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USDCAD DOUBLE TOP PATTERNUSD/CAD Analysis: Double Top and Rising Wedge Patterns Detected The USD/CAD pair is experiencing a bearish reversal, with two distinct patterns emerging: Key Indicators: - Double Top Pattern: A clear double top formation has been identified, indicating a potential reversal in the upward trend. - Rising Wedge Pattern: A rising wedge pattern has also been detected, suggesting a bearish breakout may occur. Key Levels: - Resistance: 1.45102 - Support: 1.39000 - Target: 1.38000 - Stop Loss: 1.42641 Recommendation: Caution is advised, as a bearish breakout may occur. Consider short-term sell positions or hedging strategies to mitigate potential losses. Best Wishes Tom 😎
by LegendaryTom
4
USDCAD scalp short on exhaustion reversal As always, we like to keep it clean and simple, with technicals and analysis that's easy to see and understand. Let's get into it: 1. Wave 5 exhaustion on mult timeframes 2. Overbought 30m/1h/1D 3. Shooting star candle printed on 1h Analysts note that USDCAD is trading within a rising channel since late September, recently peaking at 1.4178. The bullish momentum suggests potential for further gains, but short-term corrections (ie. why we're scalping) are common as traders take profits and reassess positions. Market Sentiment and Data Releases: With key U.S. and Canadian employment data released recently, markets may experience volatility as traders digest the information. This can often lead to short-term corrections as the market adjusts to new economic indicators. Be Alert. Trade Green.
Short
by JC7USA
Does the Canadian dollar have a bullish surprise up its sleeve?This is the question I am asking myself as we head into 2025. CAD has been the weakest major for some time now based on the BOC's easing cycle, and we saw a record level of net-short exposure against it in August, and another surge of shorts in November. This strikes me as a stale trade that is vulnerable to a shakeout, and it might not require a particularly large catalyst for CAD bears to capitulate and send USD/CAD lower. MS
Short
by CityIndex
USDCAD - 4hrs ( Buy Trade After Retest Tp Range 180 PIP )Pair Name :USD/CAD Time Frame : 4hrs Chart / Close Scale Type : Large Scale ------ Key Technical / Direction ( Long After Retest ) ——————————— Bullish Retest 1.41100 Area reasons - Major Turn level - Visible Range Hvn - Pattern Retest - CHoch zone - Fibo Golden Bearish Reversal 1.43000 Area Reasons - Major Turn level - Visible Range Hvn - pattern Target - Visible range Hvn - Fibo Golden Zone
Long
by GentleGoldenEngine
1
Pullback hunt on USDCADAs it looks now, USDCAD should have a decent pullback towards 1,40400. My plan is to wait for 15M structure break, then monitor the retest on the lower TF(15M, 5M, 1M) and if this retest will hold(CHOC, BOS on lower TF) I will enter to the trade. Do not set SELL STOP orders at the entry line and don´t sell higher(because of better price). Wait till entry conditions are met. I will update this trade, so you will get the message. TP your trade partially. When price moves in your favour, set SL to BE, but give it some space to "breath". Wish you good luck. P.S. I´m not a signal service, do not sell anything. If you want to buy something, please contact one of the signalist who will comment this idea. If you want to learn and discuss, you know what to do. Invest your time to learning instead of buying signal on a some kind of premium channel.
Short
by Rendon1
1
USDCAD Analysis - Bullish - Trade 041. Seasonality The CAD is bullish during the first week of December, while the USD exhibits bearish momentum. This combination suggests a bearish outlook for USDCAD based on seasonality. 2. COT Report The COT report for the CAD suggests a sell. On the other hand, the COT report for the USD suggests a buy, indicating increasing strength for the USD. This could provide upward pressure on USDCAD. 3. Fundamental Analysis LEI The USDCAD LEI is increasing, which signals potential strength for the USD and could favor upward movement in USDCAD. Endogenous Factors The endogenous factors for the USD are increasing, suggesting bullish momentum for the USD, while the CAD's endogenous factors show weakness, further supporting a potential rise in USDCAD. Exogenous Factors Exogenous indicators for USDCAD show a decreasing trend, suggesting some resistance to further bullish momentum, which could limit the upside potential of USDCAD. 4. Technical Analysis USDCAD is forming an ABCD pattern, with the C point retracement at the 0.79 Fibonacci level. Bias The combined analysis suggests a bullish bias for USDCAD Trade Plan Entry: 1.40481 SL: 1.39756 TP: 1.41206
Long
by asadamalik
USDCAD Bulls Eye 1.4140 Amid Momentum ShiftHello Traders, Take a moment to read my outlook on USDCAD, and share your thoughts Overview USDCAD is currently trading at 1.40623, showing bullish trends on both the H4 and H1 timeframes. However, the bullish momentum on the H4 appears to be weakening, suggesting the uptrend may be nearing a potential reversal zone. Market sentiment remains bullish, supported by increased volatility, but momentum on the H1 timeframe has noticeably decreased, signaling reduced upward strength. Idea The pair is expected to continue its rise toward the 1.4140 price region, a key resistance level with the potential to halt further upward movement and trigger a bearish reversal. Price action is currently rejecting off the H1 order block, which could act as a short-term support level. I will monitor the 1.39797 level closely, as a break below this support would invalidate the bullish outlook, signaling a potential shift in market structure. Conversely, a sustained move above the 1.4140 resistance would indicate renewed bullish momentum and the possibility of further gains. Conclusion This outlook suggests further upside potential toward 1.4140 which is about 80pips move. However, a clear break below 1.39797 would invalidate this idea, and could provide opportunities for short positions. Cheers and happy trading!
Long
by Samuel124
1
USD/CAD AnalysisFX:USDCAD A comprehensive analysis of the USD/CAD pair, which also brought a potential trade. Of course, everything will continue to depend on the fundamentals, as the market is currently moving in the range of the last H and L for some time. We could see great momentum, and breaking through the resistance, which the market could come to test, as fibbo levels are also found at this level. Overall, I will be interested in the pair if it starts moving around the 1.41000 price.
Long
by Kozelnicky
USDCAD - Correction or Bull Breakout?20SMA - Blue 200SMA - Pink Key Confluence Areas - Grey Lines Market Structure Support/Resistance - Green/Red Dashed Lines Dear Friends: If you find my analysis helpful, please boost and follow me for future analysis at your service. How I see it: Strong engulfing 1D candle closed within the confluence zone. Price could wiggle around trying to correct downwards. Or just breakout through confluence and test now resistance as a new support. Both SMA's is slowly rising. Keynote! For fundamental/political reasons, I strongly believe a bullish continuation is a high probability. I deeply appreciate you taking the time to study my analysis and point of view.
Long
by ANROC
USDCADTHIS ANALYSIS FOR "USDCAD" ON MULTIPLE TIME FRAME. - What we can see on daily timeframe price already breakout on significant resistance, - Wait price pullback on the zone - Can follow my TP target or can close profit when you feel enough. - Can set you SL between 25 - 35 Pips with you own risk. - If price break nerewst trendline we just wait price come to trendline then we BUY. All the best !!! If you want more update on USDCAD. Kindly follow and like. Feel free to comment my outlook and share with your friends. Thanks!
by ShahrulMokhtar_SAM