USDCAD 1 HrVery boring to see range-bound usdcad. Let pick-up a little grain from the ground. But Pending order please.
USDCAD trade ideas
USDCAD D_TF Bearish Analysis 🌟 USDCAD Analysis 🌟
We've seen a strong uptrend in #usdcad for a while now, but what's next? 📈
✔️ Double high formation
✔️ A nice bearish engulfing pattern breaking out of the trend
I'm keeping an eye out for a retest on the trendline, and then it's time to buckle up for a bearish loooong ride! 🔥
Let's see how it plays out and if the bears can take control! 🐻
💭 Share your thoughts and ideas in the comments below! 💭
Next Stop 1.50Traders, what’s happening? This is a secondary BUY position I’m placing on USDCAD. I believe in this particular setup. The secondary breakout is another confirmation. Full description on the previous post, I will leave a link
UDSCAD ShortFollow-up on the Nov 30, 2024 idea
The USD/CAD pair appears to be overextended, signaling a potential trend reversal on the horizon. This setup is ideal for a swing trade, with a projected duration of a few weeks to a month. Strategic entry and exit points will be key to capturing this opportunity as the market adjusts.
USDCAD - ShortUSDCAD Analysis - SHORT 👆
In this Chart USDCAD DAILY Timeframe: By Nii_Billions.
❤️This Chart is for USDCAD market analysis.
❤️Entry, SL, and Target is based off our Strategy.
This chart analysis uses multiple timeframes to analyze the market and to help see the bigger picture on the charts.
The strategy uses technical and fundamental factors, and market sentiment to predict a BEARISH trend in USDCAD, with well-defined entry, stop loss, and take profit levels for risk management.
🟢This idea is purely for educational purposes.🟢
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USDCAD LONG conclusion;
weakly uptrend. weakly support reject
daily bullback
4hr fib golden zone reject .so entry
tp is 1 day support
OANDA:USDCAD
Bullish bounce off pullback support?The Loonie (USD/CAD) has reacted off the pivot and could rise to the 1st resistance which has been identified as a pullback resistance.
Pivot: 1.4364
1st Support: 1.4341
1st Resistance: 1.4427
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USDCAD: Confirmed Bearish Trap?! 🇺🇸🇨🇦
USDCAD formed a bearish trap with a false breakout of a key daily/intraday
horizontal support.
The trap was followed by a confirmed bullish imbalance and a breakout
of the upper boundary of a consolidation range on a 4H.
With a high probability, the price will rise and reach 1.444 level.
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USDCAD H1 I Bounce off 38.2%?Based on the H1 chart analysis, we can see that the price is approaching our buy entry at 1.4366, which is a pullback support that aligns with a 38.2% Fibo retracement.
Our take profit will be at 1.4395, a pullback resistance.
The stop loss will be placed at 1.4341, which is an overlap support level.
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USDCAD - Bearish Breakdown and Fibonacci Retracement After price failed to produce a new high above the 1.44675 level, it suggested a potential shift in momentum, with the bullish trend weakening. This was confirmed when price created a new swing low after breaking a significant structure level, indicating a bearish market shift. Following the bearish break of structure, price retraced to the 50% Fibonacci level, which is a key area to watch for resistance in the continuation of the downtrend.
My potential target is the demand zone that created the current swing highs, as this could act as support and lead to either a reversal or continued movement in the direction of the trend. I plan to enter short near the 50% Fibonacci level, provided there is bearish confirmation, such as rejection or a bearish candlestick pattern. My stop loss will be placed above the recent high at 1.44675 or slightly higher to manage risk.
The take profit target is set at the demand zone that created the swing highs, where I will closely monitor price action for any reversal signals. I will stay flexible and adjust the trade as needed if the price action indicates a change in momentum.
USDCAD Potential UpsidesHey Traders, in today's trading session we are monitoring USDCAD for a buying opportunity around 1.43700 zone, USDCAD is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 1.43700 support and resistance area.
Trade safe, joe.
US30 Reaching for support level 42200US30 continued to fall as expected and will likely continue to consolidate between this area for the week before deciding to go bullish or bearish.
USDCAD: Weak Market & Bearish Forecast
The charts are full of distraction, disturbance and are a graveyard of fear and greed which shall not cloud our judgement on the current state of affairs in the USDCAD pair price action which suggests a high likelihood of a coming move down.
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Monthly USDCADBreakout of Symmetrical triangle leading to development of a bullish triangle and ultimately to hit August 1998 highs around the end of 2015 or into 2016.
USDCAD TRADE SETUP UPDATEWe caught the bulls on the one, right again!
...and quite close before ADP NFP news today
USDCAD SELLPrice consolidated for a while, and sellers pushed down breaking the previous low. Price has gone up to retest the previous support, which is now acting as resistance. Price is expected to continue downwards to the zone around 1.4120 as sellers prepare to push price further south.
USDCAD to hit 1.50 mark?Canada's dollar is near its weakest in over four years, having fallen sharply after Trump in November threatened a 25% tariff on Canada and Mexico until they clamped down on drugs and migrants. A full-fledged trade war necessitating additional Canadian rate cuts could push the loonie to the 1.50 mark against the U.S. dollar, said ING's Pesole.
Trump and Trudeau Cause USD/CAD ReversalUSD/CAD broke lower on Monday, surprising traders who had been expecting a continuation of the uptrend. Political developments in both the US and Canada were the catalysts behind this sharp move, with the pair closing below a key consolidation range.
US Dollar Weakens on Trump Tariff News
The US dollar weakened after reports suggested that Donald Trump might scale back plans for sweeping tariffs on imports. Markets had initially priced in broad-based duties of 10% or more, but news of a narrower scope shifted sentiment. This sparked a relief rally in competing currencies, pulling the dollar index down by 0.7%.
Although Trump quickly dismissed the report as “fake news,” the damage to the greenback was already done, as traders reassessed the inflationary and economic implications of the potential policy shift.
Trudeau’s Resignation Lifts the Loonie
In Canada, Prime Minister Justin Trudeau’s announcement of his resignation marked the end of nearly a decade in office. His departure, driven by internal party pressures and declining public support, injected optimism into Canadian markets.
The Canadian dollar gained as traders welcomed the potential for political renewal ahead of elections later this year, with hopes for more stable governance and economic policies boosting confidence in the currency.
Technical Breakdown for USD/CAD
USD/CAD had been in a strong uptrend since mid-September, with the 50-day moving average diverging above the 200-day moving average. Over the holiday period, the pair entered a tight sideways consolidation range, a pattern often seen as a continuation signal during a bullish trend.
However, Monday's political developments caused a break below the consolidation range, with the pair closing below key support levels. This move sets up the potential for a deeper retracement, with the 50-day moving average as the next critical level to watch.
USD/CAD Daily Candle Chart
Past performance is not a reliable indicator of future results
Zooming in on the hourly chart reveals that USD/CAD has begun forming a series of lower swing highs, creating a descending trendline. This trendline serves as a key indicator for traders navigating the potential reversal.
While the long-term uptrend remains intact, traders should be cautious of a possible fakeout. A decisive break back above the descending trendline and into the previous range could signal short sellers to cover their positions, negating the bearish setup.
USD/CAD Hourly Candle Chart
Past performance is not a reliable indicator of future results
Disclaimer: This is for information and learning purposes only. The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance. Social media channels are not relevant for UK residents.
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correctionIt is expected that after some fluctuation and correction in the current support level, a trend change will occur and we will witness the beginning of an upward trend.
If the price crosses the red support level, the continuation of the downward trend will be likely
USD/CAD Daily AnalysisPrice has been moving within a daily range since December last year.
Mondays price action saw what could have been a break out of support at around the 1.4340 zone.
With Tuesdays close back above and within the range, Mondays candle was probably a break out.
Look for opportunities to buy, targeting back at the top of the range.
