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U.S. Dollar / Canadian Dollar

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USDCAD trade ideas

Falling towards overlap support?USD/CAD is falling towards the support level that lines up with the 50% Fibonacci retracement and could bounce from this level to our take profit. Entry: 1.4369 Why we like it: There is an overlap support level that aligns with the 50% Fibonacci retracement. Stop loss: 1.4340 Why we like it: There is an overlap support level. Take profit: 1.4443 Why we like it: There is a pullback resistance level. 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.
Long
by VantageMarkets
BUY TREND in USDCAD market, it's consolidate in a range....📈 USDCAD Price Forecast 📈 The USDCAD market is currently consolidating within a range, positioned at a supply zone. The direction will depend on whether buyers or sellers take control at this critical level. 📌 Bullish Scenario: Buyers are gaining momentum, as indicated by the break above the 50 EMA and increased buying volume. If buyers dominate, a breakout above the supply zone is expected. 📌 Bearish Scenario: If sellers take charge at the supply zone, the price will likely break down below the 50 EMA, heading toward the demand zone. A bounce from the demand zone could lead to a renewed bullish move. 🎯 Technical Target Levels: - 1.4460 - 1.4520 - 1.4580 📌 Key Highlights: - Consolidation phase with potential for breakout or breakdown. - Watch for price action around the supply zone and 50 EMA for clear direction. - Volume indicates current buyer strength, but sellers could still influence the market. ✅ Stay Informed and Ready! Like, comment, and follow for precise updates and forecasts. Don’t miss the next big move—be prepared with actionable insights! 🚀 📢 Join the trading community for expert analysis and consistent success! #USDCAD #ForexTrading #TechnicalAnalysis #TradingSignals
Long
by TrendLogic1
Usdcad bearish entry level🌟 USDCAD Analysis 🌟 I shared this last before it got to the entry. We've seen a strong uptrend in #usdcad for a while now, but what's next? 📈 ✔️ Double high formation ✔️ A nice bearish engulfing pattern breaking out of the trend Now there is a retest on the trendline, and then it's time to buckle up for a bearish loooong ride! 🔥 Let's see how it plays out and if the bears can take control! 🐻 Note: This base on technical factors Two very high impact news this week, PPI and CPI
Short
by Goodnessawe
USDCAD SHORT incomingUSDCAD looks to be setting up for a nice short, its not quite ready yet and needs to break this small consolidation range and then fail at around 1.46 which has a major resistance zone. The idea has a number of confluence points with the DXY looking top heavy and too coinciding movement hitting a major resistance above 110 at 113. NFP news was good for the dollar which we saw it pump. More fundamentals in the near future will determine the WHEN for this move to start. Technically we are poised for the reversal with a target of 1.39, a support area and 0.618 fib zone. Currently we are trading at the high end of the trend with the RSI stating overbought territory. This may not play out next week and may take another couple of weeks. Forth coming events are USD - inflation rate data and CPI. Do you own analysis and please let me know your thoughts.
Short
by PLaceUrBetsPlease
USDCAD What Next? SELL! My dear friends, My technical analysis for USDCAD is below: The market is trading on 1.4397 pivot level. Bias - Bearish Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bearish continuation. Target - 1.4364 Recommended Stop Loss - 1.4413 About Used Indicators: A pivot point is a technical analysis indicator, or calculations, used to determine the overall trend of the market over different time frames. ——————————— WISH YOU ALL LUCK
Short
by AnabelSignals
2
USD/CAD: Key Support and Resistance Levels Ahead of Labor Market Traders are closely watching the USD/CAD pair as labor market data from both the United States and Canada are set to be released today. Forecasts suggest a decline in Canadian employment change from 59k to 24.9k, accompanied by a rise in the unemployment rate from 6.8% to 6.9%. In contrast, U.S. non-farm payroll data is expected to show a decrease in job creation to 164k, while the unemployment rate is anticipated to remain steady at 4.2%. These data releases are likely to impact the USD/CAD pair's movements significantly. Analysts suggest that higher employment rates in either country would support their respective currency, while rising unemployment rates would have a negative impact on the currency involved. Technical outlook Beyond today's data, the USD/CAD pair is currently trading in a bearish trend on the 4-hour timeframe after recently hitting a new low at 1.43045. Analysts view the recent upward movement as a corrective rebound, with a return to the 1.44271 level potentially reinforcing the likelihood of a further decline toward 1.43195. On the other hand, if the pair continues its upward trajectory and breaches the 1.44670 level with a 4-hour candle closing above this level, experts predict the trend could shift to a bullish direction.
by CFI
USDCAD -bias long Bullish indications: Pair is in bullish trend making higher high higher lows, and respecting MA 20 in day time frame , made a inverted hammer in 4 hr time frame , Inverted head and shoulder and hammer Ma 21 respected, in 1 hr -Bullish pennant broke out and again MA 20 respected which indicates bullish momentum in the is pair . Hence going long Trade plan bias long @ 1.4385 SL:1.4370 TP1:1.44000 TP2:1.4414 SL: Bearish : Made double top in day time frame with bearish engulfer candle and also bearish divergence.
Long
by gouthamkulal1
USD/CAD 4HR TF AnalysisUSD/CAD 4HR TF Analysis Trend Analysis On the 4-hour timeframe, USD/CAD is consolidating in a range, indicating market indecision. Despite the sideways movement, the larger timeframe still reflects an uptrend. Within this consolidation, the price has formed a bull flag pattern, a potential indication of bullish continuation. Currently, the price is near the minor key support level at 1.43700, which has been tested multiple times. Below this, another key level is at 1.43400, near a liquidity zone. If the price reclaims and breaks above these levels, it could trigger further upside momentum. Price Action Expectation: Wait for the price to break below the 1st minor key support at 1.43700. Observe liquidity formation around the 2nd minor key support at 1.43400. Look for a break above 1.43700, which could confirm a continuation of the uptrend. Trade Setup: Trade Type: Buy Stop Entry: 1.43840 (upon breakout confirmation above 1st minor key support) Stop Loss: 1.43460 (below the liquidity zone to avoid false breakouts) Take Profit: 1.44620 (targeting the next significant resistance level) This setup leverages the confluence of technical patterns, key levels, and market behavior to provide an informed trading decision. Fundamental Outlook: USD News (Unemployment Claims): Expected later today, with the previous forecast at 217K and the latest forecast at 221K. This data release could introduce volatility in USD pairs. CAD News (Retail Sales m/m): Scheduled for later today, with the previous forecast at 0.6% and the latest forecast revised to 0.2%. This weaker-than-expected data may exert downward pressure on the CAD, further supporting a bullish outlook for USD/CAD. Risk Management: Maintain a risk-to-reward ratio of at least 1:2 to maximize potential returns. Position size should align with your account equity and risk tolerance. Be cautious around liquidity zones to avoid premature stop-outs. Trading involves significant risks and may not be suitable for all investors. Ensure your strategies align with your financial goals and risk tolerance.
Long
by RebornFXTrader
USDCAD Bullish Flag PatternHi traders, USDCAD is showing a classic bullish flag pattern, signaling that the uptrend is likely to continue! After a strong rally (the flagpole), the pair has entered a consolidation phase, forming a tight range between support and resistance. This setup is primed for a breakout to the upside. 💡 Key Levels: TP1: 1.44960 TP2: 1.45706 TP3: 1.46614 Stop Loss: You can place your SL around 1.42831, just below the support level of the consolidation zone, to protect against false breakouts. This is a high-potential setup with a great risk-to-reward ratio. Watch closely for the breakout, and let’s aim for those profits! 💰🚀 Trade smart, and good luck! 🔥
Long
by Charts_M7M
Waiting for entryLet's wait for an entry on this trade. Support levels and price target have been set by doing a top down analysis. The price target is the ATH trading price for USDCAD, with looming tariffs and Trumps America First Agenda I'm speculating we will see USDCAD trade at its ATH again within the next 4 years. Im looking for an entry into this trade after the Canadian election, I want to see price come back down to a support level and then once market sentiment wears off from the election we will be looking for a reversal pattern on the smaller time frames.
by pitachio7712