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U.S. Dollar / Canadian Dollar

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USDCAD trade ideas

Potential bullish bounce?The Loonie (USD/CAD) has bounced off the pivot which has been identified as pullback support and could rise to the 1st resistance. Pivot: 1.4295 1st Support: 1.4176 1st Resistance: .4405 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Long
by ICmarkets
USDCAD Testing Key Demand Zone - Bullish Bounce ExpectedOANDA:USDCAD is trading at a significant demand zone, highlighted by prior strong price reactions. This area serves as a critical support level, where buyers have historically stepped in to push prices higher. The current market structure suggests a potential bullish reaction if momentum emerges. I anticipate that if the price confirms a rejection from this demand zone, marked by bullish candlestick patterns or clear rejection wicks, the pair could move upward toward the 1.43960 level. Let me know if you agree with this analysis or have additional insights! Feel free to share your thoughts in the comments.
Long
by DanieIM
3
Fundamentals and upcoming headwinds is still supportiveYes tariffs delayed but fundamentals and upcoming headwinds is still supportive, even if for a short while. making long scalps very attractive with potential catalyst to cause runners Exhaustive wave down, corretive wave to start, whether distribution for further breakdown or accumulation for resumption of trend, long scalps are attractive at this level information created and published doesn't constitute investment advice! NOT financial advice
Long
by Mabelm
1
USD/CAD remains on the backfoot after tariffs delayThe USD/CAD has extended its drop after reversing sharply the day before on the back of Trump's U-turn on imposing tariffs on Canada, delaying it for at least a month. Today's weaker US JOLTS job openings data has further pressured the US dollar. The FX pair had initially surged on Monday, breaking above both the March 2020 high of 1.4668 and January’s peak of 1.4690, reaching a session high of 1.4793 before swiftly reversing as news emerged of tariff delays. The resulting price action formed a long-legged inverted hammer candle—typically seen at major swing highs. For the bears, a decisive move lower would now be needed to confirm that at least a near-term top has been established. Crucially, the USD/CAD has breached the key 1.4400 pivotal zone, where prior support converges with the 21-day exponential moving average and a rising trendline. A daily close well below this level could open the door to fresh technical selling, potentially driving the pair below the recent low of 1.4261 in the days ahead, if not even lower. On the upside, immediate resistance now comes in around the 1.4370-1.4400 area, with a more significant zone sitting around 1.4500, which was tested earlier in the session and has held—for now. Beyond that, the next key resistance area lies between the 2020 and 2016 highs, within the 1.4668-1.4690 range, making it a critical zone to watch. By Fawad Razaqzada, market analyst with FOREX.com
Short
by FOREXcom
Dip Below 1.4450 Presents Buying OpportunityI anticipated the pair holding above 1.4450, but the recent dip below this level presents a renewed buying opportunity in my view. While this move might seem like a sign of reversal, I believe the US dollar's underlying strength, coupled with the contrasting monetary policies of the Federal Reserve (FED) and the Bank of Canada (BoC), suggest otherwise. Furthermore, the ongoing uncertainty surrounding potential tariffs, particularly those involving the US, puts additional pressure on the Canadian economy, which is already facing challenges on both the economic and political fronts. Therefore, I maintain a short-term bullish outlook for USDCAD, both technically and fundamentally, with a stop in the 1.440 - 1.435 zone.
Long
by UnknownUnicorn84440050
1