Attachments: USD/CAD

USD/CAD

Post #16,981
Quote
Nov 4, 2022 2:22am Nov 4, 2022 2:22am

PinkuBD
| Commercial Member | Joined Nov 2022 | 278 Posts

Bullish volume in the USD is still very high

After the mixed FOMC price bounced above the pattern and it keep
pushing stronger today.

The bulls are not giving up at all on the USD and the confidence
that Powell showed about slowing down inflation was a bit overrated,
However, this is the market.

On the other side, the U.S economy is still very strong.

Targets:

1.37934

1.38414

1.39215

Thank you and Good Luck!

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FTMO 200K Challenge (Passed) All Time Return: 10.3%

Post #16,982
Quote
Nov 7, 2022 9:03am Nov 7, 2022 9:03am

AndAnd
| Joined Oct 2021 | Status: Member | 105 Posts

USDCAD shows descending movement. I suppose the price will fall to the level of 1.34130. Then there may be a reversal.

Post #16,983
Quote
Nov 7, 2022 9:58am Nov 7, 2022 9:58am

forexer
Joined Jan 2006 | Status: FX TRADER | 861 Posts

Hello traders,

It seems USDCAD found a strong support so tested it twice made a good tweezer which encouraged me to go a head and buy it as i think it's going up according to my own analysis .

I hope it works out , let's see how that plays out.

Thanks

I always knew that someday I would make it big

Post #16,984
Quote
Nov 8, 2022 2:28am Nov 8, 2022 2:28am

YellowFellow
| Commercial Member | Joined Aug 2015 | 579 Posts | Online Now

Quoting forexer

Disliked

Hello traders, It seems USDCAD found a strong support so tested it twice made a good tweezer which encouraged me to go a head and buy it as i think it's going up according to my own analysis . I hope it works out , let's see how that plays out. Thanks

Ignored

I agree with you mate, I went long too.

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Post #16,985
Quote
Nov 9, 2022 11:45am Nov 9, 2022 11:45am

DragonT
| Joined Feb 2021 | Status: Member | 150 Posts

USDCAD trying to break through the support level for further growth. If it succeeds to break through at the level of 1.34880, I expect the buy movement further.

Post #16,986
Quote
Nov 10, 2022 8:49am Nov 10, 2022 8:49am

Mpfreefx
| Joined Jun 2019 | Status: Member | 124 Posts

trade i took around 6am

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"TIME AND PRICE IS ALL THERE IS"

Post #16,987
Quote
Nov 10, 2022 2:05pm Nov 10, 2022 2:05pm

jayfxtrader
| Joined Nov 2022 | Status: Member | 5 Posts

Surprised that really not many interested in CAD around here, am I missing the real discussion of CAD direction/ideas somewhere else?

Post #16,988
Quote
Nov 10, 2022 5:03pm Nov 10, 2022 5:03pm

Erebus
Joined Jul 2011 | Status: Member | 7,284 Posts

Quoting jayfxtrader

Disliked

Surprised that really not many interested in CAD around here, am I missing the real discussion of CAD direction/ideas somewhere else?

Ignored

It can be a slow pair, but you never know, it can surprise

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Don't believe everything that you THINK

BuyDips,SellRips Return This Week: 3.3%

Post #16,989
Quote
Nov 11, 2022 4:44pm Nov 11, 2022 4:44pm

Mpfreefx
| Joined Jun 2019 | Status: Member | 124 Posts

trade i took around 5am

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"TIME AND PRICE IS ALL THERE IS"

Post #16,990
Quote
Nov 13, 2022 5:59pm Nov 13, 2022 5:59pm

MrAnonymous
Joined Mar 2016 | Status: Member | 82 Posts

Next week should be bullish, after price touched 1.31.

CAD's PMI data show that the economy is shrinking giving no room for inflation. Also, PMI data predict GDP data and knowing that there will be less inflation, we are in the red quadrant. Weakness in CAD, overall long USD/CAD.

USD/CAD's 10Y interest rate differential affect currencies enormously and is bullish which is why that high volume area is bullish and price is likely to rise after it touched 1.31 and made a higher low.

It fits perfectly well into the narrative to go long USDCAD on Friday's CPI data.

Buy stop can be set at 1.32371, 20 pips above the bullish high volume zone. Just my two cents.

Anyone else long?

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Post #16,991
Quote
Nov 13, 2022 8:05pm Nov 13, 2022 8:05pm

Erebus
Joined Jul 2011 | Status: Member | 7,284 Posts

Quoting MrAnonymous

Disliked

Next week should be bullish, after price touched 1.31. CAD's PMI data show that the economy is shrinking giving no room for inflation. Also, PMI data predict GDP data and knowing that there will be less inflation, we are in the red quadrant. Weakness in CAD, overall long USD/CAD. USD/CAD's 10Y interest rate differential affect currencies enormously and is bullish which is why that high volume area is bullish and price is likely to rise after it touched 1.31 and made a higher low. It fits perfectly well into the narrative to go long USDCAD on Friday's...

Ignored

I'm not grasping all the fundamentals you are presenting; can you expand and share more on your thread catching monster waves?

However, I reckon that is a big call in the face of the technical analysis pointing to lower USDCAD.

I applaud the advice for using a buy top level rather than market entry like some contrarian traders.

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Don't believe everything that you THINK

BuyDips,SellRips Return This Week: 3.3%

Post #16,992
Quote
Nov 14, 2022 10:30am Nov 14, 2022 10:30am

AndAnd
| Joined Oct 2021 | Status: Member | 105 Posts

The Canadian dollar continues to fall further. I assume that the fall will continue to the level of 1.32170. And if usdcad breaks this level, I expect a further drop.

Post #16,993
Quote
Nov 22, 2022 10:31am Nov 22, 2022 10:31am

DragonT
| Joined Feb 2021 | Status: Member | 150 Posts

I see a bearish trend. But again, if USDCAD breaks through the resistance level of 1.34780, we can say that the situation is changing and a bullish trend is starting.

Post #16,994
Quote
Nov 22, 2022 3:55pm Nov 22, 2022 3:55pm

Erebus
Joined Jul 2011 | Status: Member | 7,284 Posts

Quoting DragonT

Disliked

I see a bearish trend. But again, if USDCAD breaks through the resistance level of 1.34780, we can say that the situation is changing and a bullish trend is starting.

Ignored

I'm sticking with the big picture, and today's red candle helps

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Don't believe everything that you THINK

BuyDips,SellRips Return This Week: 3.3%

Post #16,995
Quote
Nov 27, 2022 9:43am Nov 27, 2022 9:43am

AndAnd
| Joined Oct 2021 | Status: Member | 105 Posts

I see bearish movement still. And the gap after weekend will be less. I'd say the falling on the Monday will be around the level of 1.33200.

Post #16,996
Quote
Dec 1, 2022 8:25am Dec 1, 2022 8:25am

DragonT
| Joined Feb 2021 | Status: Member | 150 Posts

Yesterday was a great fall of CAD. But then there was a rollback. I assume that USDCAD will return to its previous level. However, it is still a bearish trend.