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USDCAD trade ideas

1-hr USD/CAD: Downward Momentum Could Extend The Death Cross, a classic bearish signal where the 20-day moving average dips below the 60-day moving average, confirms that sellers are in control of USD/CAD. The pair has already declined by 150 pips, with another 100 pips of downside potential if it moves to retest the previous support at 1.3850. Over the past few hours, a 40-pip pullback occurred, but buying momentum appears weak as the price faced resistance near the 23% Fibonacci retracement at 1.3970. Sellers may look for better entry points to maximize profits from the prevailing downward momentum. A potential retest of the 1.3995 zone, corresponding with the 38% Fibonacci retracement level, could provide an ideal selling opportunity, aligning with the broader bearish trend. This setup underscores the likelihood of continued selling pressure, particularly if resistance levels hold and downside targets are revisited.
Short
by Trendsharks
Falling towards the 38.2% Fibonacci support?The Loonie (USD/CAD) is falling towards the pivot and could bounce to the 1st resistance. Pivot: 1.3850 1st Support: 1.3649 1st Resistance: 1.4000 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Long
by ICmarkets
USDCAD H1 | Bearish ReversalBased on the H1 chart analysis, we can see that the price is rising toward our sell entry at 1.3972, which is a pullback resistance and a 50% Fibonacci retracement. Our take profit will be at 1.3930, a swing low support level. The stop loss will be at 1.4020, a swing high resistance level. 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, previously FXCM EU 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.
Short
by FXCM
CANADIAN DOLLAR M15 OUTLOOK OUTLOOK : bearish outlook in usdcad but we are trying to find a bearish scenario in market with confirmation , market is at the daily support , so we gonna try for sell opportunity . TECHNICAL ANALYSIS : technically , usdcad in chart we can see RSI indicator shows the fully bearish look in the market , however Bollinger bands shows also bearish trend so trying sell is better. SNR : key support levels for usdcad are at 139350 and 139563 and the resistance levels 140214 . TRADING STRATEGY : based on our analysis , we recommend a short positin in usdcad so be careful this market if wanna make money you have to use your money management and control your emotions , we always trade smarter . BEST WISHES TOM 😎
Short
by Tom_Trades_670
USDCAD BULLISH MOMENTOMOverview Currency Pair: USD/CAD Timeframe: 4-hour chart Current Price: 1.38372 USD/CAD (with a slight decrease of 0.00038 or -0.03%) Key Levels Buy Stop: 1.40400 Stop Loss (SL): 1.38874 Take Profit (TP): 1.41532 The chart shows a recent downward movement, indicating a bearish trend. This decline is evident from the current price of 1.38372. Stop Loss (SL) at 1.38874 acts as a critical support level. If the price drops below this, it could indicate further downside movement. Low Price: 1.35686 provides a historical support level. Take Profit (TP) at 1.41532 is the immediate resistance level. If the price reaches this level, it indicates potential selling pressure. High Price: 1.41058 is another significant resistance level. Consider entering a buy position near the Buy Stop level of 1.40400. This level is strategically placed above the current price, indicating a potential upward breakout. Monitor for bullish candlestick patterns (e.g., hammer, bullish engulfing) near this level to confirm the buy entry. increased trading volume near the buy stop and take profit levels can confirm strong buying or selling interest.
Long
by sicmine
idea on for next week.USD/CAD ticks down after the Canadian Retail Sales data came in line with expectations and the prior release. Steady Canadian Retail Sales growth would weigh on BoC's large rate-cut bets. Investors await the flash US S&P Global PMI data for November. The USD/CAD pair surrenders its entire intraday gains and ticks down as the Canadian Retail Sales data grew steadily in September and the US Dollar (USD) gives up a majority of its intraday gains after refreshing a two-year high. Statistics Canada showed that Retail Sales, a key measure of consumer spending that drives inflation, rose by 0.4%, in line with estimates for the month. Steady sales were driven by higher spending on food and beverages, while sales receipts at gasoline stations were lower. Steady growth in the consumer spending measure is expected to weigh on market expectations that the Bank of Canada (BoC) will cut interest rates consecutively for the second time by 50 basis points (bps).
by EZIO-FX
USDCAD I In correction and more growth to comeWelcome back! Let me know your thoughts in the comments! ** USDCAD Analysis - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support!Welcome back! Let me know your thoughts in the comments!
Long
by BKTradingAcademy