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U.S. Dollar / Canadian Dollar

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USDCAD trade ideas

USDCAD FOR 100PIPS BULLISHconomic Data: If recent economic data (such as strong U.S. employment numbers, GDP growth, or inflation figures) are positive, it could support a stronger U.S. dollar. Oil Prices: Since Canada is a major oil exporter, a drop in oil prices may weaken the Canadian Dollar, making the U.S. dollar more attractive. Central Bank Policies: Any dovish stance from the Bank of Canada (such as rate cuts or reduced hawkishness) compared to a more hawkish Federal Reserve can also push the pair higher. Technical Analysis: If the chart shows a bullish trend, with key support levels holding, it could be a signal for further gains. Look for signs like bullish candlestick patterns, moving average crossovers, or support bounce off major levels.
Long
by LORDOFTHETRADERS
USDCAD - Sell Opportunity After Support BreakOANDA:USDCAD has broken below a major support level, signaling a shift in momentum. If the price will retest the zone at 1.42600, which previously served as support, this area may now act as resistance, aligning with a potential bearish continuation. If sellers confirm resistance at this level, the price is likely to move downward toward the 1.41130 level, which represents a logical target for this setup. Conversely, a failure to hold resistance could suggest a potential bullish shift. Traders should monitor for bearish confirmation signals, such as bearish engulfing candles or increased selling volume, before considering short positions. Let me know your thoughts or any additional insights you might have!
Short
by DanieIM
USD/CAD Slips—Fading Trade Fears, CPI in FocusUSD/CAD is trading heavy ahead of Canada’s inflation report, weighed down by softer US economic data and fading sticker shock from US trade policy headlines. With Canadian data impressing at rates not seen since mid-2024 and January’s steep reversal from 22-year highs increasingly resembling a cyclical top, the key question now is whether this marks the start of a more significant unwind of earlier USD/CAD gains. The price broke through multiple support levels last week after failing above the 50-day moving average, taking out 1.4270 and 1.4195 before retesting the latter from below over the past two sessions. Momentum indicators like RSI (14) and MACD continue to generate bearish signals, reinforcing the near-term bias being lower. Beyond 1.4195, downside levels include 1.4090, the December double bottom at 1.3932, and the 200-day moving average. On the upside, 1.4270 has acted as a cap for much of the past fortnight, alongside minor resistance at 1.4372. That zone could prove tough to crack this week without a major escalation in US trade tensions or an ice-cold Canadian inflation print. On Tuesday’s CPI report, the data will be skewed by a temporary GST holiday, potentially distorting the signal. That raises doubts about whether it will have enough weight to disrupt the prevailing USD/CAD trend. Good luck! DS
Short
by FOREXcom
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
USDCAD Bearish Breakdown: Retest & Drop Incoming? USDCAD Daily Chart Analysis 📉🔥 1️⃣ Trend Breakdown: The pair was in an uptrend but has now broken below the ascending trendline, signaling a potential bearish shift. 2️⃣ Resistance Zone (Supply Area) 🟦: The 1.4350 - 1.4450 region acted as resistance, rejecting price strongly. Multiple rejections in this area indicate strong selling pressure. 3️⃣ Bearish Confirmation 📉: Price is now trading below the broken trendline. The recent daily candle closed bearish, confirming sellers are in control. 4️⃣ Key Support Areas 🔍: 1.3957 (200 EMA) → A crucial dynamic support level. 1.3916 → Previous key level that may act as strong demand. 5️⃣ Projected Move ⬇️: Price may retest the broken trendline (pullback). If rejection occurs, further drop towards 1.3950 - 1.3910 is likely. 📌 Final Thought: A bearish move is in play! Watch for a pullback to retest the broken structure before considering further shorts. If price breaks below 1.3950, expect further declines. 💭 What’s your bias? Bulls 🐂 or Bears 🐻?
Short
by MrStellanSight
4
Trump reshaping Canada’s election and Loonie Six weeks ago, a Conservative victory in the next Canadian election seemed inevitable. Now, that certainty is fading. Conservative leader Pierre Poilievre's support from the American right, including Elon Musk, is becoming a potential liability as Canada faces an unprecedented challenge: the U.S. president openly questioning its viability as a nation, threatening tariffs, and even suggesting annexation. A recent Nanos poll shows 39.6% of Canadians see new Liberal leader Mark Carney as the most qualified to negotiate with Trump, compared to 26% for Poilievre. This uncertainty may be weighing on the Canadian dollar. USDCAD broke lower last week, falling below key support (1.4260 - 1.4466), signaling a shift toward sellers. However, the 1-hour chart shows a minor upward trendline defining the current pullback.
by BlackBull_Markets