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USD/CAD Hints at Bullish ReversalBearish momentum has continued to wane on USD/CAD, as bears continue to make hard work of fresh cycle lows. That has allowed a bullish RSI divergence to form on the daily chart alongside a falling wedge pattern. That is has formed around historical VPOC (volume point of controls) adds further weight to the potential bullish reversal. Also note that a bullish engulfing candle formed on Wednesday to suggest a bullish breakout could be pending. Bulls could seek dips towards the September VPOC in anticipation of a bullish breakout, and retain a bullish prices while they remain above recent swing lows. The core target is the base of the wedge, just below 1.4. Matt Simpson, Market Analyst at City Index and Forex.com
Long
by CityIndex
USDCAD Massive Long! BUY!The USD/CAD exchange rate is currently at a critical juncture, and the Fed's interest rate decision will be the focus of the market in the near future. Traders generally expect the Fed to keep interest rates unchanged at this meeting, but the market is more concerned about Powell's statement at the press conference, especially his response to tariff uncertainty and the political pressure from Trump to cut interest rates. However, the domestic data in Canada is putting pressure on the Canadian dollar. The seasonally adjusted Ivey Purchasing Managers' Index in Canada in April was much lower than expected, dropping from 51.2 in the forecast to 48.0, indicating that business sentiment is deteriorating. Recently, after the exchange rate broke through the important psychological level of 1.3900, the kinetic energy has further increased, and it has quickly approached the 1.3750 support area. The RSI indicator is currently at the 35.49 level. Although it has not yet entered the strict oversold area, it is already close to this level, which may mean that a technical rebound will occur in the short term. Currently, the 1.3750 - 1.3700 range has become a key support area. This area is both a key technical position and a psychological support. If this range is broken, the next target may be the 1.3610 level. The resistance levels above are first 1.3900, and then the psychological level of 1.4000. you are currently struggling with losses, or are unsure which of the numerous trading strategies to follow, at this moment, you can choose to observe the operations within our channel.
Long
by HilaryBloomer
USD/CAD could decrease to C$1.35The US dollar has weakened recently against other major currencies including the euro, pound and yen. While it may not have grabbed the headlines, there’s another currency we can add to that list: the Canadian dollar. The Canadian dollar – which was trading at around C$1.45 per US dollar at the end of January – may continue to strengthen against its southerly neighbour in the near term, potentially reaching C$1.35 per US dollar. Let’s examine why. The area between C$1.38 and C$1.39 has previously served as a resistance zone for USD/CAD, marking significant tops in 2022, 2023 and 2024. Each time, this area ended the dollar’s gains and led to a renewed period of Canadian dollar strength. The pattern changed in October 2024, when – after multiple failed attempts to break through resistance – USD/CAD finally pushed to a new high of C$1.45. Now, as USD/CAD declines from that peak, the old resistance area of C$1.38 to C$1.39 is providing support. If USD/CAD falls below support at C$1.38, it could decline towards C$1.347, partly because there are no meaningful levels of support to slow such a move. A falling bear flag pattern also seems to be forming, suggesting that a breakdown may be imminent, potentially supporting a drop to around C$1.35. Meanwhile, the completion of the diamond reversal top that formed from December 2024 to March 2025 could imply a return to the pattern’s origin near C$1.35. The USD/CAD chart pattern also shows a high degree of symmetry between the left and right sides. In other words, the decline on the right side is occurring at a similar pace to the earlier rise on the left. Completing this symmetrical pattern might suggest a return to the starting point around C$1.35. Of course, if support at C$1.38 holds and the Canadian dollar does not strengthen further, a swift rise for the US dollar back towards C$1.41 cannot be ruled out. Written by Michael J. Kramer, founder of Mott Capital Management  Disclaimer: CMC Markets is an execution-only service provider. The material (whether or not it states any opinions) is for general information purposes only and does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by CMC Markets or the author that any particular investment, security, transaction, or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although we are not specifically prevented from dealing before providing this material, we do not seek to take advantage of the material prior to its dissemination.
by cmcmarkets
USDCAD INTRADAY range trading capped at 1.4050The USDCAD pair is exhibiting a bearish sentiment, reinforced by the ongoing downtrend. The key trading level to watch is at 1.4060, which represents the current intraday swing low and the falling resistance trendline level. In the short term, an oversold rally from current levels, followed by a bearish rejection at the 1.4060 resistance, could lead to a downside move targeting support at 1.3780, with further potential declines to 1.3730 and 1.3630 over a longer timeframe. On the other hand, a confirmed breakout above the 1.4060 resistance level and a daily close above that mark would invalidate the bearish outlook. This scenario could pave the way for a continuation of the rally, aiming to retest the 1.4080 resistance, with a potential extension to 1.4160 levels. Conclusion: Currently, the USDCAD sentiment remains bearish, with the 1.4060 level acting as a pivotal resistance. Traders should watch for either a bearish rejection at this level or a breakout and daily close above it to determine the next directional move. Caution is advised until the price action confirms a clear break or rejection. This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
by TradeNation
Bearish Pressure Builds on USDCAD - 1D to 15m Sell Setup!Currently eyeing USDCAD 👀 — the pair has been under consistent downward pressure 📉. Volatility remains elevated ⚡, so be prepared for potential sharp moves. The daily timeframe shows a clear bearish structure, aligning with my short bias 🐻. I’ve drilled down to the 4H, 1H, and 15min charts to refine my entry 🎯. The 15-minute chart began showing signs of bearish momentum, and I’ve taken a short position based on that lower-timeframe confirmation ⏱️🔥. As always, not financial advice – just sharing my view and execution logic 💼⚠️.
Short
by fxtraderanthony
1
USDCADThere’s a potential sell opportunity on USDCAD, and I personally plan to take this trade. Most likely, this will be my last trade for the day—I'm not expecting to open any more positions after this one. 🔍 Criteria: ✔️ Timeframe: 15M ✔️ Risk-to-Reward Ratio: 1:2 ✔️ Trade Direction: Sell ✔️ Entry Price: 1.37884 ✔️ Take Profit: 1.37706 ✔️ Stop Loss: 1.38003 🔔 Disclaimer: This is not financial advice. It's a trade I’m taking based on my own system, shared purely for educational purposes. 📌 If you're also interested in systematic and data-driven trading strategies: 💡 Don’t forget to follow the page and subscribe to stay updated on future analyses.
Short
by Nurlan_PT
USDCAD SHORT FORECAST Q2 W19 D7 Y25USDCAD SHORT FORECAST Q2 W19 D7 Y25 Professional Risk Managers👋 Welcome back to another FRGNT chart update📈 Diving into some Forex setups using predominantly higher time frame order blocks alongside confirmation breaks of structure. Let’s see what price action is telling us today! 💡Here are some trade confluences📝 ✅Intraday breaks of structure ✅Tokyo ranges to be filled ✅15' order block identified ✅ inconclusive regarding 15' mitigated, therefore 5' order block identified after potential 15' mitigation ✅4 Hour order block ✅4 Hour 50 EMA 🔑 Remember, to participate in trading comes always with a degree of risk, therefore as professional risk managers it remains vital that we stick to our risk management plan as well as our trading strategies. 📈The rest, we leave to the balance of probabilities. 💡Fail to plan. Plan to fail. 🏆It has always been that simple. ❤️Good luck with your trading journey, I shall see you at the very top. 🎯Trade consistent, FRGNT X
Short
by JCFRGNT
USDCAD → Storming the support level to break throughFX:USDCAD continues to storm support within the trading range amid a global downtrend The currency pair is within the range, but the battle for support continues. The reaction to false breakouts is weakening and the price continues to attack the 1.378 level, which only increases the chances of a further decline The dollar is rebounding from resistance and beginning to fall, which is having a corresponding effect on USDCAD. If the currency pair breaks 1.378 and consolidates below the level, this could trigger a continuation of the trend after consolidation... Resistance levels: 1.381, 1.383 Support levels: 1.378, 1.374 Focus on the lower boundary of the trading range at 1.378. The role of the range is consolidation against the backdrop of a downtrend. Thus, a breakout of support will activate the distribution phase Best regards, R. Linda!
Short
by RLinda
4
USDCAD Is Bullish! Long! Here is our detailed technical review for USDCAD. Time Frame: 12h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is approaching a significant support area 1.378. The underlined horizontal cluster clearly indicates a highly probable bullish movement with target 1.399 level. P.S Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback. Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis. Like and subscribe and comment my ideas if you enjoy them!
Long
by SignalProvider
1
BUY USDCAD for bearish false breakout STOP LOSS : STOP LOSS BUY USDCAD for bearish false breakout STOP LOSS : STOP LOSS position is left opened ( am only closing this trade based on a candle stick pattern) First what is false breakout, A false breakout in Forex occurs when the price breaks through a key level (like support or resistance) but quickly reverses and returns to its original range, often trapping traders who were expecting a continuation of the breakout. It's essentially a false signal, indicating a potential trend reversal or continuation, but the price doesn't follow through.... Secondly what is divergence ,In forex trading, divergence occurs when the price of a currency pair moves in one direction, while a technical indicator (like an oscillator) moves in the opposite direction. This mismatch can signal a potential trend reversal or weakening trend. There are two main types: bullish and bearish divergence........ On this trade we are taking it because we saw regular bullish Divergence, Regular Bullish Divergence In case of Regular Bullish Divergence: * The Indicator shows Higher Lows * Actual Market Price shows Lower Lows We can see a strong divergence on the RSI already and There is a strong trend reversal on the daily time frame chart..... The daily time frame is showing strength of trend reversal from this strong level of Support so we are looking for the trend reversal and correction push from here ..... TAKE PROFIT : take profit will be when the trend comes to an end, feel from to send me a direct DM if you have any question about take profit or anything Remember to risk only what you are comfortable with…….trading with the trend, patient and good risk management is the key to success here
Long
by BALE_FX
USDCAD SHORT FORECAST Q2 W19 D6 Y25USDCAD SHORT FORECAST Q2 W19 D6 Y25 Professional Risk Managers👋 Welcome back to another FRGNT chart update📈 Diving into some Forex setups using predominantly higher time frame order blocks alongside confirmation breaks of structure. Let’s see what price action is telling us today! 💡Here are some trade confluences📝 ✅Intraday breaks of structure ✅Tokyo ranges to be filled ✅15' order block identified ✅ inconclusive regarding 15' mitigated, therefore 5' order block identified after potential 15' mitigation 🔑 Remember, to participate in trading comes always with a degree of risk, therefore as professional risk managers it remains vital that we stick to our risk management plan as well as our trading strategies. 📈The rest, we leave to the balance of probabilities. 💡Fail to plan. Plan to fail. 🏆It has always been that simple. ❤️Good luck with your trading journey, I shall see you at the very top. 🎯Trade consistent, FRGNT X
Short
by JCFRGNT
USD/CAD - Wedge Breakout (06.05.2025)The USD/CAD pair on the M30 timeframe presents a Potential Buying Opportunity due to a recent Formation of a Wedge Breakout Pattern. This suggests a shift in momentum towards the upside and a higher likelihood of further advances in the coming hours. Possible Long Trade: Entry: Consider Entering A Long Position around Trendline Of The Pattern. Target Levels: 1st Resistance – 1.3893 2nd Resistance – 1.3928 🎁 Please hit the like button and 🎁 Leave a comment to support for My Post ! Your likes and comments are incredibly motivating and will encourage me to share more analysis with you. Best Regards, KABHI_TA_TRADING Thank you.
Long
by KABHI_TA_TRADING
16
Bullish Breakout from Falling WedgeCurrently, the USD/CAD is in a crucial support area. The weakness of the US dollar and the improvement in the fundamental aspects of the Canadian dollar have created a tug-of-war between bulls and bears. Traders are adopting a strategy of selling high and buying low within the range of 1.3760-1.3844. Once the resistance/support level is broken through, they will follow the trend accordingly. you are currently struggling with losses, or are unsure which of the numerous trading strategies to follow, at this moment, you can choose to observe the operations within our channel.
Long
by HilaryBloomer
Watching carefully USDCAD this weekWith the abundance of US & CAN data this week, we may see some interesting action in USDCAD pair. Let's dig in. Let us know what you think in the comments below. Thank you. 77.3% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Past performance is not necessarily indicative of future results. The value of investments may fall as well as rise and the investor may not get back the amount initially invested. This content is not intended for nor applicable to residents of the UK. Cryptocurrency CFDs and spread bets are restricted in the UK for all retail clients.
by Marketscom
#USDCAD: Two Major Buying Zones, Patience Pays! As previously analysed, USDCAD is expected to decline towards our predetermined entry point. We anticipate a bearish US Dollar for the remainder of the week, which will ultimately lead USDCAD to reach the entry zone. Three distinct target areas exist, collectively worth over 1100 pips. Each entry point, stop loss, and take profit is clearly defined. We wish you the best of luck and safe trading. Thank you for your support. If you wish to assist us, we encourage you to consider the following actions: - Like our ideas - Provide comments on our ideas - Share our ideas Kind Regards, Team Setupsfx_ Much Love ❤️🚀
Long
by Setupsfx_
2