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Loonie

USDCAD H4 | Rising into overlap resistanceUSDCAD could rise towards an overlap resistance and potentially reverse off this level to drop lower. Sell entry is at 1.36126 which is an overlap resistance. Stop loss is at 1.3710 which is a level that sits above the 61.8% Fibonacci projection level and the recent swing-high resistance. Take profit is between 1.3507 and 1.34841 which is an overlap level. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Forex Capital Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd, previously FXCM EU Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. FXCM Australia Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). 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 TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
Short
by FXCM
USDCAD H4 | Bounce off 38.2% Fibo support?USDCAD is falling towards a pullback support and could potentially bounce off this level to climb higher. Buy entry is at 1.36034 which is a pullback support that aligns with the 38.2% Fibonacci retracement level. Stop loss is at 1.34850 which is a level that aligns under an overlap support level and a recent swing-low. Take profit is at 1.37331 which is a resistance level that aligns with the 161.8% Fibonacci extension level. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Forex Capital Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.. Stratos Europe Ltd, previously FXCM EU Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. FXCM Australia Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). 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 TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
Long
by FXCM
USD/CAD: Double top beneath key swing highsUSD/CAD has risen just over 4% since its YTD low set in July. And it did so in a relatively straight line. Yet a double top has now formed on the daily chart beneath the April and May highs, with the second ‘top’ coming in the form of a bearish engulfing / outside day. This likely points to at least a minor top over the near-term. Any low-volatility moves towards 1.3600 could provide bears an improved reward to risk ratio, with 1.3500 making a viable initial target. Should US data such as GDP, ADP employment and Nonfarm payroll disappoint, we could be looking at much lower.
Short
by CityIndex
USDCAD H4 | Falling to overlap supprotUSDCAD is falling towards the buy entry at 1.35673 which is an overlap support and could potentially reverse from this level to bounce higher. Stop loss is at 1.34852 which is an overlap support level that sits below the 23.6% Fibonacci retracement level. Take profit is at 1.36545 which is a multiple swing-high resistance level. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Forex Capital Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd, previously FXCM EU Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. FXCM Australia Pty. Limited (www.fxcm.com): ** Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com FXCM Markets LLC (www.fxcm.com): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘Name of third party provider). 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 Name of third party provider. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
Long
by FXCM
USD/CAD: Potential swing trade shortWe outlined a bearish bias in a previous USD/CAD article which clearly did not play out, thanks to hawkish comments from Fed members, hawkish FOMC minutes and stronger economic data for the US. However, a strong Canadian employment report on Friday has now seen odds shift in favour of a 25bp BOC hike this week – and if that is to be coupled with a soft(er) than expected US inflation report, perhaps we’ll finally see that swing trade short play out after all. A 3-wave rally has stalled at the 50% retracement level and 50-day EMA to suggest a swing high is in place. We’ve seen a minor attempt to retrace within Friday’s range during Asian trade (and a higher retracement would be welcomed to help improve the potential reward to risk ratio). Assuming momentum has realigned with the bearish daily trend, a move towards (and break beneath) the June low on its way to 1.3000 is now in focus.
Short
by CityIndex
USD/CAD breaks to a 9-month low, 1.3000 in focusCanadian consumers want to have their inflationary cake and eat it, with a hot retail sales report bolstering bets that the BOC could hike again at their next meeting in July. Whilst a hike is not yet a given, the BOC did deliver a hawkish hike earlier this month - and with consumers continuing to spend, it keeps the pressure on the BOC for further hikes. Yet a weaker USD - seemingly on the back of Jerome Powell's testimony not being hawkish enough - helped USD/CAD break to a 9-month low. The daily chart shows that is closed near the lows of the day after falling through a major zone of support. It's interesting to see the daily low found support at the September VPOC (point of control), so perhaps we'll see a minor bounce before losses resume in the direction of the breakout. The bias remains bearish beneath 1.3270, but we'd prefer to seek bearish setups o lower timeframes beneath Tuesday's low to increase the potential reward to risk ratio But if bears maintain their grip on USD/CAD, a break to new lows brings the 1.3000 handle into focus over the coming weeks.
Short
by CityIndex
Demand Zone/Support Break Could Propel Loonie Towards 1.30200!With the long term ascending triangle confirmed being breached on weekly charts, USDCAD will likely try to target 1.30200 level in the near term! However there are two obstacles that are still present which would likely restrict the price from falling further to our target: 1) The important Demand zone/support located at 1.32000 level 2) Long term ascending trendline For the trade criteria to be met properly, we need both weekly and monthly candle to close below 1.32000 demand zone. This should confirm with high probability that indeed the level has been broken. For the last criteria, the long term ascending trendline also needs to break which should be confirmed by weekly candle breaching it properly. After all this has taken place, a short trade can be executed with Target being 1.30200 and Stop loss above swing high with risk to reward ratio of 1:1. Note: This is just an analysis/view and not a trade signal. Once if the criteria is met, trade details would be posted in a separate post. Lets see what happens. Cheers
Short
by FX618Analysis
CAD/CHF strong upside to come to 0.7303 - But we need to waitInv Head and Shoulders seems to be forming on the CAD/CHF Minor Currency Pair. There is a fight between Canada and Swiss Franc and it looks like Canada is preparing the troops for upside in the chart. We need to wait for the higher low to form (right shoulder). Then for the price to break above the neckline and it will be breaking above the medium term downtrend. 7>21 Price<200 RSI>50 Target 0.7303 INTERESTING FACT! Did you know how the CAD Canadian Dollar got it's nickname - Loonie from/ No not that! lol But I know you're thinking it. The name "loonie" originates from the bird depicted on the one-dollar coin. The common loon, a bird that is widespread in Canada, was selected as the emblem for the coin, leading to the currency's popular nickname. The loonie was introduced in 1987 (my brith year) as a cost-saving measure to replace the one-dollar banknote.
Long
by Timonrosso
Challenges Ahead for USD/CAD Bulls Last night, the Bank of Canada decided to raise its interest rate by 25 basis points, bringing it to 4.75%. This move came after a pause in the tightening campaign during the two previous meetings. As a result, borrowing costs reached a level not seen in 22 years. Because most of the market, approximately 60%, expected interest rates to remain unchanged, the Canadian dollar (CAD) strengthened against the US dollar (USD) following the news. The USD experienced a decrease of 0.23% against the CAD. The initial reaction in the USD/CAD exchange rate showed an 80-pip drop, bottoming out at 1.3320. However, the possibility of an additional rate increase by the Federal Reserve in July likely limited the losses. The upcoming release of US inflation data next week, coinciding with the Federal Open Market Committee (FOMC) meeting, may provide limited insights into the validity of this possibility. If there are any further upward movements, reaching the area around 1.3400 could present a challenge for those expecting gains. This is because the 50-day, 100-day, and 200-day moving averages (MAs) on the 30-minute chart are all moving in their own lanes, indicating that the short-term price won't be fighting the long-term downtrend just yet. The April 14 low of 1.3300 and the aforementioned 1.3320 could be key if the pairs move lower.
by BlackBull_Markets
Bank of Canada Interest Rate DecisionThe USDCAD traded lower, since the start of June, reversing from the 1.3650 price level, now hovering along the 1.34 price level. Over the last couple of days, the USDCAD had been in a narrow downward range. The Bank of Canada (BoC) is due to announce its interest rate decision. With the current rates at 4.50%, there has been speculation that a surprise rate hike could be decided (similar to what happened with the RBA and the AUDUSD). However, I think that the data might not support such a surprise, with the BoC likely to maintain its current interest rate level. This is likely to cause the USDCAD to trade higher, from this current area of 1.34 toward the immediate resistance level of 1.35.
Long
by JinDao_Tai
2
USDCAD H4|Exhibiting bullish momentum?USDCAD formed a recent swing-low and has reversed from here. We could see momentum carry price up to our take profit target. Entry: 1.33898 Why we like it: There is a recent swing-low support Stop Loss: 1.33230 Why we like it: There is an overlap support that sits below the 127.2% Fibonacci extension level Take Profit: 1.34615 Why we like it: There is an overlap resistance that sits above the 23.6% Fibonacci retracement 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
Joe G2H - NZDCAD at trend resistanceTrade Idea: Selling NZDCAD Reasoning: Selling into downtrend resistance on the daily chart Entry Level: 0.8500 Take Profit Level: 0.8405 Stop Loss: 0.8541 Risk/Reward: 2.3/1 Disclaimer – Signal Centre. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis , like all indicators, strategies, columns, articles and other features accessible on/though this site is for informational purposes only and should not be construed as investment advice by you. Your use of the technical analysis , as would also your use of all mentioned indicators, strategies, columns, articles and all other features, is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness (including suitability) of the information. You should assess the risk of any trade with your financial adviser and make your own independent decision(s) regarding any tradable products which may be the subject matter of the technical analysis or any of the said indicators, strategies, columns, articles and all other features.
Short
by Signal_Centre