USDCAD BearishI have mentioned all the important resistance levels, where we may see sell opportunity on it. I think we do not have to look buying opportunity on it, just sell.
Usdcadanalysis
DeGRAM | USDCAD break and close above the strong levelUSDCAD is currently trading in an ascending channel.
The market made higher highs and higher closes. It broke and closed above the resistance that was tested twice.
Price is coiling up before breaking through the level. We anticipate a retest of the major resistance and bullish move.
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USDCAD - Bullish?OANDA:USDCAD
I entered a buy position on USDCAD at the pullback to the swing discount, targeting the old high on 4H.
Why the old high?
Above the old high there is a weekly FVG.
Reason Behind The Buy?
Price created a swing low on the weekly time frame right at the the weekly order block serving as support for price.
So, I expect price to bounce off weekly level to fill the FVG above, which is the external liquidity.
Price already took liquidity from the old lows.
Those are my thoughts behind the trade.
USDCAD Trade IdeaUSDCAD wi;; come back to test the trendline again, place your buy orders then.
Manage your risk accordingly!
USDCAD: What will happen next?The USD/CAD pair is hovering around 1.3175-80 after experiencing its largest daily decline in eight days. This decline can be attributed to the drop in WTI crude oil price, which is Canada's main export, as well as the stronger US Dollar. The market activity on Tuesday morning in Asia has been slow.
usdcad scalpthere is a good demand zone south the price and I think it would make the price react to it
USDCAD Analysis 23July2023the D1 trendline as a strong support area is still untouched and the price looks bullishly corrected.
the possibility that what will happen is the price approaches the SR Flip area and falls back to the trendline support area and then continues its bullish trend.
USDCAD: Technical Profits Await (SELL)On Weekly Bearish, market has been bearish. And this sets the bias we will be looking for which is the sell side.
On the daily chart, Price has just broken a level that has been tested multiple times in the past.
The 4hours is a little bit more interesting because we might see being rejected by: Support now turned resistance, Trend line that has held for a very longtime and the MA. which is a perfect confluence . It's all about probability
This is a good probability setup
USDCAD: stuck in a narrow range!Earlier today, the Japanese Government released updated forecasts, revealing that consumer inflation is expected to reach 2.6% in the current fiscal year. This is an increase from the previous forecast of 1.7% in January, and it surpasses the Bank of Japan's target of 2%. Additionally, the Government revised the economic growth forecast for the current year to 1.3%, down from the initial projection of 1.5% in January. It is anticipated that inflation will fall below the Bank of Japan's target range in 2024, with a forecasted rate of 1.9%.
USDCAD - Short after filling the imbalance ✅Hello traders!
‼️ This is my perspective on USDCAD.
Technical analysis: Here we are in a bearish market structure from 1H timeframe perspective, so I am looking for short. I want price to go a little bit higher to take liquidity above equal highs and to fill the imbalance, then to reject for a short position.
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USDCAD ABCD PatternUSDCAD completed ABCD pattern and now we can see the retracement from point D.
Manage your risk according to your account size.
USDCAD Analysis H1Here is my analysis for USDCAD on H1 using Order Block. The price could go bearish, you can put a pending order on the Order block or find an entry on LTF within OB Zone. Trade Safe!
USDCAD Aanalysis UpdateAfter parallel channel breakout nor USDCAD is at strong support zone that tested multiple time, hopefully we can see upside rally from this point.
Manage your risk acccording to the account size!
USDCAD: Today!The USD/CAD exchange rate is uncertain around the 1.3170-80 level early on Wednesday morning in Europe. Although the downtrend has paused for now, traders are still looking for more evidence to support buying the Canadian dollar against its US counterpart, especially after a slow Asian session.
On one hand, Canada's inflation numbers were disappointing, while the US Retail Sales data and a decline in WTI Crude Oil prices (Canada's main export) may attract buyers of the USD/CAD pair. On the other hand, positive market sentiment and concerns about the Federal Reserve's dovish stance are likely pushing the exchange rate higher.
USDCAD Channel Breakout TradeUSDCAD moving in parallel channel waiting for breakout to trade.
Manage your risk according to account size!
USDCAD Top-down analysisHello traders, this is a complete multiple timeframe analysis of this pair. We see could find significant trading opportunities as per analysis upon price action confirmation we may take this trade. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
USD/CAD: Potential swing trade shortWe outlined a bearish bias in a previous USD/CAD article which clearly did not play out, thanks to hawkish comments from Fed members, hawkish FOMC minutes and stronger economic data for the US. However, a strong Canadian employment report on Friday has now seen odds shift in favour of a 25bp BOC hike this week – and if that is to be coupled with a soft(er) than expected US inflation report, perhaps we’ll finally see that swing trade short play out after all.
A 3-wave rally has stalled at the 50% retracement level and 50-day EMA to suggest a swing high is in place. We’ve seen a minor attempt to retrace within Friday’s range during Asian trade (and a higher retracement would be welcomed to help improve the potential reward to risk ratio).
Assuming momentum has realigned with the bearish daily trend, a move towards (and break beneath) the June low on its way to 1.3000 is now in focus.
DeGRAM | USDCAD divergence at the strong supportUSDCAD decelerated while approaching support, then bounced off it following the divergence.
Price bounced off the psychological level of 1.31000. If you look left, the last time the price dropped from the resistance, it pulled back after the divergence.
We anticipate the same price action and a retest of the resistance.
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USDCAD SELLSVery much still in a down trend and has pulled back and rejected to around the 50% fib level, now waiting for break below previous level and signs of continuation on the 15m to look for sells
USDCAD SHORT - CONFIRMATION SOON!Waiting for a retest of 1.32050 or 1.32773 to short USDCAD back to 4H swing lows at 1.30927
If you agree drop a like and if you have any questions leave a comment :)
USDCAD | Might get a strong pull back.Friends, please support this idea with a BOOST if you find it useful.
Might get a strong pullback even if it is uptrend in higher time frames.
Reason:
- The price is now trading near a strong resistance area .
- Weaker support to the downside.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
USDCAD FX:USDCAD
What Next For Usdcad In The 3rd Week Of July?
Weekly Bias:
To understand and know what the weekly bias is or will be, one has to take into considerations all the previous and current price action activities within our current price range.
Bullish Supporting Sentiments:
Major Range= Bullish
Price At Discount level
Price At Bullish OB
Week Candle Close: Shows Bullish Reaction at OB
Price Movements: Price has been respecting the bullish range order blocks mid-threshod for two years now.
Liquidity Draw:
FVG Above Current Price
3 Old Highs
2 Equal Highs
Bearish Bias Supporting Sentiments:
Minor Range= Bearish
Reaction off bearish fvg
Liquidity Draw= Old Lows
Possible liquidity grab below old lows to take out sellside liquidity before continuing the bullish move.
Summary:
Price has more reason to be bullish in the 3rd week of July and comings weeks than bearish.
There are two main reason price might be bearish in coming weeks, which are either for a sellside liquidity grab or complete reversal of the trend.
However, I will be favouring buys for now till there is a complete shift in market structure.
What do you see on your charts?
Drop your comments.
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USDCAD Analysis H1Here is my analysis for USDCAD on H1 using Order Block. The price could go bearish, you can put a pending order on the Order block or find an entry on LTF within OB Zone. Trade Safe!
