Get started

U.S. Dollar / Canadian Dollar

No trades
See on Supercharts
Overview News
Ideas
Discussions Technicals Seasonals Economic Calendar

USDCAD trade ideas

USDÉCAD Technical Analysis - Daily Time Frame 🔁 Market Structure: The overall trend is bearish, with multiple Breaks of Structure (BOS) confirming sellers are in control. Recently, price formed a Change of Character (CHoCH) at the bottom, which may indicate the beginning of a bullish correction or a temporary reversal. The market is currently reacting from that low, showing signs of bullish pressure. 🟩 Demand Zone: The green zone (around 1.3400 – 1.3460) marks a strong daily demand area. This zone has shown previous bullish reactions and has not yet been fully tested in this leg. It could serve as a high-probability long entry zone if price returns to it. 🟥 Supply Zones (Targets): There are three red supply zones above, acting as potential take-profit levels for bulls or entry points for sellers: TP1 (7%) – Around 1.3444 TP2 (14%) – Around 1.3790 TP3 (29%) – Around 1.4224 🎯 Trade Scenarios: ✅ Bullish Scenario (Swing Trade Toward Supply) Item Details Entry Zone 1.3400 – 1.3460 (daily demand zone) Confirmation Bullish price action (e.g., engulfing candle, pin bar) Stop Loss Below demand (e.g., under 1.3350) Targets TP1: 1.3444 / TP2: 1.3790 / TP3: 1.4224 This setup offers a high risk-to-reward ratio if confirmed on lower timeframes. 🔴 Bearish Scenario (Continuation of Downtrend) Item Details Entry Zone From one of the supply areas (especially near 1.3790) Confirmation Bearish candle (e.g., bearish engulfing, rejection wick) Stop Loss Above the supply zone (e.g., 1.3850) Target 1.3450 initially or lower if demand breaks 📌 Final Thoughts: The market is currently in a correction phase. The best long opportunity is from the demand zone around 1.3400 – 1.3460, with proper confirmation. Targets are clearly marked based on supply zones. Short positions should wait for confirmation near those supply levels. ⚠️ Disclaimer: This is not financial advice or a recommendation to buy or sell. It reflects only my personal view of the market based on the current chart structure. Please do your own analysis and manage your risk accordingly before making any trading decisions OANDA:USDCAD
Long
by gholamali8905
USDCAD oversold rally capped at 1.3800The USDCAD pair continues to trade within a broader bearish trend, with recent price action suggesting a temporary oversold rebound. The pair is currently attempting to recover from near-term lows, yet remains capped below a key technical resistance level. Key Resistance: 1.3800 – This level marks a prior consolidation zone and represents immediate resistance. A test and rejection here would reinforce the broader bearish structure. Support Levels: 1.3670 – First major support, aligning with previous demand zones. 1.3635 – Secondary support, potentially acting as a pivot in extended declines. 1.3600 – Psychological and structural support; a break below would strengthen the bearish case. Bullish Scenario: A decisive breakout above 1.3800 with a daily close would invalidate the current bearish bias and could lead to a rally toward the 1.3850 and 1.3880 resistance zones. Technical Indicators: Momentum is showing early signs of recovery from oversold conditions, but lacks confirmation for trend reversal. Moving averages are tilted lower, reinforcing downside pressure unless a sustained breakout occurs. Conclusion: The bias for USDCAD remains bearish below the 1.3800 resistance zone. A rejection at this level could trigger renewed downside pressure toward 1.3670 and beyond. However, a confirmed breakout above 1.3800 and a daily close would shift momentum in favor of the bulls, opening the path for further upside retracement. Traders should monitor price action closely at 1.3800 for directional confirmation. 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
Subtle Trading Challenges: Under-Discussed Psychological and OpsWhile traders often focus on well-known pitfalls like fear, greed, or overtrading , there are other subtle issues that can quietly undermine trading consistency and mindset. Below are a few under-discussed problems – touching on both psychology and day-to-day operations that many traders face. Self-Worth Tied to Trading Performance Some traders unknowingly tie their self-esteem or sense of self-worth to their trading results. When they have a losing day, they don’t just lose money – they feel personally defeated. This can trigger intense negative self-talk and emotional reactions to losses, sometimes causing traders to abandon their strategy or second-guess decisions in the heat of the moment. Because admitting such vulnerability is often seen as a weakness in trading circles, this issue rarely gets openly discussed, even though it can greatly sabotage a trader’s confidence and long-term consistency. Analysis Paralysis and Decision Fatigue In the age of overflowing data, traders can fall into “analysis paralysis” – overanalyzing market information to the point where they can’t make a clear decision. With countless indicators, news feeds, and opinions, it’s easy to get bogged down comparing options until no clear choice emerges, and this inaction can lead to missed profitable opportunities. Moreover, the mental strain of constantly dissecting information can cause decision fatigue, quietly diminishing the quality of any trades that are made. Unlike impulsive errors, this problem often masquerades as diligence, so it doesn’t get much attention in public discussions – yet it can erode a trader’s decisiveness and stress levels over time. Constant Strategy Switching (System Hopping) Another subtle pitfall is the tendency to jump between trading strategies too frequently, known as “system hopping.” Eager for a perfect method, traders might abandon a system after just a couple of losing trades and immediately switch to a new approach, never giving any strategy enough time to prove its worth. This habit – often fueled by impatience or get-rich-quick expectations – means the trader is always restarting the learning curve and never capitalizing on a method’s long-term edge. It’s an operational inconsistency that traders seldom admit openly, but it quietly undermines confidence and prevents the development of a stable, repeatable trading process. Each of these problems tends to fly under the radar in trading forums or education, yet they subtly impact consistency and mindset. By recognizing these lesser-discussed challenges, traders can begin to address them and strengthen their overall discipline and performance.
Education
by Crusade1Jay
USDCAD Eyes Oct 2022 Resistance Once AgainFollowing the U.S.–Iran strike over the weekend, the U.S. dollar strengthened, posting solid rebounds across major dollar pairs. The USD/CAD chart, in particular, climbed back toward the 1.38 level. The pair is now eyeing a key resistance zone between 1.3840 and 1.3880, a range that has consistently held since October 2022. A decisive break and hold above this zone could pave the way for a continued rally toward the 1.40 mark. Conversely, a drop back below 1.3600 could signal renewed downside risk for 2025, in line with the broader bearish trend that has defined the year so far. — Razan Hilal, CMT
by FOREXcom
USD/CAD — Rising Wedge Reversal Loading… A steep rising wedge has formed — a classic bearish pattern often signaling exhaustion. Price is testing strong yellow resistance zones between 1.3795 – 1.3855. Entry Dates: 📅 June 23 & 24 — ideal windows to catch a possible reversal. 📉 Bearish Targets: → 1.3750 → 1.3700 → 1.3640 → More downside if momentum kicks in. 🧠 This setup screams “overbought squeeze → sharp drop”. Big players might be waiting to short the rip.
Short
by AngleHunter
USD/CAD Tests Key Resistance Amid Mixed Global Economic SignalsTechnical Analysis On the 4-hour chart, USD/CAD has broken above the 1.3746 resistance level, which corresponds to the top swing of the recent rally from 1.3687. The breakout above this level is a bullish signal, reinforced by a positive RSI reading above 70, indicating strong buying momentum. The MACD histogram is in positive territory, and the stochastic oscillator remains near overbought levels, showing sustained bullish energy. Price action seems to retest the broken upper boundary of a descending channel drawn from the last high near 1.3723-1.3747. This resistance zone near 1.3770-1.3783 also coincides with the 141.4% and 161.8% Fibonacci extensions, marking key targets for continuation should bulls maintain control. Alternative Scenario If the price fails to hold above the 1.3746 breakout level and retreats back below 1.3723 (61.8% Fibonacci retracement), we could see a pullback towards the lower support zone near 1.3687. A breakdown below this support may extend the correction into the mid-1.3600s, retesting the lower channel boundary.
Long
by Errante
Trade Idea: Sell USD/CAD **Why Sell USD/CAD?** **🇺🇸 U.S. Dollar (USD):** * **U.S. growth is slowing** → *Losing steam. A weaker economy means less support for the dollar.* * **Inflation still above 2%** → *Sticky, but not scary. Not enough heat for the Fed to tighten further — dollar stays dull.* * **Fed is on pause, no rate hikes ahead** → *The engine's idling. No fuel to push USD higher.* * **Market heavily short USD** → *Traders are already betting against it — and they might be right. Momentum is down.* --- **🇨🇦 Canadian Dollar (CAD):** * **Oil prices are back above \$70** → *Oil is CAD’s lifeline — and it’s flowing again. That props up the loonie.* * **BoC holding rates with a neutral tone** → *Not cutting, not panicking. Steady hands support CAD.* * **Core inflation still high (CPI-trim \~3.1%)** → *Quiet pressure. Enough to keep the BoC on alert — a silent strength for CAD.* * **More traders turning bullish on CAD** → *The crowd’s shifting — and the loonie is starting to feel the love.* * **CAD still sensitive to risk-off mood** → *If markets panic, CAD could slip. But for now, risk is manageable.*
Short
by Wainainarobert
USDCAD early reversal signs📈 USDCAD Analysis – 1H Chart (June 19, 2025) The USDCAD is showing signs of bullish exhaustion after a strong rally. The price is currently trading around 1.3710, just below the recent local high at 1.37117. 🔹 Bearish Divergence: Price action is forming higher highs, while RSI is forming lower highs — a classic bearish divergence, hinting at potential downside correction. 🔹 Support Zone: A clear demand zone is marked between 1.35800 - 1.36000, which acted as a breakout base and could serve as strong support if the price pulls back. 🔹 Ichimoku Cloud: Price is still trading above the cloud, indicating an ongoing uptrend. However, a potential retest of the cloud support is possible. 🔹 Dynamic Support: The 21 EMA is holding well, and price is currently retesting it. 🔹 RSI: RSI is above 50 but shows decreasing momentum, currently sitting near 59.26 with signal line crossing above at 64.36, suggesting weakening bullish momentum. 📊 Conclusion: The pair is overextended and showing early signs of reversal or correction. A break below the EMA and into the cloud may lead to a pullback toward the highlighted support zone. Watch price action closely for confirmation.
Short
by DayyanMuhammad
USDCAD – Bullish Reversal After Completed Wave 5 and AO DivergenAnalysis: The USDCAD daily chart shows a textbook completion of an Elliott Wave 12345 sequence. Wave (5) has just completed, supported by clear bullish divergence on the Awesome Oscillator (AO) – a classic signal suggesting exhaustion of bearish momentum. What strengthens the bullish reversal bias is the presence of a bullish engulfing candle at the end of Wave (5), right at a key structural low. This candle formation, combined with the divergence, provides strong evidence that a corrective wave (likely Wave A or a larger reversal) may be underway. 🔍 Key Confluences: Wave 5 ends in a falling wedge structure. AO shows higher low on Wave 5 compared to Wave 3 → Bullish Divergence. Bullish engulfing candle confirms momentum shift. Price action breaking out of the wedge pattern. 🎯 Trade Plan: I am waiting for a pullback toward the breakout zone to find an optimal buy entry. The ideal entry would be a retest of the bullish engulfing candle low or broken wedge resistance, turning into support. 📈 Targets: Initial short-term target: ~1.3850 (previous Wave 4 region). Mid-term potential: ~1.4050 depending on structure development. 🛑 Invalidation: A daily candle closing back below the low of the bullish engulfing will invalidate the bullish outlook.
Long
by AwesomeOscDad
USDCAD Wave Analysis – 18 June 2025- USDCAD broke daily down channel - Likely to rise to the resistance level at 1.3730 USDCAD currency pair recently broke the resistance trendline of the daily down channel from the start of May. The breakout of this down channel follows the earlier upward reversal from the pivotal support level 1.3545 coinciding with the lower daily Bollinger Band. USDCAD currency pair can be expected to rise to the next resistance level at 1.3730 (former strong support from May).
Long
by FxProGlobal