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USDCAD trade ideas

Analysis of the USD/CAD Exchange RateAs of last Friday, the USD/CAD exchange rate traded in the range of 1.3800 - 1.3850, down 0.0217% compared to the previous day. The key resistance level was 1.3844, and the support level was 1.3760. In the short term, the fluctuations are dominated by the US non - farm payrolls data and trade policies: strong US employment data may support the rebound of the US dollar. you are currently struggling with losses, or are unsure which of the numerous trading strategies to follow, at this moment, you can choose to observe the operations within our channel.
Long
by HilaryBloomer
USDCAD Technical Expert Review - 3 May 2025✅ Market Structure Summary: The market entered a distribution phase, clearly forming equal highs and a head & shoulders–like pattern. After breaking out of the descending wedge, price surged upward to tap the upper supply zone (gray), sweeping liquidity before dropping sharply. We now see price reacting to a mid-demand zone, with another deeper demand zone resting below. 📍 Key Technical Zones: 🔹 Upper Gray Supply Zone: This zone was tapped after liquidity was grabbed from the equal highs. Strong bearish rejection with impulse candles confirms it as a valid shorting zone. It remains active and could act as a trap if retested without proper bullish structure. 🔹 Mid-Demand Zone (current reaction point): Price is currently reacting from this area. Initial bullish reaction is visible, but the reaction isn't strong enough yet to confirm reversal. Weak buyer pressure (wicky candles) suggests vulnerability. 🔹 Lower Demand Zone (main target if breakdown occurs): If the current zone fails, price will likely drop toward this deeper demand block, which hasn't been mitigated yet. This area could offer a more solid foundation for a bullish reversal. 🔮 Forecast Scenarios: 📉 Primary Bearish Scenario: If price fails to create higher highs from the current mid-demand zone: Expect a continuation down toward the lower gray demand zone. If that breaks, price could target the green higher-timeframe demand around 1.37200. 📈 Alternative Bullish Scenario: If price builds structure and forms a higher high from this zone: A short-term rally back toward the upper supply zone is possible. However, without a strong breakout, that area still holds risk for another sell-off.
Short
by collegepips
USDCAD short (the week of 05 May) – deserves considerationIf you did not see my analysis of last week (link attached) or were not convinced, take another look at this pair. During last week we did have a bearish move but essentially price merely consolidated. I have redrawn my trend line (to reflect the current market situation) and I see a possible retest of this line or perhaps a bigger retracement, but the bearish pressure is clearly visible. Price is below the 200 dma and the next major support is around 1.3610. Anything is possible in the markets but it is my opinion that this setup has a good risk/reward ratio. Link - This is not a trade recommendation; it’s merely my own analysis. Trading carries a high level of risk, so only trade with money you can afford to lose and carefully manage your capital and risk. If you like my idea, please give a “boost” and follow me to get even more. Please comment and share your thoughts too!! It’s not whether you are right or wrong, but how much money you make when you are right and how much you lose when you are wrong – George Soros
Short
by Trading_Vista
Market Analysis: USD/CAD DipsMarket Analysis: USD/CAD Dips USD/CAD declined and now consolidates below the 1.3850 level. Important Takeaways for USD/CAD Analysis Today - USD/CAD started a fresh decline after it failed to clear the 1.3900 resistance. - There is a major bearish trend line forming with resistance at 1.3815 on the hourly chart at FXOpen. USD/CAD Technical Analysis On the hourly chart of USD/CAD at FXOpen, the pair climbed toward the 1.4000 resistance zone before the bears appeared. The US Dollar formed a swing high near 1.3890 and recently declined below the 1.3850 support against the Canadian Dollar. There was also a close below the 50-hour simple moving average and 1.3820. The bulls are now active near the 1.3770 level. The pair is now consolidating losses below the 23.6% Fib retracement level of the downward move from the 1.3892 swing high to the 1.3768 low. If there is a fresh increase, the pair could face resistance near the 1.3800 level. The next key resistance on the USD/CAD chart is near the 1.3815 level. There is also a major bearish trend line forming with resistance at 1.3815. If there is an upside break above 1.3815, the pair could rise toward the 1.3845 resistance or the 61.8% Fib retracement level of the downward move from the 1.3892 swing high to the 1.3768 low. The next major resistance is near the 1.3890 zone, above which it could rise steadily toward the 1.3950 resistance zone. Immediate support is near the 1.3770 level. The first major support is near 1.3720. A close below the 1.3720 level might trigger a strong decline. In the stated case, USD/CAD might test 1.3640. Any more losses may possibly open the doors for a drop toward the 1.3550 support. 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 FXOpen
1
USDCAD SHORT FORECAST Q2 W18 D1 Y25USDCAD SHORT FORECAST Q2 W18 D1 Y25 Professional Risk Managers👋 Welcome back to another FRGNT chart update📈 Diving into some Forex setups using predominantly higher time frame order blocks alongside confirmation breaks of structure. Let’s see what price action is telling us today! 💡Here are some trade confluences📝 ✅Intraday breaks of structure ✅Tokyo ranges to be filled ✅15' order block identified 🔑 Remember, to participate in trading comes always with a degree of risk, therefore as professional risk managers it remains vital that we stick to our risk management plan as well as our trading strategies. 📈The rest, we leave to the balance of probabilities. 💡Fail to plan. Plan to fail. 🏆It has always been that simple. ❤️Good luck with your trading journey, I shall see you at the very top. 🎯Trade consistent, FRGNT X
Short
by JCFRGNT
USDCAD INTRADAY sideways consolidationThe USDCAD pair is exhibiting a bearish sentiment, reinforced by the ongoing downtrend. The key trading level to watch is at 1.4060, which represents the current intraday swing low and the falling resistance trendline level. In the short term, an oversold rally from current levels, followed by a bearish rejection at the 1.4060 resistance, could lead to a downside move targeting support at 1.3780, with further potential declines to 1.3730 and 1.3630 over a longer timeframe. On the other hand, a confirmed breakout above the 1.4060 resistance level and a daily close above that mark would invalidate the bearish outlook. This scenario could pave the way for a continuation of the rally, aiming to retest the 1.4080 resistance, with a potential extension to 1.4160 levels. Conclusion: Currently, the USDCAD sentiment remains bearish, with the 1.4060 level acting as a pivotal resistance. Traders should watch for either a bearish rejection at this level or a breakout and daily close above it to determine the next directional move. Caution is advised until the price action confirms a clear break or rejection. This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
by TradeNation
USDCAD – DAILY OUTLOOK – APRIL 29Looking at the daily chart, USDCAD hasn’t done much in terms of our longer-term target but continues to reject 1.38618, which adds confluence to the bearish bias. That being said, the consistent failure to push higher makes me doubt we’ll see the deeper pullback to 1.39621—unless we get a strong fundamental catalyst. So for now: 📉 Current sell zones: – 1.37871 – 1.36647 🎯 First target = 1.34380 (300+ pips available) Will reassess if any news shifts the bias, but structure-wise we stay short.
Short
by Thetraderscollective
USDCAD SHORT IDEAUnder current market conditions, the area near 1.3849 has been identified as a critical resistance zone, where the AI model detects a high-probability trade setup. From a technical perspective, a clear directional bias based on recent price action patterns. Suppose the market demonstrates increased volume and price stability above key moving averages in the 1.3849 area. In that case, traders are advised to monitor for trend-continuation entry opportunities in alignment with the prevailing momentum. Profit targets are defined at 1.3819 and 1.3785, corresponding to logical technical support zones. These levels are designed for staged profit-taking across different trade management styles. Stop-loss should be strictly enforced at the designated level; once breached, the strategy is considered invalidated in order to limit potential downside.
Short
by FOREX_CRYPTO_MASTER