USDCAD LongUSDCAD has had a decent retracement and retesting last resistance at 1.437 and could be trying to find support.
I am long USDCAD.
USDCAD trade ideas
USDCAD Swing setup possibly forming....On the Weekly timeframe, USDCAD is slowly nearing a very interesting area. Watch this carefully, might take 1-3 weeks to reach there. This area has two times before been slightly touched. Jan 2016, REJECTED. March 2020, REJECTED.
My dream scenario is a triple tap to this resistance line and immediately followed by a big SELL.
This can be traded as a swing trade, or by using the sell off weeks for smaller day/intraday trades.
My plan is to open one swing trade with 0.5% risk and keep it running for as long as it takes. Then I will use another 0.5% risk on this pair for day trading on the way down.
Accumulation phase - Wait for breakout...We have a Major ascending channel on the daily time interval
And a minor ascending channel on the hourly time intervals,
With price accumulating at a weekly resistance level
We will wait for a breakout or rejection to take place.
USDCAD Will Fall! Sell!
Here is our detailed technical review for USDCAD.
Time Frame: 1h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a key horizontal level 1.441.
Considering the today's price action, probabilities will be high to see a movement to 1.439.
P.S
Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all.
Like and subscribe and comment my ideas if you enjoy them!
USDCADBulish Bais
1:dow theory Bulish
2:no divergence
3:trend line fallow price
4:test trend line candle stick pettren
(Bulish engluf ) make .
entry 1.40594
SL:1.39050
TP 1.41598
RRR1:1.34
USDCADBulish Bias
1:dow theory Bulish
2:no divergence
3:trend line fallow price
4:test trend line candle stick pettren
(Bulish engluf ) make .
entry 1.40370
SL:1.39256
TP 1.41598
RRR1:1
UDSCAD Sell SetupPrice had broken the sideway movement support at 1.4335, and risen back to the H4 FVG area between 1.4406 - 1.4440, presenting an entry opportunity.
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Disclaimer
The analysis and content provided here are intended solely for personal journal and educational purposes. This information does not constitute financial advice, investment advice, or a recommendation to buy or sell any securities. Trading involves significant risk, and you should only trade with money you can afford to lose. Past performance is not indicative of future results. Always conduct your own research and consult with a qualified financial advisor before making any investment decisions.
USD/CAD BEARISH Price have accumulated between price 1.44683 & 1.43451 if we take a close look at current price we will see a beautiful bearish engulfing candle and a nice retest back to the candle with \great rejection to the upside .
Here we will place out sell entry at half of the candle with stop loss just above the engulfing candle ..
Entry: 1.44226
TP: 1.43051
USD_CAD RESISTANCE AHEAD|SHORT|
✅USD_CAD is about to retest a key structure level of 1.4470
Which implies a high likelihood of a move down
As some market participants will be taking profit from long positions
While others will find this price level to be good for selling
So as usual we will have a chance to ride the wave of a bearish correction
SHORT🔥
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Looking for a break upsidePrice is in range moving sideways, Although the speed of the price is not good enough, I belive it will break up the range and look for the highs in the red zone. It may take a few more days but we'll wait for it.
USDCAD Trade Setup: Continue The Bullish Runprice is yet to take out the liquidity above. we wait for price to tap into our FVG on Monday for us to take an entry.
do take caution and enter with ur confirmation. cheers!
USDCAD Consolidation: Eyeing a Breakout Above Key Resistance USDCAD is currently trading at 1.443, with a target price of 1.490, suggesting a potential gain of over 500 pips. The analysis is based on the support and resistance pattern, indicating that the pair is holding its main resistance level. A breakout above this resistance level is being anticipated. Currently, the pair is in a consolidation phase, where price movements are relatively limited. This phase often signifies market indecision and can precede significant price action. Traders are closely monitoring the breakout potential, as a breach of resistance could signal strong upward momentum. The technical setup suggests bullish sentiment, with the resistance level acting as a critical price point. If the breakout occurs, it may confirm the continuation of the uptrend. However, traders should remain cautious and consider potential reversals if the resistance holds.
Massive Reversal Incoming? USDCAD Showing Exhaustion Signals!(Apologies if the video is hard to understand—I bit my tongue during boxing sparring this morning!)
USDCAD has been on an incredible 17-week rally, but the price now appears extremely overextended and is showing signs of exhaustion.
Yesterday's NFP report brought a huge upside surprise, fueling a strong USD rally against all major currencies. While EURUSD, GBPUSD, NZDUSD, and AUDUSD all hit multi-year lows, USDCAD initially spiked higher but then sold off sharply, closing the day just above 1.44.
This marks the first clear sign of buying exhaustion—despite USD strength across the board, USDCAD failed to make new highs.
Additionally, this week’s candle formation caught my eye. It looks like a classic hanging man pattern, which typically appears at the top of a move, signaling an imminent reversal.
Zooming into the daily charts, we can see a clear distribution range forming, with sideways price action after a strong rally. The MACD is showing divergence, and recent price increases have been accompanied by negative volume—another strong indicator of a potential reversal.
As explained in the video, I see two likely scenarios for entering this trade:
False Breakout: A spike above the distribution range, potentially towards or just above 1.45, followed by a sharp sell-off. This would be my preferred entry.
Big Red Candle: A strong bearish candle early next week, signaling it’s time to enter short.
For this position, my first target is the previous monthly resistance at 1.405, and my second target—more likely—is 1.385, which is now a support level.
While I expect some bounce at these levels, I believe the longer-term move will see USDCAD fall back into its range, with a potential drop toward 1.32 very much on the cards.
Let me know your thoughts below!
USDCAD Forecast: Time to Buy!Based on the latest analysis using the EASY Trading AI strategy, my outlook for the USDCAD currency pair is decidedly bullish. The current entry price of 1.43916 presents a viable buying opportunity, aiming for a take profit level of 1.44094667, while setting a stop loss at 1.43690667.
Several factors contribute to this optimistic stance. The overall trend has shown a consistent upward movement fueled by positive economic indicators from Canada, coupled with underlying U.S. dollar weakness due to concerns regarding monetary policy shifts. Additionally, momentum oscillators signal significant buying interest, suggesting that traders are eager to enter this market.
The technical setup further supports this buy signal, as we see strong support around the current price level. The presence of multiple bullish candlestick patterns indicates potential for a rally. The EASY Trading AI model has consistently outperformed expectations with its precision, and based on its empirical data, this trade has a high probability of success.
For those trading on their own, keep a close watch on news releases and global economic shifts, as these can impact currency valuations. Alternatively, consider utilizing our automated trading bots that follow the EASY Trading AI strategy to manage your positions effectively without the need for constant monitoring.
Engage with this opportunity wisely! 🌟 Happy trading!
USD-CAD Locally Overbought! Sell!
Hello,Traders!
USD-CAD is trading in a
Strong uptrend but the
Pair is locally overbought so
After the retest of the
Horizontal resistance level
Of 1.4466 from where
We will be expecting a
Local bearish correction
Sell!
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Check out other forecasts below too!
Intraday Short trade in USDCAD with bear Bat patternShort/Sell Trade opportunity with bearish bat pattern upon completion as market upon identifying is moving sideways in this specific timeframe since December 19. Trade with care.
USDCAD LONGCurrently according to sentiment, 76% of traders are Short and 24% are Long. This gives us a Contrarian view to look for price to push further up to the next supply zone on the chart.
This is also in line with the Fibonacci Extension of the most recent impulsive move.
USDCAD What Next? SELL!
My dear friends,
My technical analysis for USDCAD is below:
The market is trading on 1.4397 pivot level.
Bias - Bearish
Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bearish continuation.
Target - 1.4364
Recommended Stop Loss - 1.4413
About Used Indicators:
A pivot point is a technical analysis indicator, or calculations, used to determine the overall trend of the market over different time frames.
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WISH YOU ALL LUCK
USD/CAD: Key Support and Resistance Levels Ahead of Labor Market
Traders are closely watching the USD/CAD pair as labor market data from both the United States and Canada are set to be released today. Forecasts suggest a decline in Canadian employment change from 59k to 24.9k, accompanied by a rise in the unemployment rate from 6.8% to 6.9%. In contrast, U.S. non-farm payroll data is expected to show a decrease in job creation to 164k, while the unemployment rate is anticipated to remain steady at 4.2%.
These data releases are likely to impact the USD/CAD pair's movements significantly. Analysts suggest that higher employment rates in either country would support their respective currency, while rising unemployment rates would have a negative impact on the currency involved.
Technical outlook
Beyond today's data, the USD/CAD pair is currently trading in a bearish trend on the 4-hour timeframe after recently hitting a new low at 1.43045. Analysts view the recent upward movement as a corrective rebound, with a return to the 1.44271 level potentially reinforcing the likelihood of a further decline toward 1.43195.
On the other hand, if the pair continues its upward trajectory and breaches the 1.44670 level with a 4-hour candle closing above this level, experts predict the trend could shift to a bullish direction.
