USDCAD longAfter the BoC interest rate decision being released, I'm long the USDCAD SL below the New York session open.
USDCAD trade ideas
Potential bearish drop?USD/CAD is reacting off the resistance level which is a pullback resistance and could drop from this level to our take profit.
Entry: 1.3849
Why we like it:
There is a pullback resistance level.
Stop loss: 1.3946
Why we like it:
There is a pullback resistance level.
Take profit: 1.3750
Why we like it:
There is a pullback support level that lines up with the 23.6% Fibonacci retracement.
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USDCAD Possible SELL The market is currently testing the current Weekly structure area. Based on Daily TF, the market seems to be forming a possible reversal chart pattern.
We could see Sellers coming in strong should the current level hold.
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Please be advised that the information presented on TradingView is solely intended for educational and informational purposes only.The analysis provided is based on my own view of the market. Please be reminded that you are solely responsible for the trading decisions on your account.
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Trading in foreign exchange on margin entails high risk and is not suitable for all investors. Past performance does not guarantee future results. In this case, the high degree of leverage can act both against you and in your favor.
USD/CAD WHATS GOING ON?As you can seeif we go to a more high timeframes we can see the importance that the weekly support and resistence have if we make e a quick look of it the pric its now heding again to this zone and we dont know exactly whats happening with the price, we have 3 options, to make the same reaction to the downside, to make a fake breakout and then go to the downside, or to relly make a breakout and start making new historical highs in this pair. If you like my ideas please support me.
USDCAD Sell signal may be triggered soon.USDCAD is on a continuous rise since the September 24 low inside a Channel Up.
The pattern however broke this week sideways and is already showing the first signs of exhaustion as the RSI (4h) is printing a topping pattern similar to August 5th.
Still though, the MA50 (4h) is supporting.
Trading Plan:
1. Sell if the price crosses below the MA50 (4h).
Targets:
1. 1.36500 (potential contact with the MA200 (4h)).
Tips:
1. The August fractal started to decline just after the RSI formed this pattern. I may have found the first support base on the 0.618 Fibonacci level but that happened to be on the MA200 (4h) as well and that is why we pursue this as target.
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USDCAD Bearish ScenarioToday, we will analyze USDCAD
Specific explanations are provided for each zone and movement on the chart. If you have any opinions, feel free to share them in the comments section.
Please note that this analysis is not intended as financial advice. Each individual should assume responsibility for their own trades. The purpose of this post is to provide ideas and inspiration, encouraging readers to view the chart from different perspectives. Always conduct your own research and analysis before making any trading decisions.
Buy USD/CAD Bullish Flag in H1The USD/CAD pair on the H1 timeframe presents a potential Buying opportunity due to a recent downward breakout from a well-defined Bullish Flag pattern. This suggests a shift in momentum towards the Upside in the coming Hours.
Key Points:
Buy Entry: Consider entering a Long position around the current price of 1.3825, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum.
Target Levels:
1st Support – 1.3860
2nd Support – 1.3875
Stop-Loss: To manage risk, place a stop-loss order below 1.3807. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards.
Your likes and comments are incredibly motivating and will encourage me to share more analysis with you.
Best Regards, KABHI FOREX TRADING
Thank you.
Possible Skyscraper on USDCADwe broke monthly resistance. If we can close above this level in the next 8 days, we are looking at around 1100 pip gain from the retest.
USDCADPair : USDCAD ( U.S Dollar / Canadian Dollar )
Description :
Completed " 12345 " Impulsive Waves
Fibonacci Level - 261.8%
RSI - Divergence
Bullish Channel as an Corrective Pattern in Short Time Frame
CHOCH
Sell USD/CAD BoC Interest RateThe USD/CAD pair on the H1 timeframe presents a potential selling opportunity due to channel. This suggests a shift in momentum towards the downside in the coming Hours.
Key Points:
Sell Entry: Consider entering a short position around the current price of 1.3818, This offers an entry point near the perceived shift in momentum.
Target Levels:
1st Support – 1.3778
2nd Support – 1.3750
Stop-Loss: To manage risk, place a stop-loss order above 1.3845. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards.
Your likes and comments are incredibly motivating and will encourage me to share more analysis with you.
Best Regards, KABHI FOREX TRADING
Thank you.
USDCAD | 22.10.2024SELL 1.38300 | STOP 1.38800 | TAKE 1.37800 | The USDCAD pair has been growing for the fourth week in a row and is now trading in the 1.38300 area, preparing to continue strengthening due to the growth of the American currency. Local correction.
Hugely Important Trading Plans | BOC Rate DecisionEver since the BOC has undertaken a quicker easing cycle (and signalled more of it) we have seen a lot of CAD shorts come into play.
Removing investment from CAD due to lower ROI is a direct cause of easing, and easing quickly.
Largely expected that another cut comes today at a 50 BPS consensus. It remains yet to be seen whether this cycle is too fast.
The FED has also undertaken a reasonable cutting pace, but latest data and rhetoric around it suggests a slower, more careful easing (hence the late rises in USD value, see DXY).
May be slight room to go higher, although USDCAD sits at key rejection areas, last hits going further into them.
Would not be surprised if this continues based on recent price action to the upside.
Awaiting rejection at these key levels before further entry short.
USDCAD back to the top of the rangeBOC Interest rate decision in about 4 and a half hours.
Market pricing in a cut of 50bp.
What if BOC cuts lower than 50bp? Will it cause an influx of funds back into CAD that is in a downtrend since early October?
USDCAD is knocking into a resistance that date back years.
Will it be a swing reversal trade or will USDCAD finally break through this resistance?
What do you think?
Check the trend After some fluctuation and correction, an uptrend is expected to form up to the indicated resistance levels. Then there will be a possibility of changing the trend. If the price crosses the 100% level, the downward trend is likely to continue
On nzdcadWe have analysis on New Zealand USD and seen it's no longer bullish after forming head and shoulders. What do you think
USDCAD - Short positionIn this moment after USD rally we are on top resistence area and sell for institutional.
I think there are possibilities for a short trade in this moment.
USD/CAD H4 | BoC rate cut to function as a bullish catalyst?USD/CAD is falling towards a pullback support and could potentially bounce off this level to climb higher.
Buy entry is at 1.3789 which is a pullback support that aligns with the 61.8% Fibonacci retracement level.
Stop loss is at 1.3735 which is a level that lies underneath a swing-low support and the 23.6% Fibonacci retracement level.
Take profit is at 1.3896 which is a level that aligns with the 161.8% Fibonacci extension level.
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Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd.
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USDCADWatch price action during LOndon sessions for bullish moves. Price recently tested a NYSE:HR PD array and reacted bullish from the array. Wait for lower tf comfirmation.
USD/CAD Down First then goes up, my target is above 1.3976Dailly MACD4C still high momentum (up trend), but 4HR MACD4C is recovery to zero line, price may back to tunnel , around 1.372 area. Then see the price action to move up above 1.3976 area. Possible? =P
Bearish drop?The Loonie (USD/CAD) has reacted off the pivot and could drop to the 1st support which has been identified as a pullback support.
Pivot: 1.3853
1st Support: 1.3751
1st Resistance: 1.3946
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USDCAD Daily Downside MoveI am trading the CD legs on two bullish harmonic patterns. The B extension of XA as shown gives me my downside target area.
USDCAD - Bear Reversal to 1.30 (800 pip move)If USDCAD (UCa) continues to reject 1.40, UCa could make a strong push to the downside towards 1.30 over the next 3-6 months.
There is an interest rate decision from the BoC tomorrow, 10/23/2024 and can be fuel for the currency in either direction.
With rising oil prices and an impending rate cut, the expectation is the market will begin to price in future growth for the pair.
USDCAD: Rejection expected on the 2 year Resistance Zone.USDCAD is bullish on the 1W timeframe (RSI = 60.180, MACD = 0.003, ADX = 23.071) and turned overbought on its 1D technical outlook (RSI = 69.243). This is taking place while the price is just underneath the 2 year R1 Zone, which has rejected the price 5 times already. The 1D RSI is also about to enter its R1 Zone. We expect another rejection towards the S1 level (TP = 1.34500).
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