DeGRAM | USDCAD consolidating before breakoutUSDCAD is currently trading in an ascending channel.
The market created a consolidation zone or triangle pattern.
Essentially, the price is coiling up before breaking through the level.
We anticipate a retest of the major resistance in anticipation of completing the AB=CD pattern.
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Usdcadsignal
USDCAD Long Term BUYING Trading IdeaHello Traders
In This Chart USDCAD HOURLY Forex Forecast By FOREX PLANET
today USDCAD analysis 👆
🟢This Chart includes_ (USDCAD market update)
🟢What is The Next Opportunity on USDCAD Market
🟢how to Enter to the Valid Entry With Assurance Profit
This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Charts
USD/CAD Surges Amid a Robust US Dollar and Softening Oil PricesThe USD/CAD pair witnessed a surge amid a resilient US Dollar and dropping oil prices. The Canadian Dollar was impacted by weak employment figures and the decline in oil prices, a crucial export product. Meanwhile, the US is bracing for persistent inflation, with headline and core CPI remaining steady. The financial landscape is further complicated by potential policy shifts by central banks. Both nations' economic health indicators paint a complex picture that drives the USD/CAD dynamics.
TRADE IDEA DETAILS
CURRENCY PAIR: USD/CAD
CURRENT TREND: Upward due to USD resilience and weakened Canadian Dollar (CAD) from declining oil prices
TRADE SIGNAL: Buy
👉ENTRY PRICE: 1.3475
✅TAKE PROFIT: 1.3575 (Potential 100 pips gain targeting the next psychological resistance level)
❌STOP LOSS: 1.3425 (A 50 pips risk if the USD loses strength or Canadian economic outlook improves)
ANALYSIS:
USD Strength:
USD's strength is apparent due to expected stubbornness in US inflation, which may hint at a Federal Reserve interest rate hike.
CAD Weakness:
The softening oil market and weak labor data in Canada exert downward pressure on CAD.
Market Sentiment:
Bearish sentiments in the US equities and S&P 500 futures may continue to feed into USD's resilience.
Technical Indicators:
The currency pair is at a critical level, and the upward trend seems to have room to continue, given the current economic indicators.
FINAL THOUGHTS:
This trade idea is based on current economic indicators and market sentiment, favoring a short-term upward trend in the USD/CAD pair. As with all trading activities, continued vigilance and adherence to risk management strategies are essential.
USDCAD Analysis 30July2023The possibility of a significant movement in the next few days for this pair. If you look a week ago this pair is more likely to accumulate with a structure like sideways. I am still sure that there is an opportunity to be limited to the SND D1 area below before this pair returns to bullish.
DeGRAM | USDCAD break and close above the strong levelUSDCAD is currently trading in an ascending channel.
The market made higher highs and higher closes. It broke and closed above the resistance that was tested twice.
Price is coiling up before breaking through the level. We anticipate a retest of the major resistance and bullish move.
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USDCAD Top-down analysisHello traders, this is a complete multiple timeframe analysis of this pair. We see could find significant trading opportunities as per analysis upon price action confirmation we may take this trade. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
DeGRAM | USDCAD divergence at the strong supportUSDCAD decelerated while approaching support, then bounced off it following the divergence.
Price bounced off the psychological level of 1.31000. If you look left, the last time the price dropped from the resistance, it pulled back after the divergence.
We anticipate the same price action and a retest of the resistance.
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DeGRAM | USDCAD at strong supportUSDCAD is currently trading in an ascending channel.
The market broke and closed above the consolidation zone.
Price pulled back to the kill zone: support at 1.32500 and 50% fibo retreatment.
We anticipate a retest of the major resistance.
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USDCAD Analysis 9July2023on this fibo extension, it looks like wave a = wave c. when wave c has the same length as wave a and there is a correction, there is a possibility that this correction will approach the invalid area. if you want to go long, it is better to wait for a saturated candle in the SnD area.