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U.S. Dollar / Canadian Dollar

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USDCAD trade ideas

USDCAD Is Bearish! Sell! Here is our detailed technical review for USDCAD. Time Frame: 12h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The price is testing a key resistance 1.431. Taking into consideration the current market trend & overbought RSI, chances will be high to see a bearish movement to the downside at least to 1.413 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!
Short
by SignalProvider
1
USDCAD: Tariffs delayedThe elephant in the room The focal point of late has undoubtedly been US President Trump’s proposed tariffs on Canadian goods shipped to the US. A 25% universal tariff rate would be troublesome for the Canadian economy—despite the exemption for energy products. But it would also have a notable stagflationary effect on the US—making it an expensive strategy for Trump. Further, Canada laid out its retaliation strategy which is designed to respond in kind. We still think the tariffs will not be implemented in that form and “deal making” will remain key in the Trump administration’s strategy. Canada not in a good place to begin with Canada remains in a weak negotiation spot politically without a functioning government in place and new elections likely later in 2Q. Moreover, the economy is hurting given its high interest-rate sensitivity and elevated Bank of Canada (BoC) policy rates for some time. Accordingly, the BoC struck a cautious tone in their policy meeting last week and noted their readiness to react to any economic shock in relation to US tariffs. This would be much needed given fiscal stimulus is unlikely to come to the rescue given Parliament remains prorogued until March. USDCAD to retest 1.46 highs—even without tariffs The market reaction to Trump’s proposed tariffs was rather benign and was completely reversed following the delay in implementation. From here, we do not see much of a risk premium priced into USDCAD and, rather, the pair trades below what rates differentials suggest. While we do not expect the tariffs to be implemented in the aforementioned form, a risk of some adverse trade action remains. We think USDCAD can test 1.46 again in the coming months before edging lower later in the year. Broader USD strength might also be enough to get there—even in the absence of tariffs on Canada.
Long
by AccuTrade2000
USDCAD Could move 1,064pips up the next month.The reasons why I strongly believe this move will happen are the following: According to the CFTC non-commercials are shorting CAD. Non-commercials have 20,388 positions long and 68,914 positions shorts. This means that they are selling more CAD than they actually buying it. According to this info we could expect a move to the upside. From a monthly perspective there is plenty of buy side liquidity in USDCAD. If you look at the chart you will see two blue circles and a dollar bill between them . Those highs have not been liquidated yet. The price is aggressively chasing those highs. According to the explanation provided the price is extremely bullish because is moving to a strong liquidity area. From monthly perspective the price already liquidates sell side liquidity. If look at the chart you will see a yellow circle . The yellow circle represents the sell side liquidity that was liquidated by the price. The price has bullish structure. The price is making higher highs will doing so liquidating sell side liquidity. There is a lot of optimists about the dollar getting stronger in the near future. DXY has bullish structure. The DXY is currently making a retracement. It is currently at 50%. We could assume that is very close to be ready because it took sell side liquidity as well. In other words, the CAD is getting weaker and the USD stronger.
Long
by Wiiso
2
USDCAD BEARISH MOMENTUM The price has been in an uptrend since September, making higher highs and higher lows. A sharp rejection from the recent high indicates potential bearish pressure. The price is currently hovering near a support leveL , The chart also indicates a possible head and shoulders reversal pattern. If the price breaks below the (support), it may continue down towards the 1.38542 level. If the price bounces from the support zone, a temporary bullish retracement could occur before further downside.
Short
by MIRZA_TRADS
1
USDCAD Wave Analysis – 6 February 2025 - USDCAD reversed from the support zone - Likely to rise to resistance level 1.4400 USDCAD currency pair recently reversed from the support zone between the pivotal support level 1.4290, which has stopped the previous corrections A, C , as can be seen below and the lower daily Bollinger Band. The upward reversal from this support zone created the daily Japanese candlestick reversal pattern Doji, which stands near the 50% Fibonacci correction of the previous upward impulse from November. Given the clear daily uptrend, USDCAD currency pair can be expected to rise to the next resistance level 1.4400.
Long
by FxProGlobal
Trump proposes Canada to become the 51st stateOn February 1 , Donald Trump signed an executive order imposing 25% tariffs on imports from Mexico and Canada, along with 10% tariffs on Chinese goods. In response, Canada announced retaliatory tariffs of 25% on $155 billion worth of U.S. goods, with an initial phase of $30 billion taking effect on February 4. Mexico also implemented counter-tariffs. Trump reaffirmed his intention to impose tariffs on European imports but did not specify the details. On February 2 , Trump stated that if Canada wants to avoid tariffs and taxes, it should become the 51st state of the United States. He argued that the U.S. should not be subsidizing Canada with hundreds of billions of dollars, as the country does not rely on Canadian resources. According to Trump, the U.S. has “unlimited energy resources,” sufficient timber supplies, and a growing domestic automobile industry. He added that without U.S. subsidies, Canada would struggle to remain economically viable, whereas joining the U.S. would provide lower taxes, better military protection, and exemption from tariffs. On February 3 , during the European session, the following market trends were observed: U.S. stock futures declined by 1.5–2.5%. The U.S. Dollar Index rose 1%, reaching 109.50. EUR/USD opened with a major bearish gap, dropping to 1.0210, losing over 1%. GBP/USD fell below 1.2250 due to dollar strength. In Australia, December retail sales fell by 0.1%, which was better than expected but failed to support the AUD. As a result, AUD/USD dropped 1.2%, falling below 0.6100. USD/CAD surged significantly to 1.4792, the highest level since 2003. USD/MXN hit 21.2882, marking a three-year high. After reaching a record $2,800 on Friday, gold corrected lower on Monday, trading below $2,775.
by Fresh-Forexcast2004