usdcad short positionusdcad have a massive demand zone up ahead and I believe there is a good chance to take a r/r=3 or more from this short position.
Usdcadshort
USDCAD 4HR MOVEMENTLower highs and lower lows, potentially making a lower high since it broke the counter trendline on the 1 hour time frame. So now we are expecting price to continue it's way down.
Bearish Outlook on USDCAD - 5 May 2023Price broke below a key resistance-turned-support zone at 1.3520 on the D1 timeframe. A pullback to this zone, which is in line with the 78.6% Fibonacci extension level, could provide the bearish acceleration to the next support zone at 1.3320, which coincides with the 261.8% Fibonacci extension. Price is holding below the 20 EMA and Ichimoku cloud, supporting our bearish bias.
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
USD CAD 1. Double top being formed indicating a trend reversal.
2. Divergence on RSI
3. Lower High and Lower low being formed
4. Bearish Candle ,which could lead to another higher low
When to enter?
We can short the pair , once the price breaks the neck line.
usdcad shortwelcome
here is my usdcad idea
its based on
market bullish on higher tf like m, w, d
will we see a retest of weekly pivot area
im thankful to see how this setup plays out
USDCAD H4 2may2023This analysis is for intraday only, it looks like the temporary movement is bearish, we can take advantage of the retracement movement
W10-8 USDCAD BEARISH IDEApotential bearish entry
Dow Theory in Place: Lower High and Lower Low Expected in Place
The double top, coupled with bearish divergence (a bearish reversal pattern), breaks out the neckline at 1.35899.
The price action is forming a bearish flag, and it is expected that the price action will continue the bearish trend.
Entry, SL, and TP levels are defined.
USDCAD Chart Analysis for 1-5 May 23USDCAD upcoming week Technical Forecast as FOMC on the way to hit market, so follow money management properly
GOOD LUCK !
USDCAD SellOn Friday USD showed weakness while in other hand Canadian Dollar showed much strength. I think CAD will remain strong in next week against the USD.
USDCAD - Short#USDCAD in H4 Time Frame Setup
If the price of USDCAD breaks below the trend line, it could indicate a bearish trend and present a selling opportunity. Alternatively, if the price does not break below the trend line, it may be best to wait for further market updates and watch for a potential breakout. Remember to always practice risk management and have a clear trading plan in place before making any trades.
USDCAD IS AT STRONG RESISTANCEUsdcad is now at strong horizontal resistance and here is a sell trend line also.
If market reject from here you can sell with small SL.
If market break and close above on resistance this setup will fail.
If you like this idea kindly appreciate with like button
USDCAD 4hr TF After an uncorrected 350 pips rise, a pullback is necessary for USDCAD to swing bullish and surpass recent highs of 1.38060. I anticipate that the currency pair will react in the 1.36654 - 1.36844 area, which I find to be of high interest. Within 12 days, USDCAD has increased by 2.63%, but I am expecting a 1% pullback before it moves higher.
Several confluences, including the structure, decline trend line, incline trend line, and reversal point, suggest that USDCAD will hit the area of interest within the next two trading days. Furthermore, I anticipate a bullish -0.27 target Fib.
USDCAD - Trend Reversal - 1H TFBased on the Relative Strength Index (RSI) indicator, there is currently a divergence present. Once the first LL (lower low) is broken, it would confirm the formation of a bearish trend. I plan to enter a short trade with a 1:1 risk/reward ratio.
Please note that this is my personal analysis and trade plan, and it is important for you to conduct your own research and risk management strategies before making any trading decisions.
usdcad short positionit looks like cad is gonna have a good short here, I'm thinking about is this demand zone can reverse the trend or not but there will be a good short position until next demand zone (light blue box)
Double Top in USDCAD may reverse the trend to bearishDouble Top in USDCAD in H1 timeframe along with bearish divergence may reverse the trend from bullish to bearish if it breaks support level of 1.352
USDCAD IN HIGH SUPPLYThis is just an analysis. If you feel it helps you and this analysis is correct, you can enter the trade at your own discretion with the appropriate volume and SL.
Expect a head and shoulders pattern ON USDCAD ON USDCAD
We expect a head and shoulders pattern, activating the decline, and direct entry of sellers
ENTER NOW OR 1.3566
SL 1.3582
TP 1.3438
USDCAD SHORTA possible retrace on 2 hour supply, sweeping all internal liquidities then proceed to sweep external liquidities down to 1.30494 demand area.
USDCAD - Long from bullish order block ✅Hello traders!
‼️ This is my perspective on USDCAD.
Technical analysis: Here I am looking for a long position as we are in a bullish market structure on daily. My point of interest is bullish order block and imbalance filled after price took sell stop liquidity. Then I will look for a confirmation on lower timeframe.
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USDCAD H1 Short Hi
USDCAD IN Supply Area
Entry:1.34690
SL:1.34899
TP:1.34067
RR= 1:3
if You like Support & Share
USDCAD SHORTWe can see the chart tells that it is in downside momentum. Now, the is a 3-hour supply area that can be a possible area for another short entry between 1.34289 to 1.34397. Then goes down to the daily demand at the bottom.
