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Usd-cad

USDCAD Sell signal to the end of the yearThe USDCAD pair has been following for a very long time our 1W trading pattern and as per our trading plan on November 01 2021, it reached our 1.36000 target for 2022 already: As you see the projection couldn't have been better and this approach is a great way for long-term investors to benefit with relatively low risk. Currently however we shift our focus on the medium-term and the 1D time-frame where the pair has a Bearish Divergence according to its 1D RSI. As shown while the price action has been on Higher Highs, the RSI is on Lower Highs. The last two times this Bearish Divergence emerged, the price hit both the 1D MA50 (blue trend-line) and the 1D MA200 (orange trend-line) with ease and even dipped below the 0.618 Fibonacci retracement level. Our medium-term target before this year is out is the 1D MA50 itself. Traders who want to pursue more risk, can target the 1D MA200, whose fair projection by December should be slightly above the 0.786 Fib. ------------------------------------------------------------------------------- ** Please LIKE 👍, SUBSCRIBE ✅, 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 me, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- You may also TELL ME 🙋‍♀️🙋‍♂️ in the comments section which symbol you want me to analyze next and on which time-frame. The one with the most posts will be published tomorrow! 👏🎁 ------------------------------------------------------------------------------- 👇 👇 👇 👇 👇 👇 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Short
by TradingShot
2
BCOUSD Potential For Bearish DropOn H4, with the price breaking the ascending trendline and below ichimoku cloud, we would hold a bearish bias. The price is showing a double top pattern, if the pattern is formed, we can expect to sell at 1.35071, which is the neckline of the double top pattern. The take profit is at 1.32230, where the overlap support is. Alternatively, the price may rise to the stop loss at 1.38491, where the previous swing high is. 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
USDCAD Potential For Bullish RiseOn H4, with the price moving above ichimoku cloud and within the ascending channel, we have a bullish bias that the price may rise from the buy entry at 1.37814, which is in line with the 61.8% fibonacci retracement and overlap support to the take profit at 1.40315, where the 61.8% fibonacci projection is. Alternatively, the price may drop to the stop loss at 1.35200, where the swing low is. 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
2
USDCAD Potential For Bullish RiseOn H4, with the price moving above the ichimoku cloud, and the US CPI data coming out today, we have a bullish bias that if the price can break the buy entry at 1.38266, where the previous swing high is, the price may rise to the take profit at 1.40315, which is in line with the -23.6% fibonacci extension. Alternatively, the price may drop to the stop loss at 1.36549, where the overlap support and 50% fibonacci retracement are. 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
2
USDCAD Potential For Bullish RiseOn H4, with the price moving above the ichimoku cloud , we have a bullish bias that if the price can break the buy entry at 1.38266, where the previous swing high is, the price may rise to the take profit at 1.40315, which is in line with the -23.6% fibonacci extension . Alternatively, the price may drop to the stop loss at 1.36549, where the overlap support and 50% fibonacci retracement are. 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 - FUNDAMENTAL DRIVERSUSD FUNDAMENTAL OUTLOOK: BULLISH BASELINE With headline CPI above 8% and Core CPI seeing acceleration in August, the Fed is under pressure to continue hiking rates and ramping up QT. The bank made its third 75bsp at the Sep meeting and pushed up their 2023 terminal rate projection to 4.6%. The Fed is on a data-dependent (meeting-by-meeting) policy stance, meaning incoming growth, inflation and jobs data remains a key driver for short-term USD volatility where we expect a cyclical reaction with incoming data for both the USD and US10Y (good data expected to be supportive for the USD while bad data is expected to pressure the USD). It was a choppy week for the USD, with entertaining ‘Fed Pivot’ narratives trying to make sense of the price action. In the week ahead, all eyes turns to the week’s main event which is Thursday’s September US CPI report. POSSIBLE BULLISH SURPRISES With the Fed signalling a data dependent policy stance, we expect a cyclical reaction from the USD with incoming US data. Thus, extremely good growth, inflation or jobs data is expected to trigger short-term bullish reactions in the USD. If the cyclical outlook continues to weaken, the USD’s safe haven status still matters. Any incoming catalysts that increase deep recession fears and triggers strong moves lower in risk assets & bonds can trigger safe haven flows into the USD. With a lot priced in for the Fed and the USD, the bar is high for hawkish Fed surprises, but any aggressive Fed speak talking up a higher than 5% terminal rate can trigger further USD upside. POSSIBLE BEARISH SURPRISES With the Fed signalling a data dependent policy stance, we expect a cyclical reaction from the USD with incoming US data. Thus, extremely bad growth, inflation or jobs data is expected to trigger short-term bearish reactions in the USD. If the cyclical outlook starts to improve, the USD’s safe haven status still matters. Any incoming catalysts that decrease deep recession fears and triggers strong moves higher in risk assets & bonds can trigger safe haven outflows out of the USD. With a lot priced in for the Fed and the USD, it won’t take much to disappoint on the dovish side. Any big concerns about growth from Fed speakers could trigger outflows. BIGGER PICTURE The fundamental outlook for the USD remains bullish as long as the Fed stays hawkish and cyclical concerns put pressure on risk sentiment. The data dependent stance from the Fed means that short-term data surprises can pull the USD either way and would be our preferred way of trading the Dollar right now. In the upcoming week markets will only have eyes for one data point and that will be the US September CPI data released on Thursday. With expectations of a higher Core CPI YY but expectations of a lower Headline CPI YY it seems risky to trade into this event. CAD FUNDAMENTAL OUTLOOK: NEUTRAL BASELINE Recent economic data has shown some deterioration for the growth outlook with three consecutive months of contraction in jobs, falling house prices, and a deceleration in both core and headline CPI. Friday’s jobs data gave the CAD a decent lift with it’s first jobs gain in four weeks, but at 21K jobs added, that means the job market is still down 92K jobs in the last four months. Apart from the data though, the CAD also got a lift from fairly hawkish BoC Macklem comments, who talked up higher rates despite recent slowing in the data, seeing markets pricing in a higher probability for a 50bsp hike again this month. Oil prices also got a decent lift after the week’s OPEC meeting where a 2mln B/D production cut pushed more focus on the shortterm supply drivers for oil. Even though correlation to oil has been a hit and miss in recent weeks, it provide some additional support for the CAD. POSSIBLE BULLISH SURPRISES Catalysts that see upside in Oil (deteriorating supply outlook, ease in demand fears, OPEC developments) could trigger bullish CAD reactions. As a risk sensitive currency, and catalyst that causes big bouts of risk on sentiment could trigger bullish reactions in the CAD. After the bank’s frontloading, there is a very high bar to surprise on the hawkish side for the BoC, but if the bank were to say they think STIR market pricing for the terminal rate is too low that can provide upside for the CAD. POSSIBLE BEARISH SURPRISES Catalysts that trigger downside in oil (deteriorating demand outlook, ease in supply shortage, less supply constraints, OPEC developments) could be a negative catalyst for the CAD as well. As a risk sensitive currency, and catalyst that causes big bouts of risk off sentiment could trigger bearish reactions in the CAD. With the bank just 75bsp away from terminal rate expectations, it won’t take much to surprise on the dovish side, and any signals or comments from the BoC that they’ll pause hikes should be a negative for the CAD. BIGGER PICTURE The bigger picture outlook for the CAD remains neutral for now. Given the clear risks to the growth outlook (recent negative econ data and fall in oil prices) we remain cautious on the currency. Furthermore, with lots of good news priced, and with the BoC close to terminal rate expectations, our preferred way of trading the CAD is lower on clear short-term negative catalysts. Like most currencies the week ahead schedule is extremely light for the CAD, which means US CPI, Q3 Earning Season and further oil developments should be the main driver for the CAD.
by thunderpips
6
USDCAD Potential For Bullish RiseOn H4, with the price moving above the ichimoku cloud , we have a bullish bias that if the price can break the buy entry at 1.38266, where the previous swing high is, the price may rise to the take profit at 1.40315, which is in line with the -23.6% fibonacci extension. Alternatively, the price may drop to the stop loss at 1.36549, where the overlap support and 50% fibonacci retracement are. 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 -10/10/2022-• Bullish trend still in play and intact • Prices recently broke an ascending channel, showing signs of additional strength of the prevailing trend • Bulls faced resistance at 2017 high, the round level of 1.3800 • Next resistance at 1.40 psychological level and 2016 high followed by 1.4670 (2022 and 2016 peak) • Trading recommendations: • Might be reasonable for short term sellers to short at this point (1.37s) with a stop loss just above 1.38, betting on a short term correction • Buyers might wait for a retracement or buy on a confirmed break above 1.38 with a target near 1.40
by RamziAbouAbdallah-CMT
USDcad Potential For Bullish RiseOn H4, with the price moving above the ichimoku cloud, we have a bullish bias that if the price can break the buy entry at 1.38496, where the previous swing high is, the price may rise to the take profit at 1.40160, which is in line with the -23.6% fibonacci extension. Alternatively, the price may drop to the stop loss at 1.36849, where the overlap support is. 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
USDCAD Potential For Bearish ContinuationOn H4, with the price moving below the ichimoku cloud, and there's a possible "double M" pattern, we have a bearish bias that the price may drop form the sell entry at 1.36050, where the "neckline" is to the take profit at 1.34995, which is in line with the 38.2% fibonacci retracement. Alternatively, the price may rise to the stop loss at 1.36534, which is in line with the overlap resistance. 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
USDCAD H4: Bearish outlook seen, further downside below 1.36000On the H4 time frame, prices are approaching the support zone at 1.3600 which coincides with the 23.6% Fibonacci retracement and graphical swing low. A break and close below this support zone would provide the bearish acceleration for a further drop to the next support zone at 1.3220. The 1.3220 support zone is in line with the Fibonacci confluence levels and the resistance-turned-support level. Stochastic is testing resistance and showing bearish divergence as well, highlighted in red, signalling a potential change in momentum.
Short
by T3-Consultancy
USDCAD to see a dip?USDCAD - Intraday - We look to Buy at 1.3575 (stop at 1.3515) Previous support located at 1.3600. Previous resistance located at 1.3695. We expect a reversal in this move. Risk/Reward would be poor to call a buy from current levels. A move through 1.3650 will confirm the bullish momentum. Our profit targets will be 1.3695 and 1.3700 Resistance: 1.3695 / 1.3700 / 1.3750 Support: 1.3600 / 1.3575 / 1.3550 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
Long
by OANDA
USDCAD in front of highAfter the rapid rise of recent weeks, should be at 1.395 end for now. Looking at the sub-waves of the last movement, today's high could also have already ended the wave. For reasons of clarity, I have not drawn these with. There are two options afterwards; either the pair rushes massively into the depths towards 1.12 or we only see a correction into the area of 1.344 to form a high at 1.541 afterwards. Looking at the pair itself, I would prefer the path towards 1.12, from here it could even go further down, but looking at the dollar strength and taking into account the targets in the other pairs, the scenario presented here as ALT should come to pass.
Short
by Elliott-Waves-2_0
USDCAD to see a lower correction.USDCAD - Intraday - We look to Buy at 1.3620 (stop at 1.3560) Previous support located at 1.3620. Previous resistance located at 1.3700. A lower correction is expected. Risk/Reward would be poor to call a buy from current levels. A move through 1.3700 will confirm the bullish momentum. Our profit targets will be 1.3740 and 1.3750 Resistance: 1.3700 / 1.3740 / 1.3750 Support: 1.3620 / 1.3600 / 1.3575 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
Long
by OANDA