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CAD

EURCAD - Wait For The Bulls 🏹Hello TradingView Family / Fellow Traders, On Daily: Left Chart EURCAD has been bearish but it is currently approaching a robust support zone so we will be looking for buy setups on lower timeframes. On H4: Right Chart 📈 For the bulls to take over, we need a momentum candle close above the last major swing high marked in red. 📉 Meanwhile , EURCAD would be bearish short-term and can still trade lower inside the daily support. 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Richard Nasr
by TheSignalyst
Buy GBPCAD Channel BreakoutThe GBP/CAD pair on the M30 timeframe presents a potential buying opportunity due to a recent upward breakout from a bullish channel pattern. This pattern suggests ongoing buying pressure and a higher likelihood of further advances in the coming minutes or hours. Key Points: Bullish Channel: The price has been trading within an upward-sloping channel defined by two converging lines: a rising support line and a rising resistance line. This ongoing uptrend signals continued buying pressure. Buy Entry: Consider entering a long position around the current price of 1.6995, which sits close to the channel breakout level. This could offer an entry point near a potential continuation of the upward move. Target Levels: Initial bullish targets lie at the resistance levels of 1.7071 and 1.7106, marking previous resistance zones within the channel. Stop-Loss: To manage risk, place a stop-loss order below the support line of the broken channel, around 1.6960. This helps limit potential losses if the price reverses and breaks back down.
Long
by KABHI_TA_TRADING
2
USDCAD: Navigating Powell's hawks and Strong PayrollsGreeting Traders! In today's trading session, we're eyeing a potential buying opportunity for USDCAD around the 1.34000 zone. Currently, USDCAD is in an uptrend but undergoing a correction phase as it nears the 1.34000 support and resistance area. Adding a fundamental layer to our analysis, Chair Powell's recent shift in stance regarding a March rate cut is noteworthy. His clear statement that a rate cut is not the base case, combined with the robust payrolls report, reinforces the message of a resilient US economy. It's important to note that Powell has access to more information than the markets, yet he chose to signal against rate cuts rather than keeping options open. In an environment where US economic growth leads the way, it tends to bolster the US Dollar. This dynamic suggests potential strength in the USD, which could influence the USDCAD pair accordingly. Trade safe, Joe.
Long
by JoeChampion
3
AUDCAD:Bearish stocks and potential downsidesHey Traders, in today's trading session we are monitoring AUDCAD for a selling opportunity around 0.88200 zone, AUDCAD is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 0.88200 support and resistance area. The prevailing bearish sentiment in the stock market is poised to exert downward pressure on AUDCAD, primarily due to the pair's correlation with equities. As AUD is considered a commodity-linked currency and often moves in tandem with global stock markets, the recent downturn in stocks has contributed to a positive correlation between AUD and AUDCAD. Consequently, the ongoing bearish momentum in equities is expected to translate into downward movements in AUDCAD, reflecting the interconnectedness between currency pairs and broader market dynamics. Trade safe, Joe.
Short
by JoeChampion
AUD weaknessAUD has been weak across the board and is giving potential opportunities to go short. In AUDCAD the Daily bias is bearish and could continue lower. The D chart presented us with a SWH with its 3rd candle lows being breached by today's price action. Ideally in the 1H, the chart will set itself up either in London (2am) or NY session (7am-9am) for a short after a possible run into liquidity stablished by highs of Feb 1st Asian session, which is standing right in the zone of the 0.618 and .786fib. This could be sell opportunity targeting Feb 1st lows.
Short
by dfgaviria
1
USDCAD Breakout and potential retrace with USD strong biasIn tomorrow's trading session, we are closely observing USDCAD for a potential buying opportunity around the 1.34400 zone. USDCAD has been navigating within an uptrend and is currently in a corrective phase, nearing the retrace area at the 1.34400 support and resistance zone. Alongside technical analysis, it's essential to consider fundamental factors influencing the market sentiment. The recent warning from the Federal Reserve about potential rate adjustments adds a layer of complexity to the currency pair's dynamics. Traders should remain vigilant of any shifts in market sentiment driven by central bank communications, as they can significantly impact currency pairs like USDCAD. As always, trade safely and stay informed.
Long
by JoeChampion
Eurcad for a shortTradingview Ideas: Hello fellow traders , my regular and new friends! Welcome and thanks for dropping by my post. Cad seems to be pretty strong as compared to other majors (except USD) Let's see if we do have oppo to short this pair. Same for AudCad Do check out my stream video for the week to have more explanation in place. Do Like and Boost if you have learnt something and enjoyed the content, thank you! -- Get the right tools and an experienced Guide, you WILL navigate your way out of this "Dangerous Jungle"! -- ********************************************************************* Disclaimers: The analysis shared through this channel are purely for educational and entertainment purposes only. They are by no means professional advice for individual/s to enter trades for investment or trading purposes. *********************************************************************
Short
by Shadowing_The_Big_Boys
AUDCAD: What's the link between AUDCAD and dollar strength?In today's trading session, our focus is on AUDCAD, where we're eyeing a selling opportunity around the 0.88600 zone. AUDCAD is currently in a downtrend and undergoing a correction phase, approaching the trend at the 0.88600 support and resistance area. However, a fundamental layer adds depth to our analysis, as AUDCAD exhibits a correlation with stocks. Given the current strength of the dollar, there's potential for pressure on stocks, which in turn could influence a downward trend in AUDCAD. As we assess the dynamics of AUDCAD, it's crucial to consider the broader market context. The strength of the dollar often impacts various asset classes, including stocks. A strong dollar typically leads to lower demand for commodities, which can weigh on commodity-linked currencies like the Australian dollar. Consequently, AUDCAD tends to mirror fluctuations in stock markets, especially during periods of heightened volatility or shifts in investor sentiment.
Short
by JoeChampion
USD/CAD Faces Strong Resistance:Technical / Fundamental AnalysisUSD/CAD Faces Strong Resistance:Technical / Fundamental Analysis The USD/CAD pair has encountered a pivotal juncture, rejecting the 78.6% Fibonacci Level around 1.3530 during the early European hours on Friday. This article explores the technical and fundamental factors influencing this rejection and delves into the broader economic landscape affecting the US Dollar (USD) and the Canadian Dollar (CAD). Technical Analysis: The rejection at the 78.6% Fibonacci Level, situated at 1.3530, signals a noteworthy development. The price is met with strong resistance, marked by the confluence of the Fibonacci level and a bearish dynamic trendline. Additionally, the Relative Strength Index (RSI) has dropped from overbought conditions, hinting at a potential downward move aligning with the prevailing trend. Market Overview: Simultaneously, the US Dollar Index (DXY) is trading around 103.40, reflecting the broader strength of the USD. Notably, the 2-year and 10-year yields on US bond coupons stand at 4.35% and 4.15%, respectively. Despite these positive indicators, the rejection at the critical Fibonacci level suggests a potential shift in momentum for the USD/CAD pair. Fundamental Influences: Monthly US Housing Starts exceeded expectations in December, reaching 1.46 million against the anticipated 1.426 million. Building Permits (MoM) also reported growth, surpassing the market consensus at 1.495 million. Additionally, Initial Jobless Claims for the week ending on January 12 decreased to 187K from the previous reading of 203K, showcasing resilience in the US labor market. On the flip side, the Canadian Dollar (CAD) has found support from elevated crude oil prices, a critical factor given Canada's status as the largest oil exporter to the United States. West Texas Intermediate (WTI) hovers around $73.90 per barrel, contributing to CAD strength as Crude Oil stockpiles decline. Conclusion: The rejection at the 78.6% Fibonacci Level for USD/CAD, coupled with the confluence of technical resistance and bearish signals, suggests a potential shift in the pair's momentum. While positive economic indicators support the USD, the Canadian Dollar gains strength from robust crude oil prices. Traders should monitor these technical and fundamental dynamics closely, as they navigate the complexities of the forex market. As always, prudent risk management and a keen awareness of market conditions are crucial in making informed trading decisions. Our preference SHORT positions Below 1.36300 with targets at 1.34000 & 1.32500 in extension.
Short
by FOREXN1
5
SIMPLEXeffects USDCAD OUTLOOK It's so obvious from what we have on the higher TF (H4 specifically) that we haven't had a change in the market structure being built up until now. We've been moving in a continuous downtrend characterized by the numerous lower lows and lower highs built... It is therefore only wise to look out for sell opportunities in the USDCAD market for the next 2 to 3 days until we thus form a new lower low... #simplexeffects #simplextradehub #thesimplextrader
Short
by Simplex_Tradehub_Official
2
AUD/CAD Analysis: Current Outlook plus fundamental Here's a simplified analysis for AUD/CAD: Long-term view from the weekly chart indicates a bearish trend. Mid-term perspective on the daily chart shows a broken bullish channel, replaced by a bearish one. Considering fundamental factors: Escalating tensions in the Middle East may increase the chance of the Beijing-Taipei conflict, potentially impacting AUD negatively. Long-term, increased oil prices due to these middle-east tensions may favor CAD. Given these factors, AUD/CAD is more likely to maintain a bearish trend over the long term. Stay informed for further developments. Best regards,
Short
by AliSignals
GBPCAD Quadruple top on 1D?The GBPCAD pair delivered a solid buy trade last time we analyzed it (October 05 2023, see chart below), easily hitting the 1.71110 Target, on a structure rise: The price is now signaling a bearish call as it has been rejected on the Lower Highs trend-line that started on the July 17 2023 High. This is technically a Quadruple Top if it stays that way and naturally there is strong sell potential behind it. The natural support levels are the 1D MA50 (blue trend-line) and 1D MA200 (orange trend-line), the latter of which is trading exactly on the Higher Lows trend-line, which is our first Target (1.6950). If the price closes below the 1D MA200 and Higher Lows trend-line, we will re-short and target the 0.618 Fibonacci retracement level, which is just below Support 1. What makes selling a stronger probability right now is the formation of a 1D MACD Bearish Cross, which has been a sell signal with 100% accuracy for the whole 2023. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Short
by TradingShot
USDCAD: Buy signal on a very consistent long term pattern.USDCAD is marginally bullish on the 1D technical outlook (RSI = 57.352, MACD = 0.001, ADX = 48.167) as it crossed over the 1D MA50 and is testing the 1D MA100 as Resistance. The key level is the 0.5 Fibonacci line, if crossed, we will buy and target the 0.382 Fibonacci (TP = 1.36400). The next buy will be on the 0.618 Fibonacci level targeting the bottom of the R1 Zone. 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. ##
Long
by InvestingScope
NZDCAD - Keep It Simple 👌Hello TradingView Family / Fellow Traders, On Daily: Left Chart NZDCAD broke below a previous major low so it is now acting as a local resistance zone, thus we will be looking for trend-following sell setups on lower timeframes. On H1: Right Chart 📈 For the bears to take over, we need a momentum candle close below the last major low in gray. 📉 Meanwhile, until the bears take over, NZDCAD can still trade higher for an over-extended correction movement. 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Richard Nasr
Short
by TheSignalyst
AUD/CAD: Geopolitical Factors and Technical Signals at play Dear traders, Dive into the AUD/CAD realm with a blend of geopolitical insights and technical signals: Before we venture into any further downward potential, keep a close eye on the critical level around 0.8822 for potential breakthroughs. Here's the geopolitical and technical mix in our AUD/CAD analysis: Geopolitical Considerations: Wednesday's Bank of Canada interest rate decision sparks intrigue. The balance of power in this market may shift, reflecting the delicate dance of global influences. Canada's economy, tethered to oil prices, could witness changes spurred by escalating tensions in the Middle East. A surge in oil prices may bolster the CAD. Conversely, any disturbance in the Persian Gulf, a vital oil source for China, could ripple through Australia's economy, intertwined with China's fate. Geopolitical events, like the Hamas-Israel conflict, may reverberate, potentially impacting China, Taiwan, and, subsequently, the AUD. Technical Signals: The battleground of charts and indicators beckons. Before anticipating major moves, consider the technical landscape. The Bank of Canada's decision could sway the market sentiment, making the 0.8822 level a pivotal point. A breach could signal a shift in the technical dynamics. This amalgamation of geopolitical considerations and technical intricacies sets the stage for an engaging AUD/CAD landscape. Stay tuned, adapt to unfolding events, and trade with prudence! Best regards.
Short
by AliSignals