Forex VPS
Forex VPS
ForexFunction Logo

"Forex trading involves a high level of risk"

Forex VPS
 Forex Live Heat Map |  Market Comments |  Technical Indicator Signals |  Cross Pair Rates |  Live Spread |  Live Charts |  Daily Pivot Points

USD/CAD Chartpack - Technicals & Trade Setup | August 27, 2019

Print PDF

USD/CAD Uptrend Edgy on Tussle Between Dragonfly, Gravestone Doji , and Bearish Engulfing Patterns:

Technical Chart and Candlestick Patterns: Both  USDCAD  minor and major uptrends test trendline supports, consequently, attempt to bounce back above DMAs and EMAs.

But, there has been a display of candlesticks such as dragonfly doji , gravestone doji and bearish engulfing patterns on daily and monthly terms.

Dragonfly doji occurred at – 1.2463 (on monthly), gravestone doji at – 1.3215 (on daily) and bearish engulfing at – 1.3123 and 1.3086 levels (on monthly).

There has been the tight tussle between bulls and bears, while both leading indicators signal overbought pressures on monthly terms.

On a broader perspective, the major uptrend spikes through uptrend line (refer monthly chart), the current price hovers around 21-EMAs as both momentum & trend indicators edgy on this timeframe but still in bulls' favour on minor trend.

Hence, the prevailing uptrend is most likely to prolong further if it holds support of the uptrend line and 21-EMAs.

Trade Tips: On hedging grounds, at spot reference: 1.3204 levels, contemplating above technical factors and BoC’s monetary policy that is scheduled for next week, we advocate initiating longs in USDCAD futures contracts of next month tenors (i.e. September’19 delivery) as further upside risks are foreseen and simultaneously, shorts in futures of November’19 delivery not disregarding the CAD’s strength amid the prevailing global geopolitical risks. Thereby, one can directionally position in their FX exposures. The directional implementation of the same trading theme by further allow for a correlation-induced discount in the options trading also if you choose strikes appropriately.

Submit Your Comments:

 Forex Trading VPS


Windows 2012R2/2016 | Server Location Amsterdam, France, Canada | Low Latency From Brokers| Super Fast Trading Experience | All types of EA supported | 3 Days Money Back Guarantee

Plan NameBuy Link CPU RAM Disk BandWidth Price (Montly)Price (Quarterly)Price (Semi-Annually )Price (Annually) InstallationBackUpSetup Fee
ECO-01 buy now1 Core 756MB 18GB Unmetered $4.99/M$4.49/M$3.99/M $2.99/M MT4 Pre-InstalledYesFree
ECO-02 buy now 1 Core 1GB 22GB Unmetered $5.99/M$5.49/M$4.99/M $3.99/M MT4 Pre-InstalledYesFree
ECO-03buy now 2 Core 2GB 30GB Unmetered $9.99/M$9.49/M$8.99/M$7.99/M MT4 Pre-InstalledYesFree
ECO-04 buy now2 Core 3GB 32GB Unmetered $13.99/M$13.49/M$12.99/M $11.99/M MT4 Pre-InstalledYesFree
ECO-05buy now 3 Core 4GB 40GB Unmetered $17.99/M $17.49/M$16.99/M$15.99/MMT4 Pre-InstalledYesFree
ECO-06 buy now 3 Core 5GB 45GB Unmetered$21.99/M $21.49/M$20.99/M$19.99/MMT4 Pre-InstalledYesFree

***We accept Paypal, Perfect Money, Bitcoin !