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Loonie

Shooting Star on USDCAD weekly 8 Feb - 5 Mar 2022Alright, apparently USD is losing grounds against CAD. Breaking 1.2689, which it shall probably will, open way to 1.2600 and 1.2500. Huge shooting star (inverted hammer) on weekly timeframe, with marketing stabilizing itself from the sudden spike on oil last week. Chances are, we might actually see Loonie Dollar struggling between 1.2600 and 1.2700 for the upcoming week. Keep in mind the entire picture and levels on the chart, avoid long positions, happy trading and Best of luck.
Short
by Uzi-Trades-Forex
Potential for USD/CAD downside...1.2300 seems to have a lot of confluences pointed towards. Its a heavy 300+ pip movement towards the downside but it could indicated the movements to come on the rest of this week and into next. It would be a good idea to await a little more pressure to the downside with a downtrend to fully form on the lower timeframes such as the 1 hour. Upside scenarios seem limited at this stage, but make sure to keep up with the dxy when trading on this pair.
Short
by FTUKcom
USDCAD Can Be A Great Long OpportunityTraders, USDCAD has been consolidating for weeks but now it has started to show a sign which can push it higher. This can be multi week position sort of opportunity which is just about to start. See the chart for notes and levels. Take one steps at a time. Trade what you see and ignore any hypes. Stay objective. Rules: 1. Never trade too much 2. Never trade without a confirmation 3. Never rely on signals, do your own analysis and research too ✅ If you found this idea useful, hit the like button, subscribe and share it in other trading forums. ✅ Follow me for future ideas, trade set ups and the updates of this analysis ✅ Don't hesitate to share your ideas, comments, opinions and questions. Take care and trade well -Vik ____________________________________________________ 📌 DISCLAIMER The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of education only. Not a financial advice or signal. Please make your own independent investment decisions. ____________________________________________________
Long
by vikinsa
2
USDCAD H4 - Short SetupUSDCAD H4 Bit of a long-term forecast projection here... However, CAD seems to be gaining in strength due to recent WTI demand. Market correlation right there. We also have DXY at a key resistance price (weekly/daily resistance), from here we can expect rejections like we have already mentioned, especially after seeing the D1 close break. Lots of data coming up this week to start the week, but eyes peeled for something like the above. The perks are, we need the break and retest for confirmation purposes. Without this, we can't take the trade, and thus can't lose money...
Short
by Trade_Simple_FX
USDCAD: Price Loosing Momentum. Consolidation Ahead ?Since MAY 2021, the greenback has been appreciating against the CAD and various other currencies! The FED signaling BOND tapering at a faster rate and 2-3 hikes already priced in for 2022, the USD is resilient as for now. With the price of USDCAD approaching 1.3000 resistance barrier, the RSI has been generating a loose in price momentum evident by the bearish divergence. To trade this opportunity with caution and confirmation, we need the D candle to break the ascending trendline and 1.27600 level (candle must close below 1.27600). The take profit target would be at 1.26400 and the ideal stop loss should be placed above the swing high. A 1:1 risk to reward is needed to trade this opportunity, so the entry should be adjusted based on all these parameters. Cheers, I hope you found this insight helpful.
Short
by FX618Analysis
Excellent CUP & HANDLE Reversal Pattern on LOONIEIts a good pattern that has developed on this pair. To be able to trade this with certain confirmation, we need the daily and 4H candle to close above 1.25000 resistance. After this a LONG trade can be taken to target 1.26500 Monthly R1 pivot. THIS JUST REPRESENTS MY ANALYSIS ON THIS PAIR AND ITS NOT A TRADE SIGNAL. I HAVE MANY PAIRS THAT I MONITOR AND ALL OF MY TRADES ARE ON W, D , 4H TIMEFRAME (SWING TRADES). ITS NOT POSSIBLE TO POST ALL OF MY ANALYSIS HERE, HOWEVER I POST TRADE SIGNALS WHEN THE CRITERIA IS MET ON THE FX PAIRS I MONITOR. FOLLOW & LIKE TO RECEIVE FREE FX SWING TRADE SIGNALS CHEERS.
Long
by FX618Analysis
LOONIE Likely to target 1.24500 region as a consolidation move!Price seem to be supported by S2 MONTHLY PIVOT. A potential break of trendline could lead the price to aim towards descending trendline located at the area near S1 MONTHLY PIVOT. For the criteria to meet, The 4H candle needs to close above the trendline and 4H 50 EMA. After this the RISK TO REWARD needs to be evaluated based on WEEKLY pivots. This move is likely just a consolidation move as the LOONIE looks to retrace slightly to a concrete psychological resistance at 1.25000. Downtrend is still in play as the currency is supported by commodities prices. This is just my analysis and its not a trade signal. shall the the criteria meet I shall post the trade instruction in a new post.
Long
by FX618Analysis