USDCAD forming bearish wedgeThe USDCAD looks to be forming the bearish wedge and opening a short position is profitable. With first target 1.41 and second the 1.40.
USDCAD trade ideas
CAD/USD 15-Minute Analysis: Head & Shoulders BreakoutCAD/USD 15-Minute Analysis: Head & Shoulders Breakout
On the 15-minute time frame, CAD/USD has formed a Head and Shoulders pattern, and the price has broken below the neckline trendline, signaling potential bearish momentum. Here's my idea:
Entry:AT 0.4146$
Target: The next significant support level, marked in the green zone.
This pattern suggests further downside, but as always, manage your risk carefully and monitor price action as we approach the target zone.
Let me know your thoughts and share your analysis below! 👍
USD/CAD Exchange Rate at a 56-Month HighUSD/CAD Exchange Rate at a 56-Month High
As evidenced by the USD/CAD chart, yesterday the rate climbed above 1.4190 – a level not seen since April 2023, when the world was gripped by panic over the spread of the coronavirus.
Today, the weakness of the Canadian dollar relative to the USD is being influenced by a rich fundamental backdrop. As reported by the media:
→ Formerly elected President Donald Trump has previously stated that he would impose a 25% tariff on all goods from Mexico and Canada as soon as he takes office on 20 January, joking that Canada should become the 51st state. Yesterday, Trump posted on social media that he looks forward to meeting with Canadian Prime Minister Trudeau again to "continue our in-depth discussions on tariffs and trade."
→ At 17:45 GMT+3 today, the Bank of Canada will announce its decision. It is expected to cut its interest rate by 50 basis points to 3.25% and likely signal that further rate cuts are possible in light of the sharp rise in unemployment levels.
→ At 16:30 GMT+3 today, the Consumer Price Index (CPI) data will be released. It is expected that US inflation will remain unchanged.
As a result, heightened volatility is highly likely today, which could significantly affect the nature of the current upward trend.
Note that on 25–26 November, a spike in volatility was observed on the USD/CAD chart, visible through the ATR indicator, which caused the channel's slope to become less steep. Today’s batch of news carries the highest significance: traders should prepare for both the scenario of a new 56-month high being reached and an attempt by bears to reverse the trend.
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USDCAD is in Bullish TrendUSDCAD is making new HH&HL it is creating matured bullish candles so and going to break the current resistance so the bias for this trade is bullish
1-hr USD/CAD: The Bulls Are In Control After the announcement of Trump’s proposed tariffs on Canada, USD/CAD surged by 200 pips within hours. Following this sharp increase, the pair experienced a correction, which drew additional buyers, reinforcing the clear and strong upward momentum. Currently, a Multiple Top pattern is forming near 1.4180, a pattern historically associated with breakout opportunities. However, short-term pullbacks remain likely, particularly given the ongoing market volatility. Traders looking to align with the broader uptrend in USD/CAD may consider waiting for such a pullback to secure a more favorable risk-reward ratio. Immediate support around 1.4130 stands out as a potential entry point, especially since it coincides with the 23% Fibonacci retracement.
USDCAD DOUBLE TOP PATTERNUSD/CAD Analysis: Double Top and Rising Wedge Patterns Detected
The USD/CAD pair is experiencing a bearish reversal, with two distinct patterns emerging:
Key Indicators:
- Double Top Pattern: A clear double top formation has been identified, indicating a potential reversal in the upward trend.
- Rising Wedge Pattern: A rising wedge pattern has also been detected, suggesting a bearish breakout may occur.
Key Levels:
- Resistance: 1.45102
- Support: 1.39000
- Target: 1.38000
- Stop Loss: 1.42641
Recommendation:
Caution is advised, as a bearish breakout may occur. Consider short-term sell positions or hedging strategies to mitigate potential losses.
Best Wishes Tom 😎
usdcadCPI data print will be watched as well as the bank of Canada BOC Rate Statement and Overnight Rate
BOC Press Conference
USDCAD - Looking to go long from H4 Demand ZoneHere we have USDCAD on H4. I am looking to go long at the Demand Zone as shown.
I need to see a bullish price action when price reaches the demand zone.
I will update accordingly once the trade is triggered.
USDCAD scalp short on exhaustion reversal
As always, we like to keep it clean and simple, with technicals and analysis that's easy to see and understand. Let's get into it:
1. Wave 5 exhaustion on mult timeframes
2. Overbought 30m/1h/1D
3. Shooting star candle printed on 1h
Analysts note that USDCAD is trading within a rising channel since late September, recently peaking at 1.4178. The bullish momentum suggests potential for further gains, but short-term corrections (ie. why we're scalping) are common as traders take profits and reassess positions.
Market Sentiment and Data Releases: With key U.S. and Canadian employment data released recently, markets may experience volatility as traders digest the information. This can often lead to short-term corrections as the market adjusts to new economic indicators.
Be Alert.
Trade Green.
#USD #CAD Short Set UpWe have a double top with bearish divergence. I will short on the break of 1.41665
Entry 1.41665
Stoploss 1.41953
TP-1 1.41377
TP-2 1.41089
#new week market insight tomorrow Cpi on USD would give us a big opportunity in the market so we want to wait for the big move
meanwhile we can catch a short on usdcad
Does the Canadian dollar have a bullish surprise up its sleeve?This is the question I am asking myself as we head into 2025. CAD has been the weakest major for some time now based on the BOC's easing cycle, and we saw a record level of net-short exposure against it in August, and another surge of shorts in November. This strikes me as a stale trade that is vulnerable to a shakeout, and it might not require a particularly large catalyst for CAD bears to capitulate and send USD/CAD lower.
MS
USDCAD - 4hrs ( Buy Trade After Retest Tp Range 180 PIP )Pair Name :USD/CAD
Time Frame : 4hrs Chart / Close
Scale Type : Large Scale
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Key Technical / Direction ( Long After Retest )
———————————
Bullish Retest
1.41100 Area
reasons
- Major Turn level
- Visible Range Hvn
- Pattern Retest
- CHoch zone
- Fibo Golden
Bearish Reversal
1.43000 Area
Reasons
- Major Turn level
- Visible Range Hvn
- pattern Target
- Visible range Hvn
- Fibo Golden Zone
Triple zig ag for wave B after the impulse down overnight? Looks like a B wave triple zigzag near completion. A push down into a c wave would setup the buy into a nice order block around 14040-14060
Pullback hunt on USDCADAs it looks now, USDCAD should have a decent pullback towards 1,40400. My plan is to wait for 15M structure break, then monitor the retest on the lower TF(15M, 5M, 1M) and if this retest will hold(CHOC, BOS on lower TF) I will enter to the trade. Do not set SELL STOP orders at the entry line and don´t sell higher(because of better price). Wait till entry conditions are met. I will update this trade, so you will get the message. TP your trade partially. When price moves in your favour, set SL to BE, but give it some space to "breath". Wish you good luck.
P.S. I´m not a signal service, do not sell anything. If you want to buy something, please contact one of the signalist who will comment this idea. If you want to learn and discuss, you know what to do. Invest your time to learning instead of buying signal on a some kind of premium channel.
USDCAD Potential UpsidesHey Traders, in today's trading session we are monitoring USDCAD for a buying opportunity around 1.40200 zone, USDCAD is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 1.40200 support and resistance area.
Trade safe, Joe.
Read The USDCAD MarketLet's Looking at USDCAD Price Actions and Predict the Next Moves and Maybe Finding Some Trade Opportunities, Good Luck With Your Trades <3
#USDCAD USD/CAD Possible move in Intraday. Targets and stop loss on chart. Follow money management and use trail stop loss.
OANDA:USDCAD
USDCADWe looking for selling opportunities as the market is respecting the supply zone resulting in sells to the downside|1H TIMEFRAME
USDCAD sellUSDCAD formed an wedge which is a reversal pattern indicating a trend change. The market is forming a H&S which is a confirmation for a potential bearish move. SL above the head.
USDCAD Analysis - Bullish - Trade 041. Seasonality
The CAD is bullish during the first week of December, while the USD exhibits bearish momentum. This combination suggests a bearish outlook for USDCAD based on seasonality.
2. COT Report
The COT report for the CAD suggests a sell. On the other hand, the COT report for the USD suggests a buy, indicating increasing strength for the USD. This could provide upward pressure on USDCAD.
3. Fundamental Analysis
LEI
The USDCAD LEI is increasing, which signals potential strength for the USD and could favor upward movement in USDCAD.
Endogenous Factors
The endogenous factors for the USD are increasing, suggesting bullish momentum for the USD, while the CAD's endogenous factors show weakness, further supporting a potential rise in USDCAD.
Exogenous Factors
Exogenous indicators for USDCAD show a decreasing trend, suggesting some resistance to further bullish momentum, which could limit the upside potential of USDCAD.
4. Technical Analysis
USDCAD is forming an ABCD pattern, with the C point retracement at the 0.79 Fibonacci level.
Bias
The combined analysis suggests a bullish bias for USDCAD
Trade Plan
Entry: 1.40481
SL: 1.39756
TP: 1.41206
