USDCAD POSSIBLE BUY OPPORTUNITY Price looking promising for a buy as it falls back to a trend line supporting price so far this month. A buy opportunity is envisaged upon bouncing off the trend line. We keep a close watch to see how price reacts around that area.Longby Cartela228
USDCAD CLOSE DOOR ANALYSISTrade smart and Simple.Don't struggle for a Simple Profit..01:16by FOREX_GURUSS111
USDCAD beautiful head and shoulderUSDCAD beautiful head and shoulders creating , i think after the retest it will be okay to take a short possition risking 1-2% of the capitalShortby panajot0
Bullish bounce?USD/CAD is falling towards the support level which is a pullback support that is slightly above the 78.6% Fibonacci projection and could bounce from this level to our take profit. Entry: 1.4299 Why we like it: There is a pullback support level that is slightly above the 78.6% Fibonacci projection. Stop loss: 1.4222 Why we like it: There is a pullback support level. Take profit: 1.4416 Why we like it: There is a pullback resistance level. Enjoying your TradingView experience? Review us! Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). 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 Everest Fortune Group.Longby VantageMarkets4
USDCAD downfall?USDCAD facing strong bearish resistance around price 1.4500. With multiple rejections already and the break of this 4hr trendline. We can capitalize on a potential 150+ pips to the downside. Trade cautiously!! by e_dollazz2
USDCAD INTRADAY bullish sideways consolidationThe USD/CAD currency pair price action sentiment remains bullish, supported by the prevailing long-term uptrend. Recent intraday movements indicate a bullish breakout above the previous resistance level, which has now established itself as a new support zone. Key Levels and Price Action The primary trading level to watch is 1.4390, representing the previous consolidation range. A corrective pullback to this level, followed by a bullish rebound, could signal continued upward momentum. In this scenario, the pair may aim for upside resistance levels at 1.4487, 1.4530, and 1.4590 over the longer timeframe. However, if the 1.4390 support level fails to hold and there is a confirmed daily close below it, the bullish outlook would be invalidated. This breakdown could lead to a deeper retracement, targeting the 1.4350 support level, followed by 1.4310 and 1.4230. Conclusion The sentiment remains bullish as long as the 1.4390 support level holds, with potential upside targets at 1.4487, 1.4530, and 1.4590. A confirmed breakdown below 1.4390 would shift the outlook to bearish, signaling a potential move toward 1.4350, 1.4310, and 1.4230. Traders should closely monitor daily closing levels around the key support to gauge sentiment shifts and make informed trading decisions. 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 TradeNation1
Sell Limit USDCADwe've seen the CPI spike just recently let's attempt one last trade for the day and see if we can bag these sells my tp is usually 1/2RR bt if you'd like if activated you can hold to tp if loss is not hitShortby Mageba_THEE-FOREX-SAVIOUR0
USDCAD | 1H | SELL NOW Hey there my friend 🫡 SIGNAL ALERT SELL USDCAD / 1,44588 > 1,44871 🟢TP1: 1,44369 🟢TP2: 1,43955 🟢TP3: 1,43159 🔴SL: 1,45310 RISK REWARD - 2,00 please don't forget to like 🙏🏻 Thanks to everyone who supports my analysis with likes. 💙💙💙 Shortby TraderTilkiUpdated 4412
Bank of Canada Expected to Reduce RatesSeveral desks forecast that the Bank of Canada (BoC) will reduce the overnight rate by another 25 basis points (bps) to 2.75% (from 3.00%) today at 1:45 pm GMT. Since June (2024), the central bank has lowered rates by 200 bps over six consecutive meetings, bringing the overnight rate closer to the mid-point of the BoC’s neutral range of 3.25% - 2.25%. The swaps market is pricing in a 94% chance that the BoC will opt for another 25 bp cut today. Eleven out of twelve economists polled by the Wall Street Journal also forecast a 25 bp reduction, in line with current market pricing. Additionally, some desks are airing the possibility of a 50 bp decrease. However, I doubt this will be the case; cutting the overnight rate to such an extent at this juncture might indicate serious concerns in the Canadian economy, and I do not think the BoC will want to alarm the markets. BoC Rate Cut; US Tariffs on the Front Line Let’s be frank, the BoC has a challenging task ahead. At a time when the Canadian economy shows signs of persistent inflation – the central bank’s preferred measures of inflation have been hovering around the upper boundary of its 1%-3% inflation target band – and reasonably robust GDP growth (Gross Domestic Product), running at an annualised rate of 2.6% in Q4 24, the central bank will likely cut rates again today. You may also recall that before Friday’s jobs numbers, rate pricing was roughly 50/50 for most of February (and early March) regarding whether the BoC would hold or cut. As mentioned above, money markets are now nearly fully pricing in another 25 bp cut. According to Statistics Canada, job growth was minimal in February, adding a mere 1,100 jobs; this was significantly lower than economists’ forecasts and followed three consecutive months of strong hiring. Despite this, the unemployment rate remained unchanged at 6.6%, defying analysts’ estimates of a 6.7% increase. Unquestionably, the BoC’s primary focus is on US tariffs, with some economists cautioning that a recession could be around the corner in the event of a prolonged trade war. The most recent technical recession in Canada, brought about by the COVID-19 pandemic, was seen in 2020. BoC Governor Tiff Macklem stated that prolonged and widespread US tariffs could significantly hinder the Canadian economy’s recovery. This week's latest developments saw US President Donald Trump dial back on his 50% tariff threats on Canadian aluminium and steel, retreating to his originally planned 25% tariffs; Trump also recently downplayed the possibility of a US recession. What Does this Mean for the Canadian Dollar? Versus the US dollar (USD), the Canadian dollar (CAD) remains on the ropes, with the USD/CAD currency pair refreshing multi-decade highs of C$1.4793 in February. Technically, following a test of monthly resistance-turned-support at C$1.4193 last month, buyers and sellers are now contained between said support and overhead monthly resistance at C$1.4533. Overall, though, the long-term trend still favours buyers, so a breakout higher would not come as a surprise, potentially paving the way for a run to another layer of monthly resistance at C$1.4925. Meanwhile, on the daily chart, the pair rebounded from support at C$1.4262, with scope to run to resistance from C$1.4595. Consequently, while the trend leans in favour of buyers now, monthly and daily resistance between C$1.4533 and C$1.4595 could be problematic. This area will likely need to be absorbed before further upside is seen towards C$1.4793, closely shadowed by monthly resistance at C$1.4925. Should the BoC cut the overnight rate by 25 bps, maintain cautious forward guidance, and not pre-commit to additional policy easing, I see limited volatility drawn from this risk event. However, if the central bank held the rate at 3.00% and underscored a strong economy, this could send the CAD higher (USD/CAD lower). If the BoC opts for a bulkier 50 bps cut and signals further easing, this would likely open the door to a shorting opportunity in the CAD (USD/CAD higher). Written by FP Markets Market Analyst Aaron Hill by FPMarkets3
USDCAD-SELL strategy 6 hourly RENKO chartThe pair is correcting downwards, and I feel we have good chance to see 1.4300 tested. MACD and SMI both are negative. Strategy SELL @ 1.4410-1.4450 and take profit near 1.4317 for now. Shortby peterbokma1
USDCAD - UniverseMetta - Signal#USDCAD - UniverseMetta - Signal H4 - Formation of the 3rd wave from the level + retest. Stop for the maximum of the 1st wave. Entry: 1.44145 TP: 1.42619 - 1.40674 - 1.39061 - 1.37509 Stop: 1.45514Shortby Trade-U-Metta2
Why are you hesitating? Sell USDCADThis will be a big move. CADCHF has begun its movement up. Dont miss this tradeShortby UGBOR4
USDCAD Bigger Corrective MoveTrade responsible,The analysis is invalid when price Break price at 1.45202 ENJOY!!!by FOREX_GURUSS0
Canadian dollar calm ahead of BoC, US inflationThe Canadian dollar posted gains earlier but couldn't consolidate. In the European session, USD/CAD is trading at 1.4439, up 0.03% on the day. It's decision day at the Bank of Canada, which is widely expected to lower rates by 25 basis points. This would lower the cash rate to 2.75%, its lowest level since July 2022. The BoC has been aggressive and has lowered rates at five straight meetings, chopping 200 basis points during that time. The economy remains weak despite the sharp drop in interest rates and the central bank plans to continue lowering rates in order to boost economic growth. The BoC finds itself in a difficult position as far as rate policy. The labor market is showing weakness, with almost no job growth in February, while at the same time inflation remains sticky, above the BoC's 2% target. Throw into the mix the Trump administration's tariffs on Canada, and the situation has become fluid. The specter of a long trade war between Canada and the US would be disastrous for Canada and has complicated matters for the BoC. In the US, inflation has been contained but remains above the Federal Reserve's target of 2%. Headline CPI for February is expected to ease to 0.3% m/m, down from 0.5% in January, and down to 2.9% y/y from 3.0%. The core rate is projected to drop to 0.3% m/m from 0.4% and to 3.2% from 3.3%. If the CPI estimates prove to be on target, it would point to little movement in inflation and investors may feel relieved that Trump's tariffs policies have not yet raised inflation. The Federal Reserve is widely expected to hold rates at next week's meeting but it's unclear what happens after that, with the chances of a May cut at around 50/50. USD/CAD is testing resistance at 1.4445. Above, there is resistance at 1.4511 1.4370 and 1.4304 are the next support levelsby OANDA2
USDCAD could be about to deliver a 330 pips moveUSDCAD is forming an ascending triangle pattern, suggesting a potential breakout if it surpasses 1.4546, with an upside target of around 322 pips. Economic factors include U.S. tariffs on Canadian goods, a Canadian boycott of U.S. products, and slowing economic data in both countries, which could pressure the CAD as an export-driven currency. This content is not directed to residents of the EU or UK. Any opinions, news, research, analyses, prices or other information contained on this website is provided as general market commentary and does not constitute investment advice. ThinkMarkets will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information02:13by ThinkMarkets9
check the trendGiven the price behavior within the current resistance range, it is expected that a trend change will take place and we will witness the start of a downward trend.by STPFOREX115
USD/CAD Trend in US Session Today🔔🔔🔔 USD/CAD news: 👉DXY is currently at 103.4, its lowest since November 5, 2024. A break of this level could see DXY fall further. The pair has been losing ground as the US dollar struggles amid concerns that tariff uncertainty could push the US economy into recession. 👉The RSI (1H) is currently entering extreme overbought territory and shows no signs of stopping. 👉The US 10-year bond yield is also down 0.21%, further weighing on the US dollar. 👉On the other hand, CIBC analysts expect the Canadian central bank to cut 25 bps on Wednesday, lowering its benchmark rate to 2.75%, with more cuts to follow this year if trade uncertainty persists. The rising bets of further BoC rate reductions could undermine the CAD and help limit the pair’s losses. Personal opinion: 👉DXY's RSI (1H) enters the overbought zone, so watch this area closely. Moreover, 103.3 is a strong support zone, so there may be signs of a reversal in the short term Analysis: 👉Based on important resistance - support levels and Fibonacci combined with trend lines to come up with a suitable strategy Plan: 🔆 Price Zone Setup: 👉Buy USD/CAD 1.4410 - 1.4400 ❌SL: 1.4370 | ✅TP: 1.4450 - 1.4490 - 1.4550 FM wishes you a successful trading day 💰💰💰Longby FM-ForexMastermindUpdated 112
USDCAD SHORTLongterm oportunity to short USDCAD. We are in bigger consolidation that we can see on Monthly chart. On weekly we touch upper area of consolidation and now we brake UP trend and currently we are in retracement. Try to look for enteries for short. SL: above highest point TP: above lower band of consolidation (dont be too greedy) Shortby MKtrejdingUpdated 5
Different Shades of DisciplineIn my decade of trading experience I've come to realize through huge number of trials and errors that discipline in trading is a rather unique and not always universal beast. While there are definitely broad categories of discipline trading like taking high-quality setups, correctly managing risk, taking profits, and so on; There are also many unique underlying reasons and mind-tangled cognitive dissonances that can become the cause of these lapses. What I understood in my experience is that discipline seems to be transferrable from 1 area to another. Addicted to smoking? Perhaps, quitting can be beneficial to one's trading. However, not necessarily as some traders smoke (and can't quit that habit) for a different underlying reason and thus quitting for them might NOT be as beneficial for the former one. The devil seems to be in the details. Why one smokes? Is it a coping mechanism for stress, or is it a little ritual that one employs to consciously recalibrate themselves? The key seems to be in action and number of trials and experiments. Attempting to try the routine of other people might not yield the best results for the expended effort. One person may run for many miles and enjoy that time, for another it will be excruciating agony to do that. The discipline required in that example would obviously be vastly different, and thus the effect that action produces also - different. At the end of the day - the most important thing in trading is consistency, but coupled with PERSONAL unique discipline is something that gives us edge in the markets.Educationby Lightwork_1
USD/CADBuy side Liquidity has been swept. Rejection off previous Supply zone has been made Order Block has been created and we are looking for a retracement into the Liquidity Trend taking sell side Liquidity Good luck to all the traders that will followShortby jamesibartram4
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: 1.4430 Why we like it: There is a pullback resistance. Stop loss: 1.4539 Why we like it: There is a pullback resistance level. Take profit: 1.4382 Why we like it: There is an overlap support level that aligns with the 78.6% Fibonacci projection. Enjoying your TradingView experience? Review us! Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). 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 Everest Fortune Group.Shortby VantageMarkets7
International politics is now a high school dramaSo, Trump was all like, “Let’s slap an extra 25% tariff on Canadian steel and aluminum,” which meant total duties shot up to 50%. Why? Because Ontario put a 25% tax on electricity exports to the U.S. And Doug Ford? He was not having it—saying he’d “respond appropriately” and “not back down.” But —he totally backed down and scrapped the tax on electricity exports to Michigan, New York, and Minnesota. And now, Trump just ditched the extra 25% tariff, and boom— USDCAD broke below the recent low of 1.43986by BlackBull_Markets5
USDCAD - Correction and then move towards 1.44999Given the flow of bearish orders on the higher timeframes (weekly and daily, four-hour), I think the price could move towards 1.44999 after a minor correction and liquidity clearing. This move is just a pullback on the higher timeframes, and with this move, the price is trying to reach the fifty percent level of the structure on the higher timeframe. Longby alixjeyUpdated 4