Get started

Usdcadforecast

USD/CAD Navigating Sideways Trading and Bearish MomentumThe USD/CAD pair has been exhibiting a bearish trend, and technical momentum remains unfavorably oriented for the USD. The recent attempts at a recovery from around 1.3100 were met with resistance near the 20-period daily Exponential Moving Average (EMA) at 1.3230. This suggests selling pressure and a potential continuation of the downside move. Fundamentally, the US Dollar has been weak due to a lack of supportive fundamentals, including subdued retail demand and the Federal Reserve's ongoing fight against inflation through interest rate hikes. On the other hand, the Canadian Dollar has shown some strength, supported by easing inflationary pressures in Canada, which allows the Bank of Canada to keep interest rates steady. TRADE IDEA DETAILS CURRENCY PAIR: USD/CAD CURRENT TREND: Bearish TRADE SIGNAL: Sell 👉ENTRY PRICE: Approximately 1.3220 ✅TAKE PROFIT: Around 1.3077 ❌STOP LOSS: Near 1.3265
Short
by RichDadph-FX
USDCAD: Today!The USD/CAD exchange rate is uncertain around the 1.3170-80 level early on Wednesday morning in Europe. Although the downtrend has paused for now, traders are still looking for more evidence to support buying the Canadian dollar against its US counterpart, especially after a slow Asian session. On one hand, Canada's inflation numbers were disappointing, while the US Retail Sales data and a decline in WTI Crude Oil prices (Canada's main export) may attract buyers of the USD/CAD pair. On the other hand, positive market sentiment and concerns about the Federal Reserve's dovish stance are likely pushing the exchange rate higher.
Long
by Sphyn-Trader
16
USDCAD | Might get a strong pull back.Friends, please support this idea with a BOOST if you find it useful. Might get a strong pullback even if it is uptrend in higher time frames. Reason: - The price is now trading near a strong resistance area . - Weaker support to the downside. Disclaimer! This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
Short
by Fx_Stormtrader
USD/CAD Faces Resistance at 1.3300 Amid Market CautionThe USD/CAD currency pair encountered strong resistance around the 1.3300 level during the New York session. This resistance was influenced by factors such as a cautious market sentiment, negative expectations for second-quarter corporate earnings, and a decline in the US Dollar Index (DXY) despite the anticipation of interest rate hikes. Additionally, the Canadian Dollar received support from rising oil prices, further impacting the currency pair's dynamics. Market Analysis: The S&P500 is expected to open on a negative note as investors adopt a cautious approach, considering the upcoming corporate earnings season. The anticipation of subdued earnings is primarily attributed to the Federal Reserve's decision to raise interest rates and the tightening credit conditions implemented by commercial banks. These measures aim to maintain asset quality amidst a potentially turbulent economic environment. TRADE IDEA DETAILS CURRENCY PAIR: USD/CAD CURRENT TREND: Bearish TRADE SIGNAL: SELL 👉ENTRY PRICE: Approximately 1.3300 ✅TAKE PROFIT: Around 1.2500 - 1.3000 ❌STOP LOSS: Approximately 1.3400 Economists at Société Générale have analyzed the Canadian Dollar's outlook and anticipate a decline in the USD/CAD pair below the 1.30 level. The relative rates between the US and Canada are likely at their peak for the current economic cycle, which should support the CAD going forward. While the possibility of further tightening by the Federal Reserve and potential rate hikes by the Bank of Canada may prevent a rapid movement, Société Générale expects a return to a trading range of 1.25-1.30 for USD/CAD by the end of the year.
Short
by RichDadph-FX
UsdCad- False break under support?In my previous UsdCad analysis, I said that the pair could fall to 1.3250-1.33 zone support. Indeed, the pair reached my target and even dropped under this horizontal support. Now UsdCad is back to this zone, now resistance, and is interesting to see how it will act. On one hand, UsdCad back above 1.33 would confirm a false break and the pair could resume its long-term up trend with a target at 1.3650, on the other hand, a reversal from this level would expose the recent low and even lead to a break of the ascending trend line.
by Mihai_Iacob
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 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
USDCAD - Short active ✅Hello traders! ‼️ This is my perspective on USDCAD. Technical analysis: Here we are in a bearish market structure from 4H timeframe perspective, so I am looking for shorts. I expect bearish price action from here as we can see that price rejected from half of imbalance + 1H breaker block. Fundamental analysis: Tomorrow we have news on CAD, will be released monthly GDP, which is forecasted to increase, this means strength in currency. Like, comment and subscribe to be in touch with my content!
Short
by Snick3rSD