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Usdcadforecast

USDCAD | Still Uptrend | Might get a Retracement.When it comes to the technical analysis of USDCAD, it is still in uptrend and likely to get at least 250 Pips to the upside. However, based on the current scenario, there is a good chance price might try to get a pull back before it move to the upside; which could be approximately 150 pips and it is a good short opportunity as well. But I don't recommend you to trade against the trend. If you are planning to go short, better place the stop above the R1. And also, if price breaks the below demand area don't go long. What do you think is more likely to happen? Please share your thoughts in comment section. And also give a thumbs up if you find this idea helpful. Any feedback & suggestions would help in further improving the analysis. If you find this technical analysis useful, please like & share our ideas with the community. Good Luck! 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.
Long
by Maxproftrade
1
USDCAD LONG - Buy Entry - H4 ChartUSDCAD LONG - Buy Entry - H4 Chart Buy @ Market Symbol: USDCAD Timeframe: H4 Type: BUY Entry Price: Buy @ Market Resistance @ 1.29249 Resistance @ 1.28011 Resistance @ 1.26499 Pivot Point Yearly @ 1.25382 Support @ 1.25215 Support @ 1.24575 ✅ If you liked this analysis, please consider Following and giving it a Thumbs Up 👍 ✅ If you have any feedback or questions, please leave a comment below as I answer each comment 💬 ✅ Wishing you enjoyable successful trading 🙏
ULong
by UnknownUnicorn35780991
USDCAD might fall all the way down to 1.23!Hello traders, I just spotted a high probability setup on USDCAD. The pair was in a HTF triangle and this triangle was broken to the bottom. We saw price rising back and retested the broken diagonal support and we see price falling very rapidly. 1.266 is also a a confluence of the broken rising trendline and the horizontal level. Bulls will have difficulty taking price higher beyond these levels. We will be considering shorting the pair. Please support this idea with likes if you find it beneficial. I'll be glad.
Short
by Forexintelligence_NA
1
USDCAD - FUNDAMENTAS WITH TECHNICAL LEVELS- PPI DATA for USD is due out today. Reports and data on the CORE PPI, as well as the 10Y BOND AUCTION, will be released today. Also FOMC BRAINARD has a SPEAK today. - DXY currently stands at 100.32 LEVEL. USD has become STRONG in the last few days. After FOMC and LABOR DATA, USD received a slight POSITIVE SENTIMENT. Also, the CAD FEATURE is down to 0.7924 LEVEL. However, CAD is becoming WEAK relative to DXY due to being OIL DOWN. The USDCAD PRICE looks like it's moving towards DYNAMIC S / R LEVELS. - Currently the SENTIMENT of the OVERALL MARKET is being POSITIVE. Until yesterday the MARKET RISK was OFF. STOCKS DOWN DOWN until yesterday. Also, the EQUITIES are turning somewhat GREEN but the VOLATILITY is going down. Also COMMODITIES still shows a UP SIDE BIAS. There is a NEUTRAL BIAS currently on the market. It's a bit more than the DOWN SIDE BIAS. We can not say for sure whether the MARKET SENTIMENT is UP or DOWN. But according to the data we have received so far we can say that MARKETS RISK is turning ON. - OIL PRICE is currently down a bit. It will inevitably affect CAD. But the TECHNICALLY USDCAD can go to the SELL a bit faster in the next few days because a RESISTANCE has a PRICE and is RISK ON. - USDCAD PRICE can be UP to 1.2685 LEVEL before DOWN. Then the USDCAD PRICE can be down again up to 1.2415 LEVEL. The USD may be slightly WEAK in the coming days due to the MARKET SENTIMENT. The OIL PRICE applies to USDCAD, and the decisions made at OPEC MEETING will have the greatest impact on USDCAD.
by benny_marshall
USDCADThe US dollar has rallied significantly during the trading session on Thursday to continue the recovery against the Canadian dollar. The 1.25 level has offered significant support multiple times, and it looks as if we are rallying away from that level. The 50 Day EMA above is offering a bit of dynamic resistance, and it has broken down below the 200 Day EMA. That being said, this is a range-bound market so, therefore, moving averages do not mean too much. Looking at this chart, the market continues to see a lot of noisy behavior, as is clearly defined by the floor at the 1.25 level, and the ceiling at the 1.2850 level. Ultimately, this is a market that I think continues to go back and forth over the longer term, and perhaps on the whims of the crude oil market. Remember that the Canadian dollar is highly levered to the crude oil market, which is in the process of breaking down. If that continues, then I anticipate that the US dollar will rally from here and eventually make its way to the top of the rectangle that I have marked on the chart. On the downside, if we do pull back from here, I think there is plenty of support at the 1.25 level to keep the market afloat. In fact, we have already tried to break the market down below there more than once, both times ending up in significant hammers. As long as that is going to be the case, it looks as if there are a lot of defenders in that general vicinity, and therefore a breach of the hammer from the Tuesday session would be a very negative turn of events, wiping out the 1.24 handle, an opening up a move down to the 1.22 level. Keep in mind that this pair does tend to be very choppy in general, as the United States and Canada do so much cross-border business. Ultimately, this is a market that I think continues to see a lot of back and forth, but it does look like we are trying to find some type of reconciliation to the upside. I do not necessarily see that this market could break out above, but that could be an argument to be made on longer-term charts. In the short term, it is going to be very choppy with an upward tilt.
Long
by SmoothJB
USDCAD - FUNDAMENTAS WITH TECHNICAL LEVELS⛔️ USD does not have such important indicator data to release today. But the most important LABOR DATA for CAD is due out today. It will be released during the NEWYORK SESSION. Most likely it will be POSITIVE. We are waiting. ⛔️ DXY is currently at 98.83 LEVEL. USD has been WEAK for the last few days. But after the FOMC, the USD got a slight POSITIVE SENTIMENT. Also, the CAD FEATURE is down to 0.7946 LEVEL. However, CAD is becoming WEAK relative to DXY due to being OIL DOWN. The USDCAD PRICE looks like it's moving towards DYNAMIC S / R LEVELS. ⛔️ Currently the SENTIMENT of the OVERALL MARKET is being POSITIVE. Also, even though the EQUITIES are turning a bit red, we are not affected by the VOLATILITY DOWN. Also COMMODITIES still shows a UP SIDE BIAS. There is a NEUTRAL BIAS currently on the market. We can not say for sure whether the MARKET SENTIMENT is UP or DOWN. But according to the data we have received so far we can say that MARKETS RISK is turning ON. ⛔️ OIL PRICE is currently down a bit. It will inevitably affect CAD. But the TECHNICALLY USDCAD can go to the SELL a bit faster in the next few days because a RESISTANCE has a PRICE and is RISK ON. ⛔️ USDCAD PRICE can be UP to LEVEL 1.2656 before DOWN. Then the USDCAD PRICE can be down again up to 1.2415 LEVEL. The USD could be a bit WEAK in the coming days due to the MARKET SENTIMENT. The OIL PRICE applies to USDCAD, and the decisions made at OPEC MEETING will have the greatest impact on USDCAD.
by benny_marshall
USDCAD - OIL , U.S ECONOMIC DATA WITH TECHNICAL LEVELS- This week is also a very important week for USD. That's because the US Federal Reserve has called a meeting this week. It will discuss changes to be made in the coming quarter. Also important are ISM Services PMI, FOMC Member Brainard Speaks, Crude Oil Inventories, FOMC Meeting Minutes, Unemployment Claims, FOMC Member Bullard Speaks DATA and EVENTS. - DXY is currently at 98.89 LEVEL. USD has been WEAK for the last few days. Also the CAD FEATURE has been UP up to 0.8025 LEVEL. However, CAD is becoming STRONG relative to DXY due to being OIL UP. USDCAD PRICE is moving below DYNAMIC S / R LEVELS. - Currently the SENTIMENT of the OVERALL MARKET is NEUTRAL. Also the EQUITIES are turning a bit red. VIX is getting a bit UP. Also COMMODITIES still shows a UP SIDE BIAS. There is a NEUTRAL BIAS currently on the market. We can not say for sure whether the MARKET SENTIMENT is UP or DOWN. - OIL PRICE is currently slightly UP. It will inevitably affect CAD. But TECHNICALLY USDCAD can go to the BUY a bit sooner in the next few days. - USDCAD PRICE can go to 1.2415 LEVEL before UP. Then the USDCAD PRICE can be UP again up to 1.2656 LEVEL. The USD may be slightly STRONG in the coming days due to the MARKET SENTIMENT. The OIL PRICE applies to USDCAD, and the decisions made at OPEC MEETING will have the greatest impact on USDCAD.
by benny_marshall
USDCAD LONGUSDCAD - new forecast (nr1) ➖➖➖➖➖➖➖➖➖➖➖➖ This is my expectation on USDCAD this week, i think from next week we will see a bullish trend. Now price had dropped to a strong support level @ 1.24750 where it will stay this week. Best buy scenario is to wait for price to settle around support level @ 1.24750 before going long on this pair. Hopefully we will have a bull chart this months and a good algo trade. ➖➖➖➖➖➖➖➖➖➖➖➖ This is just a note for myself for the next coming week, updates will come along daily. ➖➖➖➖➖➖➖➖➖➖➖➖ Please use small lots if you gonna trade on this idea! ➖➖➖➖➖➖➖➖➖➖➖➖ Please like, comment and share if you like my idea. ➖➖➖➖➖➖➖➖➖➖➖➖
Long
by pmfxtrade
USDCAD LONG - Buy Entry - H4 ChartUSDCAD LONG - Buy Entry - H4 Chart Buy @ Market Symbol: USDCAD Timeframe: H4 Type: BUY Entry Price: Buy @ Market Resistance @ 1.29439 Resistance @ 1.28315 Resistance @ 1.26605 Resistance @ 1.25930 Support @ 1.24867 Support @ 1.24557 ✅ If you liked this analysis, please consider Following and giving it a Thumbs Up 👍 ✅ If you have any feedback or questions, please leave a comment below as I answer each comment 💬 ✅ Wishing you enjoyable successful trading 🙏
ULong
by UnknownUnicorn35780991
USDCAD - OIL , U.S ECONOMIC DATA WITH TECHNICAL LEVELS- Some of the most important data for USD will be released this week. Among them, JOLTS job openings, CB consumer confidence, ADP - non farm employment change, FINAL GDP q / q, crude oil inventories, Core pce price index, ism manufacturing index, NFP are the most important DATA. - The OPEC MEETING is scheduled for this week. Also important indicator data for CAD, GDP, MANUFACTURING PMI, is due to be released this Friday. - DXY is currently at 97.85 LEVEL. USD has been WEAK for the last few days. Also, the CAD FEATURE has been down to 0.7986 LEVEL. However, CAD is becoming WEAK compared to DXY due to OIL WEAKNESS. USDCAD PRICE is TUCHING IN DYNAMIC S / R LEVELS. - Currently we see the OVERALL MARKET RISK OFF. Also STOKES are getting RED. VIX UP is becoming. Also COMMODITIES are starting to DOWN right now. - OIL PRICE is currently down a bit. It will inevitably affect CAD. If so, USDCAD could be moving to the BUY in the next few days. - USDCAD PRICE can go to 1.2466 LEVEL before UP. Then the USDCAD PRICE can be UP again up to 1.2656 LEVEL. The USD may be slightly STRONG in the coming days due to the MARKET SENTIMENT. The OIL PRICE applies to USDCAD, and the decisions made at OPEC MEETING will have the greatest impact on USDCAD.
by benny_marshall