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Usdcadshort

USDCAD → Fall to 1.35200 or 1.40000!? Here's What We Know.USDCAD closed a bear candle below its bull channel support last week, leaving the bulls to wonder if this is the beginning of the end! Will the US Dollar recover and bring us back into the bull channel? How do we trade this? We closed a candle below the bull channel, it's reasonable to be biased to short in the short term. The price may want to make contact with the 200EMA at 1.35200 where it could show support and bounce to the upside. I think a short for 100 pips to 1.35200 is reasonable with a protective stop just above the bull channel support. It would be reasonable to take some or all profit just above the 200EMA, but you could hold some and see if the price falls further. Key Takeaways 1. Closed Candle out of Bull Channel, Bias to Short. 2. Look at 4HR chart for a test of Bull Channel Support. 3. After Sell Signal, Target TP at 200EMA 1.35200 4. Watch for Support at 200EMA 5. RSI at 41.00, below Moving Average, Supports Short. You are solely responsible for your trades, trade at your own risk! If you found this analysis helpful, click the Boost button and let us know what you think in the comment section below!
Short
by TraderEngineering
USDCAD - W1\D1USDCAD W1 - The price can form a 3-wave structure from a strong level, which can lead to a price drop to the level of 1.32260 to the lower border of the flat D1 - A triangular structure is formed; when it is fixed beyond the level of the triangle line, a sell entry can be considered. What can you expect? You can consider entering from the level 1.36549 (you can consider breaking the level, also wait for fixation at this level) with further movement to the target 1.34016. Cancel the idea so as not to take an increased risk on the idea 1.37815 - 1.38577 Short Targets 1.35822 - 1.34895 - 1.34016 - 1.32260
Short
by Trade_Hive_Signals
USD/CAD Drop to 1.35000? This is An Optimal Short Setup!USD/CAD is forming a Head and Shoulders reversal pattern, potentially signaling the end of this bull channel. The price action has begun to stall and oscillate around the 1.37000 level and is now falling below the 200EMA. We are now faced with a reversal signal in a bull channel. How do we trade this? The probability of profit is greater longing in a bull channel because there are more bull bars than bear bars. We are faced with a potential reversal pattern, the head and shoulders, which negates our bias to long. Should we short? If you're looking to swing trade, yes! Swing trading involves lower win rates because you're trading the reversal of a pattern. In other words, you bet against the trend, which means your probability of profit is low, but your reward is *much* higher as a result. A decent short here would have been to enter around 1.38000. Since that price is behind us, I would short here and set a protective stop loss above the right shoulder at 1.38000, take profit with half your position just below the bull channel at 1.36000, and the rest just above the 200EMA at 1.35300. Once the first take profit is hit, move your stop up to the entry price or just above it to lock in profits. Key Points 1. Bull Channel with a reversal pattern. 2. Potential Head and Shoulders Forming. 3. Gap down to 200EMA, reasonable profit target. 4. RSI has Room to Fall You are solely responsible for your trades, trade at your own risk! Let us know what you think in the comment section below!
Short
by TraderEngineering
USDCAD → Moves below 1.3700 followed by 50-day EMAThe FX:USDCAD pair experiences downward pressure following the release of weaker US inflation data on Tuesday. Moreover, the uptick in crude oil prices is likely supporting the Canadian Dollar (CAD), adding to the pressure on the USD/CAD pair. The technical indicators paint a bearish picture for the USD/CAD pair. The 14-day Relative Strength Index (RSI) below the 50 level indicates downward pressure, signaling a bearish momentum and reflecting a weaker market sentiment. Additionally, the Moving Average Convergence Divergence (MACD) line, while above the centerline, has shown a divergence below the signal line. This suggests a potential shift in momentum towards a bearish sentiment in the USD/CAD pair. The USD/CAD pair trades around 1.3690 during the early European session, after falling by almost 100 pips since the previous session. The 50-day Exponential Moving Average (EMA) at 1.3670 could act as the immediate support. A firm break below the latter could influence the USD/CAD pair to navigate the region around the psychological level at 1.3600, followed by the 38.2% Fibonacci retracement at 1.3591 level. On the upside, the major level at 1.3700 appears to be a key barrier. If there is a breakthrough above the latter, the bulls could revisit the weekly highs around the 1.3843 level.
Short
by tradingconmike
USDCAD SELL | Day Trading AnalysisHello Traders, here is the full analysis. Watch strong action at the current levels for SELL. GOOD LUCK! Great SELL opportunity USDCAD I still did my best and this is the most likely count for me at the moment. Support the idea with like and follow my profile TO SEE MORE. Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 🤝 Patience is the If You Have Any Question, Feel Free To Ask 🤗 Just follow chart with idea and analysis and when you are ready come in THE GROVE | VIP GROUP, earn more and safe, wait for the signal at the right moment and make money with us💰
Short
by TheGrove
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