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U.S. Dollar / Canadian Dollar

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USDCAD trade ideas

#USDCAD 1HUSDCAD (4H Timeframe) Analysis Market Structure: The price has broken above a key resistance level and is currently showing signs of a retest. A successful retest of the broken resistance as support indicates that buyers are maintaining control, suggesting potential for further upward movement. Forecast: A buy opportunity can be considered if the price confirms the retest and starts to show bullish momentum, supporting the continuation of the breakout move. Key Levels to Watch: - Entry Zone: Look for buying signals around the retest area of the previous resistance turned support. - Risk Management: - Stop Loss: Placed below the retest support zone to manage downside risk. - Take Profit: Aim for higher resistance zones or key Fibonacci extension levels as potential targets. Market Sentiment: The breakout followed by a retest suggests a shift toward bullish sentiment. However, proper confirmation through bullish candlestick patterns or momentum indicators is advised before entering the trade.
Long
by PIPSFIGHTER
USDCAD 15-Min Setup: Buyers Defend Crucial ZoneGood morning traders, Trust you are doing great. Kindly go through my analysis of USDCAD currency pair. Overview The USDCAD M15 chart presents a bullish price setup around the 1.38350–1.38410 support zone, with current price action consolidating just above this area. Idea Price bounced off the key support zone (blue box), suggesting buyer interest. The BB Squeeze momentum indicator shows weakening selling pressure, which could signal an upcoming bullish move. Key Support: 1.38350 Upside Targets: 1.38650, 1.38880, and 1.39039 Invalidation: Setup fails if price breaks below 1.38280 From the fundamental context, we can see that the Canadian dollar (CAD) is moving more in sync with the U.S. dollar (USD) again, a return to its historical behavior. This happens because Canada was spared from certain tariffs, making its economy more closely tied to U.S. growth sentiment—a key bullish factor for CAD when the USD strengthens. But because CAD is now closely tied to U.S. sentiment, CAD won't weaken as sharply, which might explain why the price is consolidating instead of spiking aggressively. As such, we might see a slow but steady move on the pair as time progresses. Conclusion As long as the price holds above the 1.38350 support zone, a bullish continuation toward the mentioned targets is likely. Cheers and happy trading.
Long
by Samuel124
1
USD/CAD – Major Trendline Rejection + Bullish Reversal ZoneUSD/CAD is currently forming a bullish reversal setup on the weekly timeframe, suggesting a potential longer-term move to the upside. Right now, the price is rebounding from a long-term ascending trendline, which has acted as dynamic support since 2021. This level also aligns with a prior resistance-turned-support zone, adding confluence. Volume has spiked recently, signaling strong market interest at this level. ⚠️ If price holds above 1.3800 and breaks above the recent weekly highs, we could see a bullish continuation toward the 1.4650–1.4800 supply zone. 🎯 🔹 Trade Setups to Consider: 1️⃣ Weekly Trendline Bounce Entry 📍 Entry: 1.3886 🛑 Stop Loss: 1.3723 🎯 Targets: 1.4140 ➡️ 1.4650 2️⃣ Breakout & Retest Entry 📍 Entry: 1.4140 (on retest after breakout) 🛑 Stop Loss: 1.3950 🎯 Target: 1.4800 📌 Risk Management Tip: This setup is based on a higher timeframe, so wider stops and longer holding periods are expected—size your positions accordingly. 💬 What’s your view on USD/CAD? Drop your thoughts below 👇 #Forex #TradingSetup #WeeklyChart #PriceAction #TechnicalAnalysis #TradeIdeas #USDCAD #TrendlineSupport #BullishReversal #MacroSetup
Long
by ByteSignals
2
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 – 4H Bullish Divergence Setting Up for a Potential ReversUSDCAD – 4H Bullish Divergence Setting Up for a Potential Reversal 🚀🔄 Hey traders 👋 USDCAD is flashing some early signs of a potential trend shift on the 4H chart, and it’s coming straight from one of the most reliable clues in technical analysis — bullish divergence. Let’s walk through it. 📈 Price Making Lower Lows, But RSI Isn’t So here’s what’s happening: price action has been sliding lower, printing a series of lower lows — looks bearish on the surface, right? But when you peek under the hood and check out the RSI, you’ll notice something interesting. The RSI is actually making higher lows during the same period. That’s classic bullish divergence, and it’s usually a sign that selling pressure is weakening, even if price hasn’t caught up to that idea yet. Momentum is starting to shift, and the bulls may be loading up in the background. 🔍 What This Means This setup tells us that while bears have been in control, they’re losing strength. Buyers are quietly stepping in, and if price confirms with a breakout or a structure shift — we might be looking at a solid reversal opportunity. These divergences can often be the first clue before a full-blown reversal. Not something to trade blindly, but definitely something to prepare for. 💡 Watch For Confirmation Look for structure breakouts (trendline cracks, minor resistance flips, etc.) Volume rising on bullish candles = extra confidence A strong bullish engulfing candle or a higher low can be a great signal to jump in Patience is key here. Let the market show its hand, then act. 📌 The Setup Looks Promising – But Timing Is Everything. Are you spotting the same divergence? Or waiting for more signs before stepping in? #USDCAD #Forex #BullishDivergence #4HChart #RSI #TrendReversal #ForexTrading #PriceAction #SmartMoney
Long
by MAAwan
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
3
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