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U.S. Dollar / Canadian Dollar

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USDCAD trade ideas

USD/CAD Trend During US Trading SessionUSD/CAD news: 🔆The USD/CAD pair rose to 1.4200 during the European session on Friday, after hitting a three-day low of 1.4166. The pair gained momentum as the US dollar recovered, with the US Dollar Index bouncing back near 106.65 after hitting a yearly low of 106.30 the previous day. 🔆However, the greenback's recovery appears to be temporary, as its risk premium eases while investors assess US President Donald Trump's tariff policies 🔆On monetary policy, Federal Reserve officials kept interest rates at current levels, citing uncertainty over Trump's trade and tax plans. 🔆Investors are now awaiting Canada's December Retail Sales data and a speech by BoC Governor Tiff Macklem at an event in Mississauga, Ontario. Personal opinion: 🔆The dollar continues to decline, mainly due to President Trump's unclear tariff policies. Although traders still believe that the Bank of Canada (BoC) will further loosen monetary policy. Technical analysis: 🔆Based on important support - resistance and Fibonacci levels combined with SMA indicator Plan: 🔆 Price Zone Setup: 👉Sell USD/CAD 1.4198 – 1.4215 ❌SL: 1.4255 | ✅TP: 1.4160 – 1.4120 – 1.4080 FM wishes you a successful trading day 💰💰💰
Short
by FM-ForexMastermind
1
USDCAD SELL SETUPSELL Setup – High-Probability Trade (Valid IF price retraces into a premium zone & confirms bearish rejection.) 📌 Key Confluences for Sells: ✔ HTF Bearish Trend Confirmed. ✔ Unmitigated Bearish Order Block (OB) at 1.4250 - 1.4300. ✔ Fair Value Gap (FVG) & Mitigation Zone at 1.4230 - 1.4260. ✔ Premium Zone = Institutional Sell Area. ✔ Next Target = Sell-Side Liquidity Below 1.4150 & 1.4100. ✅ Sell Plan Entry Zone: 1.4230 - 1.4260 (Institutional Supply Zone). Stop Loss (SL): Above 1.4320 (Safe from stop hunts). Take Profits (TPs): TP1: 1.4150 (First Liquidity Pool). TP2: 1.4100 (Major SSL Target). TP3: 1.4050 - 1.4000 (Extended TP). Trade Type: Intraday / Trend Continuation Short. Confidence Level: HIGH (Strong HTF Confluence). 🔹 Execution Strategy: ✔ Option 1: Aggressive Sell → Limit Order at 1.4230 - 1.4260. ✔ Option 2: Confirmation Sell → Wait for bearish BOS under 1.4180, then enter on pullback.
Short
by jibkhan111
Could the Loonie bounce from here?The price is falling towards the pivot which has been identified as an overlap support and could bounce to the 1st resistance which is a pullback resistance. Pivot: 1.4140 1st Support: 1.4073 1st Resistance: 1.4245 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.
Long
by ICmarkets
1
Short I opened a short position based on the following reasons: 1)  Daily candle on the 13th Feb decisively broke and closed below the support line around 1.430 zone and created fair value gap.   2) The price retraced to the FVG area and closed below the area this morning (I am looking at 4H and 1H for this).    3) Both MACD and RSI in Daily and 4H are in the bear zone. 4) 4h MACD has just crossed in the bear zone and is moving to the downside.  5) 4H MACD is also showing hidden divergence which indicates the continuation of the down trend.  6) 4H EMA is below EMA 200 and the candle closed below EMA 21.  Entry price 1.4190 Stop Loss: 1.43 (just above EMA 200 in 4H.  It is a general stop and I will move it soon if the price moves to the downside) Profit target:  1.3975  (I might manually close it if the price struggles to go below 1.4000)  Risk: Reward is 1:1.65
Short
by EbonyFalcon
USDCAD USD/CAD is the currency pair that represents the exchange rate between the U.S. dollar (USD) and the Canadian dollar (CAD). It indicates how many Canadian dollars are needed to buy one U.S. dollar. This pair is heavily influenced by oil prices (since Canada is a major oil exporter), interest rate differentials between the U.S. Federal Reserve and the Bank of Canada, and overall economic conditions in both countries. When oil prices rise, the Canadian dollar strengthens, often causing USD/CAD to decline, and vice versa.
Long
by HavalMamar
Potential bullish bounce?USD/CAD is falling towards the support level which is an overlap support and could bounce from this level to our take profit. Entry: 1.4140 Why we like it: There is an overlap support level. Stop loss: 1.4074 Why we like it: There is a pullback support level that lines up with the 78.6% Fibonacci projection. Take profit: 1.4239 Why we like it: There is a pullback resistance level. Enjoying your TradingView experience? Review us! Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). 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 Everest Fortune Group.
Long
by VantageMarkets
USDCAD key trading level at 1.4260The USDCAD currency pair intraday sentiment appears bearish, supported by the confirmed loss of support of the longer-term sideways consolidation trading range. However, since the spike caused by the possible tariff announcement on 03rd February 2024, the USDCAD price action is displaying signs of bearish behaviour. The key trading level is at 1.4260. An oversold rally from the current level and a bearish rejection at 1.4260 level could target additional downside support at 1.4150 followed by the 1. 4100 and 1.4025 levels over the longer timeframe. Alternatively, an oversold rally from the current levels and a confirmed breakout above 1.4260 resistance and a daily close above that level would negate the bearish outlook opening the way for a further rally and a retest of 1.4300 resistance followed by 1.4350 and 1.4400 levels. 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 SHORT incomingUSDCAD looks to be setting up for a nice short, its not quite ready yet and needs to break this small consolidation range and then fail at around 1.46 which has a major resistance zone. The idea has a number of confluence points with the DXY looking top heavy and too coinciding movement hitting a major resistance above 110 at 113. NFP news was good for the dollar which we saw it pump. More fundamentals in the near future will determine the WHEN for this move to start. Technically we are poised for the reversal with a target of 1.39, a support area and 0.618 fib zone. Currently we are trading at the high end of the trend with the RSI stating overbought territory. This may not play out next week and may take another couple of weeks. Forth coming events are USD - inflation rate data and CPI. Do you own analysis and please let me know your thoughts.
Short
by PLaceUrBetsPlease