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Usdcadanalysis

USDCAD Long Term selling Trading IdeaSep 25 Hello Traders In This Chart USDCAD HOURLY Forex Forecast By FOREX PLANET today USDCAD analysis 👆 🟢This Chart includes_ (USDCAD market update) 🟢What is The Next Opportunity on USDCAD Market 🟢how to Enter to the Valid Entry With Assurance Profit This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Charts
Short
by ForexPlanet20
UsdCad- Constructive price action after 1.34 testRecently, UsdCad dropped under 1.35 support just to test the next important support from 1.34. Since that low on 20 September, the pair started to rise again and now is trading back at the old support now resistance and important 1.35 figure. The rise is painting an ascending triangle on our chart and this usually means up continuation. A break above resistance would bring confirmation and the pair could rise back to test the 1.3650 zone. A drop under 1.3450 would put the pair in a range trading mood.
Long
by Mihai_Iacob
18
USDCAD END-WEEK ANALYSIS-UPDATE 24/09/2023USDCAD Insight: Pursuing an Upside Path - Bridging Daily Imbalances USDCAD, a market characterized by its inverse connection with EURUSD, is presenting an intriguing scenario. Our prior forecast of a potential recovery proved accurate, but in the dynamic world of forex, we're now positioning for the next phase. Currently, I'm focused on the prospect of USDCAD continuing its upward trajectory to address the daily imbalance. Following a recent minor decline, we anticipate a significant upward move in tandem with DXY, under the condition that DXY maintains its price above 105.864. Join me as we navigate these forex dynamics. Stay tuned for the unfolding narrative! 📈📉 #USDCADInsight #ContinuationUpside #TradingView
Long
by Dion-FX
USD/CAD Gains Traction as US Data Supports, Government ShutdownUSD/CAD Gains Traction as US Data Supports, Government Shutdown Averted The USD/CAD pair is starting the week on a positive note, with the spot price trading around 1.3580 during the early Asian session on Monday. This upward movement is primarily attributed to the strength of the US Dollar (USD), supported by moderate economic data released on Friday. The US Dollar Index (DXY) is maintaining its ground and continues to gain strength during the second trading session. This comes after the release of moderate datasets from the United States (US). The spot price for DXY is currently around 106.20. Furthermore, the upbeat performance of US Treasury Yields is contributing to the USD's strength. The yield on the 10-year US Treasury bond is at 4.61%, up by 0.96% at the time of writing. One significant factor supporting the USD/CAD pair is the positive sentiment surrounding the US Dollar following the release of economic data on Friday. The US Michigan Consumer Sentiment Index for September improved to 68.1, surpassing expectations and the previous figure of 67.7. In addition to this, the US Core PCE Price Index for August showed a year-on-year increase of 3.9%, which was in line with estimates and slightly lower than the previous reading of 4.3%. The Core PCE on a monthly basis (MoM) indicated a softer reading of 0.1%, as opposed to the market consensus of remaining at the previous 0.2%. Another contributing factor to the USD's upward trajectory is the successful passage of bills in the US to avert a government shutdown. This move secured funding until November 17, providing stability and confidence in the US Dollar. Conversely, the Canadian Dollar (CAD) faced downward pressure due to disappointing Gross Domestic Product (GDP) data for July. The GDP remained flat at 0.0%, falling short of market expectations for 0.1% growth. Furthermore, June saw a contraction of 0.2% in GDP. The decline in crude oil prices over the past week also weakened the Canadian Dollar. Oil prices, which had reached one-year highs, retreated due to concerns about the Federal Reserve's interest rate trajectory. Canada, being the largest oil exporter to the United States, is particularly sensitive to oil price fluctuations. However, it's worth noting that Western Texas Intermediate (WTI), the US crude oil benchmark, is attempting to reverse its recent losses, currently trading around $90.10 per barrel. Traders are keeping an eye on the upcoming release of the US ISM Manufacturing PMI for September and a speech by Fed Chair Jerome Powell, both scheduled for Monday. Additionally, the S&P Global Manufacturing PMI for Canada in September will be closely monitored by market participants. Our Previous Forecast 27 Sept. Today 2 Oct. Short-Term Setup: Our preference Long positions above 1.3525 with targets at 1.3625 & 1.3650 in extension.
Long
by FOREXN1
7
USDCAD: Thoughts and AnalysisToday's focus: USDCAD Pattern – LH Resistance Point Support – 1.3441 Resistance – 1.3515 Hi, and thanks for checking out today's analysis. The USDCAD daily is today's focus, and it held up rather well after oil blasted higher yesterday. With the USD maintaining its run, this has kept things in check. Despite that, we still saw a failed high from buyers that have maintained a level of resistance. Will we see sellers continue to push after yesterday's session? If they can, we will look to support as a point of short-term resistance. A new move higher by buyers is also part of the play due to the last rally. With a break above resistance with the USD and oil supporting, we will look towards longs. A hold by sellers, look more for moves back down to test support and or the main trendline. Indicator-wise, the moving average continues to slope down, and the RSI has dipped below the 50 point. These favour sellers but are secondary to price. Good trading.
by Eightcap
USDCAD Long Term buying Trading IdeaHello Traders In This Chart USDCAD HOURLY Forex Forecast By FOREX PLANET today USDCAD analysis 👆 🟢This Chart includes_ (USDCAD market update) 🟢What is The Next Opportunity on USDCAD Market 🟢how to Enter to the Valid Entry With Assurance Profit This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Charts
Long
by ForexPlanet20
USDCAD: Monthly, Weekly & Daily Analysis The USDCAD presents three scenario. Upon analyzing the Monthly Chart, we discern the formation of a triple top pattern at the significant level of 1.4100. Moving to the Weekly Chart, we observe that the currency pair has already encountered resistance at 1.3700 and is currently retracing towards its support level at 1.3140. Lastly, in the Daily Chart, a clear uptrend is evident, with the price finding support on July 12, 2023, at 1.3125 and now poised to ascend towards the resistance level at 1.3800. These carefully analyzed indicators demonstrate the potential for a favorable trading opportunity in the USDCAD. Kindly share your thoughts and opinions in the comment section. Your valuable insights are greatly appreciated.
by FKW-Millions
2