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Usd-cad

USD CADMy analysis on USD CAD, I use limit orders so I don't need to be in front of the chart all day. To consider this a good entry there are certain criteria to follow: 1. Clean BoS with IMB. 2. * Look for areas where liquidity has been purged. 3. * Stochastic: in uptrend 0-15, in downtrend 85-100. ( * ) = Not optional but increases our probability. I use Fibonacci to get these extreme points and my preferred one is 75% retracement, with a risk-reward of 1:3. Set and forget. Trade carefully, This is not financial advice, DYOR.
Short
by betimmavriqi
USDCAD: Short term buyUSDCAD is almost neutral on its 1D technical outlook (RSI = 55.021, MACD = 0.001, ADX = 15.874) as the price has been mostly ranging within the 0.5 - 0.618 Fibonacci zone for the past two months. The 1D MA50 held and the push crossed over the 1D MA100 again, so on the short term we expect a HH on the 0.382 Fibonacci (TP = 1.36400). After that test, the price action since October 2022 (which is sideways) shows that most likely a pullback under the 0.618 Fib is to be expected. 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
USDCAD Short-term sell signal to the December Low.The USDCAD pair gave us a strong buy signal last time we traded it (February 09, see chart below) but was rejected right under the 0.618 Fibonacci retracement level: A similar rejection happened on December 07 2022 and April 25 2023 which resulted into a sell-off to the lower Support Zone. Even though the medium-term pattern is a (dashed) Channel Up, the recent Bearish Cross formation can initiate a sell-off to the lower Support Zone similar to those we mentioned before. The confirmation would be a 1D candle closing below the 1D MA50 (blue trend-line) and the Higher Lows trend-line of the Channel Up. As a result our short-term target is 1.32300 (just above the Support Zone). A closing above the Symmetrical Resistance Zone, invalidates that. ------------------------------------------------------------------------------- ** 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
3
USDCAD - Top-Down Analysis 📹 UpdateHello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📈 Here is a detailed update top-down analysis for #USDCAD. USDCAD is hovering around the lower bound of the wedge pattern. So we will be looking for trend-following buy setups on lower timeframes. 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good Luck!. All Strategies Are Good; If Managed Properly! ~Rich
Long
by TheSignalyst
1
USDCAD: Potential Upsides with Canada easing inflationHey Traders, in today’s trading session we are monitoring USDCAD for a buying opportunity around 1.35700, USDCAD is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 1.35700 support and resistance area. The current scenario suggests a disinflationary trend in Canada when examining inflation and wage dynamics. While not the central expectation, it wouldn't be unexpected for the Bank of Canada to adopt a dovish stance during their upcoming meeting. This could involve hints at a potential rate cut in the future meeting or discussions surrounding pausing their Quantitative Tightening program. Trade safe, Joe.
Long
by JoeChampion
2
Fundamental Drivers: USDCAD ForecastIn the upcoming week, our focus shifts to USDCAD, where we're eyeing a potential buying opportunity around the 1.34300 zone. Currently, USDCAD is entrenched in an uptrend but is undergoing a corrective phase as it nears the 1.34300 support and resistance area. Adding a fundamental layer to this analysis, recent hot CPI and PPI data in the US underscore the potential upside for USDCAD. The robust Consumer Price Index (CPI) and Producer Price Index (PPI) numbers suggest strengthening inflationary pressures in the US economy, which could buoy the USD against the CAD. This fundamental backdrop aligns with our technical analysis, supporting the notion of a buying opportunity in USDCAD as it navigates its correction phase. Trade safe, Joe.
Long
by JoeChampion
USD/CAD: Interpreting CPI Numbers Through Technical LensHey Traders, in today's trading session we are monitoring USDCAD for a buying opportunity around 1.34630 zone, USDCAD is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 1.34630 support and resistance area. Adding a fundamental layer, The recent CPI data in the US has shown signs of inflationary pressure, with the core CPI coming in stronger than expected at 0.4%, surpassing the market consensus of 0.3%. This unexpected uptick in inflation has sparked speculation that the Federal Reserve may adopt a more hawkish stance, as Chair Powell's recent comments hinted at a reluctance to implement rate cuts in the near term. As a result, the US dollar has strengthened, leading to potential buying opportunities in USD pairs like USDCAD. The robust CPI figures suggest a possible continuation of USD strength, which could support bullish momentum in USDCAD. Trade safe, Joe.
Long
by JoeChampion
1
Sell USDCAD Bearish ChannelThe USD/CAD pair on the M30 timeframe exhibits a potential selling opportunity due to 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: Bearish Channel: As visualized on the M30 chart, the price has been confined within a descending channel characterized by two falling lines: a resistance line and a support line. This ongoing downtrend signals continued selling pressure. Sell Entry: Consider entering a short position around the current price of 1.3460, positioned close to the channel resistance. This offers an entry point near a potential reversal zone. Target Levels: Initial bearish targets lie at the support levels of 1.3414 and 1.3396, marking previous support zones within the channel. Stop-Loss: To manage risk, place a stop-loss order above the channel resistance line at 1.3485. This helps limit potential losses if the trend unexpectedly breaks upwards. Thank you
Short
by KABHI_FOREX_TRADING
21
USDCAD Buy the bounce short-termOn our last USDCAD analysis (December 01 2023, see chart below), the price action gave us an excellent sell entry that easily hit our 1.3400 target: The pair has since rebounded above both the 1D MA50 (blue trend-line) and 1D MA200 (orange trend-line). We expect the 1D MA50 to hold and deliver a new short-term rebound towards the 0.618 Fibonacci level (Target at 1.36200), comfortably below the 1-year Symmetrical Resistance Zone. A closing above the that Zone would present a new buy opportunity after a pull-back near the 1D MA50 again with a target on the Resistance 1 level. ------------------------------------------------------------------------------- ** 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. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Long
by TradingShot
4
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
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
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