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Usdcadanalysis

usdcad long positionas we can see, there is a FTR near here and since the price have reacted to the mouth FL of this FTR, I believe that there is a good chance that with this CP approach, we'll see a good reaction to this supply zone. ⚠️ Notice: I will enter one third of my position when price touch the box and the rest of it in the middle of the box. My TP would be R/R=3 and 5. Please trade with your own money management methodology and be aware that trading has its own risks and rewards. Good luck ❤️
Long
by mirzaeiamirsoheil
USD/CAD: Consolidation Calm Before the Storm? The USD/CAD has been consolidating since late last Friday. Key levels include 1.346 and 1.345 for the upper bound and 1.341 and 1.340 for the lower bound. The market appears to be in the middle of the storm that might be unleashed after the Bank of Canada’s (BoC) interest rate decision on Wednesday. In January, the BoC made history by being the first major global central bank to stop its rate-hiking cycle and has kept rates unchanged at its last two policy meetings. However, the economy's unexpectedly robust performance since then has placed the bank in a challenging position and will test its determination to maintain a neutral stance. After declining from its peak at 8.1% in 2022, inflation in Canada unexpectedly experienced its first increase in 10 months, surging to 4.4% in April from 4.3% in March. The increase is being attributed to the recent rebound in Canada's housing market. The current market consensus is for an approximately 40% to 45% chance of a 25-basis-point interest rate hike on Wednesday. According to some, this is underestimating the possibility of a rate hike. Which means that the lower bounds of the current consolidation band could easily be tested (and broken) in the lead up to the interest rate decision. On the other side of the trade, the US dollar faced obstacles as it was revealed that the US services sector experienced minimal growth in May, primarily due to a slowdown in new orders. This news brought an end to the initial surge in the USD, which was triggered by incredibly robust job growth.
by BlackBull_Markets
3
USDCAD Daily Long Term Buying IdeaHello Traders In This Chart USDCAD DAILY Forex Forecast By FOREX PLANET today USDJPYD 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 Video 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 forexplanet797
UsdCad- 1.33 in focus (update)Yesterday I draw attention to a potential double top for UsdCad. Indeed, after an anemic and short-lived rally to 1.3584, the pair broke under the neckline's support and dropped like a stone after. At the time of writing the price is 1.3440 and in the eventuality of a correction, this should be used as a selling opportunity. In conclusion, I remain strongly bearish UsdCad, and rallies (if they will exist) towards 1.35 should be sold. Neck-line support is now resistance and should offer us a point of negation and the target is 1.33 zone support
Short
by Mihai_Iacob
5
Will USDCAD Breakout with Western Texas Oil on the Rise?Are you ready for some oil talk? Because I've got some juicy information for you that might make your day. Rumor has it that Western Texas oil is about to rise, which could mean big things for the USDCAD. You see, the Canadian dollar is heavily tied to the oil price, and if it goes up, we might see a breakout in the USD CAD. So, what does that mean for you? It means that you might want to consider loading up on oil and potentially making some sweet, sweet profits. Now, I know what you're thinking. "But wait, isn't oil a volatile market? Isn't it risky?" And to that, I say, "Of course it is! But what's life without a little risk, am I right?" So, if you're feeling adventurous and want to capitalize on the rise of Western Texas oil, I encourage you to load up and get ready for the ride. Who knows, you might just come out on top. Happy trading!
Long
by bryandowningqln