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Usd-cad

USDCAD | POTENTIAL PULLBACK TRADE NOT GREAT BUT GOODHey Traders! hey everyone its a pullback trade, much riskier than usual due to market current conditions, lower risk or skip this trade entirely, however, this trade does have a W formation on the weekly suggesting there might be a last pullback down off the resistance, we have space of around 40-50 pips until we reach the lower timeframe support, the markets are heavily overextended and there are no great setups to take, I like this one, but it's a good one, not a great one. ✅👍
Short
by FX-TradingLions
USDCAD seems to resist the weekly trendHey Traders, USDCAD have attended an important weekly zone and now seems to be rejecting it. in tomorrow's trading session i will be watching a selling opportunity around 1.385 supply and demand zone at the trend, if CPI data on Tuesday comes above expectations i would expect a trend breakout as that signals more hawkish monetary policy and more of Dollar strength over commodities, if CPI comes soft i would set 1.34 as a target as it's considered the next major support zone USDCAD will be facing. Trade safe, Joe.
Short
by JoeChampion
15
USDCAD H4 | Potential Bearish Reversal Price is testing our resistance which we are looking for a sell entry at 1.3851, if price were to reverse from this level, we could see price drop to 1.3698 which is overlap support and stop loss will be at 1.3898 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.
Short
by Genesiv
1
USDCAD Outlook 9th March 2023Overnight, the Bank of Canada (BoC) released its decision to hold interest rates at the 4.50% level. This was in line with the overall market forecast. However, the decision to hold rates saw the Canadian Dollar weaken (while the DXY remained on its bullish uptrend), resulting in the USDCAD claiming new highs, testing the 1.38 resistance area. If the DXY gains further strength and breaks out to the upside, the USDCAD could first retrace briefly to test the upward trendline, before continuing to climb higher, with the next key resistance level at 1.39. Alternatively, if the price action develops to signal a rejection of the 1.38 resistance level, the price could retrace down to the intermediate support level of 1.3740.
Long
by JinDao_Tai
USDCAD H4 | 8th March Looking at the H4 chart, the price is respecting the ascending trendline. We are looking for a buy entry at 1.3805, which is a swing high. The stop loss level will be at 1.3855, and the take profit level will be at 1.3699, which is an overlap support level. 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.
Short
by Rockqet
USD/CAD: BUY Signals in Uptrend Continuation For a LONG SetupHi there! This week is going to be important for the USD/CAD exchange rate, with several key events in the spotlight. The Bank of Canada Rate Decision, Nonfarm Payrolls, and Federal Reserve Chair Jerome Powell's testimony are all going to be closely watched. So far, USD/CAD is up 0.11%, with a low of 1.3581 and a high of 1.3628. The Bank of Canada is expected to hold the overnight rate at 4.50% on Wednesday, and analysts think that the statement will note robust job growth but also acknowledge that inflation is still coming down. Investors will be paying close attention to Powell's testimony and the jobs report to get a sense of how much the Federal Reserve will raise interest rates. The US Dollar index is down 0.2%, and there's a 76% chance of a 25 basis point increase at the Fed's meeting on March 22. Powell will likely indicate that more tightening is needed, but analysts expect him to be vague about the terminal rate. The Nonfarm Payrolls report is expected to show growth moderating to 220k, but leading indicators suggest that labor market conditions are still tight. Overall, what Powell says and what the jobs report shows will be crucial for the direction of the US Dollar. The FOMC blackout period will begin on March 11, so the Fed still has the option to guide the markets after the jobs report.
Long
by FOREXN1
5
USDCAD H4 | 7th march 2023If the price were to break the descending trendline, our 1st resistance area is 1.3665, and if it were to reverse from this level, it could potentially drop to 1.3519, where the 38.20% Fibonacci retracement which overlaps support is. The next support level after that is 1.3439. As for the stop loss, it is recommended to place it slightly above the recent swing high at 1.3711. This could help minimize the risk in case the price moves against the expected direction. 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.
Short
by Rockqet
6
USDCAD Potential Forecast Post-Ivey PMI | 7th March 2023Fundamental Backdrop 1. The Ivey PMI which is a leading indicator of economic health released dropping from 60.1 to 51.6. 2. This indicates that the industry is contracting. 3. Showing a decrease in business activity and confidence in the Canadian economy. Technical Confluences 1. Price recently bounced off the 1.35700 support level which coincides with the 23.6% Fibonacci line. 2. Near term resistance at 1.36800 Idea With the Ivey PMI result released worst than previous, expect price to head towards the near term resistance at 1.36800 NOT FINANCIAL ADVICE DISCLAIMER The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas. We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades. Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks. OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
Long
by OlympusLab
1
USDCADUSDCAD has been examined in different dimensions: 1- Strong supply and demand levels that I identify with my own indicator and system. 2- The structure of recently formed waves 3- Current market momentum 4- The structure of classical and price patterns In this idea, I identified the direction of the market in different ways and in the second step, I analyzed the potential of continuation or reversal. Usually, paying attention to the trend and strength of the trend can greatly increase the accuracy of the analysis. In general, I tried to describe the continuation of the movement in the simplest possible way in the diagram. ⚠️ Disclaimer: This is a personal opinion and you are responsible for any trading decisions.
Short
by HamidRamezani1992
3
USDCAD Potential Forecast Pre-Ivey PMI | 6th March 2023Fundamental Backdrop 1. The Ivey PMI is going to be released at 11pm SGT 2. It's a leading indicator of economic health 3. The result is expected to be worst than previous, weakening CAD Technical Confluences 1. Price recently bounced off the 1.35700 support level which coincides with the 23.6% Fibonacci line. Idea If the Ivey PMI result released is worst than previous, expect price to head towards the resistance at 1.36850. Alternatively, price could head back down towards the 1.35700 support level coincides with the 23.6% Fibonacci line. NOT FINANCIAL ADVICE DISCLAIMER The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas. We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades. Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks. OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
Long
by OlympusLab
1
USDCAD - Looking For Sell Setup Already!Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst. on WEEKLY: Left Chart USDCAD stuck inside a range and now sitting around the upper bound / resistance zone so we will be looking for trend-following sell setups on lower timeframes. on H4: Right Chart USDCAD formed a symmetrical triangle in blue but it is not ready to go yet. 🏹 Trigger => for the bears to take over, we need a momentum candle close below the last swing low in gray. Meanwhile, until the sell is activated, USDCAD can still trade higher. 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
Short
by TheSignalyst
4
USDCAD: Top of the range?Looking back over this pair, it's been ranging for a long time. The candlestick patterns are clearly showing rejection, we now have a doji to back up the change of direction potential. Fundamentally it seems hat it doesn't matter how good the US news is, the dollar's fate is sealed. Interesting to see how NFP goes on Friday (but still can't see it getting much past 105.5 even with positive news). I'll probably wait on this pair until after the event has calmed down before getting involved. Overall I'm bearish on this, waiting for a good entry for at least a 4:1 score initially, but think it'll go further.
Short
by Finchcliffe
1
USDCAD Multi-week sideways opportunityThe USDCAD pair topped back in October and has turned sideways inside a Rectangle pattern since the November 15 Low. With the 1D MA50 (blue trend-line) used as the Pivot, the 1D MACD indicator can offer a confirmed buy and sell entry when it makes a Bullish and Bearish Cross respectively. Notice when Support 1 was created (previous High turned into Low), hence we project Support 2 to be around 1.30750. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
by TradingShot
USDCAD, H4 | Bearish reversal opportunityWe're seeing price approach our resistance at 1.3663 where it could potentially react off and push prices all the way down to the key overlap support at 1.3519 - which also lines up with a key 38.2% Fibonacci retracement. It's worth noting that there is an intermediate support at 1.3570 which is a smaller overlap support that lines up with the 23.6% Fibonacci retracement - which is the key retracement to break that triggers a bigger move down. In terms of the stop loss, we could place it at 1.3700 which is at a key multiple overlap resistance level. 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.
Short
by Rockqet
USDCAD Outlook 2nd March 2023The USDCAD fluctuated widely overnight with no clear directional bias, with the price remaining between the key support and resistance levels of 1.3560 and 1.3660 respectively. With no major news events on the Canadian front, the next directional move on the USDCAD would be heavily driven by the volatility of the DXY. If the DXY recovers in strength as anticipated, the USDCAD could trade slightly higher to retest the resistance level. While unlikely, if the USDCAD breaks above the 1.3660 resistance level, the next key resistance level beyond that is not far off at 1.37
Long
by JinDao_Tai
USDCAD Potential Forecast | 1st March 2023Fundamental Backdrop CAD's GDP dropped from 0.1% previous to -0.1%. This indicates that inflation has decreased which can possibly cause the Bank of Canada to lower their interest rates. Overall I'm expecting USDCAD to continue bullish. Technical Confluences 1. The overall bias for USDCAD on the H4 chart is bullish. To add confluence to our bias, price is above the Ichimoku cloud and along an ascending trend-line. 2. Expecting price to head towards the key resistance at 1.37000 level. Idea I will be looking for price to possibly retest the H1 support at 1.36200 intersecting with the ascending trend-line before continuing bullish towards the key resistance at 1.37000. NOT FINANCIAL ADVICE DISCLAIMER The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas. We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades. Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks. OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
Long
by OlympusLab