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USD-CAD-LONG

USDCAD: Buy the dip strategy in short termHi everyone! From a technical point of view on main time frame the trend still remains bearish, but at the same time we think that USD/CAD pair could trigger a bullish consolidation on one hour chart, let's look at what will happen in the next few hours and if the conditions are met, we will publish also some updates on intrady chart. Technically speaking, our strategy is simple: "Buy the dip"! Thanks for your support, Like & Comments and I hope to be helpful! 💖 Trade with care! Anonymous Trader
Long
by TheAnonymousBanker
1
USD CAD Long Entry USDCAD has been in a steady uptrend since the 21st of October. The price has risen by 3.22% since the price found support at the 1.23 levels. Since Friday there has been a correction of about 1.3% down to around the 1.26 area. The RSI levels on the 1hr and 4hr time frame remain very oversold which suggests that the price has room to rise from this point. The stop loss area for this trade is located at the previous resistance now turned support at 1.260. The target is the previous high at 1.274.
Long
by Orion-Markets
USDCAD 325pip LONGHello Traders, Here we have a USDCAD long trade idea. If you like this idea please show your support! This trade idea is based off the fact of the USD reaching a weekly low and we can see some resistance beginning to occur. Also the Canadian Dollar is reaching its peak combined with oil prices maxing out. This has given us a lovely zone of interest for a entry on this pair. We have 2 zones of interest as we do not want to miss this entry however if we continue to see a weaker US Dollar scenario A will most likely play out This trade has 2 TP zones Take Profit 1 : 165 pips Take Profit 2 : 325 pips Stop Loss : 30 pips Overall RISK:REWARD : 10.83 Wondering why CAD and OIL have such a similar reaction? Check out my post on correlation below
Long
by Pips-Collector
USDCAD facing bullish pressure | 26th July 2021 Price continues to rest above the ascending trendline at 1.25567 in line with 61.8% Fibonacci retracement and 161.8% Fibonacci extension. Price is likely to rise to the 1st resistance at 1.27816 which is in line with the horizontal swing high and the 61.8% Fibonacci extension. Our bullish bias is further reinforced by how the stochastic is seen to be approaching and likely to bounce up from a hidden support level. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Long
by TradeGATEHub
USDCAD facing bullish pressure | 22nd July 2021Price is testing and likely to bounce up from our pivot in line with the ascending trendline, 61.8% Fibonacci retracement as well as 161.8% Fibonacci extension level. Price is expected to rise up to our horizontal swing high which is also in line with 61.8% Fibonacci extension level. Our bullish bias is supported by how the Stochastic is seen to be approaching the hidden support level at 9.38. 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, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
Long
by FXCM
USDCAD facing bullish pressure | 22nd July 2021 Price is resting above the ascending trendline which is in line with the 1st support, 61.8% Fibonacci retracement, 161.8% Fibonacci extension as well as the horizontal swing low support. Price is likely to bounce and rise to at least the 1st resistance level which is in line with the 61.8% Fibonacci extension level as well as the swing high resistance. Alternatively, price may break below the ascending trendline and drop to the 2nd support which is in line with the 78.6% Fibonacci retracement as well as the horizontal swing low support. Our bullish bias is further supported by how the Stochastic is shown to be approaching and likely to bounce off the hidden support level. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Long
by TradeGATEHub