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U.S. Dollar / Canadian Dollar

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USDCAD trade ideas

USDCAD downtrend continuation below 1.4300The USDCAD pair is exhibiting a bearish sentiment, reinforced by the ongoing downtrend. The key trading level to watch is at 1.4300, which represents the current intraday swing high and the falling resistance trendline level. In the short term, an oversold rally from current levels, followed by a bearish rejection at the 1.4300 resistance, could lead to a downside move targeting support at 1.4020, with further potential declines to 1.3900 and 1.3830 over a longer timeframe. On the other hand, a confirmed breakout above the 1.4300 resistance level and a daily close above that mark would invalidate the bearish outlook. This scenario could pave the way for a continuation of the rally, aiming to retest the 1.4370 resistance, with a potential extension to 1.4420 levels. Conclusion: Currently, the USDCAD sentiment remains bearish, with the 1.4300 level acting as a pivotal resistance. Traders should watch for either a bearish rejection at this level or a breakout and daily close above it to determine the next directional move. Caution is advised until the price action confirms a clear break or rejection. This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
by TradeNation
USDCAD On The Rise! BUY! My dear friends, Please, find my technical outlook for USDCAD below: The instrument tests an important psychological level 1.4161 Bias - Bullish Technical Indicators: Supper Trend gives a precise Bullish signal, while Pivot Point HL predicts price changes and potential reversals in the market. Target - 1.4266 Recommended Stop Loss - 1.4101 About Used Indicators: Super-trend indicator is more useful in trending markets where there are clear uptrends and downtrends in price. Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis. ——————————— WISH YOU ALL LUCK
Long
by AnabelSignals
1
USDCAD IS DRROPPING. DETAILED TECHNICAL AND FUNDAMENTALSUSDCAD is currently trading around 1.4200 after a clean retest of a previously broken support zone, which has now turned into a strong resistance level. Price action is confirming the bearish structure as we see a gradual yet consistent drop from the highs of 1.4540. With the rejection seen from the supply zone and recent lower high formation, momentum is shifting further in favor of the sellers. I am now targeting 1.3800 for the next key level, aligning with both technical confluence and fundamental sentiment. Technically, the structure is clear: we had a failed breakout above 1.4450, followed by a decisive bearish engulfing move. The market then completed a textbook retest at the 1.4340–1.4450 supply zone before resuming the downside move. The current formation on the 12H chart shows a lower low and lower high sequence intact, signaling a trend continuation to the downside. The highlighted zones also provide ideal reward-to-risk setups for continuation traders. From a fundamental perspective, the Canadian dollar is gaining strength due to rising oil prices, with WTI crude now climbing back above the $85 mark. This directly supports the loonie given Canada’s oil-export-driven economy. Meanwhile, US economic uncertainty around upcoming CPI data and shifting Fed rate cut expectations continue to weigh on the dollar’s upside momentum. Additionally, recent risk-on sentiment in global markets is pushing flows into commodity-linked currencies like CAD. With technicals and fundamentals aligning, I remain firmly bearish on USDCAD. As long as price remains below the 1.4340 resistance, I’m looking for continuation toward the major demand zone near 1.3830–1.3800. This setup offers a clean 1:3+ risk-to-reward profile, and I will be scaling in further on bearish confirmations as the market progresses.
Long
by AndrewsMarket-Mastery
USD/CAD(20250409)Today's AnalysisMarket news: The U.S. Customs and Border Protection Agency reiterated that the specific tax rates for each country will be announced at 12:01 a.m. on April 9. Technical analysis: Today's buying and selling boundaries: 1.4227 Support and resistance levels: 1.4353 1.4306 1.4275 1.4178 1.4147 1.4100 Trading strategy: If the price breaks through 1.4275, consider buying, the first target price is 1.4306 If the price breaks through 1.4227, consider selling, the first target price is 1.4178
by BraveTigercat
USD/CAD Bearish Setup: Trendline Rejection & Supply Zone Trade📉 Trendline & Market Structure 🔵 Descending Trendline: The price has respected this trendline multiple times (🔴 red dots mark rejection points). This confirms a bearish structure. 📦 Supply Zone (Sell Area) 🟦 Blue Zone (Supply Zone): This is a strong resistance area where sellers may push the price down. 🚀 Price Rejected Here: Market reaction suggests potential bearish momentum. ⚠️ Stop Loss & Target 🎯 ❌ Stop Loss (1.42308): If the price breaks above, the bearish setup is invalid. 🎯 Target (1.40437): Marked with a blue arrow 📉 indicating a downward move. ✅ Trade Plan 🔽 Sell Entry: Inside the supply zone 🛑 Stop Loss: Above the supply zone 🎯 Take Profit: At the lower blue level This setup suggests a high-risk reward ratio favoring short positions. 📊 Keep an eye on the trendline and market reaction!
Short
by Jameshead007
1