Thread: Usd/Cad
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USD/CAD analysis by using pivot indicator. (H4)
R3 1.05448
R2 1.05314
R1 1.05231
pivot 1.05096
S1 1.04962
S2 1.04879
S3 1.04744
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USD/CAD Daily Outlook
Daily Pivots: (S1) 1.0488; (P) 1.0511; (R1) 1.0524; More...
Intraday bias in USD/CAD stays neutral for the moment and some consolidations would be seen below 1.0567 temporary top. But another rally remains in favor as long as 1.0444 minor support holds. Above 1.0567 will target 1.0608 first. Break will resume larger rally from 0.9633 and target 1.0656 key resistance next. However, decisive break of 1.0444 will indicate that rebound from 1.0245 has completed and turn bias back to the downside instead.
In the bigger picture, we're preferring the case that medium term rebound from 0.9406 is resuming for 38.2% retracement of 1.3063 to 0.9406 at 1.0806. We'll continue to favor this view as long as 1.0245 support holds. Though, break of 1.0245 will argue that rise from 0.9633 has completed and the sideway pattern from 1.0656 is going to extend further with another medium term term fall.
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today i like to sell this pair @ 1.0517
my stop loss of the day @ 1.0527
half take profit for today @ 1.0508
and further half take profit @ 1.0490
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USD/CAD weaker despite US data
Decent results from the US Consumer Confidence and the S&P/Case-Shiller index failed to sustain the previous USD upside, running out of steam around 1.0540. According to G.Moore and S.Osborne, FX Strategists at TD Securities, “We retain a generally bullish bias here overall but the market seems to have stalled… The alignment of positive (for the USD) trend momentum indicators across a range of timeframes still leaves us leaning clearly bullish on the technical outlook here. But we want to see some (sustained) movement higher in the next few days to keep the move up going. We spot major daily support now at 1.0440/45. Resistance is 1.0605/10”.
USD/CAD key levels
The pair is now advancing 0.02% at 1.0503 facing the next hurdle at 1.0569 (high Aug.23) followed by 1.0574 (high Jul.9) and then 1.0586 (high Jul.8). On the flip side, a breakdown of 1.0490 (low Aug.23) would aim for 1.0471 (low Aug.22) and finally 1.0423 (MA10d).
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Usd/Cad this currency pair is undergoing correction. I see a continuation of the down trend. if you are ready to ride the waves with me , then enter from 1.0511 and exit at 1.0470. But the stop loss you have to set yourself. enjoy!
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the H1 time frame charts on currency pairs usd/cad
such as the support resistance on
R3 = 1.0456
R2 = 1.0495
R1 = 1.0472
Pivots = 1.0511
S1 = 1.0488
S2 = 1.0527
S3 = 1.0504
with today's market position is at point 1.0508
then I strongly recomended you to the open position SELL
consideration for stop loss at 1.0533 and take profit at 1.0483 Good luck all
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USD / CAD did not work the northern signal and failed to break through the upper zone of the fractal 0533, now rate again sent to the area of 0500 figures (some of which are moving alligator), the bulls have lost much strength as it does not even managed to bring the course to 0565, we continue to work out a signal to the Sale RSI, waiting for the breakdown of 0500 figures.
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In any USD / CAD could not break through the resistance level of 0536 that continues to hold back a couple of further growth, but also the course to the south is also limited by the medium-term level of 0500, so the sale will be open only after strengthening below 0500 (the goal could be to 0433 - District 200 MA), in the same shopping'll come upon a breakthrough 0540.
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My daily trading,I hope the day is a success ...
USD/CAD (Daily Trade)
Open : 1.0500
Resistance : 1.0604 1.0624 1.0654
Support : 1.0467 1.0447 1.0417
High / Low : 1.0539/ 1.0496
Range : 43 pips
Running Price : 1.0529
for intraday trade today suggest sell at the level 1.0529, stop loss at the level 1.0604, target take profit at the level 1.0417
===GOOD LUCK===
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