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Usd-cad

USDCAD - Already Over-Bought! Again...Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📈 USDCAD has been overall bullish , trading within the rising flat channel in blue. However , USDCAD is approaching the upper bound of the channel again acting as a non-horizontal resistance. Moreover, it is retesting a strong resistance zone at 1.362 - 1.365 marked in green. 🏹 Thus, the highlighted blue circle is a strong area to look for sell setups as it is the intersection of the green resistance and upper blue trendline. 📚 As per my trading style: As #USDCAD is around the blue circle zone, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...) 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
2
USDCAD Puzzle: NFP Triumphs, CPI Looms - Where to Navigate?Dear Traders, As we delve into today's trading session, our attention is squarely fixed on USDCAD, where a compelling buying opportunity may emerge around the 1.35750 zone. Within the realm of USDCAD's current uptrend, we're witnessing a notable correction phase, drawing the pair closer to the critical support and resistance juncture at 1.35750. This juncture warrants careful observation and strategic planning as we navigate market dynamics. Moreover, it's crucial to contextualize our trading stance within the broader economic landscape. Last Friday's Non-Farm Payrolls (NFP) data revealed a robust performance, with an impressive 303,000 jobs added, surpassing expectations which were at 212,000. This upbeat employment report underscores the resilience and strength of the US labor market, potentially instilling confidence in the US Dollar. However, amidst this positive sentiment lies a note of caution. We must be vigilant as we approach Wednesday's impending release of the Consumer Price Index (CPI) data. Anticipations are running high, with projections suggesting a potential uptick in inflationary pressures. Should the CPI data indeed exceed expectations, it could spark concerns about inflationary trends, possibly influencing market sentiment and subsequent trading patterns. Therefore, as we weigh the promising outlook stemming from last week's NFP figures against the looming uncertainty surrounding CPI data, it's imperative to adopt a balanced approach. Stay attuned to market developments, exercise prudent risk management practices, and remain adaptable in response to evolving conditions. In conclusion, while the prospect of a buying opportunity in USDCAD beckons, let's proceed with a measured approach, mindful of both the bullish signals from the NFP report and the potential impact of Wednesday's CPI data release. Wishing you all a safe and successful trading day. Best regards, Joe
Long
by JoeChampion
USDCAD: NFP Surge Sets Stage for CPI ShowdownAttention Traders, In tomorrow's trading session, our focus is on USDCAD, with a strategic eye on a potential buying opportunity around the 1.35700 zone. Currently, USDCAD was trading in a downtrend and successfully managed to break it out, currently is approaching the retrace area at 1.35700. Augmenting our analysis with a fundamental layer, recent Non-Farm Payrolls (NFP) data emerged robust, surpassing expectations with 303k jobs added compared to the forecasted 212k. This positive economic indicator underscores the strength of the US labor market, potentially influencing future monetary policy decisions. Looking ahead, the upcoming Consumer Price Index (CPI) data slated for Wednesday assumes pivotal importance. If CPI figures reveal a significant uptick, signaling heightened inflationary pressures, it could serve as a catalyst for further Federal Reserve hawkishness. Such a scenario, where CPI data exceeds expectations, may reinforce expectations of tighter monetary policy from the Federal Reserve. This could include measures like interest rate hikes or tapering of asset purchases, bolstering the US Dollar and potentially driving upside momentum in USDCAD. As savvy traders, it's crucial to remain attuned to both technical and fundamental factors shaping market dynamics. By incorporating these insights, we aim to navigate tomorrow's trading session with prudence and insight. Best wishes for successful trading endeavors!
Long
by JoeChampion
Sell USDCAD Channel BreakoutThe USD/CAD pair on the M30 timeframe presents a potential selling opportunity due to a recent downward breakout from a well-defined bearish channel pattern. This suggests a shift in momentum towards the downside and a higher likelihood of further declines in the coming hours. Key Points: Sell Entry: Consider entering a short position (selling) below the broken support level of the channel, ideally around 1.3580. This offers an entry point close to the perceived shift in momentum. Target Levels: Initial bearish targets lie at the previous support levels within the channel, now acting as potential resistance zones: 1.3530: This represents the first level of support within the channel. 1.3511: This is a further extension of the downside target, based on the height of the recent price movement before the breakout. Stop-Loss: To manage risk, place a stop-loss order above the broken support line of the channel, ideally around 1.3590. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards. Thank you
Short
by KABHI_TA_TRADING
19
Potential bullish reversalUSDCAD is falling towards a support level and could potentially bounce from this level to our take profit Entry: 1.35149 Why we like it: There is a pullback support Stop loss: 1.34960 Why we like it: There is an overlap support which aligns with the 127.2% Fibonacci extension Take profit: 1.35592 Why we like it: There is a pullback support which aligns with the 61.8% Fibonacci retracement 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
USD/CAD back and forth noisy move target 1.362(4/3/2024)USD/CAD is moving inside of a channel. USD/CAD has a nerve-wracking move these days, a noisy and back-and-forth move, if you are a scalper, it is a paradise for you but if you are not it's an eye sore. FX:USDCAD Anyway, in the chart we can see a big Liquidity zone in 1.36200-1.36400 and still untouched. We believe the price will eventually magnet to this zone. Our technical view has been shown in the chart. If you like it then Support us by Like, Following, and Sharing. Thanks For Reading Team Fortuna -RC (Disclaimer: Published ideas and other Contents on this page are for educational purposes and do not include a financial recommendation. Trading is Risky, so before any action do your research.)
Long
by fortunamarkets
Could price reverse on the pullback resistance level?Price is rising towards a pullback resistance level and could reverse from this level to our take profit Entry: 1.35842 Why we like it: There is a pullback resistance Stop loss: 1.36139 Why we like it: There is a swing high resistance Take profit: 1.35558 Why we like it: There is an overlap support that aligns with the 50% Fibonacci retracement 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
SELL TRADE SETUP ON USDCADHey Traders, Check out this technical analysis on USDCAD; it appears to be undergoing a small pullback, potentially indicating a rejection from the previous resistance area. provided that the resistance are is broken then we can assume for the continuation of the bullish momentum However, I would recommend waiting for a proper retest of the broken key level before considering a buy-trade entry. Alternatively, there may be an opportunity for a sell trade if the market breaches the evident support area. Keep a close eye on this.
Short
by Adefxc
Sell USDCAD - H1 Ascending TriangleUSD/CAD H1: Ascending Triangle Hints at Potential Downturn, Shorting Opportunity Emerges! The USD/CAD pair on the H1 timeframe presents a potential selling opportunity due to the presence of a well-defined ascending triangle pattern. While ascending triangles can be continuation patterns, a breakdown from this pattern, especially on higher timeframes like H1, suggests a higher likelihood of a trend reversal towards the downside. Key Points: Sell Entry: Consider entering a short position below (ideally around 1.3600). This offers an entry point close to the perceived shift in momentum. Target Levels: The initial bearish target lies at 1.3460. Stop-Loss: To manage risk, place a stop-loss order above the broken resistance line (rising trendline) of the triangle, ideally around 1.3630. Thank you.
Short
by KABHI_TA_TRADING
9
USD CADMy analysis on USD CAD, I use limit orders so I don't need to be in front of the chart all day. To consider this a good entry there are certain criteria to follow: 1. Clean BoS with IMB. 2. * Look for areas where liquidity has been purged. 3. * Stochastic: long trades 0-15, in short trades 85-100. ( * ) = Not optional but increases our probability. I use Fibonacci to get these extreme points and my preferred one is 75% retracement, with a risk-reward of 1:3. Trade carefully This is not financial advice, DYOR.
by betimmavriqi
USD CADMy analysis on USD CAD, I use limit orders so I don't need to be in front of the chart all day. To consider this a good entry there are certain criteria to follow: 1. Clean BoS with IMB. 2. * Look for areas where liquidity has been purged. 3. * Stochastic: in uptrend 0-15, in downtrend 85-100. ( * ) = Not optional but increases our probability. I use Fibonacci to get these extreme points and my preferred one is 75% retracement, with a risk-reward of 1:3. Set and forget. Trade carefully, This is not financial advice, DYOR.
Short
by betimmavriqi
USDCAD: Short term buyUSDCAD is almost neutral on its 1D technical outlook (RSI = 55.021, MACD = 0.001, ADX = 15.874) as the price has been mostly ranging within the 0.5 - 0.618 Fibonacci zone for the past two months. The 1D MA50 held and the push crossed over the 1D MA100 again, so on the short term we expect a HH on the 0.382 Fibonacci (TP = 1.36400). After that test, the price action since October 2022 (which is sideways) shows that most likely a pullback under the 0.618 Fib is to be expected. 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
USDCAD Short-term sell signal to the December Low.The USDCAD pair gave us a strong buy signal last time we traded it (February 09, see chart below) but was rejected right under the 0.618 Fibonacci retracement level: A similar rejection happened on December 07 2022 and April 25 2023 which resulted into a sell-off to the lower Support Zone. Even though the medium-term pattern is a (dashed) Channel Up, the recent Bearish Cross formation can initiate a sell-off to the lower Support Zone similar to those we mentioned before. The confirmation would be a 1D candle closing below the 1D MA50 (blue trend-line) and the Higher Lows trend-line of the Channel Up. As a result our short-term target is 1.32300 (just above the Support Zone). A closing above the Symmetrical Resistance Zone, invalidates that. ------------------------------------------------------------------------------- ** 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
3
USDCAD - Top-Down Analysis 📹 UpdateHello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📈 Here is a detailed update top-down analysis for #USDCAD. USDCAD is hovering around the lower bound of the wedge pattern. So we will be looking for trend-following buy setups on lower timeframes. 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good Luck!. All Strategies Are Good; If Managed Properly! ~Rich
Long
by TheSignalyst
1