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Usdcadanalysis

USDCAD LONGWe are currently looking for buying opportunities on USDCAD. This is because the pair has become bullish on multiple time frames. We also see a breakout of a daily time frame trendline. When we look left, we can see the pair has been largely bullish but in recent weeks and months we have seen a lot of correction and sideways movements. Could this be the trendline breakout that might send USDCAD higher? Only time will tell. We will be looking to enter this trade and hold the position for the next 3 to 4 weeks at 2% risk per trade.
Long
by NDOBObanks
1
USDCAD - LT/MT Idea!CAD - LT/MT Idea! We have a lot of dollar buying end of flows, end of month. We saw that in most of the majors shifting. What's really key to me is we are seeing US data take a hit US indices, it is time to take into consideration what could happen next with the FX majors. Here's a glimpse of what I think of CAD: This chart is based purely on Technical aspect. Currently we within the ranges - Highs: 1.37355 & Lows: 1.32485 A break of highs, we could be forming the pattern W / Break out of wedge/triangle formation Target areas: 1.38885 & 1.41290 A break of the lows, we break below 50EMA + break out of pattern takes us to 200 EMA + TL Target areas: 1.30270 & 1.27955 Take into consideration of other FX minor pairs such as CADCHF - Stuck within range, ready to break! There are great opportunities out there for us traders to take advantage, of. Trade Journal
by Trade_Journal
USDCAD - FUNDAMENTAS WITH TECHNICAL LEVELS#USDCAD USDCAD is now quite BUY. The dollar started to strengthen slightly because of the short-term POSITIVE SENTIMENT for the dollar. Because it came with the NFP REPORT. The dollar weakened slightly after the FOMC last time. But the FED can raise the RATE HIKE or their CEILING RATE whenever necessary. Anyway, it was mentioned in the previous MEETING that the FED is still MONITORING INFLATION DATA. We think it will go up to the 1.4000 level before going down again. Also, with this MARKET RISK ON SENTIMENT, USDCAD PRICE can SELL to 1.3531 LEVEL in the future before BUY. FOLLOW THE STRUCTURE GIVEN.
by benny_marshall
USDCAD Trading Plan - 7/Mar/2023Hello Traders, Hope you all are doing good!! I expect USDCAD to go Down after finishing the correction. Look for your SELL setups. Please follow me and like if you agree or this idea helps you out in your trading plan. Disclaimer: This is just an idea. Please do your own analysis before opening a position. Always use SL & proper risk management. Market can evolve anytime, hence, always do your analysis and learn trade management before following any idea.
Short
by For3xScalper
Battle of the Bankers: USD/CAD in FocusThe USD/CAD might be a popular pair to trade this week with the Bank of Canada (BoC) releasing its latest interest rate decision at the exact same time that US Federal Reserve Chairman begins the second day of his Semiannual Monetary Policy Report to Congress. These events coincide at 10am Wednesday (EST). The Bank of Canada is expected to maintain its interest rate at 4.50%. In its previous meeting, the Bank announced its eighth consecutive rate increase but also mentioned that it would take a break to observe the economy's response to higher borrowing costs. The Bank stated that it plans to keep the policy rate at its current level while assessing the effects of the cumulative rate hikes if economic developments align with the Monetary Policy Report outlook. However, this pause is subject to change, and the strong job numbers for January, which indicated the addition of 150,000 jobs, as well as resilient consumer spending could persuade the Bank to opt for a rate hike instead of a pause. If the BoC fails to surprise, it might be what it signals for its meeting next month that becomes the more interesting focal point on Wednesday. Jerome Powell, the US Federal Reserve Chair, is scheduled to testify before the Senate Banking Committee and House Financial Services Committee on Tuesday and Wednesday morning. During these hearings, he is expected to face tough questions regarding inflation and potential future interest rate increases. This will be Powell's initial testimony since the Republican Party gained control of the House. Furthermore, on Friday, the February US Non-Farm Payrolls report is predicted to reveal the creation of 200,000 jobs in the previous month. This marks a deceleration in job growth compared to January's surprising surge, which added 517,000 jobs to the economy in the first month of the year.
by BlackBull_Markets
USDCAD : Short Trade , 4hHello traders, we want to check the USDCAD chart in the 4-hour time frame. After moving in an ascending channel, the price has reached the specified resistance level, and this level has prevented the price from continuing to grow, and the price has fallen from this level, and the ascending channel has moved towards The bottom is broken. In order to be more sure that the price has a downward trend, the price must be able to break 1.35700 downwards, and if the bottom of this level stabilizes, we expect the price to fall to around 1.34700. Good luck.
Short
by mrAT_Trader
4