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USDCAD trade ideas

USD/CAD H1 | Potential bullish bounceUSD/CAD is falling towards a pullback support and could potentially bounce off this level to climb higher. Buy entry is at 1.4209 which is a pullback support that aligns with the 23.6% Fibonacci retracement level. Stop loss is at 1.4171 which is a level that lies underneath a pullback support and the 50.0% Fibonacci retracement level. Take profit is at 1.4285 which is a level that aligns with the 61.8% Fibonacci projection level. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 64% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). 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 TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third-party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
Long
by FXCM
USDCAD Sell IdeaUSDCAD My Bias:11 Dec 2024 Reversal/Bearish Indications: 1-USDCAD moving inside the trend channel since Nov-2023 2-Price is respecting upper & lower trend lines strongly since Nov-2023 3-Lower trendline is being respected since July-2021 4-Formation of Crab Reversal Harmonic Pattern and PRZ along with bearish divergence on DTF 5-Formation of BAT Reversal Harmonic Pattern and PRZ along with bearish divergence on 1HTF 6-Currently, Price is hesitant to cross strong weekly resistance & supper trendline of 1.41883. 7-DXY index is extremely bullish 8-94% traders are short on sentiments (Strategy-2) 9-BOC cut 0.50 BPS rate from 3.75 to 3.25 which means CAD will bearish furthermore. But the important observation is that CXY is extremely bearish currently. If CXY doens't shows the signs of bullish reversal then there are chances that USDCAD will breaks the upper trendline and may continue upward furthermore. Note: I am taking this trade even CAD is becoming weak but Crab on DTF & BAT on 1HTF with divergence, Strong resistance, 94% short sentiments convincing me to short this pair.
Short
by Ali_Hejazi
1
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! 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 Team
Education
by FOREXcom
USD/CAD Sell - 15 minsTrading Idea: USD/CAD Sell Setup Trade Overview: Entry Zone: Near 1.42500 Take Profit (TP): 1.42100 (Key Support Zone) Stop Loss (SL): 1.42738 (Above Resistance) Risk-to-Reward Ratio: ~2.5:1 Technical Analysis: Head and Shoulders Pattern: The chart highlights a clear Head and Shoulders reversal pattern, with the right shoulder forming near the 1.42500 resistance zone. This is a strong bearish signal, indicating a potential shift in momentum to the downside. Rising Wedge Breakout: Price is showing signs of breaking down from a Rising Wedge, a bearish continuation pattern. Bearish candlesticks indicate selling pressure building near the resistance. Key Resistance Zone: The 1.42500–1.42700 area has acted as a strong ceiling for price, resulting in multiple rejections. Sellers have shown dominance at this level, reinforcing the bearish bias. Target Support: The TP at 1.42100 aligns with a prior support level and demand zone, making it a logical target for the move.
Short
by tamrobert20
USDCAD: One of the Most Geopolitical-Based Currency PairsHello Traders, The Trump presidency may bring three significant changes to the financial world: We might see an end to the Russia-Ukraine war. We might see more support for Israel against Iran. We might see increased tariffs on US imports. All three changes could affect the pair in both directions, making them a double-edged sword for USDCAD. Trump previously had good relations with Putin and is known for his anti-interventionism under his America First policy. Aid to Ukraine may decrease, which I am not in favor of, as Ukraine represents the frontline of democracy in the war against Putin. Abandoning Ukraine could encourage other dictators, like China, to attack other countries. Recently, Zelensky accepted the idea of temporarily giving up some territories to Russia if Russia allows NATO's presence in Ukraine, a negotiation he previously refused before Trump won the election. A peace agreement or long-term ceasefire between Putin and Ukraine may strengthen the USD, as the world would feel safer, attracting more capital to the growing US economy. However, the strength of the USD against the EUR, the 2nd most powerful currency in the forex market, could also attract more capital to Euro. The Abraham Accords were one of Trump's most successful initiatives. The proxy war between Israel and Iran escalated after the October 7 massacre, with Iran losing most of its proxies. Iran's missile capabilities have been tested and are now recognized as a weak, not-dangerous ability. Previously, Iran had three cards to play against Israel and the West: proxies, missiles, and nuclear capabilities. Now, it only has nuclear activities. Many are waiting for Israel to strike Iran's suspicious nuclear facilities. Such an attack could significantly impact the markets, particularly the CAD. There are two possible scenarios: if Iran does not retaliate due to its inability to do so, the USD would strengthen as more capital flows in. Conversely, if Iran manages to close the Strait of Hormuz for a few days, oil prices would rise significantly, prompting U.S. and Western intervention, leading to a prolonged conflict that would drive oil prices higher. Since Canada depends on oil and energy, any increase in prices would boost the CAD. Regarding tariffs, imposing them may weaken the CAD, but as Trudeau stated, Americans “are beginning to wake up to the reality that tariffs on everything from Canada would make life a lot more expensive.” Canada would retaliate, and if the eurozone follows suit, the U.S. economy could be negatively affected. As forex traders, we know how powerful and important the U.S. is, but we also recognize that other economies have their strengths, and the world is not solely defined by the U.S. For instance, an official in Ontario's government mentioned that they would restrict electricity exports to Michigan, New York, and Minnesota if President-elect Trump imposes sweeping tariffs on all Canadian products. So, consider all three factors if you plan to invest long-term in either currency. For the shorter term, we should also keep these developments in mind, as they could happen at any moment. Any night, Israeli bombers could fly over Syria and Iran to target Iran's nuclear facilities, which could lead to a substantial gain in CAD value. Right now, from a technical perspective: any retracement to the green box at 1.4190 could present an opportunity to increase the price of the pair. Conversely, a break below the channel and 1.41610 would signal a chance for more bearish moves. Sources for US Tariffs on Canada: apnews.com apnews.com
Long
by AliSignals
USDCAD - Long after filling the imbalances !!Hello traders! ‼️ This is my perspective on USDCAD. Technical analysis: Here we are in a bullish market structure from 4H timeframe perspective, so I look for a long. My point of interest is if price fills the imbalance lower and then rejects from bullish OB. Fundamental news: On Tuesday (GMT+2) we will see results of CPI on CAD and on Wednesday Interest Rate on USD, followed by FOMC Conference. Like, comment and subscribe to be in touch with my content!
Long
by Snick3rSD
USD/CAD Price Action: CAD Hits Record Lows Against US DollarRecent developments have significantly impacted the USD/CAD pair, pushing it above 1.4200, marking the Canadian dollar's lowest level against the US dollar since March 2020. This decline is driven by the recent resignation of Canadian Finance Minister Chrystia Freeland, sparking political and economic uncertainty amid ongoing tariff policy disputes with the US. The Bank of Canada's decision to lower its key interest rate by 50 basis points to 3.25%, following weak GDP growth data, has further pressured the CAD. Despite stronger-than-anticipated consumer spending, the BoC has signaled a pause on aggressive future rate cuts, leaving room for potential economic adjustments in response to growth and inflation challenges. Meanwhile, the US Federal Reserve's optimistic outlook on inflation and a robust labor market points to a cautious approach on rate cuts, supporting the dollar's strength. As uncertainties surrounding US tariffs and economic data unfold, traders should closely monitor these developments to anticipate further USD/CAD movements and make informed trading decisions.
by tastyfx
USD/CAD Riding the Ascending ChannelChart Analysis: The USD/CAD pair continues to trade within a well-defined ascending channel (blue-shaded area), reflecting sustained bullish momentum. 1️⃣ Ascending Channel: The pair is trading near the upper boundary of the channel, indicating strong upward momentum. Traders may watch for reactions at this level for potential continuation or minor pullbacks to the channel’s midline or lower boundary. 2️⃣ Key Resistance Level: The horizontal level at 1.3977 (pink line) represents a significant historical resistance area. A sustained breakout above this level has reinforced the bullish outlook. 3️⃣ Moving Averages: 50-day SMA (blue): Rising and acting as dynamic support near 1.3952. 200-day SMA (red): Sloping upward around 1.3723, confirming a longer-term bullish trend. 4️⃣ Momentum Indicators: RSI: Hovering near 71, reflecting strong momentum but also signaling overbought conditions. MACD: Bullish momentum remains intact as the MACD line stays above zero and trends upward. What to Watch: Price reaction at the upper channel boundary for signs of continuation or a corrective pullback. Any retracement towards the 50-day SMA or channel’s lower trendline could be closely monitored. RSI may warrant attention for any potential bearish divergence if momentum weakens. USD/CAD remains firmly within a bullish structure, supported by rising moving averages and strong momentum. The ascending channel provides a clear technical framework to follow. -MW
by FOREXcom
Market Analysis: USD/CAD Builds on GainsMarket Analysis: USD/CAD Builds on Gains USD/CAD is rising and might aim for more gains above the 1.4245 resistance. Important Takeaways for USD/CAD Analysis Today - USD/CAD is showing positive signs above the 1.4200 support zone. - There is a contracting triangle forming with resistance at 1.4245 on the hourly chart at FXOpen. USD/CAD Technical Analysis On the hourly chart of USD/CAD at FXOpen, the pair formed a strong support base above the 1.4100 level. The US Dollar started a fresh increase above the 1.4165 resistance against the Canadian Dollar. The bulls pushed the pair above the 1.4200 and 1.4215 levels. The pair cleared the 50-hour simple moving average and climbed above 1.4240. A high was formed at 1.4245 and the pair recently corrected some gains. There was a move toward the 23.6% Fib retracement level of the upward move from the 1.4119 swing low to the 1.4245 high. Initial support is near the 1.4215 level. The next major support is near the 1.4195 level. The main support sits near the 1.4165 zone on the same USD/CAD chart. It is close to the 61.8% Fib retracement level of the upward move from the 1.4119 swing low to the 1.4245 high. A downside break below the 1.4165 level could push the pair further lower. The next major support is near the 1.4120 support zone, below which the pair might visit 1.4050. If there is another increase, the pair might face resistance near the 1.4245 level. A clear upside break above 1.4245 could start another steady increase. The next major resistance is the 1.4320 level. A close above the 1.4320 level might send the pair toward the 1.4365 level. Any more gains could open the doors for a test of the 1.4420 level. 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.
by FXOpen
USDCAD Elliott Wave AnalysisHello friends In the previous analysis of the currency pair USDCAD, we expected the price to grow and also specified the profit-taking range. Now, if you took your profit at the desired point and exited the trade, you can enter the buy trade again to reach a higher target. The reason for this is the formation of microwaves 1 to 4 of the main wave 5, and currently it is appropriate to enter the buy trade to catch the price growth in the main wave 5 of 5. The stop loss is at 1.3965. And the profit limit is at 1.4200. To support me, I recommend that you install the Trading View application on your phone and see my analyzes and support me with your comments and Boost. Be successful and profitable.
Long
by M_Gheysvandi
Shorting USD/CAD: Because Even the Loonie Deserves to Fly High!Based on a comprehensive analysis of various factors, there are several reasons that could justify a short position on the USDCAD pair from 1.5x with a target of 1.365. 1. Interest Rate Differentials The US Federal Reserve and the Bank of Canada may have diverging stances on interest rates. If the Bank of Canada is projected to raise interest rates or the US Federal Reserve is anticipated to lower them, this could lead to a depreciation of the USDCAD pair. 2. Economic Indicators Economic indicators such as GDP growth, unemployment rate, inflation, and consumer sentiment can influence the exchange rate. If the Canadian economy is expected to outperform the US economy, this could lead to a depreciation of the USDCAD pair. 3. Commodity Prices Canada is a significant exporter of commodities, particularly oil. If oil prices are expected to rise, this could lead to an appreciation of the Canadian dollar and a depreciation of the USDCAD pair. 4. Political Risks Political events and policy changes can influence exchange rates. If there are political risks in the US that are expected to negatively impact the US economy or if there are positive political developments in Canada, this could lead to a depreciation of the USDCAD pair. 5. Market Sentiment Market sentiment can influence exchange rates. If traders are bearish on the US dollar or bullish on the Canadian dollar, this could lead to a depreciation of the USDCAD pair. 6. Technical Analysis The USDCAD pair may be at a key resistance level at 1.5x, and a reversal pattern may be forming. If the pair breaks below this level, it could signal a move towards 1.365. Please note that these are potential reasons and the actual movement of the USDCAD pair will depend on a variety of factors. It's important to conduct thorough research and consider the potential risks before making a trading decision.
Short
by FtradeFXArabic
USDCAD Wave Analysis 16 December 2024 - USDCAD reversed from support zone - Likely to rise to resistance level 1.4300 USDCAD currency pair recently reversed up pivotal support level 1.4140, former resistance level which reversed the price sharply at the end of November. The upward reversal from the support level 1.4140 started the active impulse wave 5 of the higher order impulse wave (3) from September. Given the clear daily uptrend, USDCAD currency pair can be expected to rise further to the next resistance level 1.4300.
Long
by FxProGlobal