Get started

CAD

NZDCAD: Policy Divergence Favoring the KiwiHello Traders, In today's trading session, we are keeping a close watch on NZDCAD for a promising buying opportunity around the 0.83900 level. After experiencing a prolonged downtrend, NZDCAD has successfully broken out and is currently in a correction phase. This correction is bringing the pair closer to a critical support and resistance zone at 0.83900, making it a prime area for potential buy entries. The ongoing policy divergence between the Reserve Bank of New Zealand (RBNZ) and the Bank of Canada (BoC) adds an extra layer of favorability for the NZD over the CAD. The RBNZ's more accommodative stance compared to the BoC's policies provides a supportive backdrop for the NZD, further bolstering the case for a buying opportunity at this level. Trade safely, Joe
Long
by JoeChampion
3
Heading into 50% Fibonacci resistance?GBP/CAD is rising towards a resistance level which is a pullback resistance which aligns with the 50% Fibonacci retracement and could reverse from this level to our take profit. Entry: 1.75140 Why we like it: There is a pullback resistance level which lines up with the 50% Fibonacci retracement. Stop loss: 1.75979 Why we like it: There is a pullback resistance level. Take profit: 1.73398 Why we like it: There is a pullback support level. Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Short
by VantageMarkets
Could the Loonie rise from here?Price is currently on a support level which is an overlap support an could potentially rise from this level to our take profit. Entry: 1.3699 Why we like it: There is an overlap support level. Stop loss: 1.3665 Why we like it: There is a pullback support level which aligns with the 100% Fibonacci projection. Take profit: 1.3764 Why we like it: There is a pullback resistance level. Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Long
by VantageMarkets
Why have CAD short positions hit record high? Net short position in the Canadian dollar is at their largest since data collection began in 1986. As of June 11, non-commercial accounts increased their net short positions in the Canadian dollar to 129,493 contracts, up from 91,639 the previous week, data from LSEG and the U.S. Commodity Futures Trading Commission showed The Bank of Canada (BoC) become the first G7 central bank to start cutting interest rate this month. The central bank’s members deliberated postponing the rate cut until July but ultimately opted for an early reduction of 25 basis points (bps), according to the bank's meeting minutes. In April, Canada’s inflation rate reached 2.7%. The BoC will have two more inflation reports before its next scheduled interest rate decision on July 24, with the first report due next Tuesday. For the exact date and time, import the BlackBull Markets Economic Calendar to receive alerts directly in your email inbox. Market expectations suggest a further 57 bps of rate cuts by year-end, contingent on inflation forecasts holding correct. Traders are also closely monitoring the housing market's response to lower interest rates and evaluating the economic impact of rapid population growth, which surpassed 41 million as of April 1, according to Statistics Canada. The country’s population is growing by approximately 80,000 people per month.
by BlackBull_Markets
Buy GBP/CAD Double BottomThe GBP/CAD pair on the M30 timeframe presents a Potential Buying Opportunity due to a recent breakout from a Double Bottom Pattern. This suggests a shift in momentum towards the upside and a higher likelihood of further advances in the coming hours. Possible Long Trade: Entry: Consider Entering A Long Position Above The Broken Trendline Of The Double Bottom After Confirmation. Ideally, This Would Be Around 1.7433. Target Levels: 1st Resistance – 1.7520 2nd Resistance – 1.7573 Stop-Loss: To manage risk, place a stop-loss order below 1.7395. This helps limit potential losses if the price falls back unexpectedly. Thank you.
Long
by KABHI_TA_TRADING
9
USDCAD Signals: Bullish Breakout Above 1.3000USDCAD – technical overview Above 1.3000 signals an end to a period of longer-term bearish consolidation and suggests the market is in the process of carving out a more significant longer-term base. Next key resistance now comes in up into the 1.4000 area. Setbacks should be very well supported down into the 1.3000 area. R2 1.3847 – 16 April/2024 high – Strong R1 1.3792 – 11 June high – Medium S1 1.3662 – 7 June low – Medium S2 1.3586 – 10 May low – Strong USDCAD – fundamental overview The Canadian Dollar is coming out of a rare session in which it outperformed its peer group. Canada housing data was behind the relative strength after May housing starts accelerated at the fastest pace since September 2023. Key standouts on Tuesday’s calendar come from Eurozone and German sentiment reads, Eurozone CPI, US retail sales, US industrial production, and Fed speak. Exclusive FX research from LMAX Group Market Strategist, Joel Kruger
by BlackBull_Markets
Bullish bounce?The Loonie (USD/CAD) is falling towards the pivot and could bounce to the pullback resistance. Pivot: 1.3701 1st Support: 1.3662 1st Resistance: 1.3765 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Long
by ICmarkets
NZD/CAD: Capitalizing on RBNZ Stability and BoC DovishnessHello Traders, In the coming week, we are closely monitoring NZD/CAD for a potential buying opportunity around the 0.84090 zone. NZD/CAD is currently trading in an uptrend and is undergoing a correction phase, bringing it closer to the key support and resistance area at 0.84090. This level has historically served as a significant pivot point for price action, making it an attractive entry point for long positions. From a fundamental perspective, the Reserve Bank of New Zealand (RBNZ) is maintaining a steady stance and is not looking to cut rates anytime soon. In contrast, the Bank of Canada (BoC) seems to be on pace to cut rates, given the easing inflationary pressures in Canada. This divergence in monetary policy favors the NZD over the CAD, adding strength to our bullish outlook on NZD/CAD. Additionally, the overall bullish sentiment in the stock market could further benefit NZD/CAD due to the positive correlation between risk-on environments and NZD strength. This confluence of technical and fundamental factors makes the 0.84090 zone a strategic area to look for buying opportunities in NZD/CAD. Trade safely, Joe
Short
by JoeChampion
11
Heading into 50% Fibonacci resistance?GBP/CAD is rising towards a resistance level which is an overlap resistance which aligns with the 50% Fibonacci retracement and could reverse from this level to our take profit. Entry: 1.75140 Why we like it: There is an overlap resistance level which lines up with the 50% Fibonacci retracement. Stop loss: 1.75979 Why we like it: There is a pullback resistance level. Take profit: 1.73398 Why we like it: There is a pullback support level. Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Short
by VantageMarkets
Bearish drop?USD/CAD is rising towards a resistance level which is a pullback resistance and could potentially reverse to our take profit. Entry: 1.3781 Why we like it: There is a pullback resistance level. Stop loss: 1.3828 Why we like it: There is a pullback resistance level which aligns with the 78.6% Fibonacci projection. Take profit: 1.3684 Why we like it: There is a pullback support level. Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Short
by VantageMarkets
Heading into pullback resistance, could it reverse from here?The Loonie (USD/CAD) is rising towards the pivot which acts as a pullback resistance and could reverse to the 1st support. Pivot: 1.3780 1st Support: 1.3684 1st Resistance: 1.3830 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Short
by ICmarkets
USDCAD to continue in the upward move?USDCAD - 24h expiry The current move higher is expected to continue. Risk/Reward would be poor to call a buy from current levels. Short term RSI is moving higher. A move through 1.3750 will confirm the bullish momentum. The measured move target is 1.3780. We look to Buy at 1.3725 (stop at 1.3700) Our profit targets will be 1.3790 and 1.3810 Resistance: 1.3750 / 1.3775 / 1.3780 Support: 1.3725 / 1.3700 / 1.3675 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
Long
by OANDA
Bearish reversal off 50% Fibonacci resistance?The Loonie (USD/CAD) is rising towards the pivot and could potentially reverse to the pullback support. Pivot: 1.3735 1st Support: 1.3664 1st Resistance: 1.3781 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Short
by ICmarkets
Sell USDCAD Breakout PatternThe USD/CAD pair on the M30 timeframe presents a potential selling opportunity due to a recent downward breakout from a well-defined Channel pattern. This suggests a shift in momentum towards the downside in the coming Hours. Key Points: Sell Entry: Consider entering a short position around the current price of 1.3750, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum. Target Levels: 1st Support – 1.3708 2nd Support – 1.3670 Stop-Loss: To manage risk, place a stop-loss order above 1.3800. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards. Thank you.
Short
by KABHI_TA_TRADING
17
USD/CAD Faces Resistance at 1.3780, Potential Reversal in SightThe USD/CAD pair has reached the 1.3780 area of resistance, signaling a potential reversal. This comes in the wake of a robust Nonfarm Payrolls (NFP) report for May, which dispelled fears of a weakening labor market. The report indicated strong labor demand across all sectors and higher-than-expected wage growth. Market Dynamics 1. Strong NFP Report: The latest NFP data highlighted a resilient labor market, easing concerns about a slowdown. This strength in the labor market has influenced market expectations regarding the Federal Reserve's monetary policy. 2. Fed Rate Cut Expectations: Investors now anticipate that the Fed will cut interest rates once this year, likely in November or December. This outlook is shaping the market's response to recent economic data. Upcoming Economic Indicators To gain more insights into the Fed’s potential actions, investors are keenly awaiting the US Consumer Price Index (CPI) data for May and the Fed’s upcoming monetary policy announcement, both scheduled for Wednesday. These events are expected to provide further clarity on the interest rate outlook. Technical Analysis From a technical perspective, the USD/CAD pair is approaching a significant resistance level at 1.3780. The price action suggests a potential reversal as it encounters this resistance.n. in conclusion the USD/CAD pair is at a critical juncture, facing resistance at the 1.3780 level. The strong NFP report for May has bolstered the USD, but upcoming CPI data and the Fed’s monetary policy announcement will be crucial in determining the next move. From a technical standpoint, signs are pointing towards a potential reversal at this resistance level. Investors and traders should remain vigilant and look for clear reversal signals before making trading decisions.
Short
by FOREXN1
1
USD/CAD: Capitalizing on Soft CPI and Dovish Fed ExpectationsHello Traders, In today's trading session, we are closely monitoring USD/CAD for a potential selling opportunity around the 1.37200 zone. Recently, USD/CAD was trading in an uptrend but successfully broke out of this trend. Currently, it is in a correction phase and is approaching the key retrace area at the 1.37200 support and resistance zone. This level is crucial as it has historically served as a significant pivot point for price action. From a fundamental perspective, today's CPI data came in softer than expected, with a year-over-year increase of 3.3%, compared to the anticipated 3.4%. This lower-than-expected inflation reading suggests that inflationary pressures are not as strong as the market had anticipated. The softer CPI data has important implications for the Federal Reserve's policy stance. A lower inflation rate reduces the urgency for the Fed to tighten monetary policy aggressively. As a result, the likelihood of the Fed adopting a more dovish stance increases, which could involve maintaining or even easing current monetary policies. This dovish outlook would likely weaken the US dollar, creating a favorable environment for USD/CAD shorts. Additionally, this evening we have the FOMC meeting, where further insights into the Fed's monetary policy direction will be provided. The combination of today's soft CPI data and the FOMC's potential dovish tone strengthens the case for a bearish outlook on the US dollar. Given these fundamental factors, the 1.37200 zone becomes an attractive area to look for short positions in USD/CAD. A weaker dollar, driven by dovish Fed expectations, should support further downside for USD/CAD, making this level a strategic entry point for selling opportunities. Trade safely, Joe
Short
by JoeChampion
USD/CAD Edges Lower as Traders Eye Key US Economic DataUSD/CAD is trending lower during the Asian session on Wednesday, currently trading around 1.3750. This recent movement follows a notable reversal from the 1.3790 area, where technical indicators suggested a potential change in direction. Technical Analysis From a technical standpoint, the USD/CAD pair exhibited signs of overbought conditions around the 1.3790 mark, as indicated by the Relative Strength Index (RSI) on the H4 timeframe. A divergence was observed, signaling that the bullish momentum was weakening and a reversal was likely. The pair has since edged lower, reflecting these technical signals. Market Sentiment and Economic Data The market is now focused on upcoming US economic data releases, which are anticipated to inject significant volatility into the trading environment. The key events include the release of the Core Consumer Price Index (CPI) and the Federal Open Market Committee (FOMC) decision. Core CPI Data The Core CPI data, set to be released today, is a critical measure of inflation that excludes food and energy prices. This indicator is closely watched by traders and investors as it provides insights into underlying inflationary pressures within the US economy. Stronger-than-expected CPI figures could reinforce expectations of a hawkish stance from the Federal Reserve, potentially supporting the US Dollar and influencing the USD/CAD pair. FOMC Decision In addition to the inflation data, the FOMC decision is another pivotal event for the day. The Federal Reserve's policy statement and subsequent press conference will offer guidance on the central bank's outlook and future monetary policy actions. Market participants will be keenly observing any hints regarding the timing and extent of interest rate adjustments. The FOMC's tone and projections will be crucial in determining the next directional move for the USD/CAD pair. Anticipated Volatility Given the significance of these economic events, traders are preparing for heightened volatility. The Core CPI and FOMC decision are expected to provide the necessary catalyst for a potential continuation of the reversal observed in the USD/CAD pair. Depending on the outcomes, we could see significant movements as traders react to the data and adjust their positions accordingly. in conclusion USD/CAD is currently consolidating its recent losses around 1.3750, following a technical reversal from the 1.3790 area. The pair's future direction will likely be influenced by today's Core CPI release and the FOMC decision. Traders should be prepared for increased volatility and potential continuation of the bearish trend, especially if the economic data aligns with the technical indicators pointing towards a reversal.
Short
by FOREXN1
1
Sell GBPCAD Channel BreakoutThe GBP/CAD pair on the M30 timeframe presents a potential selling opportunity due to a recent downward breakout from a well-defined Channel pattern. This suggests a shift in momentum towards the downside in the coming Hours. Key Points: Sell Entry: Consider entering a short position around the current price of 1.7518, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum. Target Levels: 1st Support – 1.7464 2nd Support – 1.7430 Stop-Loss: To manage risk, place a stop-loss order above 1.7565. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards. Thank you.
Short
by KABHI_TA_TRADING
3
Falling towards 50% Fibonacci support?The Loonie (USD/CAD) is falling towards the pivot and could potentially bounce to the pullback resistance level. Pivot: 1.3735 1st Support: 1.3698 1st Resistance: 1.3780 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Long
by ICmarkets