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U.S. Dollar / Canadian Dollar

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USDCAD trade ideas

USD/CAD🇺🇸🇨🇦 Support and Resistance Levels: - *Support Level:* Approximately 1.42611, as it was a recent low point and seems to be holding during pullbacks. - ⁠ - *Resistance Level:* Around 1.47937, indicated by the peak where the price reversed before the drop. These levels are important as they provide thresholds where price actions may reverse. If the price approaches the support level, it may bounce back, and if it tests the resistance level, it may face selling pressure. Gradual Buy and Sell Points: - *Buy Level:* Near the support level of 1.42611 can be a strategic point for long-term investors, as buying here might capitalize on a potential bounce back. - *Sell Level:* Close to the resistance around 1.47937, as prices tend to struggle to break significantly above this point. The strategy could involve accumulating positions as prices near support and placing sell orders around resistance. margin trading: - *Position:* A long position could be taken if the price approaches the support level and holds - *Entry Point:* Around 1.42611. - *Take Profit Level:* Target around 1.46000 to 1.47000, slightly below the identified resistance - *Stop-loss Level:* Set below support at 1.42500 to minimize losses if the support level fails. *Risk/Reward Ratio:* With a potential gain of approximately 300-400 pips and a risk of around 100-150 pips, the risk-reward ratio would be favorable, at least 2:1. Indicator Analysis: The chart shows some indicators, likely Bollinger Bands and moving averages: - *Bollinger Bands:* Prices are near the lower band, indicating potential for a rebound. The current squeeze suggests low volatility, which could precede a breakout. - ⁠ - *Moving Averages:* If there's a crossover (which isn't visible here), it could signal a shift in momentum.
by Nextgen_Financial_Solutions
USDCAD MARKET OUTLOOK Here’s USDCAD market outlook after two major economic report from Canada and US were released. On Friday, we had unemployment rate report from Canada which came out better than expected (indicating a stronger CAD). In the other hand, NON-FARM PAYROLL data was also released which came out worse than expected with their Unemployment rate at 4%. Fundamentally, we’re looking forward to seeing a weaker USD and stronger CAD which will be a sell. From the technical standpoint , price traded and closed at 1.42932 (a breakout level) We have a resistance at 1.45051 Our next support price is at 1.41032
Short
by Cartela
USDCADUSD/CAD represents the exchange rate between the US Dollar (USD) and the Canadian Dollar (CAD), often referred to as the “Loonie” due to the loon bird featured on Canada’s one-dollar coin. This pair is heavily influenced by commodity prices, particularly crude oil, as Canada is a major oil exporter. When oil prices rise, the Canadian dollar typically strengthens, pushing USD/CAD lower, and vice versa. Other key factors affecting the pair include interest rate differentials between the Federal Reserve and the Bank of Canada, economic data from both countries, and overall risk sentiment in the global markets. The pair is known for its sensitivity to both energy markets and monetary policy shifts.
Long
by HavalMamar
USDCAD - Is History Repeating Itself?Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📈 USDCAD has been overall bullish , trading within the rising wedge pattern marked in blue. Today, USDCAD broke above its previous major high (marked in red). 🏹 As it retests this previous high, it will also intersect with the lower blue trendline, which acts as a dynamic support level. 📚 According to my trading style: As #USDCAD approaches the red zone, I'll be watching for bullish reversal setups—such as a double bottom pattern, a trendline break, and more. 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
Long
by TheSignalyst
8
USDCAD - Weekly forecast, Technical Analysis & Trading IdeasMidterm forecast: 1.39318 is a major support, while this level is not broken, the Midterm wave will be uptrend. Technical analysis: While the RSI support #1 at 47 is not broken, the probability of price decrease would be too low. A trough is formed in daily chart at 1.34185 on 09/25/2024, so more gains to resistance(s) 1.44670, 1.46000, 1.46900 and more heights is expected. Supports and Resistances: 1.46900 1.46000 1.38884 1.38168 1.37487 1.36876 1.36072 1.35404 1.34323 1.33664 1.31816 1.30929 __________________________________________ ❤️ If you find this helpful and want more FREE forecasts in TradingView, . . . . . Please show your support back, . . . . . . . . Hit the 👍 BOOST button, . . . . . . . . . . . Drop some feedback below in the comment! 🙏 Your Support is appreciated! Let us know how you see this opportunity and forecast. Have a successful week, ForecastCity Support Team
Long
by ForecastCity
21
NFP-How NFP Will Play Out Today?The U.S. Bureau of Labor Statistics released the January 2025 Non-Farm Payrolls (NFP) report today, February 7, 2025, at 8:30 a.m. Eastern Time. The report indicates that the U.S. economy added 170,000 jobs in January, with the unemployment rate holding steady at 4.1%. This reflects a moderation in job growth compared to December's addition of 256,000 jobs. REUTERS.COM Analysts attribute the slowdown in job growth to disruptions caused by wildfires in California and cold weather conditions, which are estimated to have reduced job numbers by approximately 40,000, particularly in sectors like accommodation, food services, and construction. REUTERS.COM Additionally, this month's report includes significant annual benchmark revisions, incorporating updated population weights and seasonal adjustment models. These revisions have led to a downward adjustment of previous employment estimates, indicating that fewer jobs were created in 2024 than initially reported. BUSINESSINSIDER.COM Financial markets have shown minimal movement in response to the report, as the figures align closely with economists' expectations. Futures linked to Wall Street's main indexes remained steady, with investors having anticipated a slowdown in job growth due to the aforementioned disruptions. REUTERS.COM In summary, while the January 2025 NFP report indicates a deceleration in job growth, the labor market remains resilient. However, potential challenges such as federal hiring freezes and trade tensions could impact future employment trends. APNEWS.COM
Long
by jshafx
USDCAD at a crucial support.USDCAD - Intraday The selloff has posted an exhaustion count on the intraday chart. We expect a reversal in this move. Risk/Reward would be poor to call a buy from current levels. A move through 1.4350 will confirm the bullish momentum. The measured move target is 1.4425. We look to Buy at 1.4300 (stop at 1.4260) Our profit targets will be 1.4400 and 1.4425 Resistance: 1.4350 / 1.4400 / 1.4425 Support: 1.4300 / 1.4275 / 1.4250 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distribut
Long
by OANDA
USDCAD Is Bearish! Sell! Here is our detailed technical review for USDCAD. Time Frame: 12h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The price is testing a key resistance 1.431. Taking into consideration the current market trend & overbought RSI, chances will be high to see a bearish movement to the downside at least to 1.413 level. P.S Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback. Like and subscribe and comment my ideas if you enjoy them!
Short
by SignalProvider
1
USDCAD: Tariffs delayedThe elephant in the room The focal point of late has undoubtedly been US President Trump’s proposed tariffs on Canadian goods shipped to the US. A 25% universal tariff rate would be troublesome for the Canadian economy—despite the exemption for energy products. But it would also have a notable stagflationary effect on the US—making it an expensive strategy for Trump. Further, Canada laid out its retaliation strategy which is designed to respond in kind. We still think the tariffs will not be implemented in that form and “deal making” will remain key in the Trump administration’s strategy. Canada not in a good place to begin with Canada remains in a weak negotiation spot politically without a functioning government in place and new elections likely later in 2Q. Moreover, the economy is hurting given its high interest-rate sensitivity and elevated Bank of Canada (BoC) policy rates for some time. Accordingly, the BoC struck a cautious tone in their policy meeting last week and noted their readiness to react to any economic shock in relation to US tariffs. This would be much needed given fiscal stimulus is unlikely to come to the rescue given Parliament remains prorogued until March. USDCAD to retest 1.46 highs—even without tariffs The market reaction to Trump’s proposed tariffs was rather benign and was completely reversed following the delay in implementation. From here, we do not see much of a risk premium priced into USDCAD and, rather, the pair trades below what rates differentials suggest. While we do not expect the tariffs to be implemented in the aforementioned form, a risk of some adverse trade action remains. We think USDCAD can test 1.46 again in the coming months before edging lower later in the year. Broader USD strength might also be enough to get there—even in the absence of tariffs on Canada.
Long
by AccuTrade2000