USD/CAD

Fk the MM! Taking out the stops for bulls n bears. They just want swallow up whole retail traders

lol. lots of casualties during news.
why cad good news result and yet move in different direction for 2 hours? then the dust settle down.
move up the time frame that you are trading in. find one comfortable to you that is set and forget.

Update after Canadian CPI and the all-important FOMC Minutes

Are you still bearish after this FOMC?

So what's your take from this?

Still cant get above mon-tue high. Seems to me uc more interesred to go dwn than up

i will be interested to see what will happen if price reaches the support zone.

I just notice uc might be doing upfib in higher time frame. R1 :1.214, R2 : 1.21950

your support line is exactly 50% of the last impulsive wave. I would expect a bounce.

Getting ready for a UC short

this is as good as it gets testing the 17may high.
3 h1 candles spikes from yesterday, must be exhausted right?

Got rejected at 1.214. Usd is like a critically ill patient on life support system, death jus a matter of time n moments away

If you guys take a look at the CAD on weekly, price action is actually pretty interesting here especially when it is overbought.

And on the daily, we do have a bullish divergence as well as yesterday being a good push up creating a nice full body too.

I won't be surprised if we keep heading up honestly, only thing that is stopping us is a good fundamental piece of news.

This currency is very stubborn. No reversal at all.

the moment is here.

So if break below is as good as usd cremated n buried?

better not to predict. just react when price is at key levels, eg. like 17may high. now watch the 18may high.

+60

I buy the UC now at price 1.2072, hope it will pass 1.2150 soon

USDCAD Daily Outlook

Ichimoku analysis (1-Hour Chart) Tenken-Sen- 1.21189 Kijun-Sen- 1.20984 USDCAD has recovered more than 100 pips from a low of 1.20130 on broad-based US dollar selling. The pair was one of the worst performers in the past six months and lost more than 9.5%. The surge in commodities such as Copper and Iron ore has increased demand for commodity currencies such as Canadian and Australian dollar. The Canadian Annual inflation came at a 3.4% vs2.2% increase in Mar, the highest level in a decade. USDCAD hits an intraday high of 1.21377 and is currently trading around 1.21348. WTI crude oil declined sharply on the increasing number of coronavirus cases in India. The short-term trend is bearish as long as resistance $68 holds. Technically, the pair faces near-term resistance at 1.2150. Any indicative break above will take till 1.21850/1.2200/1.2280. Major trend continuation only above 1.2660. The significant support is around 1.21000. Any violation below will take to the next level to 1.2045/1.2000. Indicator (1-hour chart) CAM indicator – Bullish D4irectional movement index –Bullish It is good to buy on dips around 1.2100 with SL around 1.2045 for a TP of 1.2270