Tag Archives: CAD

USD/CAD Hidden Bullish Divergence At L5 Pivot

Nenad Kerkez

The USD/CAD has broken through 1.2900 as predicted on a previous Session Recap webinar straight to the target. At this point we can see a hidden bullish divergence at L5 camarilla pivot point that could give us a retracement for next short opportunity. There are 2 scenarios. First scenario is trend move. If the price proceeds to POC 1.2925-40 (bearish order block, L3,divergence trend line), it could reverse to 1.2820 and 1.2764. POC is also protected by 38.2 and EMA89 just above it. Second scenario is H1 momentum or 4h close below L5 weekly camarilla – 1.2815. In that case traders should look for 1.2764 target. more…

USD/CAD Keeps Selling On Rallies In A Strong Zig Zag

Nenad Kerkez

The USD/CAD has been in a strong downtrend after a break of a trend line (blue) indicated by a failed W bullish pattern in uptrend (green rectangle). At this point we see a strong bearish zig zag targeting sub 1.2800 levels, if the pair proceeds with downtrend. Retracement to POC targets 1.2910-25 zone (61.8, historical sellers, H4 cam DPP, EMA89). If we don’t see a pullback towards POC then we will need watch for h1 momentum or 4h close below L3 – 1.2850 that could tank the pair down to 1.2788. Below 1.2788, the pair is targeting 1.2722. more…

USD/CAD Make It Or Break It

Nenad Kerkez

The USD/CAD has dropped from important historical resistance and it was shown live on a previous Session Recap webinar. Currently the price is at important support and it will be either make it or break it for the pair. 1.2980-95 is POC zone (L3, EMA89, 61.8, trend line) and it making an X Cross with ascending intra week trend line (blue). If we see a rejection from POC and 4h close above 1.3010, the targets will be 1.3030, 1.3060 and 1.3100. However if the price drops below 1.2975 it should target 1.2946, 1.2920 and 1.2880. Pay attention to price flow and eventual bounce or break below POC zone. more…

USDCAD Symmetrical Triangle Downside Break

Nenad Kerkez

The USDCAD continued to drop after a bearish breakout of the bottom triangle trend line and its exposed to more downside risks. On April 17 the meeting of OPEC and Russia will be held to confirm oil production cut backs. So far they have agreed to cut backs as they control 75% of world oil supply. Generally that is good for oil and oil price could keep climbing. Remember CAD is positively correlated to OIL, so OIL up CAD up too, and that means USDCAD down. more…

USDCAD : Correction Within Bullish Impulse

Gregor Horvat

USDCAD turned sharply lower last week and closed at the low on Friday, which suggests that pair is already turning down into a new corrective set-back. We are tracking wave 4-circled that can retrace even back to 1.3800-1.4000 area before uptrend may resume for a final leg within a bullish cycle. For now, invalidation level remains at 1.3456; so as long it will hold trend is actually up, but we would have no problem turning immediately bearish if overlap occurs. more…

USDCAD Can Still Be In A Corrective Phase

Gregor Horvat

USDCAD is turning sharply down from recent highs, which could be start of a new bearish cycle. However, we will always try to label the count so that we will stay with a trend. As such, we adjusted the labeling to a flat in wave 4) which can still drop nearly 300 pips before market can be looking for a support. At the moment we are tracking sub-wave C to 1.2950. Ideally more…

Volatile Day For Crude And Canadian Dollar

Fawad Razaqzada

Crude oil and crude-related assets like the Canadian dollar have had a volatile session Thursday. Oil prices were initially higher and were on course to finish in the black for the third consecutive session. Sentiment in the oil market was improved on increased geopolitical risks arising from Russia’s military intervention in Syria and worries about supply outages in the US due to the developing Hurricane Joaquin. In addition, risk sentiment had improved more…