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USDCAD trade ideas

Heading into 38.2% Fibonacci resistance?USD/CAD is rising towards the pivot which has been identified as a pullback resistance and could reverse to the pullback support. Pivot: 1.3502 1st Support: 1.3423 1st Resistance: 1.3549 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.
Short
by ICmarkets
1
USDCAD H4 I Bullish Bounce Based on the H4 chart analysis, we can see that the price has just bounced off our buy entry at 1.3483 which is a pullback support. Our take profit will be at 1.3543, which is an overlap resistance close to 50% Fibonacci retracement. The stop loss will be placed at 1.3421, a swing-low support level. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd, previously FXCM EU Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
Long
by FXCM
1
USDCAD / TRADING INTO DESCENDING CHANNEL & STRAIGHT CHANNEL - 4HUSDCAD / 4H TIME FRAME HELLO TRADERS Trend Analysis: 1. August Price Trend: - The price decline of 4.04% indicates a downward trend throughout the month. This could be due to various factors like market conditions, seasonal variations, or external economic influences. 2. September Price Behavior: - The initial 1.52% rise in September suggests a possible recovery or correction after the August decline. This could indicate a shift in market sentiment or a reaction to events that occurred at the start of the month. - The predicted 1.93% decline by the end of September suggests that the recovery was temporary and that the overall trend may continue downward. This could imply continued bearish sentiment or anticipation of adverse conditions. Technical Analysis: 1. Current Market Condition: The asset is under bearish pressure , As long as the price remains above 1.361, the bearish momentum is expected to continue. 2. Upward Condition: - Target 1: If the price breaking 1.361 by closing 4h candle above it , it's expected to rise to 1.370. - Target 2: If the price stabilizes above 1.370 , the next target is 1.374. 3. Downward Condition: - If the price trade below 1.361 , it suggests a potential decline: - Target 1: A decline to 1.350. - Target 2: If it breaks below 1.350, further decline is expected to 1.344.
Short
by ArinaKarayi
Bearish reversal off pullback resistance?USD/CAD is rising towards the resistance level which is a pullback resistance and could reverse from this level to our take profit. Entry: 1.3493 Why we like it: There is a pullback resistance level. Stop loss: 1.3547 Why we like it: There is an overlap resistance level that is slightly above the 50% Fibonacci retracement. Take profit: 1.3421 Why we like it: There is a pullback support. Enjoying your TradingView experience? Review us! Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Short
by VantageMarkets
Why I Think USDCAD Will Continue To Sell This WeekHey Rich Friends, I hope all is well. I think UC will continue to be bearish this week and here is what I am looking at: - The market has already created and rejected a new swing high at 1.36475. This is a bearish confirmation for me - Structure has been broken on the downside, confirming a bearish trend - The 10 EMA (purple) has crossed about the 3 EMA (blue). This is a bearish confirmation for me - The Stoch is facing down, the slow line (orange) is above the fast line (blue) and both lines are below 50, preparing to cross below 20. These are bearish confirmations for me I will be using previous lows as potential TPs and previous high for my SL. I hope this makes sense and helps someone! Great luck if you decide to take this idea. Peace and Profits, Cha
Short
by MoneyMantraCha
USDCAD On The Rise! BUY! My dear followers, I analysed this chart on USDCAD and concluded the following: The market is trading on 1.3462 pivot level. Bias - Bullish Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bullish continuation. Target - 1.3536 Safe Stop Loss - 1.3420 About Used Indicators: A super-trend indicator is plotted on either above or below the closing price to signal a buy or sell. The indicator changes color, based on whether or not you should be buying. If the super-trend indicator moves below the closing price, the indicator turns green, and it signals an entry point or points to buy. ——————————— WISH YOU ALL LUCK
Long
by AnabelSignals
1
USD/CAD Butterfly Harmonic Pattern - Potential Reversal Setup?The chart focuses on the USD/CAD currency pair and highlights a visible harmonic pattern, along with technical indicators that provide additional signals. The analysis is based on a 4-hour chart, giving insight into short to medium-term trading opportunities. The visible pattern on this chart is a Butterfly Pattern, which differs from the Gartley pattern by typically signaling a strong reversal at point D, often leading to a sharp corrective move. The chart suggests that point D has been reached, signaling a possible buying opportunity. Technical Indicators: The TDIGM indicator suggesting that selling pressure is exausted, and an upward move might be imminent. Price appears to have found support near point D, indicating that sellers are losing strength, and a bounce may be on the horizon. Strategies: 1.Short-Term Long Position: Since point D represents the completion of the Butterfly pattern, it suggests a potential bullish reversal. A buying strategy could be profitable here. Buy Entry: Near point D (around 1.3435), where the chart shows price stabilizing after the decline. Stop Loss: Below point D, around 1.3400, to protect against a false support break. Take Profit: Initial targets can be around 1.3500 and 1.3550, based on previous resistance levels and the expected recovery. 2.Short-Selling on a Breakout: If the identified support at point D breaks, a selling strategy may be considered. Sell Entry: Below 1.3400. Stop Loss: Above 1.3450, in case of a false breakdown. Take Profit: Targets can be set around 1.3350 and 1.3300, based on previous support levels. If the Butterfly pattern holds and point D maintains support, we expect an upward move; if price breaks below point D, further declines are likely.
Long
by MrVNpt
USD/CAD 1H Bearish Outlook: Distribution Phase 1. Market Structure Overview The market appears to be in a Wyckoff Distribution Phase, as evidenced by the formations of UT (Upthrust) and UTAD (Upthrust After Distribution). This suggests a shift from accumulation to distribution, where large institutional players are offloading positions. LPSY (Last Point of Supply): The market has already completed a major distribution event, with the LPSY confirming the last attempt to drive prices higher before a downward move. The BOS (Break of Structure) in the 4H timeframe signifies a bearish transition, further confirming the market's intent to reverse from the current distribution range. 2. Key Levels and Fibonacci Retracements Resistance Zone: The 0.786 Fibonacci retracement at 1.3587 represents a significant resistance level, aligning with the BC Distribution Zone on both the 1H and Daily timeframes. Any upward retracements would likely find resistance around this level. Support Levels: 0.618 Fibonacci retracement at 1.3560 serves as a critical short-term support. 0.5 Fibonacci level at 1.3535 aligns with key internal support levels from previous price action and provides a potential downside target. Point of Control (POC) for 1H distribution sits around 1.35604, highlighting where the most trading volume has occurred. This is a significant level for potential reversals or rejections if prices return to this area. 3. Current Market Sentiment and Projection Current Price Action is located around 1.3510, which aligns with a weak low forming the A-leg of a corrective pattern. This corrective movement (Wave A) follows a sharp downtrend from the UTAD. Phase B Leg (Expected): The market is likely entering a retracement or pullback, with Wave B expected to bounce towards the 0.618 Fibonacci level at 1.3560. This would be the ideal level for a bearish continuation. Wave C Completion: Following the Wave B bounce, the chart suggests another leg down (Wave C), which should aim for lower support zones around 1.3440 to 1.3419, targeting the sell-side liquidity and completing a bearish market cycle. 4. Liquidity Zones Sell-Side Liquidity: As the market approaches 1.3419, sell-side liquidity from retail positions is expected to be captured. This zone marks the end of the current leg down and could trigger larger order flow or institutional interest. Buy-Side Liquidity is located above 1.3560, and any significant upward retracement into this area would likely result in a strong reaction from sellers, driving prices lower again. 5. Risk/Reward and Trading Plan Short Setup: Entry: Look for short positions between 1.3560 (0.618 Fib level) and 1.3587 (0.786 Fib). Stop-Loss: Place the stop above 1.3606, just above the LPSY to account for volatility and fake-out moves. Take-Profit Targets: Target 1: 1.3535 (0.5 Fibonacci level), representing the first leg of profit-taking. Target 2: 1.3440 for a deeper retracement and to capture the sell-side liquidity. Invalidation Point: Any bullish break above 1.3606 would invalidate the bearish setup, as it would signify that the UTAD failed, and the market could enter a continuation of the uptrend. 6. Volume Profile The Volume Profile shows the highest volume concentration between 1.3545 and 1.3580, indicating that any upward retracement into this zone could face heavy selling pressure. Price is likely to struggle here as this area represents where institutional traders have placed significant orders. 7. Market Bias The market bias is bearish, given the clear Wyckoff Distribution, BOS, and lower-high structure forming. The primary expectation is a corrective pullback to the 0.618/0.786 retracement zones, followed by a continuation of the downtrend to capture sell-side liquidity at lower levels. Summary Bearish Outlook: The market is in a distribution phase and is expected to move lower after a minor retracement. Key Levels: Watch for resistance at 1.3560-1.3587 and target support levels around 1.3440 to 1.3419. Risk Management: Use 1.3606 as a stop-loss and aim for a high risk/reward ratio, especially considering the strong volume profile between 1.3545 and 1.3580.
by spaceangel
3
USDCAD H4 | Bearish Reversal Based on the H4 chart analysis, we can see that the price is rising toward our sell entry at 1.3490, which is a pullback resistance Our take profit will be at 1.3421, a swing-low support level. The stop loss will be at 1.3569, an overlap resistance level close to 61.8% Fibonacci retracement. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 62% of retail investor accounts lose money when trading CFDs with this provider.You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd, previously FXCM EU Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 59% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
Short
by FXCM