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Usd-cad

USD CAD - FUNDAMENTAL DRIVERSThe Canadian dollar remains relatively weak against the greenback, as it continues to hover near its cyclical high. While many investors fear a tightening of global credit conditions, some believe that Canadian bank could face a very difficult environment due to their exposure to residential real estate in a much higher interest rate environment. Combined with weakening commodity prices, the short-term outlook does not support a stronger loonie. Yet Canadian banks continue to outperform their global counterparts due to a more rigid regulatory environment and strong population growth, both of which argue against a dramatic erosion of their deposit base. USD/CAD should remain in the 1.36/1.39 range in the first half of 2023, before making a comeback in the second half of the year when more central banks finally end their tightening cycle.
by thunderpips
USD CAD - FUNDAMENTAL DRIVERSThe Canadian dollar remains relatively weak against the greenback, as it continues to hover near its cyclical high. While many investors fear a tightening of global credit conditions, some believe that Canadian bank could face a very difficult environment due to their exposure to residential real estate in a much higher interest rate environment. Combined with weakening commodity prices, the short-term outlook does not support a stronger loonie. Yet Canadian banks continue to outperform their global counterparts due to a more rigid regulatory environment and strong population growth, both of which argue against a dramatic erosion of their deposit base. USD/CAD should remain in the 1.36/1.39 range in the first half of 2023, before making a comeback in the second half of the year when more central banks finally end their tightening cycle.
by thunderpips
USDCAD - Rising Range 📦Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. USDCAD is has been overall bullish trading inside the fat rising red wedgel, and it is currently sitting around the lower red trendline. So we will be looking for buy setups on lower timeframes. Moreover, the green zone is a strong support. 🏹 So the highlighted purple circle is a strong area to look for buy setups as it is the intersection of the green support and lower red trendline. (acting as non-horizontal support) As per my trading style: As USDCAD is sitting around the purple circle zone, I will be looking for bullish reversal setups (like a double bottom 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
3
USDCAD Outlook 28 March 2023The USDCAD traded strongly to the downside as the price failed to break beyond 1.3745 and fell beyond the support level of 1.3650. This move lower was due to a combination of the renewed weakness of the DXY but more because of the surge in oil prices. WTI traded up from the 69 price level, breaking beyond the near term high of 71.40 to reach the round number level of 73. This move is due to increasing supply concerns as Russia's sea-borne crude-oil flows have fallen to 3 million barrels a day and as European natural gas prices are higher due to strikes in France. As WTI consolidates just below 73, if the upward move continues toward the next resistance are of 75, further downside could be anticipated for the USDCAD, with the next key support level at 1.3560. However, watch out for a potential hesitation of the downside at the 1.36 price level.
TVC:USOILShort
by JinDao_Tai
1
USDCAD on its Rising Support. Trade around it.The USDCAD pair is on the Rising Support that is holding for more than a month. There is also the Support Zone (1.36280 - 1.36480) that is holding for 2 weeks. Trading Plan: 1. Buy as long as the Rising Support holds. 2. Sell if the Support Zone breaks (i.e. closes a candle under it). Targets: 1. 1.3800 (Resistance (1)). 2. 1.3555 (Support (1) and Fibonacci 0.5). Tips: 1. The RSI (4h) is also on a 2 week Support. This is technically a short-term bullish sign. Please like, follow and comment!!
by TradingBrokersView
3
USDCAD: Strong Buying ZoneThe USDCAD has successfully broken out of a triangle pattern and also breached a local resistance line at 1.375, but it faced strong rejection after the break. It seems that the price will undergo a correction towards the last support level at 1.375 or even down to 1.370, which I consider a strong and ideal buying zone for the price to continue its upward move towards 1.385. ------------------------------------------------------------------------- Let me know your thoughts in the comments, and show your support by liking the idea. Please follow if you're interested in more ideas like this. Your support is greatly appreciated!
Long
by Candlestick_OB
USD/CAD Remains Steady Amid Mixed Fundamental BackdropThe USD/CAD currency pair is currently trading in a tight range, as it is influenced by a combination of factors. The Loonie, as it is also known, is being supported by a recent uptick in oil prices, which has increased due to fears of potential supply disruptions in the Middle East. This has acted as a headwind for the USD/CAD pair, which is also being weighed down by subdued US dollar demand. Additionally, traders are eagerly awaiting important macroeconomic data from both the US and Canada, which could provide a fresh impetus for the pair. Despite a goodish rebound from the 1.3630 area, or over a two-week low, the USD/CAD pair remains below the 1.3700 mark due to a combination of factors that are keeping any meaningful upside in check. It is important to note that the recent collapse of two mid-size US banks, Silicon Valley Bank and Signature Bank, has contributed to the Federal Reserve's cautious outlook on the economy. This has resulted in the Fed lowering its median forecast for real GDP growth projections for 2023 and 2024, which is keeping the US Treasury bond yields and the USD subdued. While there is generally a positive tone around the equity markets, growing concerns about slowing economic growth denting fuel demand are capping the upside for oil prices. This, combined with expectations that the Bank of Canada (BoC) will refrain from raising interest rates any further, is providing some support to the USD/CAD pair. From a technical perspective, the lack of a clear near-term trajectory is reflected in the two-way price movements that have been witnessed since the beginning of the week. Given the mixed fundamental backdrop, traders are advised to exercise caution before placing aggressive directional bets around the USD/CAD pair. Investors are also showing some reluctance ahead of important macro data releases from both the US and Canada, which are due later during the early North American session. Friday's economic docket features the release of Durable Goods Orders and the flash PMI prints in the US, which will be closely watched by traders. Meanwhile, Canadian monthly Retail Sales figures will provide further cues. Finally, oil price dynamics will play a crucial role in determining short-term opportunities on the last day of the week. In conclusion, the USD/CAD currency pair remains steady above 1.3700 but lacks bullish conviction amid an uptick in oil prices. Traders are advised to stay cautious and follow the macroeconomic data releases and oil price dynamics to identify any short-term opportunities.
by FOREXN1
3
USDCAD in trading range.USDCAD - Previous support located at 1.3650. Previous resistance located at 1.3750. The trend of higher intraday lows has also been broken. Further downside is expected. Risk/Reward would be poor to call a sell from current levels. A move through 1.3650 will confirm the bearish momentum. 24h expiry- We look to Sell at 1.3740 (stop at 1.3780) Our profit targets will be 1.3640 and 1.3620 Resistance: 1.3750 / 1.3800 / 1.3850 Support: 1.3650 / 1.3600 / 1.3500 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
Short
by OANDA
USDCAD Outlook 21 March 2023The USDCAD traded lower through the trading session yesterday as the DXY continued to weaken. The price reversed from the 1.3745 resistance level, down toward the key support level of 1.3650. Today, the Canadian CPI is due to be released and is expected to indicate a slowdown in overall inflation growth with the Median CPI y/y (Forecast: 4.8% Previous: 5.0%) and the Trimmed CPI y/y (Forecast: 4.9% Previous: 5.1%). Recently the Bank of Canada paused on its rate hikes, to allow time for the effects of the previous rate hikes to be reflected. A slowdown in inflation growth would be supportive of their recent decision to pause and could reinforce a continuation of the decision. This could result in some strengthening of the Canadian dollar. The USDCAD is likely to retrace to test the 1.37 round number level and 50% Fibonacci retracement level. However, if the USDCAD breaks below 1.3650, the next key support level would be at 1.3560.
Short
by JinDao_Tai
USDCAD H1: Bullish outlook seen, further upside above 1.3650 On the H1 time frame, prices are testing the support zone at 1.3650, in line with the graphical support and 38.2% Fibonacci retracement where we could see a further upside above this level. A break above our upside confirmation level at 1.3720 which is also a supply zone could provide the bullish acceleration to the resistance zone at 1.3800. Failure to hold above the 1.3650 support zone could see prices push lower to the next support zone at 1.3550.
Long
by T3-Consultancy
USDCAD Price Expected to Breakout UpwardThe USDCAD pair is in a long-term uptrend and is currently moving within a short-term triangle pattern. It has almost reached the end of the triangle pattern. I expect the price to break out of the triangle and continue its upward journey, with targets at 1.38200 and 1.39250. ------------------------------------------------------------------------- Let me know your thoughts in the comments, and show your support by liking the idea. Please follow if you're interested in more ideas like this. Your support is greatly appreciated!
Long
by Candlestick_OB
1
USDCAD Sideways this year, surge in 2024.USDCAD has entered a 1 year consolidation phase following the 1week Golden Cross. It is following the 2019 pattern. The RSI's of the the two periods also share similar patterns. You will get many opportunities to buy low and sell high in that range this year buy you want to to ready to keep buys long term for the first two quarters of 2024 when the price will attempt another Resistance A test. Follow us, like the idea and leave a comment below!!
by TheCryptagon
1
USDCAD H4 | Potent Bearish Reversal Looking at the H4 chart, Price has reversed from the resistance level at 1.3706 which is overlap resistance. A reverse from this level, price could drop to the support level at 1.3663 along with a 38.2% Fibonacci retracement. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
Short
by Rockqet
USD/CAD Fundamental + Technical Macroeconomic Update | 3.14.23Weaker dollar due to uncertainties about Federal Reserve policy and US banking sector On Wednesday, the dollar index was trading around 103.5, which is near its lowest levels in a month. This happened because investors are unsure about the outlook for Federal Reserve monetary policy. They are also worried about recent turmoil in the US banking sector and the latest US inflation report. Some investors speculate that the Fed might pause its tightening campaign to avoid further risks to the financial system. Additionally, the annual inflation rate in the US slowed further to 6% in February, the lowest since September 2021. Money markets are now pricing an 80% chance of a 25 basis point rate hike from the Fed next week, lower than the half-percentage point increase expected a week ago. Canadian dollar under selling pressure due to the Bank of Canada's decision Investors are reacting to the end of the tightening cycle from the Bank of Canada, and the Canadian dollar is under selling pressure against the dollar. The Bank of Canada held the target for its overnight rate unchanged at 4.5% in March, as expected, and stated that they should keep it at the current level should economic conditions develop broadly in line with expectations. This is in contrast with the hawkish Federal Reserve, which sparked demand for the dollar. Fed Chair Jerome Powell told Congress that the central bank would likely need to raise rates more than expected in response to recent robust inflation and employment data. Oil prices rebound as OPEC raises forecast for Chinese oil demand growth Brent crude futures rose above $78 per barrel on Wednesday, rebounding from three-month lows as OPEC raised its forecast for Chinese oil demand growth in 2023. This is due to the country’s exit from the zero-Covid policy. However, the oil-producing group left its outlook for global demand unchanged, citing potential downside risks for global growth. On the supply side, Saudi Arabia energy minister Prince Abdulaziz bin Salman said OPEC+ will stick to production cuts agreed in October until the end of the year. The international oil benchmark remains down more than 5% this week due to the turmoil in the US banking sector and the prospect of another interest rate hike from the Federal Reserve next week. Investors now look ahead to IEA’s monthly report and official data on US crude inventories on Wednesday. Investors reassess outlook for monetary policy and growth, driving down yields on Canadian government bonds The yield on Canada's 10-year government bond eased to below 3%, a level not seen in a month, and is tracking its US peer lower as investors reassess the outlook for monetary policy and growth. Lingering concerns about a Fed-induced recession and the health of the US banking sector sparked demand for safe-haven assets, mainly government debt. Domestically, the Bank of Canada paused its rate-hike cycle at 4.5%, as previously signaled, after 425bps in rate increases during the last eight sessions. Policymakers noted that GDP growth was below expectations in the fourth quarter of 2022, emphasizing the need to support growth.
by TayFx
USDCAD, an opportinity to go long.USDCAD / 4H Hello traders, welcome back to another market breakdown. Technical analysis: The USDCAD currency pair has been experiencing a bullish trend , with the price consistently breaking higher. Furthermore, on the monthly time frame, the price has rejected a major key level. However, Today we have CPI data, we I'll be carefull with any setup based on Technical analysis. The scenario I'm looking at: Broken resistance becomes support.
Long
by UnknownUnicorn27919176
12