Day trade
/
Buy
Trade view / 19 April 2018 at 6:52 GMT

USDCAD – Positive rally incomplete

Partner at 3 C ANALYSIS / 3cAnalysis
United Kingdom
Price target: 1.2698
Market price: 1.2620
Background

Yesterday's bullish bias was confirmed. Following Tuesday’s indecisive price action at oversold extremes, a more significant profit taking rally developed. The resulting improvement, the most positive of this month, took USDCAD to test the 13/100/20 day moving averages area. That area held despite solid net gains but while that does introduce a strong  note of caution, our intraday technical studies are positive.

Management and risk description

A move to 1.2646 means the stop can be raised to break even.

Parameters

Entry: Buy in 1.2615/20 area and at 1.2595

Stop: 1.2563 offered

Target: 1.2646, 1.2670 and 1.2698

Time horizon: intraday, closing 16:00 BST

Testing Average
Testing Average
 62% Correction
62% Correction
 Long Term
Long Term
All charts from CQG

— Edited by Clare MacCarthy

Non-independent investment research disclaimer applies. Read more
A compiled overview of Trade Views provided on TradingFloor.com is found here
1y
JVKNL JVKNL
R u sure?
1y
marran marran
We need 2611 to hold if this trade is to kick on don't you think Alan?
1y
TradingFan TradingFan
Hi Alan, on board!
1y
alki alki
As long as the insanity in the oil market continues, small chances of success for CAD shorts.
1y
JVKNL JVKNL
Maybe tomorrow with another trade we will be more lucky Alan
1y
AlanCollins AlanCollins
less than dynamic sadly but those who bought at 1.2595 we suggest reducing longs near 1.2615 which is abv the average generated by the call. The stop on balances into the 16.00 BST close is raised to 1.2586.
1y
IL IL
I'm in, and according to my SMA bundle, everything is as it has to be . this pair is touching its SMA200 on 1 min chart, and when the SMA slope will turn up, it will be easy to go up for the price. I think that the targets are still achievable. Just patience...
1y
Cesime Cesime
1 min chart??? gee
1y
AlanCollins AlanCollins
haha Cesime. I'm with you. Lowest I've ever looked is 15 mins and I think I must have been desperate for a confirming signal. Seriously though the trade ideas I put on here are intraday views built upon hourly charts and managed with those same hourly charts. Sounds boring I guess but its worked for me for more years than I care to remember.. Have a great evening all. Tomorrow's another day.
1y
Cesime Cesime
like me 15 is the lowest
1y
Cesime Cesime
Thanks Alan but lets hope your website is 100% a bit user unfriendly, but nothing that can not be learnt
1y
JVKNL JVKNL
We should have waited but it said intaday till 16
1y
IL IL
1 min chart is only for sharpshooters :-)

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