Read The USDCAD MarketLet's Look at USDCAD Price Actions and find some Trade Opportunities, Good Luck With Your Trades <3
USDCAD trade ideas
USDCAD Strong BearishMy 3 reasons to expect bearish:
-Tweezer top pattern on daily which is strong pattern,
-It's rebound from OB area also on daily
-It's rebound from previous resistance
Technically all condition is available to support bearish but the dollar index is still bullish. If index not close over 103.36 this will support my idea.
USDCAD SHORT-TERM SELLPrice may likely drop down to 1.3737 price traded high yesterday after the release of Canada inflation rate. I anticipate a sell off from the current price. Target is 1.3737
USDCAD Short Fakeout TradeUSDCAD Short Fakeout Trade
In the Asian session we close above the Previous Weekly High and Asian open price and then returned below, waiting for push down.
Stop Loss 10 pips above the zone: 1.37914
Take Profit: 1.37593
1. R:R 1:1, 0.5% Risk
2. After reaching TP closing half and moving SL to Breakeven
3. Trailing the rest with market structure on M15 and later H1
Close the loser before hitting full SL if price moves back to the breakout level without follow-through.
Close the winner if a reversal signal forms (e.g., engulfing pattern, pin bar), especially on higher timeframes like H1.
USDCAD H1 I Bearish reversal Based on the H1 chart analysis, we can see that the price is rising toward our sell entry at 1.3801, which is a pullback resistance
Our take profit will be at 1.3739, a swing-low support level close to 23.6% Fibo retracement.
The stop loss will be at 1.3854, above swing high resistance level.
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USD/CAD generates sell signal after massive winning streak The USD/CAD epic winning streak is over, delivering an obvious topping signal on Tuesday.
There’s a couple of options available to traders: the first would be to sell now with a stop either above 1.3792 or Monday’s high of 1.3806. Possible targets include 1.3700 or 1.3647, depending on the risk-reward ratio you’re looking for.
The other would be to wait for a potential push towards 1.3792, allowing for a stop to be placed above Monday’s high or 1.3839 for protection. Targets would be identical to option one.
Momentum indicators have yet to confirm the price signal, but may encourage more traders to join the move if they too are triggered.
With no major data set for release in the US or Canada or Wednesday, traders may begin looking towards the US jobless claims, retail sales and industrial production reports on Thursday.
As I’ve discussed in the note attached, it would not surprise to see another ugly jobless claims report given disruptions caused by Hurricane Helene and Milton on the US Gulf states, creating downside risks for US bond yields and dollar.
Good luck!
DS
Bearish drop?USD/CAD has reacted off the resistance level which is a pullback resistance that lines up with the 23.6% Fibonacci retracement and could drop from this level to our take profit.
Entry: 1.3787
Why we like it:
There is a pullback resistance level that lines up with the 23.6% Fibonacci retracement.
Stop loss: 1.3826
Why we like it:
There is a pullback resistance level.
Take profit: 1.3749
Why we like it:
There is a pullback support level that aligns with the 23.6% Fibonacci retracement.
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USD/CAD Hits 1-Month High, Bullish Continuation ExpectedHello,
FX:USDCAD pair has experienced a significant rise, reaching a new one-month high at 1.38387. Further bullish movement is anticipated, with the expectation of continued upward momentum if the price can break and hold above this recent high. Current data and market sentiment support the likelihood of this continuation.
TradeWithTheTrend3344
USD/CAD Hits 1-Month High, Bullish Continuation ExpectedHello,
FX:USDCAD pair has experienced a significant rise, reaching a new one-month high at 1.38387. Further bullish movement is anticipated, with the expectation of continued upward momentum if the price can break and hold above this recent high. Current data and market sentiment support the likelihood of this continuation.
TradeWithTheTrend3344
USD/CAD Daily AnalysisAfter 9 consecutive bullish daily closes, USD/CAD printed a Shooting Star candle after retesting the broken daily trendline. There is potentially some downside to follow if we break the low.
USDCAD BearishUSDCAD is showing trend reversal at 1H timeframe price has broken its support level, therefore the trade plan is to short.
USDCAD Big DownTrend ConfirmedWe were waiting for a 1hour candle close below our level and we just got it. I expect a retracement before we drop off hard. Look at my previous trade idea post and this chart for more information.
Let me know your thoughts below.
Usdcad short trade ideaHello everyone, I've identified a fresh supply zone in the USD/CAD pair, and the location is quite appealing.
As always, it's essential to apply proper money management and never trade without placing an appropriate stop-loss. Remember, trading is a game of probabilities, so your success should be measured over a series of trades, not just one.
Guys always read this quote.It will help you mentally."I just wait until there is money lying in the corner, and all I have to do is go over there and pick it up. I do nothing in the meantime. Even people who lose money in the market say, 'I just lost my money, now I have to do something to make it back.' No, you don't. You should sit there until you find something.” “Jim Rogers:
Thanks!
USDCAD SWING SELLPrice is currently selling from weekly supply zone. Expect USDCAD to sell to weekly low
USDCADCurrently on USDCAD on the daily timeframe you can see that price just reached the CSD and immediately respected it, and also the price is above the true month open, which is another advantage and also, we are waiting for the daily candle close so that so that target the previous day low which my influence price to go down, hopefully we also close below the previous week high, then head for its lows
USDCAD 10/15-10/21Simple correction of the bullish movement. Could retrace to the .618 line, but in the names of risk management and profit preservation, we'll target the 50 yard line.
USDCADUSDCAD is in reversal zone.
Big bearish divergence also shown in RSI.
We wait for further confirmation.
If it will break the last HL then we will enter into the trade.
USDCAD - Candle Stick trading- Long Market is in bull trend, forming series of HH and HL. market is taking corrective move and it can bee seen that, after strong bearish move, inside bar is formed followed by inverted hammer which implies that selling pressure has been absorbed. now we are taking long position.
USD/CAD Day Trading Analysis With Volume ProfileOn USD/CAD , it's nice to see a strong buying reaction at the price of 1.3763.
There's a significant accumulation of contracts in this area, indicating strong buyer interest. I believe that buyers who entered at this level will defend their long positions. If the price returns to this area, strong buyers will likely push the market up again.
GAP + Uptrend and high volume cluster are the main reasons for my decision to go long on this trade.
Happy trading
Dale
USD/CAD Post Data (Trade Plans)Rising away from Key Moving Averages, USDCAD has rallied back towards highs.
Slight rejection in the last couple of HRS. Looking to maintain short bias for a while.
USDCAD_1Whello 👋
📊Analysis of the Canadian dollar Long-term time frame Elliott wave analysis
The market is moving in the 5th big wave and can break the ceiling of the triangle and register a new ceiling in the last 25 years. Long-term time support 1.34000 The first target is 1.44444 The second target is 1.50000
Are you ladies and gentlemen seeing this USDCAD? 9 green days!Hi everyone,
This is going to be a sell for a 5x profit which would be a move to the 50% pullback region from this humongous uptrend. I am actually rather confused by it.
USDCAD Potential Drop after rejection from crossing of ResistancUSDCAD has been steadily climbing since the start of October, with nine consecutive bullish days. The price has now reached significant levels on both the weekly and daily timeframes. However, as it nears the resistance area, the candles are shrinking, signaling a potential loss of momentum. Zooming out, it's evident that the price has dropped from the 1.38500 resistance multiple times in the past. This suggests the potential for at least a short-term pullback. If a rejection candle forms, we could expect the price to move lower. Given that today's news is packed with CAD-related data, volatility is expected, possibly leading to large wicks in both directions. The target is the support level at 1.36650
