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Usdcadanalysis

USDCAD → Moves below 1.3700 followed by 50-day EMAThe FX:USDCAD pair experiences downward pressure following the release of weaker US inflation data on Tuesday. Moreover, the uptick in crude oil prices is likely supporting the Canadian Dollar (CAD), adding to the pressure on the USD/CAD pair. The technical indicators paint a bearish picture for the USD/CAD pair. The 14-day Relative Strength Index (RSI) below the 50 level indicates downward pressure, signaling a bearish momentum and reflecting a weaker market sentiment. Additionally, the Moving Average Convergence Divergence (MACD) line, while above the centerline, has shown a divergence below the signal line. This suggests a potential shift in momentum towards a bearish sentiment in the USD/CAD pair. The USD/CAD pair trades around 1.3690 during the early European session, after falling by almost 100 pips since the previous session. The 50-day Exponential Moving Average (EMA) at 1.3670 could act as the immediate support. A firm break below the latter could influence the USD/CAD pair to navigate the region around the psychological level at 1.3600, followed by the 38.2% Fibonacci retracement at 1.3591 level. On the upside, the major level at 1.3700 appears to be a key barrier. If there is a breakthrough above the latter, the bulls could revisit the weekly highs around the 1.3843 level.
Short
by tradingconmike
USD/CAD Daily Analysis - Pullback Before Major Bull Run!?USD/CAD bounced nicely off of 1.36300 for a nice 200+ pip run to the upside. We ended last week with a Daily Pin Bar Bear candle, and DXY (Dollar Index) was in a trading range. Where does that leave us for this week? First, we're in a bull channel which means the probability of profit is in the bull's favor. I am looking for a long entry and have no interest in shorting the Daily chart at this time. Since our last candle was a bear pin bar, that may be an indication that we're entering a minor pullback and should wait until it concludes. The RSI is just above 50.00 and curling down, you may want another test at the 45.00 level before going up. We also have established a minor trend line within the current bull channel with this last bounce. With a good bull signal bar in the 1.37000 area, I would consider entering a long with a stop loss just below the channel bottom and a take profit at the next Weekly previous high of 1.40000. Key Points 1. Bull Channel, Always in Long 2. Last Candle was a bear Pin Bar 3. DXY in Trading Range 4. Look for at least a small pullback before longing. 5. RSI is just above 50.00, wait for a pullback Until we see a minor pullback and bounce, I would wait to long and definitely not short unless it's on the lower timeframes (5m, 15m, 1hr). You are solely responsible for your trades, trade at your own risk! Let us know what you think in the comment section below!
Long
by TraderEngineering
USDCAD SELL | Day Trading AnalysisHello Traders, here is the full analysis. Watch strong action at the current levels for SELL. GOOD LUCK! Great SELL opportunity USDCAD I still did my best and this is the most likely count for me at the moment. Support the idea with like and follow my profile TO SEE MORE. Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 🤝 Patience is the If You Have Any Question, Feel Free To Ask 🤗 Just follow chart with idea and analysis and when you are ready come in THE GROVE | VIP GROUP, earn more and safe, wait for the signal at the right moment and make money with us💰
Short
by TheGrove
6
USDCAD is still continuing its upward momentumSpeaking on Tuesday, a number of hardline Fed members hinted that the economy may be weaker as a result of the tightening of financial conditions since July, which has seen a rise in 10-year Treasury yields of more than 100 basis points. However, it will take more time to determine if this effect is sustained. "Inflation has decreased somewhat, but it is still too high," Dallas Fed President Lorie Logan stated at a Kansas City conference. The fundamental query, in my opinion, is whether the current fiscal constraints are stringent enough to quickly and sustainably raise inflation to 2%. In a speech in St. Louis, Fed board of governors member Christopher Waller referred to the rate move as a “shock” to the bond market, while Michelle Bowman, another
Long
by Chart_MasterPro
USDCAD - Look for a long position ✅Hello traders! ‼️ This is my perspective on USDCAD. Technical analysis: Here we are in a bullish market structure from 4H timeframe perspective, so I am looking for long. I want price to continue the retracement to fill the imbalance lower and then to reject from bullish order block + institutional big figure 1.37000. Fundamental news: Tomorrow will be released Unemployment Rate in Canada, as well it will be NFP day in USA, so pay attention to the results in order to validate the analysis. Like, comment and subscribe to be in touch with my content!
Long
by Snick3rSD
16
USDCAD: Amidst a slowdown in interest rate increases, US marketsU.S. stocks are on track to post their biggest weekly gain this year as investors express optimism that U.S. interest rate hikes will be halted. This also led to higher bond prices and a weaker dollar. The focus now shifts to the US jobs report, which will be released later today. The Federal Reserve's decision to keep interest rates on hold on Wednesday, combined with Chairman Jerome Powell's assertion that risks to the interest rate outlook are balanced, led to a rise in bond yields. The benchmark 10-year Treasury note fell more than 20 basis points in two sessions.
Short
by TrategySherpa
USDCAD LONG POSSIBILITIES Hi guys, In this analysis I will be covering USDCAD. LEVEL 1.3891 has been acting as a resistance and price has already tapped into it multiple times. Should price begin selling off from this level, The first demand level would be 1.3832 and the one after that would be 1.3804. One other scenario is that price breaks through the immediate resistance with a fake out and taps into supply zone which is 1.3925 then starts selling off. One thing we should consider is Federal fund rate which is going to be publish later today and it will heavily impact the market. so be extremely cautious while taking trades on any of these levels. Be honorable
by AliHassanzadeh
USDCAD SELL | Day Trading Analysis With Volume ProfileHello Traders, here is the full analysis. Watch strong action at the current levels for SELL. GOOD LUCK! Great SELL opportunity USDCAD I still did my best and this is the most likely count for me at the moment. Support the idea with like and follow my profile TO SEE MORE. Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 🤝 Patience is the If You Have Any Question, Feel Free To Ask 🤗 Just follow chart with idea and analysis and when you are ready come in THE GROVE | VIP GROUP, earn more and safe, wait for the signal at the right moment and make money with us💰
Short
by TheGrove
6
BluetonaFX - USDCAD Approaching Yearly HighHi Traders! Today is a big day for the USDCAD, and the pair is approaching its yearly high at 1.38623, but before that, the monthly high resistance at 1.37858 must be broken.   Price Action 📊 The market has broken its trendline resistance and is near the monthly high at 1.37858. There is bullish momentum due to the anticipation of hawkish statements from the Federal Reserve. Fundamental Analysis 📰 The US dollar continues to trade strongly amid rising yields and escalating tensions in the Middle East, after US Federal Reserve Chair Jerome Powell stopped short of hinting that US interest rates have peaked. Later, we have statements from both the Bank of Canada and Federal Reserve Chair Jerome Powell. Support 📉 1.36058: PREVIOUS DAY'S LOW 1.30928: YEARLY LOW Resistance 📈 1.37858: MONTHLY HIGH 1.38623: YEARLY HIGH Risk ⚠️ No more than 2% of your capital. Reward 💰 At least 4% of your capital. Please make sure to click on the like/boost button 🚀 as your support greatly helps. Trade safely and responsibly. BluetonaFX
Long
by BluetonaFX