USD_CAD SHORT FROM RESISTANCE|
✅USD_CAD is going up now
But a strong resistance level is ahead at 1.3964
Thus I am expecting a pullback
And a move down towards the target of 1.3869
SHORT🔥
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CADUSD trade ideas
Canadian dollar shrugs after mixed employment numbersThe Canadian dollar is steady on Friday, after a two-day slid in which the loonie declined by 1%. In the North American session, USD/CAD is trading at 1.3911, down 0.09% on the day. On the data calendar, Canada released the employment report and there are no US economic releases.
The April employment report didn't show much change and the Canadian dollar has shown little reaction. The economy added 7.4 thousand jobs, rebounding from the loss of 32.6 thousand in March and above the market estimate of 2.5 thousand. At the same time, the unemployment rate climbed to 6.9%, higher than the market estimate of 6.8% and above the March reading of 6.7%. This was the highest level since Nov. 2024.
The rise in unemployment is likely a reflection of the US tariffs. Canada's exports to the US were down in March, hurting businesses that export to the US. If the tariffs remain in place, weaker demand from the US could significantly damage Canada's economy.
The Bank of Canada released its Financial Stability Report on Thursday. The BoC said that the financial system was strong but warned that a prolonged trade war between Canada and the US could lead to banks cutting back on lending, which would hurt consumers and businesses and damage the economy. The report said that the unpredictibility of US trade policy could cause further market volatility and was a risk to financial stability.
The Federal Reserve maintained rates earlier this week and Fed Chair Powell said the Fed was in a wait-and-see-stance due to the uncertainty over the US tariffs. We'll hear from seven Fed members on Friday and Saturday, who may provide some insights on where rate policy is headed. The markets have priced in a rate hike in June at only 18%, down sharply from 58% a week ago.
USD/CAD is testing resistance at 1.3928. Above, there is resistance at 1.3935
1.3922 and 1.3915 are the next support levels
USDCAD – Bullish Continuation Setup potential for a second bullish leg in line with the trend. This structure suggests a classic 2-leg continuation pattern, with the current pause acting as a base before further upside.
📈 Trade Idea:
Entering a long position after confirmation of consolidation breakout, aiming for the next key resistance around 1.4075.
📊 Entry: ~1.3910
🛑 Stop Loss: Below structure (around 1.3866)
🎯 Take Profit: 1.4075
📐 Structure: Bullish flag / 2-leg pattern
USDCAD: Important Breakout 🇺🇸🇨🇦
USDCAD broke and closed above a significant daily resistance cluster.
The broken structure turns into a solid demand zone now.
The next strong resistance is 1.3957.
It will most likely be the next goal for the buyers.
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USDCAD – 15TF Technical & Fundamental AnalysisUSDCAD – 15TF Technical & Fundamental Analysis
Technical Analysis:
On the 15-minute timeframe, the USDCAD pair remains in an overall bullish structure. Price action recently tested and breached the minor resistance zone at 1.39300, which coincides with a Fair Value Gap (FVG). However, this breakout was short-lived, as price reversed sharply, indicating a possible liquidity grab and subsequently breaking below the minor support level at 1.39190—now acting as a sell-side liquidity zone.
Our short-term strategy involves closely monitoring for a bullish confirmation candle closing above the FVG, with a potential entry point near 1.39320. Stop-loss placement is advised just below the FVG, and the initial target would be the next resistance area around 1.39500. Alternatively, if the price fails to hold above the FVG and continues to break lower, we anticipate a bearish continuation toward 1.39000, aligning with the next liquidity pocket.
Fundamental Analysis:
The U.S. dollar has shown continued strength, driven by hawkish signals from the Federal Reserve. Chair Jerome Powell has indicated a wait-and-see approach regarding rate adjustments, offering no immediate relief through rate cuts. This stance, along with improved geopolitical sentiment following a U.S.–U.K. trade agreement, has bolstered investor confidence in the greenback.
In contrast, the Canadian dollar is underperforming due to rising economic headwinds and trade uncertainties. The Bank of Canada has issued caution over prolonged trade tensions, highlighting risks to financial stability and consumer debt. Furthermore, recent Canadian employment data revealed an increase in the unemployment rate from 6.7% to 6.8%, casting further doubt on short-term CAD resilience.
📌 Disclaimer:
This is not financial advice. As always, wait for proper confirmation before executing trades. Manage your risk wisely and trade what you see, not what you feel.
Bullish momentum to extend?The Loonie (USD/CAD) has reacted off the pivot and could rise to the 6.8% Fibonacci resistance.
Pivot: 1.3891
1st Support: 1.3840
1st Resistance: 1.4062
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USD-CAD Potential Short! Sell!
Hello,Traders!
USD-CAD went up sharply
And is about to hit a horizontal
Resistance of 1.3964 from
Where we will be expecting
A local bearish correction
And a local move down
Sell!
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USD/CAD Bulls Emerge at Support- Breakout ExtendsUSD/CAD rebounded off the lower parallel of the March downtrend with a breakout of the weekly opening-range extending into pivotal resistance.
Support now rests with the low-day close (LDC) / 61.8% retracement of the December 2023 advance / monthly open at 1.3778/98- a break / close below this threshold would be needed to mark downtrend resumption towards the 78.6% retracement of the September advance at 1.3714 and the March high at 1.3614 .
A topside breach above this pivot zone at the median-line exposes key resistance at 1.3977-1.4010 - a region defined by the 2022 high, the 2020 March weekly reversal close and the 200-day moving average. A close above this region would be needed to suggest a more significant low was registered this week / a larger reversal is underway with subsequent objectives eyed at the 1.41 -handle and 1.4149/78 - look for a larger reaction there IF reached.
Bottom line: A rebound off downtrend support takes USD/CAD into the topside of a multi-week range – risk of a larger recovery while above the weekly open. From a trading standpoint, losses should be limited to 1.3778 IF price is heading higher on this stretch – look for a larger reaction on test of the 200-day moving average.
-MB
Potential bullish rise?USD/CAD has reacted off the resistance level which is a pullback resistance and could potentially rise from this level to our take profit.
Entry: 1.3892
Why we like it:
There is a pullback resistance level.
Stop loss: 1.3842
Why we like it:
There is a pullback support level.
Take profit: 1.4058
Why we like it:
There is a pullback resistance level that aligns with the 61.8% Fibonacci retracement.
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USDCAD - BUY/LONG opportunity?On this trade I am going to remain neutral until price breaks above the yellow line. However, simply because of where price is located now it's a very good risk to reward ratio and it could be entered into now.
completed 161.8 extension
61.8 fib retracement of the bullish macro trend
currently breaking bearish trendline acting as resistance
USDCAD | 01.05.2025BUY 1.38000 | STOP 1.36900 | TAKE 1.39600 | The prolonged sideways movement of the pair near medium-term support levels tells us that buyers in this range can develop an upward movement with a further upward breakout of 1.39760. The influential factors of the price movement will be the US ore market publications this week and the general background of the tariff policy towards Canada. We expect a slight rise in price to start with.
USDCAD: Short Trading Opportunity
USDCAD
- Classic bearish pattern
- Our team expects retracement
SUGGESTED TRADE:
Swing Trade
Sell USDCAD
Entry - 1.3880
Stop - 1.3901
Take - 1.3838
Our Risk - 1%
Start protection of your profits from lower levels
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USDCAD Analysis: Buyers Defend Key Level Ahead of NFP DataUSDCAD Analysis: Buyers Defend Key Level Ahead of NFP Data
Since April 20, USDCAD has been moving sideways without a clear trend. However, in recent days, the pair has found strong support around 1.3780 for the second time, suggesting that buyers are actively defending this zone.
With the upcoming NFP data, there's potential for a bullish move. If the report fuels buying momentum, USDCAD could rise toward the resistance levels at 1.3855 and 1.3890, as seen on the chart.
You may find more details in the chart!
Thank you and Good Luck!
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USD/CAD: Ready to Explode from Demand Zone !!Hey guys,
As you can see on the chart, price is sitting on a daily demand zone and has already swept weekly liquidity.
If we get a solid reaction from here, I’m looking at 1.39000 – 1.39500 as the next potential target area.
(Not financial advice)
#USDCAD #Forex #PriceAction #SmartMoney #LiquidityGrab #DemandZone #TechnicalAnalysis #ForexSetups #BreakoutWatch #SwingTrading #ForexTrading #TradingView
USDCAD – Reversal Setup Ahead of FOMC DecisionUSD/CAD has bounced off strong support near 1.3770, forming a clean bullish structure into a pivotal week dominated by the FOMC meeting. Price action shows higher lows and a tightening range, signaling a potential breakout. With the Fed expected to hold rates but maintain a hawkish tone, the USD may regain strength — especially against the CAD, which remains under pressure from trade risks and weak oil prices.
🔹 Technical Setup:
Structure: Rejection at 1.3770 support with ascending trendline developing.
Pattern: Bullish flag breakout (visible on 2H chart).
Momentum: Recovery candles suggest buyers regaining control ahead of resistance.
Key Levels:
Support: 1.3770 – 1.3780
Resistance:
TP1: 1.3852 (Fib 61.8%)
TP2: 1.3891 (swing high zone)
TP3: 1.3950 (major breakout target)
Invalidation: Below 1.3760
🧠 Fundamental View:
USD Outlook:
The Fed is widely expected to hold interest rates steady on May 7, but officials are pushing back against early rate-cut expectations. Chair Powell is likely to emphasize inflation risks and signal no imminent easing. This stance supports USD resilience, especially if the Fed reiterates “higher for longer” messaging.
CAD Outlook:
The Canadian economy continues to face export challenges from U.S. tariffs, weakening business sentiment. Meanwhile, softening oil prices reduce support for the CAD. With the Bank of Canada having already delivered several rate cuts, it remains more dovish than the Fed — creating a widening policy divergence.
💡 Trade Idea:
Bias: Bullish above 1.3780
Entry Zone: 1.3800–1.3820
Target 1: 1.3852
Target 2: 1.3891
Target 3: 1.3950
Stop Loss: Below 1.3760
📌 Watch for volatility during and after the FOMC statement and Powell’s press conference. A hawkish surprise could fuel a sharp move toward 1.39+.
USD/CAD 30M CHART PATTERNThe chart presents a bullish setup on the USD/CAD pair with an entry at 1.38100. Price action is respecting an ascending trendline, showing higher lows and potential for further upside movement. A breakout above the resistance zone around 1.38400 signals possible continuation of the trend. The Ichimoku cloud provides additional support to the bullish bias. This setup is ideal for traders looking for short-term gains, provided the breakout sustains. Risk should be managed with stops placed below the trendline or recent swing low to protect against a false breakout.
Entry: 1.38100
TP1: 1.38600
TP2: 1.39000