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U.S. Dollar / Canadian Dollar

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USDCAD trade ideas

USDCAD may change its local trend to a bearish one USDCAD is at risk of a trend reversal due to the dollar forming a reversal phase after yesterday's news and rumors when someone came up with the idea that Trump had decided to change his hardline policies. After the rumors were refuted, the dollar headed down, pulling the forex with it. Scenario: Consolidation of the price below a key level may influence further decline. A break of local support could trigger a strong fall to 1.4178
Short
by AndeWave
4
USDCAD - Potential Correction, SHORT Dear Friends, How I see it: Daily Candle body closed below range A re-test of fair market value is always possible. OR Maybe price will just re-test the breakout zone of the range. We are looking for persistent rejection candles upwards to confirm the breakout. ** I want price to break and hold below 1.42800. ** A higher probability short entry should've been above or closer to FMV. (So, another test run up will be awesome!) Keynote: It is the first week of the year, a bit of uncertainty in the market, be SAFE! I deeply appreciate you taking the time to study my analysis and point of view.
Short
by ANROC
3
USDCAD: A Bearish Outlook AheadAs I analyze the current situation of the USDCAD pair, it appears to exhibit a strong bearish trend, prompting a sell recommendation. My analysis is based on the strategy of EASY Trading AI, which identifies patterns and variances in the market. The entry price for this trade is set at 1.43279, and I foresee a potential take profit target at 1.42549667. To safeguard our capital, a stop loss has been established at 1.44256667. This setup reflects a calculated approach to capture further downside while managing risk effectively. Several factors contribute to my bearish outlook. Firstly, economic indicators suggest a strengthening Canadian economy, juxtaposed against fluctuating views on the US dollar's performance. Additionally, recent technical analyses show a consistent resistance level, signaling potential reversals in the advance of USDCAD. With the combination of these elements and the robust framework of the EASY Trading AI strategy, this trade aligns with my objective to optimize returns while minimizing exposure. I highly recommend traders follow these signals closely and consider employing these strategies within their own trading frameworks for enhanced profitability. 🚀
Short
by ForexRobotEasy
USDCAD 1H ShortThe USD/CAD 1-hour chart illustrates a potential bearish setup as the price breaks below the Ichimoku cloud (Kumo), indicating a shift to bearish momentum. The Tenkan-sen (red line) and Kijun-sen (blue line) have crossed below the cloud, supporting further downside potential. The bearish crossover and the downward-angled Kumo ahead signal continued selling pressure. A short entry is viable below the current level at 1.4320, with a stop-loss placed above the Kijun-sen around 1.4345 to minimize risk. The take-profit target is set near the previous swing low at 1.4280, offering a favorable risk-to-reward ratio. However, traders should monitor volume and lower timeframes for confirmation before entering the trade.
Short
by ALRDNMRSKY
Trudeau’s Expected Resignation Prompts Dollar ReboundThe USD/CAD pair hit 1.4379, reflecting a rebound from its earlier January 2016 lows, as traders react to the potential resignation of Canadian Prime Minister Justin Trudeau. This possible political shift has also strengthened the US dollar against the Canadian dollar, causing the loonie to pare some of its earlier gains. Trudeau's anticipated departure, amid public and legislative pressure, adds an element of political uncertainty in Canada, which could impact the CAD's stability. Meanwhile, in the U.S., President-elect Donald Trump's tariff plans are being recalibrated to target only critical imports, a shift from his campaign's universal tariff approach. This adjustment aims to mitigate widespread disruptions and price increases, potentially supporting market stability and investor confidence. As these geopolitical and economic factors unfold, traders should remain vigilant, as developments in Canadian leadership and U.S. trade policies could introduce further volatility and influence USD/CAD dynamics.
by tastyfx
What Trudeau’s resignation means for USD/CAD? Canada's Prime Minister Justin Trudeau is reportedly expected to announce his resignation this week, with Reuters suggesting the announcement could come as early as today. Trudeau's departure would leave the Liberal Party without a permanent leader, as polls indicate the party is at risk of a significant loss to the opposition Conservatives in an election required by late October. In the forex market, USD/CAD fell from the January high at 1.4460 when the resignation rumors began. A move above the 100- and 200-hour moving averages at 1.4390 might signal a reversal in buyer momentum and a stronger bullish bias. The range low at ~1.4335 is potentially another key level to watch for this pair.
by BlackBull_Markets
USD/CAD Bouncing at Trendline Support after Trudeau ResignsChart Analysis: The USD/CAD pair has been in a steady uptrend, but recent price action shows signs of consolidation below the recent highs at 1.4450. The trendline support remains intact, keeping the bullish structure valid. 1️⃣ Key Support Zone: The trendline from October lows aligns near 1.4300, acting as immediate support for the pair. 2️⃣ Moving Averages: 50-day SMA (blue): At 1.4111, providing dynamic support if the trendline breaks. 200-day SMA (red): At 1.3772, indicating the broader bullish bias. 3️⃣ Momentum Indicators: RSI: At 60.26, cooling off from overbought levels, indicating room for further consolidation. MACD: Positive but showing signs of a potential slowdown, with momentum waning slightly. What to Watch: A daily close below the trendline at 1.4300 could trigger further downside toward the 1.4111 support (50-day SMA). Alternatively, holding above the trendline could attract buyers, pushing the pair back toward 1.4450 and potentially targeting new highs. The bullish trend remains intact, but price action near the trendline will be critical in determining the next move. -MW
by FOREXcom
Short the pair Hello Dear Traders, This was my first trade in 2025. Hope you have enjoyed holidays, and you are ready to start a profitable year. Regarding the daily chart we could easily distinguish some zones. While the trend is super bullish some deep corrections might be able to make profit in LTF. A break below the zone in 2h activated a sell trade for us. I've opened a market execution order, and I've put a limit order at bottom of the zone. Enjoy you trades Regards, Ali
Short
by AliSignals