International politics is now a high school dramaSo, Trump was all like, “Let’s slap an extra 25% tariff on Canadian steel and aluminum,” which meant total duties shot up to 50%.
Why? Because Ontario put a 25% tax on electricity exports to the U.S. And Doug Ford? He was not having it—saying he’d “respond appropriately” and “not back down.” But —he totally backed down and scrapped the tax on electricity exports to Michigan, New York, and Minnesota.
And now, Trump just ditched the extra 25% tariff, and boom— USDCAD broke below the recent low of 1.43986
USDCAD trade ideas
USDCAD - Correction and then move towards 1.44999Given the flow of bearish orders on the higher timeframes (weekly and daily, four-hour), I think the price could move towards 1.44999 after a minor correction and liquidity clearing.
This move is just a pullback on the higher timeframes, and with this move, the price is trying to reach the fifty percent level of the structure on the higher timeframe.
USD/CAD SELLERS WILL DOMINATE THE MARKET|SHORT
Hello, Friends!
USD/CAD pair is trading in a local downtrend which know by looking at the previous 1W candle which is red. On the 1D timeframe the pair is going up. The pair is overbought because the price is close to the upper band of the BB indicator. So we are looking to sell the pair with the upper BB line acting as resistance. The next target is 1.411 area.
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USD/CAD: Textbook Waves—ABC Correction Next?Discover the Power of Elliott Waves with This USD/CAD Setup!
Hey traders! If you’re looking for a clean, textbook Elliott Wave example to sharpen your analysis skills, you’re in the right place. Let’s break it down together—and who knows, this could be the edge your trading needs!
Elliott Wave Breakdown
Wave 1: Kicked things off with a strong move higher, marking the start of the current trend.
Wave 2 (Flat): A sideways, flat correction—think of it like the market catching its breath. It moved in three waves (A-B-C), holding up price and hinting at the strength to come.
Wave 3: The rocket ship! Wave 3 is typically the powerhouse, and USD/CAD delivered. Traders who caught this move likely enjoyed a nice ride.
Wave 4 (Zigzag): True to Elliott Wave theory, we saw alternation. After the flat Wave 2, Wave 4 gave us a sharp A-B-C zigzag down. Quick, clean, and offering a second chance for those who missed Wave 3.
Wave 5: The final push completed the 5-wave impulse, potentially wrapping up the current trend.
What’s Next? An ABC Correction!
This is where it gets exciting. After completing a 5-wave pattern, markets often retrace in an A-B-C correction. This could be your chance to plan the next move. Will it pull back to the 38.2%, 50%, or even 61.8% retracement? Smart traders are already watching these levels!
Why This Matters for You
Understanding wave structures like this can give you a huge advantage. It’s not about predicting the future—it’s about stacking probabilities in your favor. And when a textbook pattern like this shows up, it’s an opportunity worth watching.
Actionable Tips for Traders
Be ready for the ABC correction—this could be your ideal entry for the next impulse move.
Use tools like RSI, MACD, or trendline breaks for extra confirmation.
Manage risk wisely. No setup is guaranteed, but the odds are on your side when you follow the waves!
Stick around for more insights like this. If you find this breakdown helpful, give it a thumbs up and follow me for more real-time analyses and trading tips!
Good luck and happy trading!
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USDCAD Eyes on BoC Interest Rate DecisionUSDCAD Eyes on BoC Interest Rate Decision
On Friday, the Bank of Canada reported a contraction in employment data. However, it was positive that the unemployment rate remained unchanged at 6.6% from the previous month, and the average hourly wages for February were higher than the previous month. Overall, the Canadian economy is performing well.
Despite this, USDCAD is expected to advance further in the coming days. On Wednesday, March 12, the BoC will announce its interest rate decision. The market anticipates a rate cut of 25 basis points, bringing the rate down to 2.75% from the current 3%2.
This expectation is causing CAD weakness ahead of the news. The price may test our target areas soon.
If this does not happen by Wednesday, trading could become riskier.
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please suppo rt with a like or comment if you find this analysis useful for your trading day❤️
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
USDCAD, more waterfall ahead for the next few weeks!USDCAD, benefited from a mid term market correction as it has risen back to resistance levels.
But this rise is always met with well -- resistance.
A shift has been spotted already at these higher levels and a significant trim down is expected from here on. DXY is also looking to continue its descend journey.
Spotted at .14430
Interim Target at 1.4300
Mid Target at 1.4200
Trade safely.
TAYOR.
USDCAD H4 | Bearish BreakoutBased on the H4 chart analysis, we can see that the price is currently at our sell entry at 1.4423, a pullback resistance
Our take profit will be at 1.4311, a pullback support.
The stop loss will be placed at 1.4540, which is a swing-high resistance.
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Risk off, Dollar off | FX ResearchRisk off - dollar off isn't exactly a familiar trend in markets, yet this is how things have been playing out in recent sessions. Ultimately, the market is deeply distressed about the outlook for the U.S. economy given the unpredictability of administration policies, forcing investors into risk reduction mode, where alternatives to the U.S. dollar have become the currency of choice, at least for now.
The Canadian dollar is the only notable laggard among developed currencies, with price action reflecting the stress on the Canadian economy as U.S. tariffs take effect and Canada responds with its own retaliatory measures. Mark Carney will step in as Canada's new Prime Minister and has vowed to keep retaliatory tariffs in place until the U.S. shows Canada more respect.
Earlier today, German industrial production came in better than expected, fueling additional demand for the euro. Looking ahead, there are no first-tier risks on the calendar for the rest of the day, with market focus remaining on broader headlines.
Exclusive FX research from LMAX Group Market Strategist, Joel Kruger
USDCAD, Short, 15m✅ USDCAD formed a clear rising wedge pattern, signaling a potential bearish move. The price is expected to decline slightly from this level.
Canadian economic data showed stronger-than-expected results, including a better unemployment rate, higher Ivey PMI, and a strong trade balance, boosting the CAD. In contrast, U.S. data revealed a higher unemployment rate and weaker Non-Farm Payrolls, putting pressure on the USD.
SHORT 📉
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Market Insights with Gary Thomson: 10 - 14 MarchMarket Insights with Gary Thomson: US Inflation Rate and Producer Price Index, BoC Interest Rate
In this video, we’ll explore the key economic events, market trends, and corporate news shaping the financial landscape. Get ready for expert insights into forex, commodities, and stocks to help you navigate the week ahead. Let’s dive in!
In this episode, we discuss:
— US Inflation Rate
— BoC Interest Rate Decision
— US Producer Price Index
Don’t miss out—gain insights to stay ahead in your trading journey.
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CFDs are complex instruments and come with a high risk of losing your money.
Bullish bounce off pullback support?The Loonie (USD/CAD) is falling towards the pivot which has been identified as a pullback support and could bounce to the 1st resistance.
Pivot: 1.4151
1st Support: 1.3946
1st Resistance: 1.4477
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