🔔🔔🔔 USD/CAD news:
➡️ The USD/CAD pair extended its rally for the third consecutive day on Monday, climbing toward 1.4360 as investors anticipate the impact of reciprocal tariffs imposed by U.S. President Donald Trump on Canada, set to take effect on Wednesday, also known as "Liberation Day."
➡️ Last week, President Trump indicated that Canada would face tariffs, but both he and Prime Minister Carney expressed optimism regarding their weekend trade discussions. Reports suggest that Carney has reassured provincial leaders that the tariffs imposed on Canada might be lower than initially feared and may not be applied broadly across the entire economy.
➡️ For now, the Canadian dollar is in a waiting game ahead of Wednesday's announcement, followed by potential negotiations to mitigate or avoid the tariffs altogether.
Personal opinion:
➡️ Before Wednesday this week, negative sentiment will weigh on CAD. Until there is information about tariff easing or the two sides have a separate agreement, then the situation will be reviewed. In short, USD/CAD is still supported by Trump's tariff news in the short term
➡️ Currently, the bRSI of this pair is in the overbought zone, so there will be a technical pullback. So consider strong support levels to be able to buy at a good price
➡️ Analyze based on important resistance - support levels and Fibonacci combined with SMA to come up with a suitable strategy
Plan:
🔆Price Zone Setup:
👉 Buy USD/CAD 1.4335– 1.4345
❌SL: 1.4300 | ✅TP: 1.4380 – 1.4430
FM wishes you a successful trading day 💰💰💰
➡️ The USD/CAD pair extended its rally for the third consecutive day on Monday, climbing toward 1.4360 as investors anticipate the impact of reciprocal tariffs imposed by U.S. President Donald Trump on Canada, set to take effect on Wednesday, also known as "Liberation Day."
➡️ Last week, President Trump indicated that Canada would face tariffs, but both he and Prime Minister Carney expressed optimism regarding their weekend trade discussions. Reports suggest that Carney has reassured provincial leaders that the tariffs imposed on Canada might be lower than initially feared and may not be applied broadly across the entire economy.
➡️ For now, the Canadian dollar is in a waiting game ahead of Wednesday's announcement, followed by potential negotiations to mitigate or avoid the tariffs altogether.
Personal opinion:
➡️ Before Wednesday this week, negative sentiment will weigh on CAD. Until there is information about tariff easing or the two sides have a separate agreement, then the situation will be reviewed. In short, USD/CAD is still supported by Trump's tariff news in the short term
➡️ Currently, the bRSI of this pair is in the overbought zone, so there will be a technical pullback. So consider strong support levels to be able to buy at a good price
➡️ Analyze based on important resistance - support levels and Fibonacci combined with SMA to come up with a suitable strategy
Plan:
🔆Price Zone Setup:
👉 Buy USD/CAD 1.4335– 1.4345
❌SL: 1.4300 | ✅TP: 1.4380 – 1.4430
FM wishes you a successful trading day 💰💰💰
Trade active
Rain force is too strong and has increased to the original targetCancel Buy plan
Order cancelled
Break and break down to 1.4310 area
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✅ t.me/+Y9T5_BwC7_JhMWM1
Join now !!!!
Channel: signals - knowledge and FOREX comments
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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.