USDCAD | 11.12.2024SELL 1.41850 | STOP 1.42400 | TAKE 1.41000 | Pattern correction from local maximum price range.
USDCAD trade ideas
Bid and Ask ExplainedDo you know what Bid or Ask means? If you’re a trader, you should keep reading if these terms sound unfamiliar to you, or you are unsure. After all, they are the terms used to explain the buying and selling process within markets.
Let’s get started! When you look at a tradable financial market, you'll notice two prices listed: the bid and the ask. Here's a quick guide to help you understand these core concepts:
1. Bid : the price at which you can sell (this is the price where someone is “bidding” to buy it at).
2. Ask : the price at which you can buy (this is the price where someone is “asking” to sell it at).
The bid price is always lower than the ask price. This is just Business 101, as buyers are trying to get a better deal than sellers. So, they bid lower than the ask.
What is Spread?
The spread is the difference between the bid and the ask prices. It's essential for calculating your potential profit or loss from a trade.
Example : If EUR/USD is trading at 1.1259, the bid might be 1.1257 and the ask 1.1260. To buy EUR/USD, you would enter at 1.1260. For any profit, the bid price must rise above 1.1261. If EUR/USD moves up two pips to 1.1261 but the bid remains at 1.1259, you would break even.
Understanding these basics can help you make more informed trading decisions. Happy trading!
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Optimism for the Gopher or its smoke and mirrors?USDCAD seems to be continuing with its long term Bullish trend. Is this some kind of a trap or its indeed on ascension?
#USDCAD 4HUSDCAD 4-Hour Analysis
The USDCAD pair is forming a wedge pattern on the 4-hour chart, with price action showing signs of bearish pressure near the resistance area. Additionally, a sell engulfing candlestick has appeared, reinforcing the likelihood of a downside move. This confluence of bearish signals provides a potential sell opportunity.
Technical Outlook:
Pattern: Wedge and Sell Engulfing Area
Forecast: Bearish (Sell Opportunity)
Entry Strategy: Enter a sell position upon confirmation of continued bearish momentum, such as a break below the wedge's lower boundary.
Traders should watch for additional confirmation through bearish indicators like RSI showing overbought conditions or MACD signaling a bearish crossover. Implement proper risk management by placing stop-loss orders above the sell engulfing area and targeting key support zones below the wedge.
USDCAD_1D&1W_BuyAnalysis of the Canadian dollar economy Elliott wave analysis Mid-term and long-term time frames According to the data of the chart, the trend is still upward and the US dollar can gain value in relation to the US dollar, and due to the drop of the Canadian dollar, it is necessary for the wave length to end and Canada to get out of the difficult situation. The market can complete its ascent in five waves, which is currently in the five big waves. If the Bank of Canada does not take action and the price does not return below 1.40000
The trend can continue to rise towards 1.45300 and again a short correction and again continue to rise towards 1.51500 Good luck for the difficult conditions of the great country of Canada
USDCAD- shortUSDCAD seems to be making wave c of a correction. Overall USDCAD should start making a larger pullback on daily or H4.
USD/CAD BEST PLACE TO SELL FROM|SHORT
Hello, Friends!
The BB upper band is nearby so USD-CAD is in the overbought territory. Thus, despite the uptrend on the 1W timeframe I think that we will see a bearish reaction from the resistance line above and a move down towards the target at around 1.405.
✅LIKE AND COMMENT MY IDEAS✅
USDCAD forming bearish wedgeThe USDCAD looks to be forming the bearish wedge and opening a short position is profitable. With first target 1.41 and second the 1.40.
USDCAD SELLusdcad sell stop, placed at the breakout of the 15min support on which we place sell stop order. as the usdcad is countinuously bullish and there is a little retracement is pending so its time to sell the pair , and we hope this setup will perform as we mentioned inshallhaa
CAD/USD 15-Minute Analysis: Head & Shoulders BreakoutCAD/USD 15-Minute Analysis: Head & Shoulders Breakout
On the 15-minute time frame, CAD/USD has formed a Head and Shoulders pattern, and the price has broken below the neckline trendline, signaling potential bearish momentum. Here's my idea:
Entry:AT 0.4146$
Target: The next significant support level, marked in the green zone.
This pattern suggests further downside, but as always, manage your risk carefully and monitor price action as we approach the target zone.
Let me know your thoughts and share your analysis below! 👍
USD/CAD 4hr Timeframe AnalysisUSD/CAD 4hr Timeframe Analysis
Trend Analysis:
In the 4H timeframe, USD/CAD is in a strong uptrend, creating higher highs and lows. The price has broken through two minor key resistance levels, demonstrating its bullish momentum.
Key Observations:
The price has retested the previous resistance level, which has now become a minor support zone.
After retesting, the price moved up again, creating a new high and starting to accumulate buy orders above the highest key resistance level at 1.41600.
The price has now entered the manipulation stage, where it is likely to attract more buyers and create a liquidity zone.
Price Action Expectation:
Our objective is to wait for the price to return to the key resistance level and break out again. We expect the price to continue its upward momentum and reach new highs.
Trade Setup: Buy Stop
Entry: 1.41660 (above the highest key resistance level)
Stop Loss: 1.41320 (below the liquidity zone)
Take Profit: 1.42680 (next minor key resistance)
Fundamental Analysis
The broader market sentiment remains on balance after the US CPI inflation figures matched market expectations on Wednesday. The US Consumer Price Index (CPI) rose to 2.7% year-over-year in November from 2.6% in October, meeting market expectations. The headline CPI reported a 0.3% reading MoM, in line with the market consensus. Meanwhile, the core CPI, excluding volatile food and energy prices, climbed 3.3% YoY, while the core CPI increased 0.3% MoM in November, as expected.
USDCAD likely to go long!!USDCAD shows a strong tendency to move higher. There is a significant possibility of finding support around the 1.4155 level, after which the pair is likely to rise further toward 1.42554.
USDCAD 1 Hour H&S. Strong divergence / ShortNice H&S setup. Waiting for a break and close and a retest of the neckline. back down to a strong support level.
USD/CAD "The Loonie" Forex Market Heist Plan on Bullish SideHola! Ola! My Dear Robbers / Money Makers & Losers, 🤑 💰
This is our master plan to Heist USD/CAD "The Loonie" Forex Market based on Thief Trading style Technical Analysis.. kindly please follow the plan I have mentioned in the chart focus on Long entry. Our target is Red Zone that is High risk Dangerous level, market is overbought / Consolidation / Trend Reversal / Trap at the level Bearish Robbers / Traders gain the strength. Be safe and be careful and Be rich.
Entry 📈 : Can be taken Anywhere, What I suggest you to Place Buy Limit Orders in 15mins Timeframe Recent / Nearest Low Point take entry should be in pullback.
Stop Loss 🛑 : Recent Swing Low using 2H timeframe
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Loot and escape on the target 🎯 Swing Traders Plz Book the partial sum of money and wait for next breakout of dynamic level / Order block, Once it is cleared we can continue our heist plan to next new target.
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USD/CAD Exchange Rate at a 56-Month HighUSD/CAD Exchange Rate at a 56-Month High
As evidenced by the USD/CAD chart, yesterday the rate climbed above 1.4190 – a level not seen since April 2023, when the world was gripped by panic over the spread of the coronavirus.
Today, the weakness of the Canadian dollar relative to the USD is being influenced by a rich fundamental backdrop. As reported by the media:
→ Formerly elected President Donald Trump has previously stated that he would impose a 25% tariff on all goods from Mexico and Canada as soon as he takes office on 20 January, joking that Canada should become the 51st state. Yesterday, Trump posted on social media that he looks forward to meeting with Canadian Prime Minister Trudeau again to "continue our in-depth discussions on tariffs and trade."
→ At 17:45 GMT+3 today, the Bank of Canada will announce its decision. It is expected to cut its interest rate by 50 basis points to 3.25% and likely signal that further rate cuts are possible in light of the sharp rise in unemployment levels.
→ At 16:30 GMT+3 today, the Consumer Price Index (CPI) data will be released. It is expected that US inflation will remain unchanged.
As a result, heightened volatility is highly likely today, which could significantly affect the nature of the current upward trend.
Note that on 25–26 November, a spike in volatility was observed on the USD/CAD chart, visible through the ATR indicator, which caused the channel's slope to become less steep. Today’s batch of news carries the highest significance: traders should prepare for both the scenario of a new 56-month high being reached and an attempt by bears to reverse the trend.
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.
USDCAD is in Bullish TrendUSDCAD is making new HH&HL it is creating matured bullish candles so and going to break the current resistance so the bias for this trade is bullish
1-hr USD/CAD: The Bulls Are In Control After the announcement of Trump’s proposed tariffs on Canada, USD/CAD surged by 200 pips within hours. Following this sharp increase, the pair experienced a correction, which drew additional buyers, reinforcing the clear and strong upward momentum. Currently, a Multiple Top pattern is forming near 1.4180, a pattern historically associated with breakout opportunities. However, short-term pullbacks remain likely, particularly given the ongoing market volatility. Traders looking to align with the broader uptrend in USD/CAD may consider waiting for such a pullback to secure a more favorable risk-reward ratio. Immediate support around 1.4130 stands out as a potential entry point, especially since it coincides with the 23% Fibonacci retracement.
USDCAD DOUBLE TOP PATTERNUSD/CAD Analysis: Double Top and Rising Wedge Patterns Detected
The USD/CAD pair is experiencing a bearish reversal, with two distinct patterns emerging:
Key Indicators:
- Double Top Pattern: A clear double top formation has been identified, indicating a potential reversal in the upward trend.
- Rising Wedge Pattern: A rising wedge pattern has also been detected, suggesting a bearish breakout may occur.
Key Levels:
- Resistance: 1.45102
- Support: 1.39000
- Target: 1.38000
- Stop Loss: 1.42641
Recommendation:
Caution is advised, as a bearish breakout may occur. Consider short-term sell positions or hedging strategies to mitigate potential losses.
Best Wishes Tom 😎
usdcadCPI data print will be watched as well as the bank of Canada BOC Rate Statement and Overnight Rate
BOC Press Conference
USDCAD - Looking to go long from H4 Demand ZoneHere we have USDCAD on H4. I am looking to go long at the Demand Zone as shown.
I need to see a bullish price action when price reaches the demand zone.
I will update accordingly once the trade is triggered.
USDCAD scalp short on exhaustion reversal
As always, we like to keep it clean and simple, with technicals and analysis that's easy to see and understand. Let's get into it:
1. Wave 5 exhaustion on mult timeframes
2. Overbought 30m/1h/1D
3. Shooting star candle printed on 1h
Analysts note that USDCAD is trading within a rising channel since late September, recently peaking at 1.4178. The bullish momentum suggests potential for further gains, but short-term corrections (ie. why we're scalping) are common as traders take profits and reassess positions.
Market Sentiment and Data Releases: With key U.S. and Canadian employment data released recently, markets may experience volatility as traders digest the information. This can often lead to short-term corrections as the market adjusts to new economic indicators.
Be Alert.
Trade Green.
#USD #CAD Short Set UpWe have a double top with bearish divergence. I will short on the break of 1.41665
Entry 1.41665
Stoploss 1.41953
TP-1 1.41377
TP-2 1.41089
