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U.S. Dollar / Canadian Dollar

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USDCAD trade ideas

USD/CAD(20250429)Today's AnalysisMarket news: The U.S. Treasury Department raised its second quarter debt forecast to $514 billion. U.S. Treasury Secretary: The "X Day" for the debt ceiling issue will be announced soon. Technical analysis: Today's buying and selling boundaries: 1.3845 Support and resistance levels: 1.3921 1.3892 1.3874 1.3816 1.3798 1.3769 Trading strategy: If the price breaks through 1.3845, consider buying, the first target price is 1.3874 If the price breaks through 1.3816, consider selling, the first target price is 1.3798
Short
by Toml1314
Canadian Dollar Rises Amid Tariff Concerns and Oil GainsHello, FX:USDCAD : The Canadian dollar slightly rose against the U.S. dollar, with bond yields reaching multi-month highs, partly recovering from recent declines due to U.S. trade tariff threats. The loonie traded at 1.4405 to the U.S. dollar, recovering from a near 5-year low in December. Concerns about potential U.S. tariffs and their impact on the Bank of Canada have influenced the market. Despite strong job data in December, investor confidence in further BoC rate cuts has waned. Speculators have increased bearish bets on the Canadian dollar. Meanwhile, the U.S. dollar gained against major currencies as expectations for Federal Reserve rate cuts diminished. Oil prices rose 2.9% to $78.82 per barrel due to anticipated U.S. sanctions on Russian oil. The Canadian 10-year yield increased to 3.507%, marking its highest level since July 9. For this pair a bearish reversal is still anticipated in the near future! No Nonsense. Just Really Good Market Insights. Leave a Boost TradeWithTheTrend3344
Short
by TradeWithTheTrend3344
Canadian dollar in holding pattern on Election DayThe Canadian dollar is showing limited movement on Monday. In the European session, USD/CAD is trading at 1.3868, up 0.10% on the day. There are no economic releases out of the US or Canada today. It's Election Day in Canada. Prime Minister Mark Carney, who has only been in office since March, is favored to win the election. Carney's Liberal Party was badly trailing the Conservatives but US President Trump has ignited Canadian nationalism and turned the election race upside down. Trump has talked about annexing Canada and although most Canadians don't expect that to happen, there is strong resentment against the US tariff policy, which has hit Canada even though the two countries have a free trade agreement. Carney is viewed as a strong leader who can stand up to Trump and the markets have priced in a Liberal majority. If the Liberals are forced to make a coalition with the smaller parties, the new government would be considered less stable and that would likely trigger some CAD weakness. If the Conservatives manage to pull out a surprise election victory, the Canadian dollar would likely get a boost. Canada's retail sales declined 0.4% m/m in February but bounced back in March with a strong gain of 0.7%. On an annualized basis, retail sales slipped to 4.7% in February, down from a revised 5.3% in January. The improvement in March was driven by consumers making purchases ahead of US tariffs, but consumer spending is likely to deteriorate. The Bank of Canada will be keeping a close eye and will have to consider further rate cuts if upcoming economic data is weak. The BoC maintained the cash rate at 2.75% earlier this month and meets next on June 4. USD/CAD is testing resistance at 1.3868. Above, there is resistance at 1.3880 and 1.3910 1.3850 and 1.3838 are the next support levels
by OANDA
#USDCAD 1HUSDCAD (4H Timeframe) Analysis Market Structure: The price has broken above a key resistance level and is currently showing signs of a retest. A successful retest of the broken resistance as support indicates that buyers are maintaining control, suggesting potential for further upward movement. Forecast: A buy opportunity can be considered if the price confirms the retest and starts to show bullish momentum, supporting the continuation of the breakout move. Key Levels to Watch: - Entry Zone: Look for buying signals around the retest area of the previous resistance turned support. - Risk Management: - Stop Loss: Placed below the retest support zone to manage downside risk. - Take Profit: Aim for higher resistance zones or key Fibonacci extension levels as potential targets. Market Sentiment: The breakout followed by a retest suggests a shift toward bullish sentiment. However, proper confirmation through bullish candlestick patterns or momentum indicators is advised before entering the trade.
Long
by PIPSFIGHTER
USDCAD 15-Min Setup: Buyers Defend Crucial ZoneGood morning traders, Trust you are doing great. Kindly go through my analysis of USDCAD currency pair. Overview The USDCAD M15 chart presents a bullish price setup around the 1.38350–1.38410 support zone, with current price action consolidating just above this area. Idea Price bounced off the key support zone (blue box), suggesting buyer interest. The BB Squeeze momentum indicator shows weakening selling pressure, which could signal an upcoming bullish move. Key Support: 1.38350 Upside Targets: 1.38650, 1.38880, and 1.39039 Invalidation: Setup fails if price breaks below 1.38280 From the fundamental context, we can see that the Canadian dollar (CAD) is moving more in sync with the U.S. dollar (USD) again, a return to its historical behavior. This happens because Canada was spared from certain tariffs, making its economy more closely tied to U.S. growth sentiment—a key bullish factor for CAD when the USD strengthens. But because CAD is now closely tied to U.S. sentiment, CAD won't weaken as sharply, which might explain why the price is consolidating instead of spiking aggressively. As such, we might see a slow but steady move on the pair as time progresses. Conclusion As long as the price holds above the 1.38350 support zone, a bullish continuation toward the mentioned targets is likely. Cheers and happy trading.
Long
by Samuel124
1
Positive trade talks fuel USD recovery.🔔🔔🔔 USD/CAD news: ➡️ The USD/CAD pair rebounded from its recent losses seen in the previous session, trading around 1.3870 during Friday’s Asian session. The pair is stronger as the U.S. dollar gained traction, supported by optimism over potential U.S. trade deals. The greenback attracted some dip-buying interest after Thursday’s mild decline and found additional support from upbeat U.S. macroeconomic data. Personal opinion: ➡️ USD is on the rebound and performing better than CAD. Therefore, the main trend for this pair is still bullish in the short term ➡️ Analysis based on resistance - support levels and trend lines combined with SMA to come up with a suitable strategy Personal plan: 🔆Price Zone Setup: 👉Buy USD/CAD 1.3866 - 1.3850 ❌SL: 1.3830 | ✅TP: 1.3920 - 1.3970 FM wishes you a successful trading day 💰💰💰
Long
by FM-ForexMastermind
1
USD/CAD – Major Trendline Rejection + Bullish Reversal ZoneUSD/CAD is currently forming a bullish reversal setup on the weekly timeframe, suggesting a potential longer-term move to the upside. Right now, the price is rebounding from a long-term ascending trendline, which has acted as dynamic support since 2021. This level also aligns with a prior resistance-turned-support zone, adding confluence. Volume has spiked recently, signaling strong market interest at this level. ⚠️ If price holds above 1.3800 and breaks above the recent weekly highs, we could see a bullish continuation toward the 1.4650–1.4800 supply zone. 🎯 🔹 Trade Setups to Consider: 1️⃣ Weekly Trendline Bounce Entry 📍 Entry: 1.3886 🛑 Stop Loss: 1.3723 🎯 Targets: 1.4140 ➡️ 1.4650 2️⃣ Breakout & Retest Entry 📍 Entry: 1.4140 (on retest after breakout) 🛑 Stop Loss: 1.3950 🎯 Target: 1.4800 📌 Risk Management Tip: This setup is based on a higher timeframe, so wider stops and longer holding periods are expected—size your positions accordingly. 💬 What’s your view on USD/CAD? Drop your thoughts below 👇 #Forex #TradingSetup #WeeklyChart #PriceAction #TechnicalAnalysis #TradeIdeas #USDCAD #TrendlineSupport #BullishReversal #MacroSetup
Long
by ByteSignals
2
USD/CAD ConsolidatesUSD/CAD Consolidates In the second half of April, the USD/CAD chart has shown a decline in volatility following significant spikes observed since February. The Canadian dollar has stabilised against the US dollar within the 1.390–1.380 range over the past week, as market participants assess what a fair USD/CAD rate might be, given the evolving news backdrop: → The US dollar gained upward momentum on hopes of easing trade tensions between the US and China, although the information remains conflicting — Trump claims negotiations are ongoing, while Beijing denies this. → Oil prices — a key Canadian export — have recovered by more than 10% from their April lows, providing support for the Canadian dollar. → Economic data published this week suggests a cooling in the Canadian economy: employment is declining, and the pace of average wage growth has slowed to 5.4%. → Although an important political event — the Canadian Parliamentary elections — is set to take place this weekend, it appears to have had little impact on the USD/CAD exchange rate so far. Trade tariffs between the US and Canada likely remain the dominant concern. Technical Analysis of the USD/CAD Chart Price fluctuations have formed a descending channel that originated in March. From a bearish perspective, resistance may be encountered at: → the median line of the channel; → the psychological level of 1.400. From a bullish perspective: → the price has formed a rounding bottom pattern near the 1.380 level; → the lower boundary of the channel is acting as significant support. It is possible that the weekend will bring key developments that could act as catalysts, breaking the established range between 1.390 and 1.380. 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 – 4H Bullish Divergence Setting Up for a Potential ReversUSDCAD – 4H Bullish Divergence Setting Up for a Potential Reversal 🚀🔄 Hey traders 👋 USDCAD is flashing some early signs of a potential trend shift on the 4H chart, and it’s coming straight from one of the most reliable clues in technical analysis — bullish divergence. Let’s walk through it. 📈 Price Making Lower Lows, But RSI Isn’t So here’s what’s happening: price action has been sliding lower, printing a series of lower lows — looks bearish on the surface, right? But when you peek under the hood and check out the RSI, you’ll notice something interesting. The RSI is actually making higher lows during the same period. That’s classic bullish divergence, and it’s usually a sign that selling pressure is weakening, even if price hasn’t caught up to that idea yet. Momentum is starting to shift, and the bulls may be loading up in the background. 🔍 What This Means This setup tells us that while bears have been in control, they’re losing strength. Buyers are quietly stepping in, and if price confirms with a breakout or a structure shift — we might be looking at a solid reversal opportunity. These divergences can often be the first clue before a full-blown reversal. Not something to trade blindly, but definitely something to prepare for. 💡 Watch For Confirmation Look for structure breakouts (trendline cracks, minor resistance flips, etc.) Volume rising on bullish candles = extra confidence A strong bullish engulfing candle or a higher low can be a great signal to jump in Patience is key here. Let the market show its hand, then act. 📌 The Setup Looks Promising – But Timing Is Everything. Are you spotting the same divergence? Or waiting for more signs before stepping in? #USDCAD #Forex #BullishDivergence #4HChart #RSI #TrendReversal #ForexTrading #PriceAction #SmartMoney
Long
by MAAwan