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CAD

Falling towards 50% Fibo support, could it bounce from here?USD/CAD is falling towards a support level which is a pullback support that aligns with the 50% Fibonacci retracement and could bounce from this level to our take profit Entry: 1.37268 Why we like it: There is a pullback support level which aligns with the 50% Fibonacci retracement Stop loss: 1.36618 Why we like it: There is a pullback support level which aligns with the 50% Fibonacci retracement Take profit: 1.37823 Why we like it: There is a pullback resistance level 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.
Long
by VantageMarkets
Sell EURCAD ECB Interest RateThe EUR/CAD pair on the M30 timeframe presents a potential selling opportunity due to the presence of a well-defined bearish channel pattern. This pattern suggests ongoing selling pressure and a higher likelihood of further declines in the coming minutes or hours. Key Points: Sell Entry: Consider entering a short position (selling) below the broken support level of the channel, ideally around 1.4700. This offers an entry point close to the perceived shift in momentum. Target Levels: Initial bearish targets lie at the previous support levels within the channel, now acting as potential resistance zones: 1.4656: This represents the first level of support within the channel. 1.4628: This is a further extension of the downside target, based on the height of the recent price movement before the breakout. Stop-Loss: To manage risk, place a stop-loss order above the broken support line of the channel, ideally around 1.4720. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards. Thank you
Short
by KABHI_TA_TRADING
3
EURCAD: Quick short opportunity + bonus for long term.EURCAD marginally turned bearish on its 1D technical outlook (RSI = 44.842, MACD = 0.001, ADX = 27.243) as it hit both the 1D MA50 and 1D MA200 today. That is dead neutral on a 15 month basis as the pair has been on a wide ranged price action since the start of 2023. Currently it sits exactly at the middle of this pattern on the 0.5 Fibonacci level. This gives us the opportunity for a quick short term sell on the HL trendline (TP = 1.45750). The HL trendline has always been crossed downwards these 1.5 years so if we see a crossing under the 0.618 Fibonacci, we will sell again and target the 0.786 Fib (TP = 1.43650). See how our prior idea has worked out: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Short
by InvestingScope
Buy GBPCAD Channel BreakoutThe GBP/CAD pair on the M30 timeframe presents a potentially interesting situation with a bullish channel breakout pattern. Potential Long Trade : Entry: Above the broken resistance line of the channel, ideally around 1.7175 after confirmation. Target Levels: 1.7244: This represents the height of the channel, measured from the apex (highest point) to the base (opposite trendline), projected upwards from the breakout point. 1.7272: This is a further extension of the upside target, based on the height of the recent price movement. Stop-Loss: Place a stop-loss order below the broken resistance line of the channel, ideally around 1.7145. This helps limit potential losses if the price fails to break out and reverses downwards. Thank you
Long
by KABHI_TA_TRADING
2
Could USD/CAD bounce from here?The price is falling toward a support level, which is a pullback support that aligns with the 61.8% Fibonacci retracement and could bounce from this level to our take profit. Entry: 1.36138 Why we like it: There is a pullback support level Stop loss: 1.35554 Why we like it: There is a pullback support level Take profit: 1.37245 Why we like it: There is a pullback resistance level 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.
Long
by VantageMarkets
Potential bearish dropEUR/CAD is currently on a resistance level which is a pullback resistance level and could reverse from this level to our take profit Entry: 1.47378 Why we like it: There is a pullback resistance level Stop loss: 1.47789 Why we like it: There is a pullback resistance level Take profit: 1.46630 Why we like it: There is an overlap support level which aligns with the 50% Fibonacci retracement 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.
Short
by VantageMarkets
1
USDCAD - Already Over-Bought! Again...Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📈 USDCAD has been overall bullish , trading within the rising flat channel in blue. However , USDCAD is approaching the upper bound of the channel again acting as a non-horizontal resistance. Moreover, it is retesting a strong resistance zone at 1.362 - 1.365 marked in green. 🏹 Thus, the highlighted blue circle is a strong area to look for sell setups as it is the intersection of the green resistance and upper blue trendline. 📚 As per my trading style: As #USDCAD is around the blue circle zone, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...) 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
2
USDCAD: Thoughts and AnalysisToday's focus: USDCAD Pattern – Heavy Resistance Support – 1.3514, 1.3454 Resistance – 1.3602 Hi, traders; thanks for tuning in for today's update. Today, we are looking at USDCAD daily. What are we discussing and asking today after looking at USDCAD? Will current heavy resistance contnue to block buyers? Does price have enough momentum in its current bull channel? Will this week's data and news be enough of an influence to set off a new break lower or higher? Key news, US CPI, PPI, Fed meeting minutes. Canadian interest rate decision. Good trading.
by Eightcap
Unlocking the Correlation: NZDCAD's Dance with StocksTraders, In today's trading session, our attention is directed towards NZDCAD, where we're eyeing a potential selling opportunity around the 0.82700 zone. As NZDCAD charts a downtrend, it's currently amidst a correction phase, edging closer to the crucial support and resistance area at 0.82700. Adding depth to our analysis, it's essential to consider the fundamental landscape. The current bearish sentiment prevailing in stocks and indices casts a shadow over NZDCAD, primarily due to their positive correlation. When stocks and indices decline, the New Zealand dollar (NZD) tends to weaken against the Canadian dollar (CAD), reflecting the risk-off sentiment that accompanies declines in equity markets. This positive correlation between NZDCAD and stocks can be attributed to several factors: 1-Risk Appetite: The New Zealand dollar is often viewed as a risk-sensitive currency, meaning it tends to strengthen during periods of risk appetite and weaken during risk aversion. In contrast, the Canadian dollar is often considered a commodity currency, influenced by factors such as oil prices and global economic growth prospects. 2-Commodity Prices: Both New Zealand and Canada are significant exporters of commodities, and their respective currencies can be sensitive to changes in commodity prices. A decline in global commodity prices, driven by concerns about economic growth or demand, can weigh on both the NZD and CAD, contributing to their correlation. 3-Global Economic Outlook: Changes in the global economic outlook can impact both stocks and currencies. In times of economic uncertainty or slowdown, investors may seek safer assets, leading to declines in both stocks and risk-sensitive currencies like the NZD. Therefore, with stocks and indices exhibiting a bearish bias, NZDCAD faces increased pressure, aligning with its positive correlation with equities. This correlation underscores the interconnectedness of different asset classes and the importance of considering broader market trends when analyzing currency pairs. Trade wisely, Joe
Short
by JoeChampion
1
GBP/CAD potential bearish dropThe price is rising towards a pullback resistance level, which aligns with the 61.8% Fibonacci retracement level. It could reverse from this point towards our take profit target Entry: 1.71859 Why we like it: There is a pullback resistance level which aligns with the 61.8% Fibonacci retracement Stop loss: 1.72912 Why we like it: There is an overlap resistance level Take profit: 1.70838 Why we like it: There is an overlap support level which aligns with the 61.8% Fibonacci retracement 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.
Short
by VantageMarkets
1
Potential bearish dropEUR/CAD is currently on a resistance level and could reverse from this level to our take profit Entry: 1.47378 Why we like it: There is a pullback resistance level Stop loss: 1.47789 Why we like it: There is a pullback resistance level Take profit: 1.46630 Why we like it: There is an overlap support level which aligns with the 38.2% Fibonacci retracement 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.
Short
by VantageMarkets
USDCAD Puzzle: NFP Triumphs, CPI Looms - Where to Navigate?Dear Traders, As we delve into today's trading session, our attention is squarely fixed on USDCAD, where a compelling buying opportunity may emerge around the 1.35750 zone. Within the realm of USDCAD's current uptrend, we're witnessing a notable correction phase, drawing the pair closer to the critical support and resistance juncture at 1.35750. This juncture warrants careful observation and strategic planning as we navigate market dynamics. Moreover, it's crucial to contextualize our trading stance within the broader economic landscape. Last Friday's Non-Farm Payrolls (NFP) data revealed a robust performance, with an impressive 303,000 jobs added, surpassing expectations which were at 212,000. This upbeat employment report underscores the resilience and strength of the US labor market, potentially instilling confidence in the US Dollar. However, amidst this positive sentiment lies a note of caution. We must be vigilant as we approach Wednesday's impending release of the Consumer Price Index (CPI) data. Anticipations are running high, with projections suggesting a potential uptick in inflationary pressures. Should the CPI data indeed exceed expectations, it could spark concerns about inflationary trends, possibly influencing market sentiment and subsequent trading patterns. Therefore, as we weigh the promising outlook stemming from last week's NFP figures against the looming uncertainty surrounding CPI data, it's imperative to adopt a balanced approach. Stay attuned to market developments, exercise prudent risk management practices, and remain adaptable in response to evolving conditions. In conclusion, while the prospect of a buying opportunity in USDCAD beckons, let's proceed with a measured approach, mindful of both the bullish signals from the NFP report and the potential impact of Wednesday's CPI data release. Wishing you all a safe and successful trading day. Best regards, Joe
Long
by JoeChampion
CADCHF - Keep It Simple🍰Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📉 From a long-term perspective , CADCHF has been overall bearish, trading within the falling channel in red. 📈 From a medium-term perspective, CADCHF is in a correction phase trading within the rising wedge pattern in blue. 🏹 The highlighted red circle is a strong area to look for sell setups as it is the intersection of the upper red and blue trendlines. 📚 As per my trading style: As #CADCHF is around the blue circle zone, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...) 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
Short
by TheSignalyst
AUDCAD under the pressure of bearish stocksIn anticipation of tomorrow's trading session, our attention is fixed on AUDCAD, with a potential selling opportunity materializing around the 0.90300 zone. Currently entrenched in a downtrend, AUDCAD finds itself amidst a corrective phase, edging closer to the pivotal 0.90300 support and resistance area. It's essential to trade prudently, particularly as broader market indices indicate a bearish sentiment. Notably, AUDCAD often exhibits a correlation with these indices, suggesting a potential downside for the currency pair. Trade with care, Joe
Short
by JoeChampion
USDCAD: NFP Surge Sets Stage for CPI ShowdownAttention Traders, In tomorrow's trading session, our focus is on USDCAD, with a strategic eye on a potential buying opportunity around the 1.35700 zone. Currently, USDCAD was trading in a downtrend and successfully managed to break it out, currently is approaching the retrace area at 1.35700. Augmenting our analysis with a fundamental layer, recent Non-Farm Payrolls (NFP) data emerged robust, surpassing expectations with 303k jobs added compared to the forecasted 212k. This positive economic indicator underscores the strength of the US labor market, potentially influencing future monetary policy decisions. Looking ahead, the upcoming Consumer Price Index (CPI) data slated for Wednesday assumes pivotal importance. If CPI figures reveal a significant uptick, signaling heightened inflationary pressures, it could serve as a catalyst for further Federal Reserve hawkishness. Such a scenario, where CPI data exceeds expectations, may reinforce expectations of tighter monetary policy from the Federal Reserve. This could include measures like interest rate hikes or tapering of asset purchases, bolstering the US Dollar and potentially driving upside momentum in USDCAD. As savvy traders, it's crucial to remain attuned to both technical and fundamental factors shaping market dynamics. By incorporating these insights, we aim to navigate tomorrow's trading session with prudence and insight. Best wishes for successful trading endeavors!
Long
by JoeChampion