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Usd-cad

USDCAD - Wait For The Trigger ↘️Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. on Daily: Left Chart USDCAD is retesting a resistance zone in blue so we will be looking for sell setups on lower timeframes. on H1: Right Chart USDCAD is forming a head and shoulders pattern but it is not ready to go yet. 🏹 For the bears to take over, we need a momentum candle close below the gray neckline. Meanwhile, until the buy is activated, USDCAD can still trade higher inside the resistance or even break it upward. 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
5
USDCAD: Rising to the top of the Channel for rejection.USDCAD is trading inside a Channel Down since March 10th with the 1D technicals gradually turning neutral (RSI = 44.190, MACD = -0.006, ADX = 30.614). That was after the 1D RSI got oversold and rebounded. The price should now reach as high as the 0.618 Fibonacci level and the 1D MA100 for the LH and get rejected to a new LL. We will take that opportunity and sell, targeting the bottom of the Channel Down (TP = 1.29500). With regards to the current rebound, it is done on the long term HL zone that is holding since May 2021. If the Channel Down makes a new LL as expected, it will be under the HL zone, meaning that the long term trend will get a confirmed change to bearish. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
by InvestingScope
1
🔥 NEW: USDCAD 🔥 AGGRESSIVE 🔥 Counter-Trend TradeIt appears that USDCAD could be reacting to a minor support level and pulling back to the upside before continuing the BIG PICTURE downtrend. Here's my latest setup for the Buy and the Long. RESISTANCE @ 1.3269 SLO @ 1.3245 TP3 @ 1.3235 (closing ALL Buy Orders) TP2 @ 1.3210 (shaving 25%) TP1 @ 1.3190 (shaving 25%) BSO @ 1.3166 (if Price Action pulls back to the downside) BLO1 @ 1.3150 BLO2 @ 1.3140 SUPPORT @ 1.31246
by ProfessorCEWard
🔥 STOP LOSS MODIFIED: USDCAD 🔥 Counter-Trend TradeRESISTANCE @ 1.3269 SLO @ 1.3245 ⏳ TP3 @ 1.3235 (closing ALL Buy Orders) TP2 @ 1.3210 (shaving 25%) TP1 @ 1.3190 (shaving 25%) 💰 +24 pips +SL @ 1.3169 🚫 BSO @ 1.3166 📈 +28 pips 🤑 BLO1 @ 1.3150 ⏳ BLO2 @ 1.3140 ⏳ SUPPORT @ 1.31246 💰 TP1 is in the bag for a profit of +24 pips 💪🏾 TP2, here we come!!!! 🤑 BSO Net Equity is @ +28 pips 🚫 Stop Loss has been modified to preserve capital (see above)
Long
by ProfessorCEWard
USDCAD, D1 | Bearish Breakout?We're seeing price make a bearish breakout from a key support-turned-resistance level at 1.3216. A fall from here could see prices drop all the way towards the 1.3066 level. Do take note that there is an ascending support line which might push prices up which is why the take profit target is at 1.3066 (and not further away). Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘Name of third party provider). 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 Name of third party provider. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Forex Capital Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. FXCM EU LTD (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. FXCM Australia Pty. Limited (www.fxcm.com): ** Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com FXCM Markets LLC (www.fxcm.com): Losses can exceed deposits.
by FXCM
1
USDCAD, D1 | Potential bounce off major supportPrice is now testing a major support at 1.3219 which is an overlap support and also a 127% Fibonacci extension. A bounce from here could see prices rise up towards the 1.3316 level. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘Name of third party provider). 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 Name of third party provider. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Forex Capital Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. FXCM EU LTD (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. FXCM Australia Pty. Limited (www.fxcm.com): ** Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com FXCM Markets LLC (www.fxcm.com): Losses can exceed deposits.
Long
by FXCM
2
🔥 NEW: USDCAD...LONG 🔥 SWING 🔥RESISTANCE (major) @ 1.3550 RESISTANCE (minor) @ 1.3466 TP2 @ 1.3550 (closing ALL Buy Orders) TP1 @ 1.3466 (shaving 50%) BSO @ 1.3300 ⏳ The USD against the CAD has been trading in a downtrend for the past few months, and it is currently approaching the major resistance level of 1.3550. If the price respects this level, it could signal a reversal in the trend and a continuation of the downtrend retracement that began in mid-October 2022. Also, there is a minor resistance level at 1.3466, which I believe will cause a pullback, so I'm going to shave off some profit and hold my remaining position up to major resistance. Ultimately, the direction of the USDCAD will depend on market sentiment and the outcome of various economic events. ADDITIONAL INFO: —If the US Federal Reserve raises interest rates more aggressively than the Bank of Canada, it could put upward pressure on the value of the USDCAD. —If the US economy continues to grow at a faster pace than the Canadian economy, it could also put upward pressure on the value of the USDCAD.
Long
by ProfessorCEWard
USDCAD Long US jobs indicator signals early signs of stress, CAD rides positive momentum after BoC hike Bearish momentum accelerates as CAD continues positive momentum – ‘death cross’ and major support will be tested nitial jobless claims out of the US flashed another early warning signal regarding the otherwise robust job market. 261 thousand people were newly unemployed as of the week of 3 June and represented the second time in recent prints that the data point exceeded estimates. As a result, the dollar sold-off, seeing an extended move to the downside for USD/CAD The pair now shows renewed downside momentum and has broken beneath the longer-term channel that has contained the majority of price action. In fact, the move now tests the long-term trendline support that has witnessed multiple tests, none of which were successful. The ‘death cross’ - circled in orange – provides further indications of a bearish continuation from here. A daily and weekly candle close below the trendline would naturally have bears looking at 1.3230 as the next level of support with the level coinciding with the November 2022 swing low. Breakouts often retrace to retest support/resistance and so a true test of a potential bearish breakdown would be a successful test of the trendline which would effectively become resistance, and subsequent selling thereafter. Should CAD momentum wane and the US dollar look to claw back lost ground, a hold of trendline support will be key. If the bearish momentum were to falter, 1.3503 would be the next level of interest with an invalidation of the bearish viewpoint around 1.3600 and 1.3650. The weekly chart reveals the 61.8% and 50% Fibonacci retracements of the major 2020 to 2021 sell-off - roughly the zone that has been housing price action for the last quarter of 2022 and 2023 this far. Canadian employment data may attract a few more eyes than normal given the uptick in US initial jobless claims yesterday – which caused a notable response in the dollar and highlights FX market’s sensitivity to incoming data. Next week crucial US inflation data provides another opportunity for core inflation to finally move below the recent 5.5% - 5.7% multi-month range. A softer inflation print could see downward revisions in future rate expectations and may see the USD/CAD head even lower from here. After the RBA and BoC surprised markets with hikes in June, could the Fed follow suit? In my opinion I think it would be a tough ask, given how vocal prominent members of the Fed have been about voting to forgo a hike next week with the possibility of a hike in July should the data necessitate one. The Fed will also release its quarterly summary of economic projections which ought to provide markets with a better idea of the economic outlook. US PPI will also factor into the inflation conversation but any surprises there will need to be factored into next month’s FOMC meeting. Granted USD/CAD has been sideways for months, but conditions could be getting ripe for a trend. USD/CAD is testing vital converged support around 1.3220-1.3320, a break below which could clear the way for a drop initially toward the psychological 1.3000, potentially toward the August low of 1.2725. Moreover, the IG Client Sentiment (IGCS) shows 70% of retail traders are net-long with the ratio of long to short at 2.3 to 1. The number of traders net-long is a whopping 74% higher from last week. RSI above 200. Trend Bullish. The Canadian dollar may have just received the boost to extend gains against some of its peers, thanks to the Bank of Canada’s (BOC) hike on Wednesday. BOC hiked its overnight rate to a 22-year high of 4.75%, saying “concerns have increased that CPI inflation could get stuck materially above the 2% target.” The central bank, however, dropped the April language saying it “remains prepared to raise the policy rate further”, making it more data dependent. Markets are pricing in another rate hike in July, with the terminal rate seen at 5.15% by the end of the year.
Long
by DaveBrascoFX
1
USDCAD, H4 | Could we see a bounce?Price is testing a major support level at 1.3319 which is a triple swing low support and also a trend line support. A bounce from here could see prices being nudged up to the 1.3400 level which is an overlap resistance and a 23.6% Fibonacci retracement. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘Name of third party provider). 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 Name of third party provider. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Forex Capital Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. FXCM EU LTD (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. FXCM Australia Pty. Limited (www.fxcm.com):  ** Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com FXCM Markets LLC (www.fxcm.com): Losses can exceed deposits.
Long
by FXCM
2
USD CAD - FUNDAMENTAL ANALYSIS2023-2024 Exchange Rate Forecasts From MUFG Growth Concerns hamper Commodity Currencies MUFG notes important uncertainty over the outlook for Reserve Bank of Australia (RBA) policy. On balance it expects that the RBA will not hike rates again. As far as the currency is concerned, it adds; “We continue to see AUD/USD moving higher but assume underperformance relative to core G10 as growth globally and in Australia remains challenging.” MUFG notes that the government and Reserve Bank of New Zealand have revised their GDP forecasts and no longer expect a recession, but is doubtful whether the upgrade is justified. It adds; “These conditions imply the government and the RBNZ’s GDP forecasts could be unrealistic. NZD/USD gains as the dollar weakens could be curtailed as aggressive monetary tightening hits growth.” MUFG expects that weaker risk conditions will hamper the Canadian dollar with forecasts of USD/CAD declines based on US weakness rather than Canadian currency gains.
Short
by thunderpips
3
USDCAD Potential Forecast | 7th June 2023 Fundamental Backdrop BOC monetary policy statement today, expected to maintain. Potential bearish pressure coming into USDCAD if BOC hikes. Technical Confluences Near term resistance level at 1.36374. Near term support level 1.33166. Idea We believe that the BOC will maintain interest rates and this will solidify the notion that USDCAD will remain in a range-bound market. NOT FINANCIAL ADVICE DISCLAIMER The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas. We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades. Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks. OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
by OlympusLab