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USDCAD INTRADAY sideways consolidationThe 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
USDCAD – DAILY OUTLOOK – APRIL 29Looking at the daily chart, USDCAD hasn’t done much in terms of our longer-term target but continues to reject 1.38618, which adds confluence to the bearish bias. That being said, the consistent failure to push higher makes me doubt we’ll see the deeper pullback to 1.39621—unless we get a strong fundamental catalyst. So for now: 📉 Current sell zones: – 1.37871 – 1.36647 🎯 First target = 1.34380 (300+ pips available) Will reassess if any news shifts the bias, but structure-wise we stay short.
Short
by Thetraderscollective
USDCAD SHORT IDEAUnder current market conditions, the area near 1.3849 has been identified as a critical resistance zone, where the AI model detects a high-probability trade setup. From a technical perspective, a clear directional bias based on recent price action patterns. Suppose the market demonstrates increased volume and price stability above key moving averages in the 1.3849 area. In that case, traders are advised to monitor for trend-continuation entry opportunities in alignment with the prevailing momentum. Profit targets are defined at 1.3819 and 1.3785, corresponding to logical technical support zones. These levels are designed for staged profit-taking across different trade management styles. Stop-loss should be strictly enforced at the designated level; once breached, the strategy is considered invalidated in order to limit potential downside.
Short
by FOREX_CRYPTO_MASTER
Canadian Dollar Rises Amid Tariff Concerns and Oil GainsHello, FX:USDCAD : The Canadian dollar slightly rose against the U.S. dollar, with bond yields reaching multi-month highs, partly recovering from recent declines due to U.S. trade tariff threats. The loonie traded at 1.4405 to the U.S. dollar, recovering from a near 5-year low in December. Concerns about potential U.S. tariffs and their impact on the Bank of Canada have influenced the market. Despite strong job data in December, investor confidence in further BoC rate cuts has waned. Speculators have increased bearish bets on the Canadian dollar. Meanwhile, the U.S. dollar gained against major currencies as expectations for Federal Reserve rate cuts diminished. Oil prices rose 2.9% to $78.82 per barrel due to anticipated U.S. sanctions on Russian oil. The Canadian 10-year yield increased to 3.507%, marking its highest level since July 9. For this pair a bearish reversal is still anticipated in the near future! No Nonsense. Just Really Good Market Insights. Leave a Boost TradeWithTheTrend3344
Short
by TradeWithTheTrend3344
Canadian dollar in holding pattern on Election DayThe Canadian dollar is showing limited movement on Monday. In the European session, USD/CAD is trading at 1.3868, up 0.10% on the day. There are no economic releases out of the US or Canada today. It's Election Day in Canada. Prime Minister Mark Carney, who has only been in office since March, is favored to win the election. Carney's Liberal Party was badly trailing the Conservatives but US President Trump has ignited Canadian nationalism and turned the election race upside down. Trump has talked about annexing Canada and although most Canadians don't expect that to happen, there is strong resentment against the US tariff policy, which has hit Canada even though the two countries have a free trade agreement. Carney is viewed as a strong leader who can stand up to Trump and the markets have priced in a Liberal majority. If the Liberals are forced to make a coalition with the smaller parties, the new government would be considered less stable and that would likely trigger some CAD weakness. If the Conservatives manage to pull out a surprise election victory, the Canadian dollar would likely get a boost. Canada's retail sales declined 0.4% m/m in February but bounced back in March with a strong gain of 0.7%. On an annualized basis, retail sales slipped to 4.7% in February, down from a revised 5.3% in January. The improvement in March was driven by consumers making purchases ahead of US tariffs, but consumer spending is likely to deteriorate. The Bank of Canada will be keeping a close eye and will have to consider further rate cuts if upcoming economic data is weak. The BoC maintained the cash rate at 2.75% earlier this month and meets next on June 4. USD/CAD is testing resistance at 1.3868. Above, there is resistance at 1.3880 and 1.3910 1.3850 and 1.3838 are the next support levels
by OANDA
Positive trade talks fuel USD recovery.🔔🔔🔔 USD/CAD news: ➡️ The USD/CAD pair rebounded from its recent losses seen in the previous session, trading around 1.3870 during Friday’s Asian session. The pair is stronger as the U.S. dollar gained traction, supported by optimism over potential U.S. trade deals. The greenback attracted some dip-buying interest after Thursday’s mild decline and found additional support from upbeat U.S. macroeconomic data. Personal opinion: ➡️ USD is on the rebound and performing better than CAD. Therefore, the main trend for this pair is still bullish in the short term ➡️ Analysis based on resistance - support levels and trend lines combined with SMA to come up with a suitable strategy Personal plan: 🔆Price Zone Setup: 👉Buy USD/CAD 1.3866 - 1.3850 ❌SL: 1.3830 | ✅TP: 1.3920 - 1.3970 FM wishes you a successful trading day 💰💰💰
Long
by FM-ForexMastermind
1
USD/CAD ConsolidatesUSD/CAD Consolidates In the second half of April, the USD/CAD chart has shown a decline in volatility following significant spikes observed since February. The Canadian dollar has stabilised against the US dollar within the 1.390–1.380 range over the past week, as market participants assess what a fair USD/CAD rate might be, given the evolving news backdrop: → The US dollar gained upward momentum on hopes of easing trade tensions between the US and China, although the information remains conflicting — Trump claims negotiations are ongoing, while Beijing denies this. → Oil prices — a key Canadian export — have recovered by more than 10% from their April lows, providing support for the Canadian dollar. → Economic data published this week suggests a cooling in the Canadian economy: employment is declining, and the pace of average wage growth has slowed to 5.4%. → Although an important political event — the Canadian Parliamentary elections — is set to take place this weekend, it appears to have had little impact on the USD/CAD exchange rate so far. Trade tariffs between the US and Canada likely remain the dominant concern. Technical Analysis of the USD/CAD Chart Price fluctuations have formed a descending channel that originated in March. From a bearish perspective, resistance may be encountered at: → the median line of the channel; → the psychological level of 1.400. From a bullish perspective: → the price has formed a rounding bottom pattern near the 1.380 level; → the lower boundary of the channel is acting as significant support. It is possible that the weekend will bring key developments that could act as catalysts, breaking the established range between 1.390 and 1.380. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
by FXOpen
1
USDCAD COT and Liquidity AnalysisCOT Report Analysis: This is a bit tricky one on the first sight you can see there is more longs than shorts, but !! And this where many traders makes mistakes when they are looking to the just current COT data. We can see that since march longs has dropped from the 165k to 1002K this is bearish. Net positions also going down. while the long % exposure is still 85% long it mostly go much lower. Also price action confirms lower prices, but I think healthy pullback is in play. So we got framework and bias now we need to look for setups. Which I will again use my CLS method. /b] Hey what up traders welcome to the COT data and Liquidity report. This is a big part of my FX Trading. Im always trying to trade with the Big players so knowing their positions is good thing. Please be aware that institutions report data to the SEC on Tuesdays and data are reported on Fridays - so again we as retail traders have disadvantage, but there is possibility to read between the lines. Remember in the report is what they want you to see, that's why mostly price reverse on Wednesday after the report so their cards are hidden as long as possible. However if the trend is running you can read it and use for your advantage. I created this simple free indicator which you can find in the my scripts. It's highlighting the day of the real report - Tuesday. Here is the tip if the level has confluence with the high volume on COT it can be strong support / Resistance. Analysis done on the Tradenation Charts Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis. "Adapt what is useful, reject what is useless, and add what is specifically your own." — David Perk aka Dave FX Hunter ⚔️
Short
by David_Perk
2
USDCAD Bears Gain Momentum Below Resistance WallUSDCAD 8D TECHNICAL ANALYSIS OVERALL TREND 📉 DOWNTREND — Confirmed by multiple moving averages stacked bearishly and recent breakdown from a Pivot High at 1.46560. The Trend Score reads -0.10, signaling growing bearish sentiment, though the current downtrend confidence is moderate (4.8%). 🔴RESISTANCE ZONE 🔴 1.47937 — PIVOT HIGH | SELL STOPLOSS 🔴 1.46560 — SELL ORDER 2 🔴 1.43772 — SELL ORDER 1 🎯ENTRIES & TARGETS 🎯 1.38464 — SELL ORDER & TP 1 🎯 1.34004 — SELL ORDER & TP 2 | Mid-Pivot 🎯 1.30718 — SELL ORDER & TP 3 🎯 1.25643 — EXIT SELL | TP 4 🟢SUPPORT ZONE 🟢 1.24442 — BUY ORDER 1 🟢 1.21463 — BUY ORDER 2 🟢 1.20070 — PIVOT LOW | BUY STOPLOSS 📊INDICATOR SUMMARY RSI @ 37 — Near oversold, but neutral MACD — Bearish divergence confirmed (Sell) Momentum — Weak bullish rebound (Buy) Stochastic %K — Neutral but nearing oversold (14.64) Major Moving Averages — Mostly bearish alignment (20/30/50/100/200 EMAs & SMAs all showing Sell) 🤓STRUCTURAL NOTES Bearish engulfing candle near 1.43772 resistance confirms sell-side pressure Price rejected near the Pivot High zone (1.46560) and has broken below short-term support EMA/SMA crossover downward confirms bearish acceleration Volume Weighted MA also supports a downside continuation TRADE OUTLOOK 🔎 📉 Short Bias — Valid below 1.43772 with target zones between TP1 @ 1.38464 and TP4 @ 1.25643 📈 Long setups only initiate below 1.24442 support bounce with confluence at the BUY STOP zone (1.20070) 👀 Watch price action at 1.38464 and 1.34004 — key decision zones for mid-trend reversal or continuation 🧪STRATEGY RECOMMENDATION CONSERVATIVE APPROACH (Trend-Following): — Entry: 1.43772 retest — TP Levels: 1.38464 / 1.34004 / 1.30718 / 1.25643 — SL: Above 1.46560 AGGRESSIVE APPROACH (Breakout Pullback): — Entry: On break and close below 1.38464 — TP: 1.34004 / 1.30718 / 1.25643 — SL: Above 1.40900 “Discipline | Consistency | PAY-tience™” — Let the chart speak and the setup confirm.
Short
by ProfessorCEWard
#USDCAD: 1000+ Pips Big Bullish Move With Three TargetsThe USDCAD is currently in a bearish trend since the day has dropped significantly and is still falling. We anticipate the price to drop slightly more before it reaches our entry zone. There are two entry points, and you can choose either one that aligns with your views. There are three targets, and you can set take profit targets that suit you best. Good luck and trade safely. Thanks for your support! 😊 If you want to help us out, here are a few things you can do: - Like our ideas - Comment on our ideas - Share our ideas Team Setupsfx_ ❤️🚀
Long
by Setupsfx_
17
USDCAD Long 4/24/2025USD/CAD Long Setup – 4H Demand Bounce + Fib Confluence Ahead of Jobless Claims Looking to long USD/CAD based on a confluence of technical structure and macro catalysts. Daily Chart: Yesterday printed a bullish engulfing candle, signaling strong buyer intent and continuation of the broader uptrend. 4H Chart: Price pulled back into a 61.8% Fibonacci retracement of the recent leg, aligning perfectly with a well-defined 4H demand zone. Importantly, no 4H candle has closed below the body of the previous bullish engulfing, suggesting buyers are holding control. Trade Expectation: Expecting this to be a correction within a trend, not a reversal — looking for a continuation that retests the highs and pushes for a breakout beyond 1.3900. Fundamental Catalyst: Today’s U.S. unemployment claims release will be the key driver. A lower-than-expected print could fuel USD strength and send this pair accelerating to new short-term highs. Target Zone: First target is a retest of the recent high; extended target is a break above 1.3900, which opens the door to higher timeframe expansion. Stop: Just below the 4H demand zone, respecting the structural invalidation of the Fib level. This is a clean trend-continuation play with both technical alignment and fundamental tailwinds.
Long
by Big6Financial