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Thread: USD/CAD (part 30)

     
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    2020-11-24   10:19
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    In the Asian session, the USD/CAD pair edged lower as the Canadian dollar strengthened against its American counterpart. The pair returned to yesterdays lows and is moving downwards on negative US dollar dynamics. The greenback is again losing ground against the basket of major currencies.
    Attachment 302388
    Besides, the Canadian dollar gets support from the positive sentiment in the energy market. Oil is getting better and the prices are rising on optimism over the coronavirus vaccine.
    In the first half of the day, I expect the pair to go through a moderate upward correction. However, the downtrend is likely to prevail. The pair is currently trading in the bear market.
    A possible pivot point is seen at 1.3085, and Im going to sell below this mark with the targets at 1.3005 and 1.2975.
    Alternatively, the pair may start to rise until it breaks above the 1.3085 level and settles there. Then, it may test the levels of 1.3105 and 1.3125.

    The attachment
    2020-11-25   10:04
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    On the 1 time frame, the USD/CAD pair is trading in the bear market. The 120 moving average confirms short positions as it is holding above the price level. The Zig Zag indicator also shows a descending pattern since both the low and high are moving lower.
    In the day trade, I would consider selling the pair from the 1.3020 level with the first target at 1.2980 and the second one at 1.2940. The Stop Loss should be placed at 1.3050. You can start buying the pair after the price breaks through and settles above the level of 1.3080. In this case, Take Profit should be set at 1.3120, while Stop Loss - at 1.3050.
    The M15 time frame is good to define the points where the pair will breakthrough and settle firmly. It also shows the entry points a bit earlier than the H1 time frame.

    The attachment
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    Hello! For the USDCAD pair, it went down from our trade zone and seemed to be going to protest this November reversal level of its lows. For the meantime, the price shows a slight increase and most likely nothing special will happen until the last session on the pair. But in the evenings, the states give us a lot of important economic news that can play out both for the strengthening of the dollar and for its weakening. We are waiting until evening on the fence.

    4.jpg

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    The pair is currently trading above the opening of the day which is at 1.2995. My analysis for today is that, if the price manages to reach above the level of 1.3025, then the pair will most likely move upward with the target at the level of 1.3055. If this level is broken, the upward trend may continue with the next target of 1.3100. On the other hand, if the price trades below the level of 1.2980, then a downward trend is possible with the target at the level of 1.2965. A breakdown of this level may force further decline to the level of 1.2935.

    At the moment, the pair is trading near the daily pivot level and below the trend line. So far the indicators on the H1 chart suggest a possible upward trend. This, I will only look forward to if the price starts to trade above the level of 1.3025. If not, then I expect a downward pullback.

    O25.png

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    On the 1 time frame, the USD/CAD pair is trading in the bear market. The 120 moving average confirms short positions as it is holding above the price level. The Zig Zag indicator also shows a descending pattern since both the low and high are moving lower.

    In the day trade, I would consider selling the pair from the 1.3020 level with the first target at 1.2980 and the second one at 1.2940. The Stop Loss should be placed at 1.3050. You can start buying the pair after the price breaks through and settles above the level of 1.3080. In this case, Take Profit should be set at 1.3120, while Stop Loss - at 1.3050.

    The M15 time frame is good to define the points where the pair will breakthrough and settle firmly. It also shows the entry points a bit earlier than the H1 time frame.

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    Greetings, everyone!

    For the Canadian currency today, everything remains as it was yesterday - rising oil and a weakening dollar are doing their job. I am not expecting a northern movement, but below the support of 1.2990, sellers can easily gain a foothold and then open the way to the level of 1.2845. But until Monday, we can blab about the current levels.

    2020-11-26 FP3.png

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    The pair is currently trading near the opening of the day which is at 1.3000. My analysis for today is that, if the price manages to reach above the level of 1.3020, then the pair will most likely move upward with the target at the level of 1.3030. If this level is broken, the upward trend may continue with the next target of 1.3087. On the other hand, if the price trades below the level of 1.2985, then a downward trend is possible with the target at the level of 1.2970. A breakdown of this level may force further decline to the level of 1.2940.

    At the moment, the pair is trading near the daily pivot level and the trend line. So far the indicators on the H1 chart suggest a possible downward trend. This, I will only look forward to if the price starts to trade below the level of 1.2985. If not, then I expect an upward pullback.

    O26.png

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    Hello, good morning everyone! Here are USD/CAD positions for November 27, 2020.

    Daily chart:
    For long-term positions, buy from the level of 1.3645 or higher price levels, or sell from the level of 1.2927 or lower price levels.
    r1.gif

    Four-hour chart (H4 chart):
    Since there are many entry and exit levels here, setup buy transactions from the level of 1.3199 to higher price levels, or setup sell transactions from the level of 1.2927 to lower price levels.
    r2.gif

    Hourly chart (H1 chart):
    Deals in this time frame are quick, ergo, open buy positions when the quote reaches the level of 1.3111, and take profit at any higher price levels. Meanwhile, sell positions when the quote reaches the level of 1.2986, and take profit at any lower price levels.
    r3.gif
    But, keep in mind to transact only at the close of the hourly candle. Then, afterwards, exit at take profit or stop loss levels. Because if not, expenses will increase while profit will decrease.

    For longs: SL - 1.3011 TP - 1.3411
    For shorts: SL - 1.3086 TP - 1.2686

    I used technical analysis to locate these good entry and exit levels in the market.
    Good luck!

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    Hello dear traders!
    For the USD/CAD currency pair, I am considering buying with the target of 1.3062. I expect strengthening from the current levels or after a decline to the area of 1.3000. This scenario will be cancelled if the pair consolidates below 1.2980 level. If this happens, I will consider selling with the target of 1.2939.

    3.jpg

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    The pair is currently trading below the opening of the day which is at 1.3020. My analysis for today is that, if the price manages to reach above the level of 1.3030, then the pair will most likely move upward with the target at the level of 1.3050. If this level is broken, the upward trend may continue with the next target of 1.3087. On the other hand, if the price trades below the level of 1.3000, then a downward trend is possible with the target at the level of 1.2990. A breakdown of this level may force further decline to the level of 1.2980.

    At the moment, the pair is trading near the daily pivot level and below the trend line. So far the indicators on the H1 chart suggest a possible downward trend. This, I will only look forward to if the price starts to trade below the level of 1.3000. If not, then I expect an upward pullback.

    O27.png

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    Hi!

    At the moment, I dont see any clear signal to sell but I still expect the price to resume the downtrend.

    1.png

    On the daily chart, we can see that the price moves slowly to the upside without any momentum. This means that correction is likely to start but it may soon be interrupted by the main trend.

    Here is my forecast. Yesterday, on the daily chart, the USD/CAD pair tested the local level of support at 1.29928 from top to bottom. Then the price reversed and started to move to the upside, thus forming a small bullish candlestick which was located within yesterdays daily range.

    Today, I dont take any actions on the pair and expect the price to continue the downtrend after a clear reversal signal is formed. After the price settles below the above-mentioned level of support at 1.29928, I will expect it to move lower to the next support at 1.29270.

    At this level, two scenarios are possible. Under the first scenario, the price will break below this level and settle firmly there. In case this is true, the price is set to move further downwards. The next downward target in this case will be the local level of support at 1.27810. If the price forms a reversal candlestick at the 1.29270 level, then an upward correctional movement to the nearest resistance level is also possible. From there, another reversal candlestick may be formed so that the price will again move to the downside.

    Though trading on financial markets entails high risk, still it can generate extra income on condition that you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


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