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Canadiandollar

USDCAD Channel Down aiming for the 1D MA200.The USDCAD pair has been trading within a Channel Down and is currently around the 1D MA50 (blue trend-line) following its latest Lower High formation. If the current Bearish Leg is as strong as the previous one, we can expect the price to hit at least the 1D MA200 (orange trend-line) at 1.4000. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Short
by TradingShot
USD/CAD - Harmonic Patterns and Momentum IndicatorsTechnical Analysis of USD/CAD - Harmonic Patterns and Momentum Indicators Overview: The USD/CAD chart illustrates price action on the hourly timeframe, incorporating harmonic patterns, Fibonacci retracements, and momentum indicators to identify potential reversal and continuation points. The presence of a Crab harmonic pattern suggests a critical turning point, while momentum oscillators provide additional confirmation. **Harmonic Pattern Analysis:** 1. A **Crab harmonic pattern** is evident, with the price reaching the terminal point at approximately **1.44627**. 2. The **XA and BC Fibonacci extensions** align with key retracement levels, reinforcing the likelihood of a reversal at this zone. 3. The price has **rejected the high point**, indicating potential exhaustion of bullish momentum. **Support and Resistance Levels:** - **HOP (Harmonic Optimal Point):** **1.44627** - The potential completion zone of the Crab pattern. - **XA Retracement:** **1.43968** - A key structural support level. - **BC Level:** **1.43721** - A secondary support level for price continuation. - **T2 (Target 2):** **1.42596** - A potential downside target if bearish momentum continues. **Momentum Indicators:** - **Stochastic RSI & Relative Strength Index (RSI):** - The **Stochastic RSI** shows a recent overbought condition, followed by a decline, indicating potential bearish momentum. - The **RSI also exhibits bearish divergence**, where price made a higher high while RSI formed a lower high, suggesting weakening bullish strength. **Market Sentiment & Potential Trade Opportunities:** - Given the rejection at **1.44627**, a **short position** could be considered if confirmation of further downside emerges. - A break below **1.43968** could reinforce the bearish bias, with **1.42596** as a potential target. - However, if the price finds support and rebounds, a bullish continuation could be anticipated, requiring further validation. **Conclusion:** The **Crab harmonic pattern, overbought momentum indicators, and Fibonacci confluence suggest a possible bearish reversal**. Traders should monitor **key support levels and momentum shifts** to determine whether the bearish scenario plays out or if buyers regain control. Risk management and confirmation signals are crucial before entering a trade.
Short
by BeaucoupPips
USD/CAD Market Analysis: Potential Reversal from Resistance ZoneThe USD/CAD pair on the 15-minute timeframe is showing signs of a potential bearish reversal. The price has been in an uptrend, forming higher highs and higher lows while respecting a diagonal support trendline. However, it has now approached a key resistance zone around 1.43575, as marked by the M15 supply area. The current price action suggests a rejection from this resistance, with wicks indicating selling pressure. If the price breaks below the ascending trendline, a further decline towards the 1.42794 support level is likely. The risk-to-reward setup favours short positions if confirmation of a bearish structure shift occurs. Traders should monitor price action closely for a trendline break or a strong bearish engulfing candle to confirm the sell-off.
Short
by BeaucoupPips
GBPCAD INTRADAY uptrend continuation supported at 1.8100The GBPCAD price action sentiment appears bullish, supported by the longer-term prevailing uptrend. The recent intraday price action appears to be a sideways consolidation towards the rising support trendline zone. The key trading level is at 1.8100 level, the consolidation price range zone. A corrective pullback from the current levels and a bullish bounce back from the 1.8100 level could target the upside resistance at 1.8165 followed by the 1.8186 and 1.8230 levels over the longer timeframe. Alternatively, a confirmed loss of the 1.8100 support and a daily close below that level would negate the bullish outlook opening the way for a further retracement and a retest of 1.8067 support level followed by 1.8030. This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
by TradeNation
EURCAD INTRADAY Uptrend breakout supported at 1.5030The EURCAD price action sentiment appears bullish, supported by the longer-term prevailing uptrend. The recent intraday price action appears to be a sideways consolidation towards the rising support trendline zone. The key trading level is at 1.0530 level, the consolidation price range zone. A corrective pullback from the current levels and a bullish bounce back from the 1.0530 level could target the upside resistance at 1.5080 followed by the 1.5093 and 1.5122 levels over the longer timeframe. Alternatively, a confirmed loss of the 1.5030 support and a daily close below that level would negate the bullish outlook opening the way for a further retracement and a retest of 1.5013 support level followed by 1.4974. This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
by TradeNation
CAD/JPY: Potential Reversal as Buyers Step InCAD/JPY has shown signs of exhaustion in its bearish momentum after completing a deep Bat harmonic pattern. The pair has reached a key Fibonacci extension zone, where price action suggests a possible reversal. Bullish interest is evident with price stabilising near the 105.50 level, supported by oversold conditions on momentum indicators. If buyers sustain pressure, a corrective move towards 106.50 and potentially 107.18 could unfold. Confirmation through a breakout of local resistance would further validate a bullish recovery scenario.
Long
by BeaucoupPips
Trump reshaping Canada’s election and Loonie Six weeks ago, a Conservative victory in the next Canadian election seemed inevitable. Now, that certainty is fading. Conservative leader Pierre Poilievre's support from the American right, including Elon Musk, is becoming a potential liability as Canada faces an unprecedented challenge: the U.S. president openly questioning its viability as a nation, threatening tariffs, and even suggesting annexation. A recent Nanos poll shows 39.6% of Canadians see new Liberal leader Mark Carney as the most qualified to negotiate with Trump, compared to 26% for Poilievre. This uncertainty may be weighing on the Canadian dollar. USDCAD broke lower last week, falling below key support (1.4260 - 1.4466), signaling a shift toward sellers. However, the 1-hour chart shows a minor upward trendline defining the current pullback.
by BlackBull_Markets
USDCAD Oversold bounce incoming.USDCAD is trading inside a Channel Up. February's price action has so far been a strong rejection of the price near the Channel Up top with the price dropping even below the MA50 (1d). This is very similar to the last Channel Up Top on October 13th 2022, which first dropped to the 0.5 Fibonacci level and then bounced to the 0.236. Trading Plan: 1. Buy on the current market price. Targets: 1. 1.44750 (the 0.236 Fib). Tips: 1. The RSI (4h) is almost oversold, which also favors buying. In fact it got rejected and currently is on the exact same levels it did in September - October 2022. Please like, follow and comment!!
Long
by TradingBrokersView
AUDCAD: Bearish Cross kickstarting a decline.AUDCAD is practically neutral on its 1D technical outlook (RSI = 55.879, MACD = 0.001, ADX = 33.394) and got rejected on both the 1D MA100 and MA200 that formed a Bearish Cross. The Channel Down mimics the June 30th 2023 Cross that then pushed the price to the bottom of the Rectangle on the 1.382 Fibonacci extension. Go short, TP = 0.86600. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Short
by InvestingScope
1
EURCAD: has bottomed and turned bullish.EURCAD is on a neutral 1D technical outlook (RSI = 45.274, MACD = -0.003, ADX = 32.435) as it rebounded on the bottom of the inner Channel Up, a pattern inside the 1 year Channel Up. If the price crosses over the 1D MA50, it validates the extension of this bullish wave. In that case, the trade will be long, aiming at a symmetric +2.90% increase (TP = 1.51500) like the previous wave. See how our prior idea has worked out: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope
The Loonie's Fate: Can CAD Hold Against USD?The Canadian dollar (CAD) has been losing ground against the U.S. dollar (USD) for years, and this chart suggests that weakness could continue. Since 2015, every time CAD has tried to strengthen, it has failed to break below 1.20, showing a long-term downward trend. USD/CAD at 1.47: A Critical Turning Point Right now, the exchange rate is sitting at 1.4527, just below a key resistance level (1.47). Historically, this level has acted as a ceiling where CAD has struggled to hold its value. Two Possible Outcomes: 1. If CAD Holds Below 1.47 → Potential for Stabilization A rejection at 1.47 would mean CAD could regain some strength, at least in the short term. This could happen if the Bank of Canada holds rates steady while the U.S. Federal Reserve signals rate cuts. If USD weakens, CAD could stabilize around 1.39 or lower. 2. If USD/CAD Breaks Above 1.47 → CAD Could Sink Further A breakout above 1.47 would mean further CAD weakness, and we could see 1.60 or even 1.80 in the long run. This would be bad news for Canadian consumers, as inflation would likely surge. The Bank of Canada might be forced to act aggressively, keeping interest rates high for longer to stabilize the loonie. The Big Picture: Could We See 1.80? The chart suggests that if USD/CAD breaks out above 1.47, the next long-term move could reach 1.80, which would mean an additional 21% devaluation of CAD against USD. What That Would Mean for Canadians: More Expensive Imports: A weaker CAD means higher costs for goods priced in USD—electronics, vehicles, food, and even vacations in the U.S. Higher Inflation Risk: Imported goods would become more expensive, keeping inflation high and making it harder for the Bank of Canada (BoC) to cut rates. Potential Rate Hikes: If CAD weakens too much, the BoC may need to raise interest rates again to stabilize the currency, which could keep borrowing costs high. What Canadians Should Watch Oil Prices: Canada is a commodity-based economy, and higher oil prices typically strengthen CAD (since Canada is a major oil exporter). If oil prices rise, CAD could get some strength back, slowing the decline. Bank of Canada vs. U.S. Federal Reserve Policy: If the Bank of Canada keeps rates high while the U.S. Federal Reserve cuts rates, CAD could strengthen. But if the BoC cuts rates too early, CAD could fall further. Global Market Sentiment: In a risk-off environment, investors flock to USD for safety, weakening CAD. If risk appetite returns, CAD could stabilize. What Canadians Can Do to Prepare If USD/CAD Breaks 1.47 and Moves Higher: Hedge Against a Weak CAD: Consider holding some USD-denominated assets (U.S. stocks, USD savings). Lock in Loan Rates Now: A weakening CAD could keep rates high longer—fixed-rate mortgages may offer stability. Invest in Inflation-Protected Assets: If CAD weakens, commodities, energy stocks, and foreign investments could help hedge against inflation. Buy USD for Future U.S. Expenses: If you travel to the U.S. frequently, it might make sense to buy USD now before CAD weakens further. If USD/CAD Gets Rejected at 1.47 and CAD Recovers: Monitor U.S. Rate Cuts: If the Fed cuts rates, USD may weaken, giving CAD a chance to rebound. Be Ready for Short-Term Relief, But Plan for Long-Term Weakness: Even if CAD strengthens in the short term, the long-term trend still suggests CAD is vulnerable. Final Thoughts: The Loonie’s Fate Rests on 1.47 Right now, CAD is at a make-or-break level. If 1.47 holds, CAD may see short-term strength. If 1.47 breaks, CAD could face a significant decline, making life more expensive for Canadians. With inflation, interest rates, and oil prices all playing a role, this is a crucial time to pay attention to macroeconomic trends, as the next move in USD/CAD will impact Canadians' cost of living, mortgages, and investments. Disclaimer: This is not financial advice. This analysis is for informational and educational purposes only. Always do your own research before making investment decisions.
by TechTrendLabs
USDCAD - 4H TradingRangeDespite various market news over the past few days, USDCAD remains within its trading range, as previously discussed. The pair has yet to make a valid breakout, meaning range trading remains a viable strategy. 📉 Price has rejected the top of the range after recent news, aligning with expectations. 📌 Opportunities arise at key support & resistance zones within this range. We continue to monitor for potential breakouts or further confirmations. Follow for updates!
by Sober_Trading
Is it Time for Commodity Currencies to Shine?As Trump announced tariffs on Canada and Mexico, which was bullish the USD, the CAD closed the day green as Commercial traders are net-long while Speculators are increasing their short position. Will fading this crowded trade (not max crowded yet) end up being one of the better trades during the first quarter of 2025? This is also not the only currency set up that way. Other commodity currencies include the AUD and NZD. These three currencies are where Speculators are most short. Now we wait for the market to confirm the long trade with a news failure. For new followers, the CMR process is to wait for Speculators (both small and large) to become extremely crowded and then fade their trade after a news failure in the market confirms the trade. You want to be on the same side as Commercials when the market turns. Thanks, Jason
CME:6C1!Long
by Crowded_Market_Report
15