USDCADPair : USDCAD ( U.S Dollar / Canadian Dollar ) Description : Consolidation Phase in Long Time Frame RSI - Divergence Break of Structure Bullish Channel as an Corrective Pattern in Short Time Frame Resistance Levelby ForexDetective9
USDCAD price is at support level buyAlthough the 1 hour shows bearish momentum I believe buyers still have control of the market the news yesterday was a short term affect, we will close this trade by Friday, today is holiday so expect so volume.Longby EleazarahmathUpdated 1113
USDCAD LONG - Fibo RetracementUSDCAD LONG Fibonacci Retracement Indicator Reversal Trading Longby Steinberg0
USDCAD: Trading Signal From Our Team USDCAD - Classic bullish pattern - Our team expects retracement SUGGESTED TRADE: Swing Trade Buy USDCAD Entry - 1.3611 Stop - 1.3575 Take - 1.3670 Our Risk - 1% Start protection of your profits from lower levels ❤️ Please, support our work with like & comment! ❤️ Longby UnitedSignals114
USDCAD BULLISHWeekly double bottom currently testing 0.168 golden ration neckline in also what looks to be an ascending triangle. If we successfully break out of this area and have a weekly candle close above the last recent high I see lots of growth ahead. Good luck traders! Thank you for your support as well!Longby ParlayProfitsFXUpdated 8
#USD #CAD Long Set UpLooks like a reversal pattern - Falling Wedge plus we have a bullish divergence. Lets long it. Good Luck Entry - 1.36158 Stoploss - 1.36013 TP1 - 1.3630 TP2 - 1.3645 Longby BullBearBTC15
USDCAD Trading Plans Pre ADP / Post Powell SpeechSlightly Dovish tones coming from FED chair powell has caused a fall on USDCAD from previous short zones labelled. Long zones exist below, 1) Tech Bias - Comes from price rejection (longside previously) at this level. 2) Sentiment bias supports tentative sideways movement, would not be shocked if you move to local highs again.by WillSebastianUpdated 2
USDCADCurrently on usdcad london session just went down to take out Asian lows making the low of the day + also taking out the previous day low before distributing to the upside for the rest of the day Longby BigBenCapitals5
Bearish UsdCadAscending Channel Descending Channel Bear Flag Pattern All technicals lead to a conclusive bearish pairShortby rejoicem762
BUY USDCADWe have broken our channel and seeing a continuation of the uptrend. NFP will be a deciding factor today and our SL is just below the structure Goodluck #1BoyLongby Yomz_1boy6
Uptrend It is expected that a trend change will be formed in the current support range and we will see the beginning of the upward trend. If the price crosses the level of 138%, the continuation of the correction process will be possible Longby STPFOREX7
Analysis in one hourYou can enter the position in two steps entry:1.36084 to 1.35245 tp:1.38600 st:1.34345Longby mazloomseyedmohammad797
USD_CAD LONG FROM SUPPORT| ✅USD_CAD is about to retest a key structure level of 1.3600 Which implies a high likelihood of a move up As some market participants will be taking profit from short positions While others will find this price level to be good for buying So as usual we will have a chance to ride the wave of a bullish correction LONG🚀 ✅Like and subscribe to never miss a new idea!✅Longby ProSignalsFx229
USDCAD BUY TREND 04/07/2024It's been a while... Based on a detailed analysis of the 1M chart, we anticipate that the USDCAD pair will experience an upward movement. Although this analysis is derived from the 1M chart, the idea is published on the 15M chart for clarity and presentation purposes. Key Points: Trend Direction: Upward movement expected Risk Management: Exercise caution as the pair may experience temporary declines, presenting additional buying opportunities Timeframe: Expect changes within the next week Take Profit (TP): A TP line has been established. Regular updates will be provided to indicate optimal points for closing all trades Alerts: Set alerts to receive timely notifications on when to close trades, ensuring you maximize your gains and manage risk effectively We will continuously update this idea with crucial information on when to close positions. Make sure to stay tuned and adjust your strategy accordingly. Wishing everyone a happy and prosperous 4th of July!Longby TradeWithConfidence5510
Long trade Entry 30min TF Reason..observed (13.45pm) Candle wick pattern (lower shadows) RSI - Lower region Vol Analysis indicator - divergence Buyside Entry 1.36345 Profit level 1.36732 (0.28%) Stop level 1.36281 (0.5%) RR 6.05Longby davidjulien369Updated 5
Short trade Tokyo Session AM 3.45am Entry 1.36248 Profit level 1.36083 (0.12%) Stop level 1.36308 (0.4%) RR 2.75 Shortby davidjulien369Updated 1
USDCAD Trade Ideas 8HThe price is currently trading above the 50-period moving average, suggesting short-term bullish momentum. The recent crossover of the 50-period moving average above the 200-period moving average (often referred to as a golden cross) could indicate a potential shift to a more sustained bullish trend. Potential Scenarios: Bullish Scenario: If the price continues to move upward, the first target will be the lower bearish rejection block (1.3760 - 1.3780). A successful break above this level could see the price testing the higher bearish rejection block (1.3800 - 1.3840). Continued bullish momentum past these rejection blocks could indicate a strong trend reversal. Bearish Scenario: If the price fails to break through the first bearish rejection block, we could see a pullback towards the major support zone (1.3560 - 1.3620). A breakdown below this support zone would indicate a potential continuation of the broader downtrend. Conclusion: The bearish rejection blocks highlight significant resistance areas where the price may face selling pressure. The major support zone is a crucial level that has held firm in recent attempts. Monitoring price action around these levels will be key to understanding the next major move in the USD/CAD pair. Fundamental Analysis: 1. Economic Indicators United States: Interest Rates: The Federal Reserve's stance on interest rates can heavily influence the USD. Any hints of rate hikes or cuts can impact USD strength. Economic Data: Key indicators such as GDP growth, employment reports, and inflation figures (CPI and PPI) provide insight into the health of the US economy. Strong data typically supports the USD. Canada: Interest Rates: The Bank of Canada’s (BoC) monetary policy decisions affect the CAD. Like the Fed, any change in the interest rate can drive the CAD’s value. Oil Prices: Canada is a major oil exporter, so fluctuations in crude oil prices directly impact the CAD. Higher oil prices generally strengthen the CAD, while lower prices weaken it. 2. Trade Relations: USMCA Agreement: Trade relations under the US-Mexico-Canada Agreement can influence the USD/CAD pair. Smooth trade relations support economic stability, benefiting both currencies. 3. Global Economic Conditions: Risk Sentiment: Global risk sentiment affects USD/CAD. In times of economic uncertainty, the USD tends to strengthen due to its safe-haven status, while the CAD may weaken. Global Growth: General trends in global economic growth can influence demand for commodities, impacting the CAD. 4. Political Factors: US Political Climate: Political stability or instability in the US, including fiscal policies, government spending, and trade policies, can impact the USD. Canadian Politics: Political events in Canada, such as elections or policy changes, can influence investor confidence and the CAD. 5. Inflation Rates: US Inflation: Higher inflation may prompt the Fed to raise interest rates, supporting the USD. Canadian Inflation: Similar to the US, higher inflation in Canada may lead the BoC to hike rates, strengthening the CAD. 6. Employment Data: US Non-Farm Payrolls: A key indicator of economic health in the US. Strong employment data typically boosts the USD. Canadian Employment Reports: Employment changes in Canada provide insight into economic strength and can impact the CAD. What do you think? Let me know in the comments Longby The_Golden_PathUpdated 12
USDCAD - Possible Bullish ReversalCurrency Pair is currently trending in a bearish trend with series of LH and LLs. A Bullish Divergence on RSI is seen indicating a possible bullish reversal. If a new HH is made, positions may be taken on long sideLongby aatifbabar86119
USD/CAD Breaks Key SupportUSD/CAD Breaks Key Support On 25 June, we noted that the USD/CAD price had approached a crucial support level—the lower boundary of a converging triangle, which indicated a relative balance of supply and demand in the market during May. Since then, the price has bounced twice from this level (as indicated by the arrow). Today, as the USD/CAD chart shows, the exchange rate is breaking through this key support, indicating a disruption in balance. This has been influenced by the weakness of the USD. According to Reuters, the US dollar has declined relative to other currencies due to weaker-than-expected US economic data released on Wednesday. These included a weak ISM Services PMI report and the ADP Non-Farm Employment Change report, which might suggest an economic slowdown. How might the Canadian dollar's exchange rate change relative to the US dollar? According to today's technical analysis of the USD/CAD chart: → the price is moving within a descending trend channel (shown in red). The median line of the channel may serve as a resistance level; → the fact that bulls attempted to push the price upwards, breaking the peak at Point 1, but failed—a bearish signal; → the sharp rise to Peak 2 was followed by an even sharper fall—a sign of bearish engulfing. Therefore, the dominance of supply forces could lead to a continuation of the downward movement. It is not out of the question for the USD/CAD exchange rate to decline to the lower boundary of the red channel, with an attempt to break the May low around 1.359. However, sharp movements are unlikely today due to the celebration of Independence Day in the USA. Trade over 50 forex markets 24 hours a day with FXOpen. Take advantage of low commissions, deep liquidity, and spreads from 0.0 pips. Open your FXOpen account now or learn more about trading forex with FXOpen. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.by FXOpen228
USD/CAD H4 | Falling to swing-low supportUSD/CAD is falling towards a swing-low support and could potentially bounce off this level to climb higher. Buy entry is at 1.3590 which is a swing-low support that aligns with the 161.8% Fibonacci extension level. Stop loss is at 1.3537 which is a level that lies underneath a pullback support and the 78.6% Fibonacci retracement level. Take profit is at 1.3655 which is a pullback resistance. 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.Long03:40by FXCM116
USDCAD Will Go Higher! Buy! Take a look at our analysis for USDCAD. Time Frame: 2h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The price is testing a key support 1.362. Current market trend & oversold RSI makes me think that buyers will push the price. I will anticipate a bullish movement at least to 1.366 level. P.S Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback. Like and subscribe and comment my ideas if you enjoy them!Longby SignalProvider113
USDCAD Sell forecastUSDCAD New forecast👨💻👨💻 Note: Follow proper risk management rules. Never risk more then 2% of your total capital. Money management is the key of success in this business........ Set your own SL & TP. Shortby King_CityStar_Fx1
USDCAD- Bearish Trend ContinationThe pair is in downtrend overall, currently consolidation to continue it's down trend. If the pair is able to break its previous LL entry can be taken with previous LH as SLShortby kiki_crypto0