Daily Analysis | USDCAD | 20 of April

Posted 20 April, 2017


                                  USD/CAD Bullish Marubozu on Daily Timeframe

The USD/CAD has formed a bullish marubozu (strong momentum candle) on daily timeframe (see the mini daily chart) which marks an uptrend. Retracement towards POC might start at the break of trendline (red). If the price gets to POC (38.2, ATR low, D L4, EMA89)  the POC zone should spike the price further up towards D H3 at 1.3513 and D H4/ATR High at 1.3540. Only above 1.3545 we could see 1.3600.

D L3 - Daily Camarilla Pivot (Daily Interim Support)
D H3 - Daily Camarilla Pivot (Daily Interim Resistance)
D H4 - Daily Camarilla Pivot (Strong Daily Resistance)
D L4 - Daily Camarilla Pivot (Very Strong Daily Support)
D L5 - Daily Camarilla Pivot (Strongest Daily Support)
W H5 - Weekly H4 Camarilla (Strongest Weekly Resistance)
POC - Point Of Confluence (The zone where we expect price to react aka entry zone)


                                                                               By Nenad Kerkez | Admiral Markets


Follow @TarantulaFX  on twitter for latest market updates

Previous forecast

02 May, 2017 11:00

← Daily Analysis from EW-Forecast | AUDUSD | 2 of May

On the 4h chart of AUDUSD we are observing a corrective pattern in the making, that can unfold as a flat correction. We know flat corrections consists out of three waves A-B-C with a formation of 3-3-5. As we can see waves A) and B) are already completed with their three wave structures so current rally can be wave C), final wave of this correction that may see limited upside around the 50.0 or 61.8 Fibonacci ratio.

Daily Analysis from EW-Forecast | AUDUSD | 2 of May

Next forecast

20 April, 2017 11:00

Daily Analysis from EW-Forecast | GBPUSD | 20 of April →

Cable is making a strong rise away from 1.2364, clearly in impulsive fashion which can see extension up to 1.300 area for wave C. In the meantime be aware of a short-term set-backs which will be fourth sub waves within uptrend. We see market in bullish mode now as long as pair trades above 1.2620.

Daily Analysis from EW-Forecast | GBPUSD | 20 of April
Write a comment
Prove you’re not a bot + 14 = 25