bearish engulfing barWith the formation of
bearish engulfing bar candlestick
of the previous week candle, i suppose
its gonna be a sell for the next two or three weeks
USDCAD trade ideas
USDCAD SELL ANALYSIS BEARISH FLAG PATTERN Here on Usdcad price has form bearish flag and is likely to continue moving down if line 1.42591 break so trader should go for short with expect profit target of 1.40202 and 1.37725 . Use money management
USD/CAD may rise to 0.44005 - 0.44350Preference
Long positions above 0.42937 with targets at 0.44005 and 0.44350 in extension.
Alternative
If below 0.42937 look for further downside with 0.42676 and 0.42355 as targets.
possibility of downtrendConsidering the price behavior in the current resistance level, possible scenarios have been identified. If the price cannot stabilize above the resistance level, the downward trend will likely continue.
USD/CAD – Anticipating a Key Support BreakoutCore Idea:
A breakout below the key support zone at 1.4250 – 1.4245 is anticipated, with further downside momentum expected. The current price consolidation near this support suggests weakening bullish pressure.
Technical Justification:
• Support Zone: 1.4250 – 1.4245
• Expected Scenario: After breaking this zone, the price is likely to move towards 1.4180 and further down to 1.4120.
• Invalidation Level: If the price rebounds above 1.4305, the breakout scenario will be invalidated.
Trading Strategy:
• Sell Stop below 1.4245 to confirm the breakout.
• Take Profit 1: 1.4180
• Take Profit 2: 1.4120
• Stop Loss: 1.4305
Conclusion:
The consolidation around the support indicates position accumulation ahead of a potential breakout. Placing a Sell Stop order will allow you to capitalize on this momentum with a precise market entry.
CAD: Skating on thin iceTariffs on Canada have been delayed for now, and USD/CAD has weakened back to mid-December levels. Our economists suspect these tariffs will be pushed back again before March 4, but see the risk that the President ultimately follows through with these tariffs as higher for Canada than for Mexico. Canada’s parliamentary stand-still, upcoming election, and political transition make a longer-term resolution with the US less certain than with Mexico.
We think these risks mean that markets need to price a higher and more lasting tariff premium in USD/CAD. While tariffs are not our base case, markets have most likely gone too far towards unwinding the tariff premium since the extension.
Options markets are placing a 25% probability on USD/CAD reaching Monday’s intraday highs over the next 3 months, and only a 10% chance of reaching 1.50. Meanwhile, we think that the risk of tariffs on Canada is closer to 40%, so these probabilities seem low by comparison.
Long USD/CAD has performed quite well as a hedge when tariff risks escalate; we continue to think that it is a good option for investors looking for protection from increased trade tensions.
Usd/jpy longI believe it can go up until the next 2h band , if it comes down here i go long from here..
Canadian and US Employment Data: A Comparative AnalysisCanadian and US Employment Data: A Comparative Analysis
Today, two of the world's major economies are scheduled to release their employment data.
Bank of Canada is expected to report a Net Change in Employment for January at 25,000, down from 90,900 in the previous month.
Meanwhile, the US will release the Nonfarm Payrolls (NFP) data for January, with expectations set at 170,000, compared to 256,000 previously.
Here are potential scenarios and their implications:
Both Countries Miss Expectations: If both Canada and the US miss their respective employment data expectations, USDCAD may remain relatively unchanged.
Higher CAD Employment Data, NFP In Line with Expectations: Should the Canadian employment data exceed the previous month's figures while the NFP data meets expectations, USDCAD might move downwards.
NFP Above Expectations: If the NFP data surpasses expectations, we may see USDCAD rising further, impacting the exchange rate more significantly.
As of now, USDCAD is still within its pattern, indicating potential for further growth. Stay tuned to see how the data unfolds and impacts the markets.
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
USDCAD FORECASTThe higher timeframe is looking crazy, guys. As we have seen, the price has broken the highest high, and the way that the price grabbed liquidity and closed below is quite a strong indication that more selling potential is coming our way to the downside. What we need to wait for is the completion of the structure that is developing in the lower timeframe. As always, guys, patience is key!
USDCADWe have a down trend on the HTF and now is near supply zone if show as a confirmation we go down
LR
Canadian dollar holds firm on strong jobs data | FX ResearchMarkets are already showing signs of recovery after the sharp risk-off gap lower. The market selloff around tariffs appears overstated, likely exacerbated by thin trading conditions.
Recent U.S. tariff actions could be scaled back as negotiations progress, and markets tend to fill open gaps. The Canadian dollar saw significant weakness, hitting its lowest level against the U.S. dollar since 2003, prompting countermeasures from Canada.
The euro faced additional downside pressure following weaker-than-expected German industrial production data, while the Canadian dollar held up well, supported by a stronger-than-expected Canadian jobs report.
Key events to watch on Monday include an ECB speech by Christine Lagarde, the Bank of Canada’s Market Participant Survey, and US consumer inflation expectations.
Exclusive FX research from LMAX Group Market Strategist, Joel Kruger
USD/CAD🇺🇸🇨🇦 Support and Resistance Levels:
- *Support Level:* Approximately 1.42611, as it was a recent low point and seems to be holding during pullbacks.
-
- *Resistance Level:* Around 1.47937, indicated by the peak where the price reversed before the drop.
These levels are important as they provide thresholds where price actions may reverse. If the price approaches the support level, it may bounce back, and if it tests the resistance level, it may face selling pressure.
Gradual Buy and Sell Points:
- *Buy Level:* Near the support level of 1.42611 can be a strategic point for long-term investors, as buying here might capitalize on a potential bounce back.
- *Sell Level:* Close to the resistance around 1.47937, as prices tend to struggle to break significantly above this point.
The strategy could involve accumulating positions as prices near support and placing sell orders around resistance.
margin trading:
- *Position:* A long position could be taken if the price approaches the support level and holds
- *Entry Point:* Around 1.42611.
- *Take Profit Level:* Target around 1.46000 to 1.47000, slightly below the identified resistance
- *Stop-loss Level:* Set below support at 1.42500 to minimize losses if the support level fails.
*Risk/Reward Ratio:* With a potential gain of approximately 300-400 pips and a risk of around 100-150 pips, the risk-reward ratio would be favorable, at least 2:1.
Indicator Analysis:
The chart shows some indicators, likely Bollinger Bands and moving averages:
- *Bollinger Bands:* Prices are near the lower band, indicating potential for a rebound. The current squeeze suggests low volatility, which could precede a breakout.
-
- *Moving Averages:* If there's a crossover (which isn't visible here), it could signal a shift in momentum.
SHORT ENTRY SPECULATIONHi traders, this is my opinion on the USDCAD. As the price is currently around the ATH, the sellers emerged strongly on the previous week to the point that the price has broken the support level on the Daily Time Frame, waiting patiently for the short pull back confirm the fair value gap, for a selling opportunity. Let me know your idea or opinion about this, Wishing you all a profitable week.
USDCAD - LONG. Target # 1 & Target # 2 - Achieved.
Now heading for Target # 3
Break is over, heading for next level.
Bullish Engulfing
USD - strength plus
Heading for Next Level - USDCAD
Do Your Own Due Diligence.
Education Purpose Only.
FX:USDCAD
USDCAD about to drop for more than 150+ pipsBased on my quantum algorithms USDCAD will drop for 150+ pips
Sell usdcadStrong selling pressure weekly and daily bearish confirmation
Monthly sell setup
Monthly overbought zone
USDCAD MARKET OUTLOOK Here’s USDCAD market outlook after two major economic report from Canada and US were released. On Friday, we had unemployment rate report from Canada which came out better than expected (indicating a stronger CAD). In the other hand, NON-FARM PAYROLL data was also released which came out worse than expected with their Unemployment rate at 4%. Fundamentally, we’re looking forward to seeing a weaker USD and stronger CAD which will be a sell.
From the technical standpoint , price traded and closed at 1.42932 (a breakout level)
We have a resistance at 1.45051
Our next support price is at 1.41032
USDCADUSD/CAD represents the exchange rate between the US Dollar (USD) and the Canadian Dollar (CAD), often referred to as the “Loonie” due to the loon bird featured on Canada’s one-dollar coin. This pair is heavily influenced by commodity prices, particularly crude oil, as Canada is a major oil exporter. When oil prices rise, the Canadian dollar typically strengthens, pushing USD/CAD lower, and vice versa. Other key factors affecting the pair include interest rate differentials between the Federal Reserve and the Bank of Canada, economic data from both countries, and overall risk sentiment in the global markets. The pair is known for its sensitivity to both energy markets and monetary policy shifts.
USDCAD - Is History Repeating Itself?Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
📈 USDCAD has been overall bullish , trading within the rising wedge pattern marked in blue.
Today, USDCAD broke above its previous major high (marked in red).
🏹 As it retests this previous high, it will also intersect with the lower blue trendline, which acts as a dynamic support level.
📚 According to my trading style:
As #USDCAD approaches the red zone, I'll be watching for bullish reversal setups—such as a double bottom pattern, a trendline break, and more.
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
USDCAD - Weekly forecast, Technical Analysis & Trading IdeasMidterm forecast:
1.39318 is a major support, while this level is not broken, the Midterm wave will be uptrend.
Technical analysis:
While the RSI support #1 at 47 is not broken, the probability of price decrease would be too low.
A trough is formed in daily chart at 1.34185 on 09/25/2024, so more gains to resistance(s) 1.44670, 1.46000, 1.46900 and more heights is expected.
Supports and Resistances:
1.46900
1.46000
1.38884
1.38168
1.37487
1.36876
1.36072
1.35404
1.34323
1.33664
1.31816
1.30929
__________________________________________
❤️ If you find this helpful and want more FREE forecasts in TradingView,
. . . . . Please show your support back,
. . . . . . . . Hit the 👍 BOOST button,
. . . . . . . . . . . Drop some feedback below in the comment!
🙏 Your Support is appreciated!
Let us know how you see this opportunity and forecast.
Have a successful week,
ForecastCity Support Team
USDCADUSDCAD looking great bearish trend on point we will see a small pull back then a lovely drop as long as USD plays its part looking forward for next week. Trade save and at ya own risk..
USDCAD trade ongoingSo, my idea from 3 weeks back in time played out early this week. My limit order was hit and this turned out to be a beautiful trade. Partials already closed with nice profits, and SL has been moved to entry. Currently, the trade has gained 390 pips, and is testing a quite respected support level that seems to be weakening.
USDCAD SHORT: Divergence in employment data!Canada's January employment change 76.0K vs 25.0K estimate.
US January non-farm payrolls +143K vs +170K expected
NFP data came in lower than expected while employment data came in stronger than expected for the CAD. Due to the result, we expected the pairs to move in opposite directions with the USD being the weaker of the two pairs.
