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Usdcadanalysis

USD/CAD could be nearing the end of its retracementA double top formed this month around a 50% retracement level on the daily charts ahead of its latest pullback. And it is interesting to note that the market tends to react around the 50% level. The double top could actually be part of a 3-wave retracement, and that retracement could be nearing completion. We saw a strong rally into the January high, hence the bias for an eventual continuation of that move. Bulls could look for a swing low to form around 1.3350 - which is near a high-volume node and another 50% level, and initially target the January highs - a break of which brings 1.36 into focus.
Long
by CityIndex
1
USDCAD Long Term buying Trading IdeaHello Traders In This Chart USDCAD HOURLY Forex Forecast By FOREX PLANET today USDCAD analysis 👆 🟢This Chart includes_ (USDCAD market update) 🟢What is The Next Opportunity on USDCAD Market 🟢how to Enter to the Valid Entry With Assurance Profit This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Charts
Long
by ForexPlanet20
3
Trade idea: Canadian inflation data tomorrow On Tuesday, February 20, Canada will unveil the latest inflation data. It is anticipated that headline annual inflation will decrease to 3.2%, marking its first deceleration since October 2023, compared to December's figure of 3.4%. Bear in mind, the Bank of Canada's previously indicated that they expected inflation to persist near 3.5% until mid-2024. The forecasts obviously suggest a slight easing. Various commercial banks offer a range of forecasts too. ING predicts 3.1%, Wells Fargo anticipates 3.2%, National Bank Financial (NBF) estimates 3.3 to 3.4%, CIBC forecasts 3.3%, and Citi expects 3.4%. On the chart. the USDCAD faces challenges breaching the 1.3500 resistance line, but it currently hovers just above a supply zone and right on the threshold of its bullish trend line. The next potential targets are in the range of 1.3530 to 1.3550, with December high at 1.3620, just above this. It's worth noting that both Canada and the US observe bank holidays on Monday, which could lead to reduced trading volumes.
by BlackBull_Markets
USD/CAD still selling offEarlier I posted a USD/CAD SHORT trade which was unforunately blocked because of a TV house violation I was unaware off bit one that I fully understand. I had an initial target for this trade at 1.3492 which we have reached. There's no sign that this pair have finished selling off following the major Retail Sales shock out of the US. Core Retail Sales were expected in at +0.2% but missed by an astonishing 8 points to come in at -0.6%. This has seriously impacted all USD pairs and as I'm in this USD/CAD SHORT I see no reason to close the position just yet. My next target is 1.3470.
Short
by forextraplaces
USD/CAD LONG from 1.3473 USD/CAD has broken through the neckline of a W pattern and has the look of heading higher. The price is now above all significant EMA's that are now grouped on the H1 time frame and its the same story on the H4 time frame. With no significant news until tomorrow's US CPI numbers at 13:30 GMT , there shouldn't anything that would encourage USD/CAD BEARS so the WR1 pivot at 1.3530 looks a reasonable target though we're not likely to get there until well into tomorrow. STOP is under the recent lows 1.3449.
Long
by forextraplaces
4
USDCAD,🔴Will the price drop further?🔴 As you can see, I expected that the price rose to more than 180 Pips and had a bearish reaction after collecting the liquidity above the previous high. Now, by examining the 12-hour chart we can see the price created the FVG and I expect it to fill in the short term, then we can define a bullish order block where we should study the price in the lower time frame and see the bullish reaction in this zone. So if the price stays below 1.3506, the price falls more to 1.3366- 1.33875 💡Wait for the update! 🗓️07/02/2024 🔎 DYOR 💌It is my honor to share your comments with me💌
Short
by VahidTradingCR
11
USDCAD, First long then short... (Read the caption) By examining the 8-hour USDCAD chart, we can define the market structure as bearish. There is a strong supply zone that broke the structure and also it coincided with the POC line, previously the price felt the FVG but could not enter to supply zone and was rejected. Now the price created the liquidity pool formed as an equal high below the institutional flow. So we can expect the price to rise to the supply zone and then fall. I should mention the other supply zone that formed at 1.34362- 1.34644, we can look for a short-term sell position in that zone in a lower time frame. 💡Wait for the update! 🗓️02/02/2024 🔎 DYOR 💌It is my honor to share your comments with me💌
Short
by VahidTradingCR
9
USDCAD BUY | Day Trading AnalysisHello Traders, here is the full analysis. The completed correction, recovery and formation of a pre-breakout set-up hint at the continuation of growth. GOOD LUCK! Great BUY opportunity USDCAD I still did my best and this is the most likely count for me at the moment. Support the idea with like and follow my profile TO SEE MORE. Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 🤝 Patience is the If You Have Any Question, Feel Free To Ask 🤗 Just follow chart with idea and analysis and when you are ready come in THE GROVE | VIP GROUP, earn more and safe, wait for the signal at the right moment and make money with us💰
Long
by TheGrove
1
USDCAD 4 HR | Bearish Trend ContinuationUSDCAD could fall 138 pips if it can stay below 1.35342 Why 1.35342? Let's just round it and say $1.353 Canadian dollar. The exchange price for the United States Dollar is decreasing which means Canadians are able to buy the Dollar at a cheaper price. Evidence High(H) & Low(L) Per the 4 our timeframe, price is declining. The current falling price of the Dollar price per the Canadian Dollar has been 1.34152(L), 1.35342(H), and 1.34136(L). We can see the high and low prices are decreasing hence what is called LOWER LOWs and LOWER HIGHs. Actions The best action to take is to sell since currently the trend is down. That is what the chart per this timeframe is showing. The best price to sell below as stated above is 1.35342. The entry price is between 1.35207 and 1.35342. This range equates to 13 pips. This means if you enter at market order, you can wait for price to enter the range and provide evidence price can decrease. Or, if you set a pending order , you can set a pending order at 1.35207 with a TP down to the low or further. Why do I believe price can fall 138 pips? This is a Reward to risk drop from the pending order price of 1.35207 based on my stop loss placement. Sidenote: Your Reward to Risk will vary from mine analyzing this trade using your own risk management strategy and trading plan. What can invalidate this trade? If price pushes higher than 1.35342, showing evidence buyers have taken control, the trade in invalidated. Or, price could continue to drop from here which means we'd have to update the sell idea. What would this mean? If you entered the trade and price went higher than 1.35342 you'd be stopped out. However, if price were to continue lower without pushing past the highs, you'd be in profit. Should you trade this? If this fits how you trade, yes. If not no. Let's keep it that simple. I hope you enjoyed this analysis. Like this post and share it if you did.😁 Many blessings, Shaquan
Short
by ShaquanLopez