Get started

Canadian Dollar / U.S. Dollar

No trades
See on Supercharts
Overview News
Ideas
Discussions Technicals Seasonals Economic Calendar

CADUSD trade ideas

Could the price bounce from here?USD/CAD is falling towards the support level which is a pullback support that aligns with the 61.8% Fibonacci retracement and could bounce from this level to our take profit. Entry: 1.4038 Why we like it: There is a pullback support level that lines up with the 61.8% Fibonacci retracement. Stop loss: 1.4348 Why we like it: There is a pullback support level that lines up with the 138.2% Fibonacci extension. Take profit: 1.4436 Why we like it: There is a pullback resistance. Enjoying your TradingView experience? Review us! Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Long
by VantageMarkets
Short Buying The USD/CAD trading chart is showing an upward trajectory, presenting a favorable setup for short-term buyers. The price action suggests bullish momentum, potentially driven by positive market sentiment or economic indicators. Traders might consider entering buy positions while closely monitoring resistance levels and market news for any potential reversals. Risk management strategies, such as stop-loss orders, are recommended to mitigate any unexpected market shifts. Keep an eye on key levels to lock in profits effectively.
Short
by Mohammad_Zain01
Lingrid | USDCAD selling OPPORTUNITY in the Sideways MARKETFX:USDCAD is currently moving sideways after a bullish trend that began in September. It has encountered a strong resistance zone that was established in March 2020. Therefore it’s possible that the price may consolidate for an extended period following such a strong upward move. At present, price action is trading within the range established in the previous week. The price is forming a clear range, consistently bouncing between the top and bottom levels. I expect the market to continue consolidating, providing opportunities to capitalize on the sideways movement. My goal is support zone around 1.43730 Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻
Short
by Lingrid
1
USDCAD aNALYSISIf you're considering shorting USDCAD (betting that the price will decrease) today, here are some general strategies and market factors to keep in mind: ### 1. **Trend Analysis:** - **Technical Indicators:** Shorting is often more favorable when the price is showing signs of being overbought or nearing resistance levels. Look for bearish signals like a downtrend, overbought conditions on the RSI (Relative Strength Index), or price rejection at a key resistance zone. - **Moving Averages:** A shorter-term moving average crossing below a longer-term moving average (like the 50-period crossing below the 200-period) can indicate a potential downward trend. If USDCAD is showing a crossover in this manner, it could support shorting decisions. ### 2. **Fundamental Drivers:** - **Oil Prices:** Canada is a major oil exporter, so USDCAD often moves in correlation with oil price fluctuations. If oil prices are falling, the Canadian dollar (CAD) typically weakens. A drop in oil prices might suggest a weakening CAD, which could lead to a USDCAD move higher. - **Economic Data Releases:** Economic reports such as GDP, inflation, or employment numbers can impact the pair. If there’s any negative news coming from Canada or better-than-expected data from the U.S., it could strengthen the USD relative to CAD and potentially make a short position on USDCAD more appealing. - **Central Bank Policies:** Pay attention to the Federal Reserve (Fed) and Bank of Canada (BoC) policy announcements. Any hawkish stance by the Fed or dovish stance by the BoC would typically lead to USD strength and potential for USDCAD shorts. ### 3. **Key Levels:** - **Support and Resistance:** Analyze key support and resistance levels on the daily or 4-hour charts. If USDCAD has been unable to break a significant resistance level (for example, near 1.3700), it could indicate an opportunity to short if the price starts to reverse from that point. - **Pivot Points:** These can also provide insights into potential turning points. If USDCAD is approaching or struggling to break through a key pivot point, it may present a short opportunity. ### 4. **Risk Management:** - Always have a clear stop loss in place to limit potential losses if the market moves against your position. - Use proper position sizing to ensure that a single trade doesn’t overly affect your overall capital, especially with volatile pairs like USDCAD. ### 5. **Short-Term Catalysts:** - Keep an eye on news releases, such as the U.S. Federal Reserve speeches, important economic data like U.S. job numbers, or statements from the Bank of Canada. Any surprise in these areas could fuel short-term moves in USDCAD. In summary, a potential USDCAD short today would depend on technical confirmation (overbought conditions, resistance), fundamental factors like oil prices, and key news events. The best practice is to ensure that the market sentiment aligns with your position, and use risk management tools to minimize exposure in case of an adverse move.
Short
by THE_DEGEN_UNCLE
Bullish Outlook for USDCAD: Strategic Entry Ahead!As we look at the USDCAD currency pair, the signals from our EASY Trading AI strategy clearly indicate a bullish trend. The current analysis suggests an optimal entry price at 1.43998, with a solid take profit target set at 1.44355667 and a stop loss strategically placed at 1.43488667. Several factors contribute to this optimistic forecast. Firstly, recent economic data out of Canada shows positive trends in employment and manufacturing, reinforcing the strength of the Canadian dollar. At the same time, ongoing geopolitical tensions and a dovish stance from the US Federal Reserve support the U.S. dollar's vulnerability, tilting the balance in favor of CAD. Moreover, our automated trading signals from the EASY Trading AI have demonstrated a high accuracy rate, particularly on the USDCAD pair, with backtesting results highlighting a robust win ratio. The current market sentiment reflects increasing bullish momentum, further validating our buying stance. To maximize your trading success, it's essential to monitor the market closely and be ready to adapt as new data emerges. Don't forget to leverage the free signals available through our Telegram bots, which provide real-time updates to ensure you stay ahead of market developments. In conclusion, the USDCAD pair presents a compelling buying opportunity based on comprehensive analysis and market conditions. Happy trading!
Long
by ForexRobotEasy
USDCAD Analysis: Bullish MomentumThe USDCAD pair has been extremely bullish lately, which is why it caught my attention. We can see multiple breaks to the upside, indicating a strong trend. Despite expecting a potential pullback in the near term, the overall trend remains very strong. This is why I have entered a position on the 1-hour timeframe. Using the WiseOwl Indicator, we can see that it has been capitalizing on the trend with previous wins of +3.96RR, +7RR, and +5.42RR. Currently, we are in a risk-free trade with the stop loss set at breakeven (BE). The EMAs (20, 50, 100, 200) are all aligned to support the bullish trend. Let's see how this plays out! 💪
Long
by TraderOuss_LumaNex
2
USDCAD: Triangle Formation Poised for a BreakoutUSDCAD appears to be consolidating in the form of a triangle pattern. Based on my wave count, the pair is currently completing Wave D within the structure. And, after Wave E concludes and there is a confirmed break above Wave B, I anticipate further upward movement. Triangles often signal a pause in the market before a continuation of the prevailing trend. In this case, the bullish breakout scenario aligns with the broader market dynamics. Should monitor the completion of Wave E and watch for a decisive breakout above the resistance formed by Wave B, as this will confirm the upward trajectory and provide an opportunity for long positions.
Long
by The_Traders_Memoirs
1
USDCAD LONG TERM VIEWIf the price has to reverse then it should reverse from the point where it is currently trading (1.3628), beyond this point price will move to 1.3794 from where it can reverse back to 1.3380 which could be strong support for the huge rally that could lead to break the last high of 1.4677 and can set a new record high. The dotted red lines indicates the possible resistance points. The solid red line is the strong resistance line, above that point will open the way up to 1.3988 and beyond.
Long
by taranquilo
USD/CAD H1 | Potential bullish bounceUSD/CAD is falling towards a multi-swing-low support and could potentially bounce off this level to climb higher. Buy entry is at 1.4347 which is a multi-swing-low support that aligns close to a 38.2% Fibonacci retracement. Stop loss is at 1.4290 which is a level that sits underneath a pullback support. Take profit is at 1.4429 which is a multi-swing-high resistance. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 64% 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. Stratos Europe Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% 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. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
Long
by FXCM
USDCAD Analysis:USDCAD has been trending strongly upwards over the past 3 months, with price action indicating a potential push towards the weekly high to seek liquidity. Notably, the previous resistance level has flipped into support, providing a bullish foundation. From a fundamental perspective, the latest COT report reveals that non-commercials are aggressively selling their Canadian dollar positions. Given the USD/CAD pairing, a weaker CAD suggests further upside potential. As a result, we may witness more explosive moves to the upside in the USDCAD pair.
Long
by Mhiztaruges