USD/CAD

For the USDCAD pair, the price broke above the downward trend line formed earlier on H4, reaching the previously designated buy target of 1.3714. If the price breaks above this resistance and consolidates above it, the next buy target could be the resistance level of 1.3766.

The USDCAD price continues to move upward. It is currently making another attempt to breakout of the 1.3766 resistance level. If the price successfully breaks out and consolidates above this level, the next buying target could be the 1.3815 resistance

USD/CAD :- Up-Move Rejected form resistance, Short setup

Price has taken Resistance from major falling trendline multiple times in the past. returning back to the base.
Pull back reversed and started continuing in it's move in the direction broader trend. To capture the price returning back to the lower direction. below is the short trade.

Short trade
Sell @ 1.37723
Stop Loss: 1.38338
TP1: 1.37094
TP2: 1.36363
TP3: 1.35997
Strict Risk management should be applied and Position should be sized according to individuals risk appetite.

For Educational Purposes only, Not an Investment Advice

These are the break dawn of usd cad for the week , am selling to achieve 100 pips and risk is 20 pips as you can see.

An ascending channel has formed on the USDCAD H1 chart. The price is approaching its upper boundary, which could be a potential downward reversal point. The RSI indicator is also showing divergence, which could also confirm an imminent reversal. If there's a downward rebound, the first sell target could be the support level at 1.3869.

new updates with usd cad after our SL hit yesterday.

USDCAD beginning of a bull run above 1.400?

A major bullish trendline is intact since July 2011, price has bounced back multiple times, after testing it's significance, support zone-1 is acting as a strong demand zone, form which price has shown significant bounces many times, most recent bounce-back as marked by green arrow has taken the support of the confluence of zone-1 & rising trendline as marked by green arrow.

Price has given a breakout above the Bearish trendline, that has worked as a wonderful rejection level since 1.5 years, rejections are marked by red arrows. We are now expecting a pullback that can retest the bearish trendline.
On the upside 1.3967 is an important level on the structure, breakout of which, can lead to the beginning of a new rally, supported by nice price structure.
However waiting for the breakout of 1.4, can be a good idea, as 1.4 is a strong psychological level

Our case for USDCAD case is even supported by the technical structure on DXY (Do Check out the related publications on DXY)

Any new perspective you want to add, Please feel free to mention below in the comment.

For Educational Purposes only, Not an Investment Advice.


Regards CrazyTrades247.

It can be a good pullback on play, if it could reach to that low, this can be invalidated.

Love how nobody is talking about USD/CAD is now on a historical high. RSI is above 70 for more than 2 weeks and now at 86 going into 87, showing no sign of pull back anytime soon. It's even bigger than the covid panic buy and even the 2008 krash rally up all the way to 2016. We might see it go at 90 which would be the first time in history of this pair.

Shorting this ferocious bull run since Wednesday and getting my clock cleaned. Bearish divergence on multiple time frames, but price refuses to drop. There does appear to be intraday exhaustion now, and it's due for a 100-150 pip correction early next week. Probably triggered by CPI news Monday morning. Will be holding shorts over the weekend.

Will this be a valid break to the upside?
or repeat the same pattern from last year, give a false break, and keep ranging

You know what the old saying is?

"At least 20% of breakouts work"

Trade accordingly.

Rare chart from Erebus using trading view instead of meta trader

Thanks for noticing, is that a good thing or bad?

Find more USDCAD charts here -

https://www.forexfactory.com/thread/...2#post15769042

The usual MT4, hope you like.

That's sensational upgrade from mt4 I think...but being on TV normal teir is just pain due to how slow the chart moves but I don't have problem with it but If someone like those tiny movements in the chart like tick by tick then Meta trader is the GOAT...

watching 1.4180 & 60 to add more longs

still bullish
scalping 10 pips of profit till 1.4230

TP @ 1.4283

blindly guessing a pullback at these historical highs is just adding fuel to the fire. rather than trying to time the top, i'd rather wait for a proper breakout and structure confirmation; honestly, at this stage, the retail "short bias" is usually just the rocket fuel for the next leg up