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U.S. Dollar / Canadian Dollar

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USDCAD trade ideas

USD/CAD: Eyes on inflation as reversal sets stage for downsideThe Canadian dollar delivered a reversal signal against the greenback on Monday, with USD/CAD printing a bearish engulfing candle on the daily chart. After trading within an uptrend since early November, this suggests directional risks could be turning, even if momentum indicators like RSI (14) and MACD are yet to confirm. USD/CAD briefly tried to bounce during the Asian session but stalled at 1.4034, the low from last Friday. For those considering shorts, this level provides a decent setup, allowing for entry beneath with a tight stop above for protection. To make the trade stack up from a risk/reward perspective, it will require the price to break minor support at 1.4003 first, opening the path toward 1.3959, a level that acted as resistance in late October and early November. Today’s inflation report is a standout in a slow global data week. The annual CPI rate is expected to climb from 1.6% to 1.9% in October, nearing the midpoint of the Bank of Canada’s (BoC) 1-3% target range. Core inflation, which is the average of Statistics Canada’s trim and median CPI readings, is expected to print at 2.4%, slightly above September’s pace. With the BoC forecasting core inflation of 2.3% by December, a result in line with market expectation should do little to diminish the view that further rate cuts are in the pipeline. However, an upside surprise could see the BoC start to slow the pace of easing. Such an outcome would improve the prospects of the trade succeeding. Good luck! DS
Short
by FOREXcom
Potential bearish drop?The Loonie (USD/CAD) has reacted off the pivot and could drop to the 1st support which acts as a pullback support. Pivot: 1.4041 1st Support: 1.3959 1st Resistance: 1.4105 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.
Short
by ICmarkets
USDCAD H1 - Stress-Free Clear Charts.Stress-Free Clear Charts. (Required 10 years in R&D.) In this layout, we see these indicators: (From top to bottom of the screen) -Angle: Shows the Angle of the Trend. -Bear&Bull Powers: Displays who are in Power, the Bulls or the Bears. -Strength: Shows the Strength of the Trend. -Template: Always clearly shows the direction and precisely where to open and close (where to flip position). We open at the beginning of the Trend and stay in all the way till the end, stress-free. Turns perfectly. -Performance: We see where to enter and close, the pullbacks and the performance. -Odds: Shows the Odds everywhere. -Probability: Shows the Probability all the way. -Compare Forex: We see the performance of each currency of the Pair on chart. Each line is one currency. USD in Red. CAD in White. When the USD is above the CAD, the USDCAD pair goes up. And vice versa, when the USD is below the CAD, the USDCAD pair goes down. The background color displays the intensity of the trend.
by ascension
USD/CAD continue with the UptrendOn USD/CAD , it's nice to see a strong buying reaction at the price of 1.40460. There's a significant accumulation of contracts in this area, indicating strong buyer interest. I believe that buyers who entered at this level will defend their long positions. If the price returns to this area, strong buyers will likely push the market up again. FVG + Uptrend and high volume cluster are the main reasons for my decision to go long on this trade. Happy trading Dale
by Trader_Dale
USD/CAD H1 | Potential bounce off overlap supportUSD/CAD is falling towards an overlap support and could potentially bounce off this level to climb higher. Buy entry is at 1.4070 which is an overlap support that aligns with the 50.0% Fibonacci retracement level. Stop loss is at 1.4020 which is a level that lies underneath a pullback support and the 23.6% Fibonacci retracement level. Take profit is at 1.4142 which is a level that aligns with the 78.6% Fibonacci projection 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 (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.
Long
by FXCM
Market Analysis: USD/CAD Regains StrengthMarket Analysis: USD/CAD Regains Strength USD/CAD is rising and might aim for more gains above the 1.4100 resistance. Important Takeaways for USD/CAD Analysis Today - USD/CAD is showing positive signs above the 1.4000 support zone. - There is a connecting bullish trend line forming with support at 1.4040 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 1.3840 level. The US Dollar started a fresh increase above the 1.3930 resistance against the Canadian Dollar. The bulls pushed the pair above the 1.3980 and 1.4000 levels. The pair cleared the 50-hour simple moving average and climbed above 1.4040. A high was formed at 1.4105 and the pair recently corrected some gains. There was a move toward the 23.6% Fib retracement level of the upward move from the 1.3930 swing low to the 1.4105 high. Initial support is near the 1.4065 level. The next major support is near a major bullish trend line at 1.4040. The main support sits near the 1.4000 zone on the same USD/CAD chart. It is close to the 61.8% Fib retracement level of the upward move from the 1.3930 swing low to the 1.4105 high. A downside break below the 1.4000 level could push the pair further lower. The next major support is near the 1.3930 support zone, below which the pair might visit 1.3840. If there is another increase, the pair might face resistance near the 1.4105 level. A clear upside break above 1.4105 could start another steady increase. The next major resistance is the 1.4150 level. A close above the 1.4150 level might send the pair toward the 1.4200 level. Any more gains could open the doors for a test of the 1.4280 level. 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
USD/CAD steal bullish OKay as you can see we steal on a bullish scenario where the price its looking to get more and more to the upside, so we have certain limits if we want the price to hit a new high, first of all we will enter in the new york sesion in a long position looking oviously for buys in the 2H orderblock but the entry is on 5min that its the best timeframe for day trading, looking for more objectives you can put your TP near the last high that the last NY sesion let to us, use your stoploss as you want to use it but be safe and remember using the correct risk manegment strategy
Long
by hcarbajal12