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U.S. Dollar / Canadian Dollar

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USDCAD trade ideas

Idea for next week.What a great chart on point let's wait for the charts to open.The Canadian Dollar (CAD) is little changed against the USD, with spot holding close to 1.38 on the day. The CAD’s slide against the USD steadied through mid-week which was not unexpected, given the extended and sustained drop seen since the start of the month, Scotiabank’s Chief FX Strategist Shaun Osborne notes. CAD holds little changed near 1.38 “USD/CAD gains looked stretched relative to our fair value estimate at the start of the week and while the CAD has been able to stabilize, headwinds remain significant—especially from the cash bond and swap spread perspective where the risk of a November hold decision from the Fed and a 50bps cut by the BoC next week has driven differentials wider.”
by EZIO-FX
USDCAD Will Go Higher From Support! Buy! Please, check our technical outlook for USDCAD. Time Frame: 1D Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is testing a major horizontal structure 1.380. Taking into consideration the structure & trend analysis, I believe that the market will reach 1.394 level soon. P.S We determine oversold/overbought condition with RSI indicator. When it drops below 30 - the market is considered to be oversold. When it bounces above 70 - the market is considered to be overbought. Like and subscribe and comment my ideas if you enjoy them!
Long
by SignalProvider
2
USDCAD: Continuous Failed Break (2 year trials)Currently this pair is displaying a continuous consolidation structure, with high bullish pressure, the entire outlook is centered around an uprising triangle pattern which usually lure buyers to trade this setup. On the other hand, based on the sentiments of the week retailers are 95% base on shorts position. In addition, the BOC have provided insight on a JUMBO rate-cut of 50 BPS ratio next week specifically on Wednesday. The implemented rate could supply more printed notes in the economy and decrease the price of the Canadian Dollars. USDCAD have been in a Zombie phase for the past 2 years and unable to break 1.39500 point-level, could the incoming rate come with enough momentum to uplift all buyers expecting to go beyond the unbreakable level !!!
Long
by PHANTAMINUS
2
USDCAD: Short position triggered by resistance bounce!USDCAD has been on a steady upward trajectory since the start of October, experiencing an impressive nine consecutive bullish days. This rally has propelled the price to critical levels on both the weekly and daily charts. As the pair approaches the key resistance zone, signs of fatigue are becoming evident; the candles are shrinking in size, suggesting a waning momentum as buyers struggle to maintain control. When examining the broader context, it becomes clear that the price has faced significant resistance at the 1.38500 level on multiple occasions, leading to sharp pullbacks in the past. This historical resistance suggests that a reaction is likely as the price nears this threshold once again. Given these dynamics, I anticipate that the market may develop at least a short-term pullback from this resistance. If a rejection candle forms, indicating sellers stepping in, we could see the price begin to decline. This expectation aligns with the current market sentiment, where the upward momentum appears to be losing steam. However, traders should remain cautious as today is packed with economic news related to the Canadian dollar, which could introduce increased volatility into the market. This news may result in significant price swings, characterized by notable wicks in both directions as market participants react to the data. My target for this trade is the support level at 1.36650. A retracement toward this level could provide a favorable entry point for short positions if the resistance holds firm. Monitoring the price action around the 1.38500 area will be crucial; a clear rejection here could signal a shift in momentum and open the door for potential downside movement. In summary, while USDCAD has exhibited a strong bullish trend recently, the approach of the resistance zone at 1.38500 raises the possibility of a pullback. Traders should be vigilant for signs of rejection and prepare for the potential volatility stemming from CAD-related news, which could shape the price action significantly. A move towards 1.36650 would be a logical target for shorts, should the market react as anticipated.
Short
by lonelyPlayer0
1
USDCAD Weekly Chart Analysis for Position Traders💥 Get ready for a potential massive move on USDCAD! 💥 📊 This week, USDCAD printed a fresh IFVG (Inefficiency Fair Value Gap), signaling a trend reversal. What does this mean? Buckle up, because I believe we could be headed for 1.5400 📈 in the coming months, with a relatively equal high target at 1.4800. Any sudden dips in USDCAD are golden BUY opportunities! 🔥 💡 Retail traders, pay attention! While many are betting that potential rate cuts will weaken the USD, they might be in for a BIG surprise! Rate cuts don’t mean a weak dollar – they signal that the economy needs lower rates to support growth. 💰 Did Powell just drop a hint that a recession might be looming over the US? 🤔 With interest rates now back to levels we saw prior to the Global Financial Crisis (GFC), things could be heating up! 🚀 Position traders – this is your time to capitalize! Keep your eyes peeled for those key levels and stay sharp! 📉👉📈 Happy trading!
Long
by Mike_SnD
USDCAD Trendline Breakout Ready for a Long SellHello Traders In This Chart EURUSD HOURLY Forex Forecast By FOREX PLANET today EURUSD analysis 👆 🟢This Chart includes_ (EURUSD market update) 🟢What is The Next Opportunity on EURUSD Market 🟢how to Enter to the Valid Entry With Assurance Profit This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Charts
Long
by ForexMasters2000
1
USDCAD might build another leg upThe Canadian dollar continues to weaken against the US dollar amid reevaluating the FED's monetary policy expectations. Given the strong price discovery on USDCAD (it had jumped off the dynamic support of 20 and 50 moving averages for more than 3 daily volatility values), it may continue going up, after it completes the consolidation as shown in the chart. Should the trendline be visible, it might represent a decent opportunity with low risk and extended reward. Breakout trades are usually quick and don't require a wide stop. Remember to always manage your risk!
Long
by Stanislav_Bernukhov_Exness
Market Analysis: USD/CAD Remains in UptrendMarket Analysis: USD/CAD Remains in Uptrend USD/CAD is rising and might aim for more gains above the 1.3820 resistance. Important Takeaways for USD/CAD Analysis Today - USD/CAD is showing positive signs above the 1.3745 support zone. - There was a break above a major bearish trend line with resistance at 1.3765 on the hourly chart at FXOpen. USD/CAD Technical Analysis On the hourly chart of USD/CAD at FXOpen, the pair formed a strong support base above the 1.3600 level. The US Dollar started a fresh increase above the 1.3700 resistance against the Canadian Dollar. The bulls pushed the pair above the 1.3750 and 1.3765 levels. Recently, there was a break above a major bearish trend line with resistance at 1.3765 and the 50-hour simple moving average. The pair climbed above the 50% Fib retracement level of the downward move from the 1.3838 swing high to the 1.3746 low. If there is another increase, the pair might face resistance near the 1.3800 level or the 61.8% Fib retracement level of the downward move from the 1.3838 swing high to the 1.3746 low. A clear upside break above 1.3800 could start another steady increase. The next major resistance is the 1.3820 level on the same USD/CAD chart. A close above the 1.3820 level might send the pair toward the 1.3840 level. Any more gains could open the doors for a test of the 1.3910 level. Initial support is near the 1.3780 level. The next major support is 1.3765. The main support sits near the 1.37450 zone. A downside break below the 1.3745 level could push the pair further lower. The next major support is near the 1.3700 support zone, below which the pair might visit 1.3650. 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
Potential bullish rise?USD/CAD has reacted off the support level which is an overlap support that lines up with the 23.6% Fibonacci retracement and could rise from this level to our take profit. Entry: 1.3787 Why we like it: There is an overlap support level that lines up with the 23.6% Fibonacci retracement. Stop loss: 1.3774 Why we like it: There is an overlap support level that aligns with the 50% Fibonacci retracement. Take profit: 1.3825 Why we like it: There is a pullback resistance level. 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
Usdcad could experience a significant drop in the coming daysUsdcad could experience a significant drop in the coming days. As always, it's essential to apply proper money management and never trade without placing an appropriate stop-loss. Remember, trading is a game of probabilities, so your success should be measured over a series of trades, not just one. Guys always read this quote.It will help you mentally."I just wait until there is money lying in the corner, and all I have to do is go over there and pick it up. I do nothing in the meantime. Even people who lose money in the market say, 'I just lost my money, now I have to do something to make it back.' No, you don't. You should sit there until you find something.” “Jim Rogers: Thanks!
Short
by MohammedFaysal
USD/CAD: What to Expect from BoC Next Week? USD/CAD: What to Expect from BoC Next Week? Canada’s central bank is set to announce its next rate decision on Oct. 23, with Canadian banks largely anticipating a 50-basis-point cut. A similar reduction is also expected at the BoC's final meeting of the year on Dec. 11. For the exact date and time of these major economic events, import the BlackBull Markets Economic Calendar to receive alerts directly in your email inbox. The prospect of back-to-back cuts is weighing heavily on the Canadian dollar, which touched to a two-month low of 1.383 against the U.S. dollar on Tuesday. Technical indicators, including moving averages, suggest a potential short-term bullish trend for the pair. Meanwhile, in the U.S., Minneapolis Fed President Neel Kashkari indicated this week that any future rate cuts from the Federal Reserve could be "modest." Which the market might be interpreting as a bias for a smaller 25-basis point cut.
by BlackBull_Markets
Protect The Pain Trade: UCAD/EJ+NCHF (TRIANGULAR ARBITRAGE)To protect against a potential pain trade while executing triangular arbitrage involving USDCAD, EURJPY, and NZDCHF, you can use this strategy to identify discrepancies in exchange rates across these pairs and capitalize on arbitrage opportunities while managing downside risk. Here’s a potential breakdown: 1. Triangular Arbitrage Basics: In triangular arbitrage, you attempt to exploit differences in quoted exchange rates across three currencies. Here’s how it might look with the pairs you’ve mentioned: USDCAD (USD to CAD) EURJPY (EUR to JPY) NZDCHF (NZD to CHF) The goal is to convert one currency into another in a sequence of trades, moving through the other pairs, and then back into the original currency. If there’s a price discrepancy, you profit from the difference. 2. Potential Arbitrage Execution: Let's assume you start with USD as your base currency: Step 1: Convert USD into CAD using the USDCAD exchange rate. Step 2: Use the CAD to buy EUR (by synthesizing a CAD-to-JPY-to-EUR trade via EURJPY). Step 3: Convert EUR to CHF via EURJPY or indirectly through NZDCHF, depending on relative exchange rates. Step 4: Finally, convert CHF back to USD using NZDCHF and then USDCHF. You aim to finish with more USD than you started, capturing the arbitrage. 3. Protecting the Pain Trade: Protecting against losses, also known as the pain trade (where an adverse market move leads to losses), can be done by: Hedging: Use options or stop-loss orders on one of the three pairs to hedge your exposure during the arbitrage process. Position Sizing: Keep positions small to minimize exposure to sudden market volatility. Timing and Liquidity: Execute trades during high liquidity periods (London/New York overlap) to avoid slippage. Risk Limits: Establish risk thresholds for each leg of the arbitrage. If a pair’s price moves out of the expected arbitrage zone, it triggers an automatic close to avoid large losses. 4. Monitoring Volatility: The pairs chosen—USDCAD, EURJPY, and NZDCHF—often behave differently in response to global market events. Keep an eye on central bank announcements, trade data, or geopolitical events that could increase volatility in one or more pairs. By combining careful execution, monitoring, and risk management techniques, you can protect your arbitrage trades while capturing profits from discrepancies across these pairs.
Long
by moneymagnateash