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Usdcadsetup

USDCAD TrendThe loonie-dollar pair had risen to its highest level in a month the day before, as the US dollar's safe-haven demand was bolstered by a broad risk-off mindset. Concerns about the upcoming federal elections in Canada, as well as low prices for Ontario's principal export, oil, ran parallel. It should be mentioned that rumors that a senior US Senator, Joe Manchin, has pushed out President Joe Biden's $3.0 trillion stimulus negotiations to2022, combined with uncertainties about the debt limit increase, have added to the risk appetite's downside pressure. Janet Yellen, the US Treasury Secretary, has called for another extension of the limitations. Moving forward, early election results and risk catalysts are likely to remain the focus, but second-tier housing data from the United States may potentially entice USD/CAD traders.
Short
by meelbijendra
USDCAD My Prophecy has happened !!Hello everyone, as we all know the market action discounts everything :) _________________________________Make sure to Like and Follow if you like the idea_________________________________ On July 20 I posted my analysis on the market and told u that a cup and handle pattern has formed and the market is looking Bullish Then on the 2nd of September, i posted an idea about how the market will probably move for the next period of time, and Today we see that the market moved exactly like I said it would ..... Today The USD/CAD pair added to its strong intraday gains and climbed to one-month tops, further beyond the 1.2800 mark heading into the European session. The market is still showing Bullish signs all over, and if we use the Elliot wave theory we see that we are having an impulsive wave right now that could push the market to the 1.3002 level. Scenario : The market is getting close to the first resistance line at 1.2826 where a battle between the Bears and Bulls will happen and the outcome will probably be in favor of the Bulls. if the price breakout that line then the trend will go on and that which give us a good confirmation that the movement will be headed to the 1.3002 level soon. Technical indicators show : 1) The market is above the 5 10 20 50 100 and 200 MA and EMA (Strong Bullish sign) 2) The RSI is at 63.07 showing Great strength in the market, No divergences were found between the market and the indicator 3) The ADX is at 18.45 showing that the market is gaining more strength but it didn't reach the trending phase yet. A positive crossover is happening between DI+ (28.32) and DI- (14.76) Daily Support and Resistance : support Resistance 1) 1.2759 1) 1.2777 2) 1.2751 2) 1.2787 3) 1.2741 3) 1.2795 Weekly Support and Resistance : support Resistance 1) 1.2651 1) 1.2826 2) 1.2537 2) 1.2887 3) 1.2475 3) 1.3002 Fundamental point of view : The USD/CAD returned to its best level in a month as markets anticipate the Federal Reserve will confirm that a bond taper is planned this year and the close Canadian election is not expected to produce any major policy shift, whatever its political result. That promise of higher US interest rates has been the main support for the US dollar over the past month. Canadian inflation was slightly higher in August than expected though the Bank of Canada core rate was a bit lower than forecast, though it increased over July. In the US, the Consumer Price Index for August showed the first indication that price increases may be slackening. Retail Sales in August rebounded smartly from their decline the month before. Polls for Canada’s federal election on Monday between Prime Minister Justin Trudeau’s Liberals and the Conservatives of Erin O’Toole show neither party winning an outright majority in the 338-seat parliament. According to FXstreet This is my personal opinion done with technical analysis of the market price and research online from Fundamental Analysts and News for The Fundamental point of view, not financial advice. If you have any questions please ask and have a great day !! Thank you for reading.
Long
by GabiDahduh
LONG USDCADLONG USDCAD @ 1.2595 TP @ 1.28 SL @ 1.25 USDCAD testing the upward trend line and fibbo support around 1.2588. I have therefore bought some around that lvl as I expect it to rip from here. We have the Jackson Hole meeting on Friday where I feel that the it will either be neutral or bullish for the USD. I don't expect a dovish meeting. So therefore its best to go into this scenario with a bit of risk so that if USD rallies, we are already in the trade however if its neutral, we have some more time to re think and assess what we want to do. This trade offers over 2:1 R/R Good luck!
Long
by WhosPipsAreTheseAnyway
1
USDCAD | The best area to start the uptrend🏹Hello traders, Symbol USDCAD ,This analysis has been prepared in a weekly time frame but has been published for a better view in a 2 week time frame. Our goal in this analysis is to give you an overview of the future of symbolism. As you can see in the chart, this symbol has been analyzed and examined from 1979 until today and is predicted until 2027. Based on the wave count we did in the weekly timeframe, we first identified a 5-wave cycle and then a relatively short correction in terms of price and time. After completing this correction, a new 5-wave trend in the form of a triangle has started again. In this leading wave, waves 1, 2 and 3 are complete and now we are waiting for the completion of wave 4, we expect wave 4 to form at the bottom of the channel (Fibo 0.50) but we can also expect a deeper correction (Fibo 0.618). After the end of wave 4, we are waiting for the beginning of wave 5, and the best confirmation for the beginning of wave 5 is the price crossing the midline of the channel or the pink trend line of the channel floor. If the price crosses Fibonacci 0.618, this analysis will not lose its validity and we should expect a further rise. 🙏If you have an idea that helps me provide a better analysis, I will be happy to write in the comments🙏 ❤️Please, support this idea with a like and comment!❤️
Long
by TajereBartarFX
Monday: USDCAD - Week 32Hello Traders! Check Related Idea for market context!! I will update my idea as the trade progresses if any changes occur and my analysis is wrong, or need to be adapted to the new development of price-action. Thanks for the support! ----------------------------------------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------------------------------------- SMASH that follow button! 👍 💡 Leave a comment and/or message me on how I can improve and provide better content, I'm open to suggestions to create a better experience for you! RISK DISCLAIMER: Please be advised that I am not telling anyone how to spend or invest their money. Take all of my videos as my own opinion, as entertainment, and at your own risk. I assume no responsibility or liability for any errors or omissions in the content of this channel. This content is for educational purposes only and is not tax, legal, financial, or professional advice. Any action you take on the information in this video is strictly at your own risk. We, therefore, recommend that you contact a personal financial advisor before carrying out specific transactions and investments. There is a very high degree of risk involved in trading. Past results are not indicative of future returns. Inotfancy.com and all individuals affiliated with this channel assume no responsibility for your trading and investment results.
Long
by INotFancy
Thursday: USDCAD - Week 31Hello Traders! Check Related Idea for market context!! I will update my idea as the trade progresses if any changes occur and my analysis is wrong, or need to be adapted to the new development of price-action. Thanks for the support! ----------------------------------------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------------------------------------- SMASH that follow button! 👍 💡 Leave a comment and/or message me on how I can improve and provide better content, I'm open to suggestions to create a better experience for you! RISK DISCLAIMER: Please be advised that I am not telling anyone how to spend or invest their money. Take all of my videos as my own opinion, as entertainment, and at your own risk. I assume no responsibility or liability for any errors or omissions in the content of this channel. This content is for educational purposes only and is not tax, legal, financial, or professional advice. Any action you take on the information in this video is strictly at your own risk. We, therefore, recommend that you contact a personal financial advisor before carrying out specific transactions and investments. There is a very high degree of risk involved in trading. Past results are not indicative of future returns. Inotfancy.com and all individuals affiliated with this channel assume no responsibility for your trading and investment results.
Long
by INotFancy
1
USDCAD AnalysisLooking at the weekly chart, UC is generally in an uptrend. We also see that price is moving between two trendlines, thus forming triangle pattern. with this pattern had been falling from mid-March until the movement came to an end when price reach the support trendline where price showed signs of a reversal. The reversal was confirmed not only by candlestick patterns but also the violation of of the bearish intra-trendline. Price did this forming a bullish cup pattern. This gives me more confluence on the the current direction of the market. We are currently in a correction phase (flag). My expectation is a continuation to the upside. But should price hold and maintain the bearish flag, my anticipation is it will drop down to the weekly Support trendline, give us a double bottom and then begin its bullish move from there. *Disclaimer* This is not financial advice. Forex trading is a risky business. Trade at your own risk. Patience and risk management are crucial. #Trade_Like_A_Magnate
Long
by Magnatrio
Tuesday: USDCAD - Week 31Hello Traders! Check Related Idea for market context!! I will update my idea as the trade progresses if any changes occur and my analysis is wrong, or need to be adapted to the new development of price-action. Thanks for the support! ----------------------------------------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------------------------------------- SMASH that follow button! 👍 💡 Leave a comment and/or message me on how I can improve and provide better content, I'm open to suggestions to create a better experience for you! RISK DISCLAIMER: Please be advised that I am not telling anyone how to spend or invest their money. Take all of my videos as my own opinion, as entertainment, and at your own risk. I assume no responsibility or liability for any errors or omissions in the content of this channel. This content is for educational purposes only and is not tax, legal, financial, or professional advice. Any action you take on the information in this video is strictly at your own risk. We, therefore, recommend that you contact a personal financial advisor before carrying out specific transactions and investments. There is a very high degree of risk involved in trading. Past results are not indicative of future returns. Inotfancy.com and all individuals affiliated with this channel assume no responsibility for your trading and investment results.
Long
by INotFancy
1