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USDCAD MEDIUM TERM ANALYSIS (weekly time frame): (Click and Play)
TACTICAL STRATEGY: "When there is a strong trade setup on the monthly chart, shorter time frames have to follow it, even if sometimes the price fluctuates and goes against the monthly chart trade setup on the shorter time frames". (C.R.)
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Some setup that we have done with this analysis:
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עסקה סגורה: היעד הושג
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עסקה סגורה: היעד הושג
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About USDCAD, the impact of US elections may be limited, and in the short term, USDCAD could give us some interesting trading opportunities. In this figure, we do not recommend to anticipate the market, but to wait for the swing, and follow it later. The real key events around USDCAD will be the OPEC meeting and FED decision about interest rates in scheduled in December. We'see!
Thank you for your support and rade with care!
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it will be more important follow some weekly levels for next week, this pair will be in our watchlist...
From the USDCAD / WTI correspondence, if USDCAD goes all the way to it's double top target (1.61245), then OIL could hit it's 1998 - 2000 lows (15 - 20 $?)...
Gareth_Roberts
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A lot of analysts believe the top is some where around the 1.3500 - 1.3600 area before starting a new impulse down on the Daily time frame. Only time will tell :)
TheAnonymousBanker
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Hi !, yes I agree with the medium-term resistance is around 1.35 (upper side channel), but I don't know if will be reached... only time will tell us!!! :)
EGEfx
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Hi SignalSwiss! I was focusing on this pair's possible moves...1.30515 seems an important spot to me for another up move! if it is fail to close above it,I think the current trend could continue down too 1.22185 area! thanks for sharing this enlightening chart!
TheAnonymousBanker
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Hi EGEfx! Well, in this context, involve many key points, one of them is WTI, and next week will confirm us which way we will take (... we want to be superstitious :)). At the moment we can not exclude 1.2218 level
EGEfx
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being lighlty superstitious doesn't not hurt anybody:) I think!
Victor.Y.F
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Thanks for your sharing! I think we're slowly bouncing off from here to 1.34417 and it could last 3 months even more time. Only if FRB rises rates could change the bouncing. The 2nd. time FRB rising rates would like to confirm the overheat of USdollar is starting but not the stagflation like most traders expecting.
Victor.Y.F
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Of course the long term short but the short term long is still profitable in your advices. I'm expecting oil rising and spx500 dropping for closing SPX/oil spread soon. We have DXY rising does harm to all markets now so after some carlibrating time we'll have weakening USdollar for all good.
TheAnonymousBanker
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Hi Victor!! I agree with you about the Fed and we can not exclude a bullish consolidation at the time, about usdcad. Last week, we traded a " hedging ping-pong" on USDCAD (one published in tradingview, and one reserved for our subscribers)
SETUP RESERVED (daily time frame):
SETUP PUBLISHED on TradingView (H4 time frame):
We think that will be very important to look at the movement during the Asian session on Monday ... as always !! :)