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Usd-cad

USDCAD Approaching Significant ZoneUSDCAD has been Ranging in higher timeframes. On lower timeframes, a Bear market predominates. Price approaching Significant Zone: 1.30900 - 1.31775 Although zone was used previously as support, momentum indicates probable continuation passed this zone onto lower prices - unless proven otherwise by future price movements. Opinion is currently Neutral (no entry yet) with a Bearish bias . Looking for appropriate market structure at Zone for entry (shorts). Aggressively add to position if in profit, with appropriate risk managing and trading psychology. Avoid adding to position if negative.
by virtual_an0maly
USDCAD Bullish signal emerged inside a 15 month Rectangle.USDCAD has hit the 0.236 Fibonacci level of the 15 month Rectangle pattern after a continuous decline since the November 1st High. This level has been a technical buy entry on 5 occassions. Trading Plan: 1. Buy on the current market price. Targets: 1. 1.36350 (0.618 Fibonacci level). Tips: 1. The RSI (1d) has printed a Falling Support, which has been a bottom formation on April 13th and June 22nd. Please like, follow and comment!!
Long
by TradingBrokersView
USDCAD Potential DownsidesIn today's trading session, our primary focus is on USDCAD, where we are actively monitoring a potential selling opportunity around the 1.33900 zone. Currently entrenched in a downtrend, USDCAD demonstrates a sustained downward trajectory. Simultaneously, the currency pair is navigating a correction phase, steadily converging towards the trend at the pivotal 1.33900 support and resistance area. This numerical level holds significance as both a historical support point and a crucial juncture where the correction may intersect with substantial market forces. Our strategic approach for today involves a meticulous assessment of optimal entry points within the identified 1.33900 zone. Aligning our trading decisions with the ongoing downtrend and the potential market dynamics at the critical support and resistance area is crucial. Navigating the correction phase with precision is key as we aim to capitalize on the identified selling opportunity within the broader context of USDCAD's current trend.
Short
by JoeChampion
USDCAD: Sharp sell towards the annual low.USDCAD is being rejected on the 1D MA100, having turned bearish when ir crossed under the 1D MA50 on November 24th. The 1D technical outlook is naturally bearish (RSI = 40.749, MACD = -0.004, ADX = 31.294) giving us the ideal sell opportunity for an additional short, that will aim this time for a -4.00% decline from the top (TP = 1.33500). The 1D RSI is on a perfect symmetry with the April 10th rejection point. See how our prior idea has worked: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Short
by InvestingScope
USDCAD Hit the 1D MA200 after 2 months. What's next?The USDCAD pair hit today the 1D MA200 (orange trend-line) for the first time since September 29. This comes after the November 01 top rejection marginally above Resistance 1 (1.38645) got accelerated by breaking below the 1D MA50 (blue trend-line). With the 1D RSI close to the 30.00 oversold barrier, we see an uncanny resemblance with the March 10 - April 03 sequence. It was on exactly the same 1D RSI level when that fractal delivered a short-term rebound that got rejected on the 1D MA50 and then declined to the top of the Symmetrical Support Zone. As a result we expect today or on Monday a similar dead-cat-bounce and late next week a rejection to resume the downtrend. Our medium-term target is 1.3400 (a little over Support 1). ------------------------------------------------------------------------------- ** 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. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
by TradingShot
2
USD/CAD -28/11/2023- Application of ATR ∙ Average true range is a volatility indicator ∙ Low readings or declining ATR line shows that volatility is shrinking and the price is in a consolidation and implies a breakout or higher volatility ahead ∙ The Canadian Dollar is trading lower benefiting from a weak US Dollar but still within the 1.33-1.38 range that is holding for more than a year (since September 2022) ∙ Meanwhile, the ATR kept on declining for the year confirming the consolidation phase ∙ Bulls attempted to break above the symmetrical triangle but failed to build on gains and the price is back within the triangle ∙ Potential triple top at 1.380-1.3850 ∙ Traders are advised to step aside for the moment and not anticipate the breakout which can happen either way ∙ Low ATR value combined with a stretched triangle imply that the breakout is near and can be a big one
by RamziAbouAbdallah-CMT
USDCAD - Follow The Trend 📈Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📈 USDCAD has exhibited an overall bullish trend , trading inside the rising channel in blue. At present, USDCAD is undergoing a correction phase and it is currently approaching the lower bound of the channel. Moreover, it is retesting a strong resistance turned support highlighted in green. 🏹 Thus, the highlighted blue circle is a strong area to look for buy setups as it is the intersection of the green support and lower blue trendline acting as a non-horizontal support. 📚 As per my trading style: As #USDCAD approaches the lower blue circle zone, I will be looking for bullish reversal setups (like a double bottom 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
Long
by TheSignalyst
8
USDCAD One of the best bullish bets in the market.The USDCAD pair is making Higher Highs within the medium-term Channel Up as presented on our most recent idea (see chart below): As the price is extending its rise, we shift to the 1W time-frame in order to present to you one of the strongest bullish signals on a quarterly horizon. As you can see the pair broke above the (dotted) Channel Down, which on a wider scale is a Bull Flag, while being supported by the 1W MA50 (blue trend-line). The successive 1W Golden Cross into 1W MA100/ MA200 Bullish Cross, is identical to the 2019 sequence that led to a massive early 2020 rise. In fact, the pair shows remarkable symmetry since the January 18 2016 High as it has been trading inside an absolute Rectangle with 1.4700 as its Resistance and 1.20050 as its Support. The Sine Waves show just how cyclical the pattern's peaks and bottoms are. Right now it signals the final phase of the aggressive rally towards the Resistance. We have noticed though that every High has been slightly lower just as every low has beeb slightly lower. As a result we aim at the 0.99 Fibonacci level at 1.4650. ------------------------------------------------------------------------------- ** 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. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Long
by TradingShot
5
USDCAD: Has topped on a 1 year basis. Sell breakout signal aheadUSDCAD has been trading inside a 13 month Rectangle with clear R1 and S1 Zones. Right now the 1D technical outlook is slightly over the bullish mark (RSI = 56.814, MACD = 0.004, ADX = 33.246) as it is on LH after the November 1st rejection inside the R1 Zone. This is an early sell signal but validation will come if the market closes a 1D candle under the 1D MA50, which hasn't happened since August 1st. If it does, we will target the 0.786 Fibonacci retracement level (TP = 1.33250). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Short
by InvestingScope