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U.S. Dollar / Canadian Dollar

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USDCAD trade ideas

USD/CAD breaks 1.41000 as CAD weakens to near 4yr lowsThe USD/CAD pair has reached 1.41057, the CAD's lowest since May 2020, driven by strong US dollar demand amid market speculation about Trump's return. Inflation-driven policies could limit the Fed's rate cut capacity, bolstering the dollar. Additionally, falling oil prices and concerns over China’s economic growth weigh on the Canadian dollar, given Canada's reliance on exports and energy. Potential US import sanctions add pressure by threatening Canadian exports. Despite these challenges, Canada's economy shows resilience with lower-than-expected unemployment and strong PMI data, limiting further CAD declines. The US dollar index hovers around 106.5, fueled by robust retail sales and economic strength, reducing the urgency for imminent rate cuts. Looking ahead, traders should monitor US policy changes, oil price trends, and Canadian economic indicators to anticipate movements in USD/CAD effectively.
by tastyfx
Average True Range ExplainedOriginally developed for commodities, the Average True Range (ATR) indicator is a versatile tool used across various asset classes, like forex pairs and more. ATR helps traders gauge market volatility and make informed decisions, as ATR is essentially a moving average of a market's true range. For traders, this is essential information because it explains how much an asset “moves on average” based on specific starting and ending points selected by the trader. This way, you can be prepared for specific moves when they happen. For example, if a market typically moves 20 points per day, and it has already moved 25 points, you might reconsider trading based on another indicator's signal. To find the true range, you need three values: 1. Current high minus current low 2. Current high minus previous close 3. Current low minus previous close The true range is the greatest of these three values. ATR typically averages the true range over the last 14 sessions, but this can be adjusted based on your trading strategy and personal preference. How do you trade with ATR? ATR is a key indicator of market volatility, aiding traders in evaluating opportunities and being a helpful component in setting stops and limits. ATR shows how much a market usually moves in a day; therefore, ATR can help set realistic profit targets and stop losses. For instance, if a market normally moves 20 points per day, aiming for a 50-point profit might be unrealistic, depending on your strategy. By understanding and utilizing ATR, traders can better navigate market volatility and make more informed trading decisions. Did you learn something new? Our team of researchers and market specialists will be sharing more educational content so be sure to follow our TradingView account for instant updates. Also, be sure to check out our latest ideas here . -- FOREX.com
by FOREXcom
USDCAD BULLISH PROFITABLE IDEA#USDCAD is at a bullish sentiment, what we can do from the previous price action is observed the previous Break of structure in the bullish direction. It is important to note hoe the break of structure took place , and as we see there was formation o structure which resulted in an impulsive market action resulting to the break, this area has been untapped till now of any pending liquidity in support of the bullish trend What to do ? Wait or the price action to mitigate this area and look for a suitable entry position based on your entry techniques, esp before the news. #all the best.
Long
by DIGITALASSETSINC
Sell OpportunityUSD/CAD Short Signal Entry Price: 1.4035 Stop Loss: 1.40716 Take Profit: 1.38148 Risk/Reward Ratio: 1:1.59 Time Frame: 4H Signal Analysis: The price has reached a potential resistance area, with a visible bearish volume profile zone above. Momentum indicators show signs of potential weakness, suggesting a pullback or reversal in the USD/CAD pair. Recommendation: Consider entering a short position at the specified entry price, with a stop loss at 1.40716 and a target of 1.38148. Monitor any changes in volume and volatility, as they may affect the trade outcome.
Short
by GODOCM
USDCAD - CAD look at the oil market!The USDCAD currency pair is above the EMA200 and EMA50 in the 4H timeframe and is moving in its upward channel. Due to the location of this currency pair at the ceiling of the channel, you can save a part of your purchase position. The correction of this currency pair towards the demand zones will provide us with the next buying positions. Monetary Policy in Canada • Interest Rate Cuts: Goldman Sachs forecasts that the Bank of Canada will cut interest rates by 50 basis points in December (previous forecast: 25 basis points). It is expected that this downward trend will continue, reaching a terminal rate of 2.25% by June 2025 (previous forecast: 2.50%). Oil Developments in the U.S. • Crude Oil Production: U.S. crude oil production has reached 13.23 million barrels per day this year, slightly higher than the previous figure of 13.22 million. For 2024, production is forecasted at 13.53 million barrels per day (a minor decrease from the previous forecast of 13.54 million barrels). • Crude Oil Prices: The average price of Brent oil in 2024 is projected at $80.95 per barrel (slightly higher than the previous forecast of $80.89). For 2025, the average is expected to decline to $76.06 per barrel (previous forecast: $77.59). The average price of West Texas Intermediate (WTI) oil is estimated at $77 per barrel in 2024 and $71.6 in 2025, slightly below earlier projections. Oil Demand: • U.S. oil demand for 2024 and 2025 is estimated at 20.3 million and 20.5 million barrels per day, unchanged from previous forecasts. OPEC and Production Adjustments: • Lower Global Demand Growth Forecasts: OPEC has reduced its forecasts for global oil demand growth in 2024 and 2025 to 1.82 and 1.54 million barrels per day, respectively (previous forecasts: 1.93 and 1.64 million). • Increased OPEC Production: OPEC’s average crude production in October rose to 26. 53 million barrels per day, a 466,000-barrel increase from September, primarily due to higher output from Libya. Geopolitical Issues and Iran’s Oil Policies • Iran’s Response to Sanctions: Iran’s oil minister announced that plans have been developed to maintain stable oil exports to counter potential policies from Donald Trump’s administration. • Negotiations Between Iran and the U.S.: Iranian sources reported that Tehran postponed an attack on Israel after Trump’s election to facilitate potential negotiations. Messages conveyed through Baghdad included recommendations to avoid escalating tensions and create an opportunity for talks. Developments in Lebanon and Israel • Ceasefire negotiations in Lebanon are nearing conclusion. Israeli sources have confirmed alignment between the U.S. and Israel on the ceasefire agreement. However, Lebanon’s situation remains complex, with ongoing discussions between Hezbollah, the parliament speaker, the prime minister, and U.S. officials.
Long
by Ali_PSND
USDCAD I Bearish divergence & strong supply "short" zone Welcome 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!
Short
by BKTradingAcademy
5
USDCAD LONG TERM VIEWIf the price has to reverse then it should reverse from the point where it is currently trading (1.3628), beyond this point price will move to 1.3794 from where it can reverse back to 1.3380 which could be strong support for the huge rally that could lead to break the last high of 1.4677 and can set a new record high. The dotted red lines indicates the possible resistance points. The solid red line is the strong resistance line, above that point will open the way up to 1.3988 and beyond.
Long
by taranquilo
GBPUSD Wave Analysis 14 November 2024 - GBPUSD reversed from strong support level 1.2665 - Likely to rise to resistance level 1.2840 GBPUSD currency pair recently reversed up from the strong support level 1.2665 (former monthly low from August), standing close to the lower daily Bollinger Band and the 61.8% Fibonacci correction of the upward impulse from April. The upward reversal from the support level 1.2665 created the daily Japanese candlesticks reversal pattern Hammer Doji. Given the strength of the support level 1.2665 and the oversold daily Stochastic, GBPUSD currency pair can be expected to rise to the next resistance level 1.2840, former support from the end of October.
Long
by FxProGlobal
USD/CAD Short EntryLooking at the current formation of the broadening wedge at the current peaks on USDCAD. Will wait until we break the shown level of support and/or confirm breakout under the bottom trend with a 4HR Retest. Risk/Reward 2:1 Will Re-evaulate trade periodically and update as I see fit. With how crazy bullish USD has been lately I will not be jumping in early in hopes for a better position as there is the possibility the pattern will invalidate pushing USD/CAD even higher
Short
by Nicholas_k
6