usdcad lomgusd/cad still in a bullish channel.
flag pattern
trump wants to revive oil production to have cheap energy, which is not good for the cad
target at 1.4675 after breakout or top of the channel
USDCAD trade ideas
USDCAD Short on Tentitive Regression BreakUSDCAD has move 8% over 80 trading days and has created a tentative net short bias.
US$ is turning across a number of pairs, however volatility is due to arrive on the 20th with the start of Trump Presidency
USDCAD STRONG BULLISH TRENDUSDCAD is in a strong bullish trend . a buy opportunity is in place after a pullback down .
Good LUck
USDCAD LongUSDCAD has had a decent retracement and retesting last resistance at 1.437 and could be trying to find support.
I am long USDCAD.
Accumulation phase - Wait for breakout...We have a Major ascending channel on the daily time interval
And a minor ascending channel on the hourly time intervals,
With price accumulating at a weekly resistance level
We will wait for a breakout or rejection to take place.
USDCAD Will Fall! Sell!
Here is our detailed technical review for USDCAD.
Time Frame: 1h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a key horizontal level 1.441.
Considering the today's price action, probabilities will be high to see a movement to 1.439.
P.S
Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all.
Like and subscribe and comment my ideas if you enjoy them!
USDCADBulish Bais
1:dow theory Bulish
2:no divergence
3:trend line fallow price
4:test trend line candle stick pettren
(Bulish engluf ) make .
entry 1.40594
SL:1.39050
TP 1.41598
RRR1:1.34
USDCADBulish Bias
1:dow theory Bulish
2:no divergence
3:trend line fallow price
4:test trend line candle stick pettren
(Bulish engluf ) make .
entry 1.40370
SL:1.39256
TP 1.41598
RRR1:1
USD_CAD RESISTANCE AHEAD|SHORT|
✅USD_CAD is about to retest a key structure level of 1.4470
Which implies a high likelihood of a move down
As some market participants will be taking profit from long positions
While others will find this price level to be good for selling
So as usual we will have a chance to ride the wave of a bearish correction
SHORT🔥
✅Like and subscribe to never miss a new idea!✅
USDCAD Consolidation: Eyeing a Breakout Above Key Resistance USDCAD is currently trading at 1.443, with a target price of 1.490, suggesting a potential gain of over 500 pips. The analysis is based on the support and resistance pattern, indicating that the pair is holding its main resistance level. A breakout above this resistance level is being anticipated. Currently, the pair is in a consolidation phase, where price movements are relatively limited. This phase often signifies market indecision and can precede significant price action. Traders are closely monitoring the breakout potential, as a breach of resistance could signal strong upward momentum. The technical setup suggests bullish sentiment, with the resistance level acting as a critical price point. If the breakout occurs, it may confirm the continuation of the uptrend. However, traders should remain cautious and consider potential reversals if the resistance holds.
USDCAD Forecast: Time to Buy!Based on the latest analysis using the EASY Trading AI strategy, my outlook for the USDCAD currency pair is decidedly bullish. The current entry price of 1.43916 presents a viable buying opportunity, aiming for a take profit level of 1.44094667, while setting a stop loss at 1.43690667.
Several factors contribute to this optimistic stance. The overall trend has shown a consistent upward movement fueled by positive economic indicators from Canada, coupled with underlying U.S. dollar weakness due to concerns regarding monetary policy shifts. Additionally, momentum oscillators signal significant buying interest, suggesting that traders are eager to enter this market.
The technical setup further supports this buy signal, as we see strong support around the current price level. The presence of multiple bullish candlestick patterns indicates potential for a rally. The EASY Trading AI model has consistently outperformed expectations with its precision, and based on its empirical data, this trade has a high probability of success.
For those trading on their own, keep a close watch on news releases and global economic shifts, as these can impact currency valuations. Alternatively, consider utilizing our automated trading bots that follow the EASY Trading AI strategy to manage your positions effectively without the need for constant monitoring.
Engage with this opportunity wisely! 🌟 Happy trading!
USDCAD Possible LongW1 : Bullish
D1 : Bullish
4H : Bullish Market Structure
1H : Currently Bearish
Narrative : Price is currently Coming out of weekly IMB by sweeping Previously weekly low > We had a Daily IMB in the way that got violated by 4H PA and retracing back to the 4H OB after tapping into 4H Area of struggle > 1H is currently Bearish
Entry Pattern : Currently Hourly Price action is bearish retracing back to 4H OB, after coming inside the OB we can look for some sort bullish sign to enter long position. First context target can be simply 1:2RR / Weak High. Eventually Price can attack Realtive Equal Highs on Top since there are no AOS upside.
USD/CAD in holding pattern ahead of US, Cdn. jobs dataThe Canadian dollar started the week with strong gains but has shown little movement since then. In the European session, USD/CAD is trading at 1.4411, up 0.12% at the time of writing. We could see stronger movement from the Canadian dollar in the North American session, with the release of Canadian and US employment reports.
Canada's economy may not be in great shape but the labor market remains strong. The economy added an impressive 50.5 thousand jobs in November and is expected to add another 24.9 thousand in December. Still, the unemployment rate has been steadily increasing and is expected to tick up to 6.9% in December from 6.8% a month earlier. A year ago, the unemployment rate stood at 5.8%. This disconnect between increased employment and a rising unemployment rate is due to a rapidly growing labor market which has been boosted by high immigration levels.
Another sign that the labor market is in solid shape is strong wage growth. Average hourly wages have exceeded inflation and this complicates the picture for the Bank of Canada as it charts its rate path for early 2025. The BoC has been aggressive, delivering back-to-back half point interest rate cuts in October and December 2024. Inflation is largely under control as headline CPI dipped to 1.9% in November from 2% in October. However, core inflation is trending around 2.6%, well above the BoC's target of 2%. The central bank is likely to take a more gradual path in its easing, which likely means that upcoming rate cuts will be in increments of 25 basis points. The BoC meets next on Jan. 29.
In the US, all eyes are on today's nonfarm payrolls report. The market estimate stands at 160 thousand for December, compared to 227 thousand in November. The US labor market has been cooling slowly and the Federal Reserve would like that trend to continue as it charts its rate cut path for the coming months. An unexpected reading could have a strong impact on the direction of the US dollar in today's North American session.
USD/CAD is testing resistance at 1.4411. Above, there is resistance at 1.4427
1.4388 and 1.4372 are the next support levels
SELL TREND in USDCAD market, Breakdown the range...📉 USDCAD Price Forecast 📉
USDCAD has been consolidating in a rectangle range between 1.4340 and 1.4460 at the top of the trend. Now, the pair has broken down this range with a strong bearish candle, signaling the start of a downtrend.
OANDA:USDCAD
An order block at 1.4340 may lead to a retracement before further declines. However, if the price skips retracement, it may fall directly toward the targets.
The 200 EMA will act as support in the first phase—if this level is broken, expect a confirmed drop toward lower targets.
🎯 Technical Target Levels:
1.4185, 1.4135, 1.4100, and 1.4020.
📌 Key Highlights:
- Range breakdown confirmed with bearish momentum.
- Order block at 1.4340 may trigger retracement.
- 200 EMA support—break below confirms further downside.
✅ Stay informed and trade smart!
Like, comment, and follow for more accurate forecasts and updates.
Don’t miss the next profitable moves—join now! 🚀
📢 Dominate the market—trade with confidence!
Bullish momentum to extend?The Loonie (USD/CAD) has reacted off the pivot and could rise to the 1st resistance.
Pivot: 1.4303
1st Support: 1.4303
1st Resistance: 1.4469
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
USDCAD - Long Trade (10th Jan 2025)Straightforward long trade setup on USDCAD. Not aiming for anything high. Just want to illustrate the efficacy of this type of setup based on low-hanging fruit objectives, which in this case is the immediate swing high. Why not the other one since it is so close? Well, sometimes we get additional manipulation. Today is also NFP, so will take any moves against me before pushing up with a grain of salt.
- R2F Trading
USDCAD Forecast: Ready for a Bullish Surge!I'm excited to share my latest analysis on the USDCAD currency pair. Based on the insights from the EASY Trading AI strategy, I'm inclined to recommend a Buy position for USDCAD at the entry price of 1.43916.
Why the bullish outlook? Firstly, current market dynamics indicate strong support, and previous bullish momentum suggests that the pair is poised for upward movement. We're targeting a Take Profit at 1.44094667. This level aligns with previous resistance points, serving as a potential pivot for further gains.
To protect our position, I advise setting a Stop Loss at 1.43690667. This provides a safety net while offering an acceptable risk-reward ratio, ensuring we can capitalize on favorable price movements without taking on excessive risk.
It's important to remember that although our analysis is underpinned by the solid foundations of the EASY Trading AI strategy, trading always entails risk. Staying informed about market fluctuations and adhering to sound risk management practices are crucial for success.
For those looking to automate their trades, consider exploring the options available through our trading bots that utilize the same strategy.
Happy trading!
USDCAD Wave Analysis 9 January 2025
- USDCAD reversed from support zone
- Likely to rise to resistance level 1.4450
USDCAD currency pair recently reversed up from the support zone located between the support level 1.43000, 20-day moving average and the support trendline of the sharp daily up channel from September.
This support zone was further strengthened by the 38.2% Fibonacci correction of the upward impulse from last month.
Given the clear daily uptrend, USDCAD currency pair can be expected to rise to the next resistance level 1.4450 (which stopped the previous waves (3) and B).
