🔔🔔🔔USD/CAD news:
➡️ The USD/CAD pair reached a two-and-a-half-week high on Tuesday, though it struggled to gain acceptance or extend its intraday advance beyond the 1.4400 mark. Nevertheless, spot prices held onto their recent recovery gains as traders awaited U.S. President Donald Trump’s announcement on reciprocal tariffs before making fresh directional bets.
➡️ Meanwhile, the U.S. dollar’s modest strength provided support for the USD/CAD pair. In contrast, the Canadian dollar (CAD) weakened amid escalating risks of a U.S.-Canada trade war. Additionally, domestic political uncertainty ahead of the snap election on April 28 was seen as putting pressure on the CAD, further bolstering the currency pair.
Personal opinion:
➡️ The CAD is increasingly likely to be volatile, so the USD/CAD uptrend is likely to continue in the near term.
➡️ However, the pair’s RSI is diverging, so it will decline in the short term. In addition, the sellers are waiting for the US tariff policy, so they will pause to evaluate the data. so this could be the time to buy USD/CAD at a good price.
➡️ Analyze based on resistance - support levels combined with pivot points and EMA to come up with a suitable strategy
Plan:
🔆Price Zone Setup:
👉Buy USD/CAD 1.4370 – 1.4360
❌SL: 1.4330 | ✅TP: 1.4400 – 1.4440
FM wishes you a successful trading day 💰💰💰
➡️ The USD/CAD pair reached a two-and-a-half-week high on Tuesday, though it struggled to gain acceptance or extend its intraday advance beyond the 1.4400 mark. Nevertheless, spot prices held onto their recent recovery gains as traders awaited U.S. President Donald Trump’s announcement on reciprocal tariffs before making fresh directional bets.
➡️ Meanwhile, the U.S. dollar’s modest strength provided support for the USD/CAD pair. In contrast, the Canadian dollar (CAD) weakened amid escalating risks of a U.S.-Canada trade war. Additionally, domestic political uncertainty ahead of the snap election on April 28 was seen as putting pressure on the CAD, further bolstering the currency pair.
Personal opinion:
➡️ The CAD is increasingly likely to be volatile, so the USD/CAD uptrend is likely to continue in the near term.
➡️ However, the pair’s RSI is diverging, so it will decline in the short term. In addition, the sellers are waiting for the US tariff policy, so they will pause to evaluate the data. so this could be the time to buy USD/CAD at a good price.
➡️ Analyze based on resistance - support levels combined with pivot points and EMA to come up with a suitable strategy
Plan:
🔆Price Zone Setup:
👉Buy USD/CAD 1.4370 – 1.4360
❌SL: 1.4330 | ✅TP: 1.4400 – 1.4440
FM wishes you a successful trading day 💰💰💰
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✅ t.me/+Y9T5_BwC7_JhMWM1
Join now !!!!
Channel: signals - knowledge and FOREX comments
Join now !!!!
Channel: signals - knowledge and FOREX comments
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.