IMG]
     
  2. Dmitriy Enrst

    Dmitriy Enrst Active Trader

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    On Friday the pair closed in descending trend and it was 1.2550 level. In the end there was a slight move to resistance level 1.2585 and the pair teturned to the previous level. I expect that Monydat will start from a roll down to resistance 1.2610
    [​IMG]
     
  3. Dmitriy Enrst

    Dmitriy Enrst Active Trader

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    There was a performance of the Canada Bank on Thursday, which had an impact on the pair dynamics. The pair has settled and tested the 1.2494 level. It will be traded in the range of 1.2455 and 1.2498 some time.
    [​IMG]
     
  4. FXWatcher

    FXWatcher Trader

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    Short-term

    Strategy: Sell rallies
    Entry: 1.2665/95
    Target 1: 1.2560
    Target 2: 1.2530
    Stop: 1.2830
    Pivot: 1.2595
    S/T Outlook: sideways
    M/T Outlook: sideways

    [​IMG]

    We saw the suspected price development here. We met our corrective move targets of 1.2575/95 from mid 1.24's. The pair saw 1.2630 area tested and is now trading 1.2625. The way it formed this correction suggests that the current strength might yield directly into 1.2670/1.2700 area where we would look for price pressures to start developing.

    Medium-term

    Strategy: HOLD SHORTS TRAIL STOPS
    Entry: 1.2700
    Target 1: 1.2150
    Target 2: 1.2085
    Stop: 1.2830
    Pivot: 1.2385
    S/T Outlook: sideways
    M/T Outlook: sideways

    [​IMG]

    We reinstate our medium term outlook*....Usd/cad looks to have touched some interesting medium term levels around 1.2700. The way price has moved up seems to give some doubts over its sustainability. We would like to see a corrective move down into the above mentioned levels without making further gains above 1.2700/1.2750.
     
  5. Dmitriy Enrst

    Dmitriy Enrst Active Trader

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    This pair has a bull pressure at the week beginning. They are trying to save the lost level of 1.2385. According to my projections, they are close to the decision. If they break the 1.2370 level, the next level will be 1, .2385.
    [​IMG]
     
  6. Dmitriy Enrst

    Dmitriy Enrst Active Trader

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    There is no any changes. It has a slight growth. There is a strong upward trend, so some correction isn’t expected to appear.
    [​IMG]
     
  7. Dmitriy Enrst

    Dmitriy Enrst Active Trader

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    The currency pair USD/CAD rose from the lower border of the rising trading channel 155 points yesterday, and currently it is trading between the support level 1,3005 and the resistance levels 1,3176 and 1,3240. The indicators point to the possibility of further purchases to the resistance levels, but in the area of maximum worth to consider selling.
    [​IMG]
     
  8. Dmitriy Enrst

    Dmitriy Enrst Active Trader

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    Today the pair continued its southern trip, being traded currently at the lower border of the rising channel. If the pair hits it, you should open sales to support level 1.3158 and 1.3109, which is shown by indicators. On bounce from the border of the channel, you can buy the pair to the resistance levels 1.3233 and 1.3282.
    [​IMG]
     
  9. Jeremiah

    Jeremiah Master Trader

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    There is a bullish trend developing on usd/cad pair.
    usdcadA.jpg
     
  10. Dmitriy Enrst

    Dmitriy Enrst Active Trader

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    For the third week, the US dollar has been losing ground against the Canadian dollar from the resistance level 1.3445. Current price decline faces a strong support level 1.2830, from which the pair is likely to bounce up.
    [​IMG]
     
  11. Jeremiah

    Jeremiah Master Trader

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    I can see two scenarios here – the basic (blue) and alternative (red).
    usdcadA.jpg
     
  12. Xavefif

    Xavefif Master Trader

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    think that the price will come back to the channel than bit it to continue the trend
    [​IMG]
     
  13. lenon

    lenon Master Trader

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    I suppose that the price will turn after reaching the 1,3193 level. 2015-11-08_213054.png
     
  14. Yeah, the overall direction is clearly upward. Waiting to buy some pullbacks
     
  15. lenon

    lenon Master Trader

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    Right now, I can’t see the entrance for opening a deal on the asset, so I’ll wait until the price reaches one of the levels, and then I’ll make a decision. UASCAD.jpg
     
  16. lenon

    lenon Master Trader

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    The price went not as I expected, but nothing bad happened because the stop order had been triggered. This transaction didn’t harm me much. I think that USD/CAD asset will go down. USDCAD.jpg
     
  17. lenon

    lenon Master Trader

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    I can see two scenarios here – the basic (1) and alternative (2).
    USDCAD.jpg
     
  18. lenon

    lenon Master Trader

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    Right now, I can’t see the entrance for opening a deal on the asset, so I’ll wait until the price reaches one of the levels, and then I’ll make a decision.
    USDCAD.jpg
     
  19. Maxi89

    Maxi89 Trader

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    I thought the price would be more dynamic, but now it moves very inertly. I expected more.[​IMG]
     
  20. lenon

    lenon Master Trader

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    I think that the USD/CAD asset would renew its maximum.
    USDCAD.jpg
     

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