Jump to content

USDCAD holds onto the Ending Wedge


PIA_First_IC

Recommended Posts

No full trigger as yet but signs that USDCAD may turn bullish. We have FOMC tonight so a high risk trade but high returns:

 

  1. 78.6% pullback at 1.2245
  2. Ending wedge formation. Measured move target is 1.2590
  3. Long-term bespoke support at 1.2287

usdcad daily.png

In regards to the PIA analysis, no representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result.

Link to comment
Guest oilfxpro

All you need is simple analysis like this  and fundamental dollar strength drivers.Dollar is strong against  jpy , aud  , nzd, cable   but euro is also strong due to improved fundamentals.

 

https://community.ig.com/t5/Foreign-Exchange-FX/USD-CAD-long-term-supports/m-p/20158#M2584

 

https://www.ig.com/uk/marketanalysis/ig-forex/aud-usd

 

https://www.ig.com/uk/marketanalysis/ig-forex/usd-cad

 

The USDCAD is now a trade  because dollar is bullish , there are big bullish candles showing bullish reversal on usd, this is mainly due to fundamentals.

Link to comment
Guest oilfxpro

This is short term intraday thinking , but a medium signal would  go for running profits, especially as fed expect to raise further and major long term supports .

Link to comment

Archived

This topic is now archived and is closed to further replies.

  • General Statistics

    • Total Topics
      22,086
    • Total Posts
      92,935
    • Total Members
      42,475
    • Most Online
      7,522
      10/06/21 10:53

    Newest Member
    IPS Temp Admin
    Joined 06/10/22 15:40
  • Posts

    • Commodity Markets: Forex, Bonds, US Gold, Silver, Iron Ore,Copper Lithium,Nickel, Crude Oil, Natural Gas. Elliott Wave   Commodities Market Summary: The USD DXY USDJPY are heading higher into Wave iii) and iv) corrections so are the FX pairs and so are GDX and US Spot Gold. So, there are no larger trends, just corrections.   Trading Strategies: No strategies as markets are in small corrective patterns.   Video Chapters 00:00 US Gov Bonds 10 Yr Yields 00:44 US Dollar Index DXY USDJPY, EURUSD, AUDUSD 05:50 US Spot Gold / GDX ETF 08:41 US Spot Silver 11:20 US Copper / Lithium / Nickel / Iron Ore 19:01 Crude Oil 21:21 Natural Gas 27:11 End   Analyst Peter Mathers TradingLounge™ Australian Financial Services Licence - AFSL 317817   Source: tradinglounge com Access Trial here... buy 1 month Get 3 months              
    • Hi @AndaIG, Please could the [LOUP] Innovator Deepwater Frontier Tech ETF be listed and made available for the ISA tax wrapper, pretty please? Many thanks, Sam
    • Look ahead to 31/5/23: China PMI; France GDP; Germany CPI Economic data is key on Wednesday. It starts in Japan with retail sales, followed by Chinese PMI.  Jeremy Naylor | Analyst, London | Publication date: Tuesday 30 May 2023  IGTV’s Jeremy Naylor looks at the chances that the Chinese yuan will weaken further as it becomes more and more obvious that the recovery in China is further away than initially expected. Then in the eurozone we’re looking at the CAC 40 and DAX as growth and inflation data is released. The only corporate on the schedule is from stationers, WH Smith.          
×
×
  • Create New...