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Usdcadshort

USDCAD: US Dollar's position as the primary global reserve curreThe Return of the Sellers Over the past two decades, the US Dollar's market share has declined from 71 percent to 59 percent, and it may continue to reduce further in the future. This has a negative impact on the United States since global currency usage is a zero-sum game. When other currencies like Yuan, real, or Rupee are used in global trade, the US Dollar is left out. If other currencies gain more prominence, it may compromise America's dominance in the global market.
Short
by Jiren-SphynChannels
USDCAD 1.34943 -0.06% LONG IDEA 📈💡🐮HELLO EVERYONE HOPE EVERYONE IS DOING GOOD. * Looking at USD/CAD in the coming week 1. Closed the week range bound on the Dollar/CAD. 2. Looking for some Liquidity runs to get some directional perspective. 3. Should we break above looking for short entries towards sell side. 4. Looking to fill some gaps below . lets see how it goes. IF THIS IDEA ASSISTS IN ANY OR IF YOU LIKE THIS ONE SMASH THAT LIKE BUTTON & LEAVE A COMMENT. ALWAYS APPRECIATED ____________________________________________________________________________________________________________________ * Kindly follow your entry rules on entries & stops. |* Some of The idea's may be predictive yet are not financial advice or signals. | *Trading plans can change at anytime reactive to the market. | * Many stars must align with the plan before executing the trade, kindly follow your rules & RISK MANAGEMENT. _____________________________________________________________________________________________________________________ | * ENTRY & SL -KINDLY FOLLOW YOUR RULES | * RISK-MANAGEMENT | *PERIOD - I TAKE MY TRADES ON A INTRA DAY SESSIONS BASIS THIS IS NOT FINACIAL ADVICE TO EXCECUTE ❤ LOVELY TRADING WEEK TO YOU!
Short
by PULEMokhothu
USD/CAD Reacts to CPI, Debt Ceiling Woes Two big events affecting the USD/CAD pair include the CPI reading from Canada yesterday as well as the ongoing debt ceiling crisis in the US. In April, the monthly Canadian headline CPI surged by 0.7%, resulting in an annual rate of 4.4% compared to the previous 4.3%. This increase exceeded the consensus estimates by three-tenths of a percent in both instances. Consequently, the USD/CAD experienced a 0.4% decrease, reaching 1.3404, before rebounding to a high of 1.3535 USD/CAD has now also breached its 200-day simple moving average on the downside, closing below it to reinforce the bearish signal. Strengthening this assertion is that the Bank of Canada had recently put a halt to its tightening campaign, having raised interest rates by 425 basis points since March 2022. However, they indicated that this pause was dependent on the inflation outlook aligning with the forecasted trajectory. It is unlikely that this week's CPI data meets this requirement. Offsetting the positive news for the Canadian dollar is the prevailing optimism in the United States regarding the government's ability to avoid defaulting on its debt. Following emergency discussions at the White House, President Joe Biden and Republican leaders cautiously expressed hope for a potential agreement to raise the US debt ceiling. The agreement must be reached and approved by both houses of Congress before the federal government exhausts its funds to cover expenses, which could occur as soon as June 1 (only two weeks away). Despite House of Representatives Speaker Kevin McCarthy stating that the two parties remain considerably apart, he believes that a deal could be achieved by the end of the current week.
by BlackBull_Markets
USDCAD: Nice entry for Buy-er!Fundamental Overview If the Federal Reserve meeting were held today, it is likely that they would maintain the current interest rates due to the ongoing uncertainty surrounding the banking sector. However, it's important to note that market conditions can change rapidly. If the upcoming weekend remains stable without any urgent need to rescue failing banks, there is a good chance of a 25 basis points rate hike. The Federal Reserve tends to increase rates until economic instabilities arise. In the case of only SVB, persistently high inflation could trigger further rate hikes. This would result in a stronger US Dollar, which could eventually lead to a decline in stock markets once the relief rally surrounding no new bank failures subsides. Plan trade in the intro
Long
by Sphyn-Trader
CAD CPI could trigger next wave downThe previous CAD CPI data marked a significant turning point, with CAD having a 2 week hangover and the basket of major currencies getting a wild ride against the weakened CAD. Could we see the opposite this time around? USD is seeing significant strength against the basket but is starting to look ripe for a pullback. If we see another strong day for USD on monday, pushing USDCAD into the cluster of pre vious activity between 1.36000 - 1.36500, we could be primed for a significant pullback in USD strength and the CAD CPI might just be the catalyst for a major leg down to back below 1.34500. Of course, don't trade blindly, wait to see if the setup occurs, see the CPI numbers and how the market reacts. This is a very specific scenario, but if we are in that 1.36000 range when the numbers are released Tuesday, I'll be very quick to enter short if the market sees intraday downside momentum.
Short
by HayeTrading
6
USD/CAD moves to daily low: Ivey PMI retreats less than expectedThe Ivey Purchasing Managers Index (PMI) in Canada, which measures the month-to-month variation in economic activity, dropped to 56.8 (seasonally adjusted) in April from 58.2 in March. However, this was a smaller drop than the market had expected, with the consensus forecast at 54.8. Following the release of the data, USD/CAD initially moved towards daily lows but later largely ignored the figures. The pair was last seen trading modestly higher on the day at 1.3615. However, the USD/CAD is still in a bearish trend, and the recent price action suggests that the pair could resume its decline. Furthermore, the USD Index is trading within a tight range in the low-101.00s, and the loss of 101.00 could expose a move to the year-to-date low. TRADE IDEA DETAILS CURRENCY PAIR: #USDCAD CURRENT TREND: Bearish TRADE SIGNAL: ↘️Sell 👉ENTRY PRICE: 1.3590 ✅TAKE PROFIT: 1.3470 ❌STOP LOSS: 1.3660 This bearish outlook for the USD Index could also put downward pressure on the USD/CAD pair. Therefore, a sell signal is recommended for the USD/CAD pair. #ForexTrading #TradeSignals #TechnicalAnalysis #RiskManagement
Short
by RichDadph-FX