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Usdcadshort

Battle of the Bankers: USD/CAD in FocusThe USD/CAD might be a popular pair to trade this week with the Bank of Canada (BoC) releasing its latest interest rate decision at the exact same time that US Federal Reserve Chairman begins the second day of his Semiannual Monetary Policy Report to Congress. These events coincide at 10am Wednesday (EST). The Bank of Canada is expected to maintain its interest rate at 4.50%. In its previous meeting, the Bank announced its eighth consecutive rate increase but also mentioned that it would take a break to observe the economy's response to higher borrowing costs. The Bank stated that it plans to keep the policy rate at its current level while assessing the effects of the cumulative rate hikes if economic developments align with the Monetary Policy Report outlook. However, this pause is subject to change, and the strong job numbers for January, which indicated the addition of 150,000 jobs, as well as resilient consumer spending could persuade the Bank to opt for a rate hike instead of a pause. If the BoC fails to surprise, it might be what it signals for its meeting next month that becomes the more interesting focal point on Wednesday. Jerome Powell, the US Federal Reserve Chair, is scheduled to testify before the Senate Banking Committee and House Financial Services Committee on Tuesday and Wednesday morning. During these hearings, he is expected to face tough questions regarding inflation and potential future interest rate increases. This will be Powell's initial testimony since the Republican Party gained control of the House. Furthermore, on Friday, the February US Non-Farm Payrolls report is predicted to reveal the creation of 200,000 jobs in the previous month. This marks a deceleration in job growth compared to January's surprising surge, which added 517,000 jobs to the economy in the first month of the year.
by BlackBull_Markets
USDCAD Study Case 🧙‍♂️Intuition suggests price is likely to flow back up to the main weekly supply to clear out seller liquidity. How we will get to that zone is another story. I don't think we will push up to the zone from here. I believe price has lured buyers in after breaking the trendline marked. So price is likely to do some manipulation to clear breakout buyers before flowing to our target. I have done a rough illustration of what I am after but we will have to judge it as the price progresses. I am wishing you all a fantastic trading week team!
Long
by AlkalineFX
9
USDCADHi guys!" USDCAD has been examined in different dimensions: 1- Strong supply and demand levels that I identify with my own indicator and system. 2- The structure of recently formed waves 3- Current market momentum 4- The structure of classical and price patterns In this idea, I identified the direction of the market in different ways and in the second step, I analyzed the potential of continuation or reversal. Usually, paying attention to the trend and strength of the trend can greatly increase the accuracy of the analysis. In general, I tried to describe the continuation of the movement in the simplest possible way in the diagram. ⚠️ Disclaimer: This is a personal opinion and you are responsible for any trading decisions.
Short
by HamidRamezani1992
NAFTA vs. the EU; A "generational" Long! (but wait for it!)OK, so the CAD/HUF is not the most liquid of pairs - although quite tradable -, it is the pair which best expresses the upcoming abyss, the EU as a whole staring into. As for conviction; I owned some real estate all over the EU (not that I cared for them, too much. It was just a good price at the time.) BUT I've completed dumping them all - about 4 months ago. The funds raised by those sales are about to be dumped into this upcoming Long. This is just my personal take on it but I also feel very comfortable with this trade setup, including for the (very) long term. Here, the idea is, to go long the strongest NAFTA components vs. the weakest EU component. Everything that could be said about the Loonie and the HU Forint has been already said in previous posts - attached - thus, the only thing left here is to execute at the right time - clearly depicted on the main chart! The Monthly;
Long
by Nemo_Confidat
3
USDCAD After the break of the triangle, we can now expect two targets in the ranges of 1.37496 and 1.38591. Before that, we must be careful that we have the range of 1.36995, the static resistance of the pattern, which must be broken. After that, it is very easy to reach the first target, but to reach the second target, we have 2 resistances based on the pivot points in the ranges of 1.37810 and 1.38185, which can be a reason to build a resistance range between the two harmonic targets. .
by maryammh
4
USDCAD (incl. all major CAD pairs) - Short; (very) Bearish!As a dyed-in-the-wool USD bull,(as of late) I've been fighting the urge to load up on the Loonie. - But I'm weak, so I fold. I also can't overlook the mounting evidence. All the planets are on their way for a (almost) perfect alignment for the Loonie; - It's been way oversold since the second half of 2022 (because of the rate hike pause by the BoC); - It is nearly impossible to make a case for anything other than one of (if not the") shallowest upcoming recession in the Western Hemisphere; - Their NATO role is "limited" - to put it mildly - and if anything that far away money pit (Ukraine) is filled by EUR & USD mostly, the least of all CAD; (If anything, the war may wake up Canada to at least start questioning their NATO membership role, all together - as it is even more pointless than it's ever been. (Who, and How, exactly is going to invade Canada?? ...) - Energy will continue to play a central role in world affairs; - It's a big place with few people, who have lots of stuff - including an idiotic central leadership, like Norway; (In politics, "The Greens" are like a watermelon; Green on the outside but red on the inside.) E.g., Long everything CAD, Short all else - for the foreseeable future.
Short
by Nemo_Confidat
USDCAD 3H: 21/02/2023: Short opportunity Daily TA: Well, you can see all the information on the chart. If you have questions feel free to ask. 💥💥💥Important note: At first I should mention that it's not investment advice then as you know, today's CPI for Canada will be published so it's a high-risk trade, and as always we need a low time frame confirmation. Last but not least, if you look at daily TA you can see price can move higher and then fall. So be aware!💥💥💥
Short
by VahidTradingCR
5