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Usdcadshort

USDCAD !!! 31/1/24 TREND DOWN ! SELL NOW ⭐️ Smart investment, Strong finance ⭐️ USDCAD INFORMATION: During the early Asian session on Wednesday, the USD/CAD pair ends its four-day losing streak. The recovery of the pair is supported by positive US job openings and consumer confidence data, which contribute to the strengthening of the US dollar (USD). The focus is now on the Federal Reserve (Fed) monetary policy meeting scheduled for Wednesday, where no changes in interest rates are expected. Currently, USD/CAD is trading at 1.3405, showing a 0.04% gain for the day. Unexpectedly, the number of available jobs in the US increased in December to 9.026 million, as reported by the Bureau of Labor Statistics on Tuesday. This marks the first time that job openings have surpassed 9 million since September. In addition, the Conference Board Consumer Confidence index rose to 114.8 in January, compared to the previous reading of 108.0, reaching its highest level in two years. ⭐️ Personal comments NOVA: The long-term price range is still in a DOWN trend, the next bottom is gradually lower than the previous bottom. Touching the trendline sets up a SELL signal. CAD economic data also does not have much important information ⭐️ SET UP PRICE: 🔥SELL USDCAD zone: 1.34200 - 1.34350 SL 1.34800 TP1: 1.33900 TP2: 1.33600 TP3: 1.33300 ⭐️ Technical analysis: Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable SELL order. ⭐️ NOTE: Note: Nova wishes traders to manage their capital well - take the number of lots that match your capital - Takeprofit equal to 4-6% of capital account - Stoplose equal to 2-3% of capital account - The winner is the one who sticks with the market the longest
Short
by Nova-Scalper
4
USDCAD 4 HR | Bearish Trend ContinuationUSDCAD could fall 138 pips if it can stay below 1.35342 Why 1.35342? Let's just round it and say $1.353 Canadian dollar. The exchange price for the United States Dollar is decreasing which means Canadians are able to buy the Dollar at a cheaper price. Evidence High(H) & Low(L) Per the 4 our timeframe, price is declining. The current falling price of the Dollar price per the Canadian Dollar has been 1.34152(L), 1.35342(H), and 1.34136(L). We can see the high and low prices are decreasing hence what is called LOWER LOWs and LOWER HIGHs. Actions The best action to take is to sell since currently the trend is down. That is what the chart per this timeframe is showing. The best price to sell below as stated above is 1.35342. The entry price is between 1.35207 and 1.35342. This range equates to 13 pips. This means if you enter at market order, you can wait for price to enter the range and provide evidence price can decrease. Or, if you set a pending order , you can set a pending order at 1.35207 with a TP down to the low or further. Why do I believe price can fall 138 pips? This is a Reward to risk drop from the pending order price of 1.35207 based on my stop loss placement. Sidenote: Your Reward to Risk will vary from mine analyzing this trade using your own risk management strategy and trading plan. What can invalidate this trade? If price pushes higher than 1.35342, showing evidence buyers have taken control, the trade in invalidated. Or, price could continue to drop from here which means we'd have to update the sell idea. What would this mean? If you entered the trade and price went higher than 1.35342 you'd be stopped out. However, if price were to continue lower without pushing past the highs, you'd be in profit. Should you trade this? If this fits how you trade, yes. If not no. Let's keep it that simple. I hope you enjoyed this analysis. Like this post and share it if you did.😁 Many blessings, Shaquan
Short
by ShaquanLopez
USDCAD Sell IdeaHey guys! its your girl forex potatoe. Here we are again with our trade idea for today. USDCAD is currently in a downtrend in 4H Timeframe, 1H and we can see the momentum is shifting from bullish to bearish in the 30 Mins and 15 mins Timeframe in the direction of 4H TF. At the resistance, trendline as been broken and a head and shoulder formed now on the 1H signaling a weakness. My 50 EMA is also broken in the 15Min TF hence a signal to go short. A bearish engulfing close on the 4H has been formed multiple times so entries can be around this area or you can be more conservative and wait for more confirmations. Price is currently in a fibonacci discounted price so enough confluences to take a short If you like this sorta content, Kindly follow me, hit the boost button and let me know your thoughts on this Pair for the week.
Short
by ForexPotatoe
USDCAD ON DAILY BEARISH !!!HELLO FRIENDS As I can see USDCAD is trading inside a bearish channel and already created a fakeout now its testing channel border line can create double top on smaller TF which will indicate to enter in a sell entry our risk and rewards are fantastic on this pair let stay as a sniper when it come in our range we will enter and will hold till design level friends its just an trade idea we are looking for ur help and support on this pair share ur views with us in comment it will help many other traders
Short
by APEX_TRADING_ACADMEY