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Usdcadanalysis

USDCAD | LT Short D1 | Oil to power CAD StrengthPair: FX:USDCAD Timeframe: D1 - Long Term (LT) Direction: Short Technical Confluences for Trade: - Stochastics are in Overbought Conditions on D1, H4 and H1 time-frames - Price action is at the top-end resistance of a parallel channel - Horizontal trendline looks like a supply zone across few periods - Aiming for the 32.8% Fibo Retracement with 23.6% as the TP 1 level Fundamental Confluences for Trade: - A strong oil story from ongoing geopolitical risks is a strong story for CAD's economy to remain their hold on interest rates while US's reflation story has been priced in by markets - Risk is further war escalation from the Israel-Iran tension which continue the rush to safe-havens like USD or JPY. Suggested Trade: Entry @ Area of Interest 1.3750 - 1.3850 SL @ 1.3898 TP 1 @ 1.3640 (TP Half-Position & move SL to Entry level for B/Even once TP1 is achieved) TP 2 @ 1.3567 Risk-to-Reward @ Approx. 2.08 (Depending on Entry Level) May the pips move in our favor! Good luck! :D *This trade suggestion is provided on an advisory basis. Any trade decisions made based on this suggestion is a personal decision and am not responsible for any losses derived from it.
Short
by weekendanalyst
8
USDCAD is Ready to Go Up(➡️RR=2.48)🏃‍♂️ USDCAD is moving in a Descending Channel and is currently near the Uptrend line and🟢 Support zone(1.3704 CAD_1.3618 CAD) 🟢. 💡Also, we can see Regular Divergence(RD+) between two Consecutive Valleys . 🔔I expect USDCAD to rise to at least 1.384 CAD after breaking the upper line of the descending channel. -------------------------------------------------------------------------- USDCAD 🟢Position: Long ✅Entry Point: 1.37163 CAD (Limit Order) ⛔️Stop Loss: 1.36660 CAD 💰Take Profit: 🎯1.38047 CAD👉Risk-To-Reward: 1.76 🎯1.38411 CAD👉Risk-To-Reward: 2.48 ⚠️Please don't forget to follow capital management. ⚠️Please pay attention to the style of opening the position. -------------------------------------------------------------------------- U.S.Dollar/Canadian Dollar (USDCAD), 1-hour time frame ⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy; this is just my idea, and I will gladly see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe
Long
by pejman_zwin
3
USD/CAD Sell Trade Analysis: Exploring Short OpportunitiesThe USD/CAD currency pair presents an intriguing opportunity for a sell trade, with technical indicators suggesting a potential downward movement in price. Technical Analysis: Resistance Level: The pair is currently approaching a significant resistance level, which has historically acted as a barrier to further upside movement. This resistance level indicates a potential area for initiating a sell trade. Trade Recommendation: Entry: Consider entering a short position as the price approaches the resistance level, ideally after confirmation of bearish price action such as a bearish engulfing candlestick pattern or a rejection from the resistance level. Stop Loss: Place a stop loss above the resistance level to manage risk in case of a breakout. Target: The initial target could be set at a support level or a previous swing low, with potential for further downside if the bearish momentum strengthens. Disclaimer: Trading forex involves substantial risk of loss and is not suitable for all investors. The analysis provided here is for informational purposes only and should not be construed as investment advice or a recommendation to trade. Always perform your own due diligence and consult with a qualified financial advisor before making any investment decisions. Past performance is not necessarily indicative of future results. Trading carries risks, and it's essential to only trade with capital you can afford to lose.
Short
by Maven_Trader24
USDCAD Could move 1,064pips up the next month.The reasons why I strongly believe this move will happen are the following: According to the CFTC non-commercials are shorting CAD. Non-commercials have 20,388 positions long and 68,914 positions shorts. This means that they are selling more CAD than they actually buying it. According to this info we could expect a move to the upside. From a monthly perspective there is plenty of buy side liquidity in USDCAD. If you look at the chart you will see two blue circles and a dollar bill between them . Those highs have not been liquidated yet. The price is aggressively chasing those highs. According to the explanation provided the price is extremely bullish because is moving to a strong liquidity area. From monthly perspective the price already liquidates sell side liquidity. If look at the chart you will see a yellow circle . The yellow circle represents the sell side liquidity that was liquidated by the price. The price has bullish structure. The price is making higher highs will doing so liquidating sell side liquidity. There is a lot of optimists about the dollar getting stronger in the near future. DXY has bullish structure. The DXY is currently making a retracement. It is currently at 50%. We could assume that is very close to be ready because it took sell side liquidity as well. In other words, the CAD is getting weaker and the USD stronger.
Long
by Wiiso
2
Will The Loonie SELL OFF Again, Or Break Up to 1.40??The Loonie has been hovering between 1.31 and 1.39 for the past two years, and we're quickly approaching the upper boundary of this weekly range. Will there be another sell-off? Let's dive into what the price charts reveal. We're riding a 17-week uptrend on the weekly chart, with last week's candle showing an especially bullish move—over 200 pips—pushing us near the top of the range. Historically, the final push to the range's peak tends to be the most bullish, as shown in the chart below. This pattern suggests that it might be a good time to consider selling once the right signal appears. On the daily chart, we see a similar pattern: the last leg up to the range top is usually the most significant. Below is the sell zone chart, indicating where I plan to look for sell signals between 1.38 and 1.39 using my TRFX indicator. I anticipate that the market will reach this sell zone in the next few days. Then, I'll wait for a sell signal on the 4-hour charts or higher. The target for this trade is the bottom of the range at 1.31. Based on past patterns, the price should drop to this level fairly quickly. This trade idea would be void if there's a clear break and a weekly close above 1.39. If that happens, expect a move up to the significant monthly SUPPLY/SELL zone starting at 1.40. Would love to hear your thoughts in the comments below
Short
by TheFxAce
10
USDCAD I Correction of recent bullish impulse in progressWelcome back! Let me know your thoughts in the comments! ** USDCAD Analysis - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support!
Short
by BKTradingAcademy
UsdCad- New rise to 1.39?Towards the end of last year, FX:USDCAD found itself testing the crucial support zone at 1.32. Subsequently, the pair reversed its course and, as of the beginning of February, has been consistently forming higher lows on our daily chart while pressing the significant resistance level at 1.36. I anticipate that this resistance will ultimately be breached, paving the way for a rise towards 1.39. My bullish stance on this pair remains intact as long as the sequence of lower highs is not violated.
Long
by Mihai_Iacob
USDCAD SELL | Idea Trading AnalysisHello Traders, here is the full analysis. I think we can soon see more fall from this range! 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
2
SELL TRADE SETUP ON USDCADHey Traders, Check out this technical analysis on USDCAD; it appears to be undergoing a small pullback, potentially indicating a rejection from the previous resistance area. provided that the resistance are is broken then we can assume for the continuation of the bullish momentum However, I would recommend waiting for a proper retest of the broken key level before considering a buy-trade entry. Alternatively, there may be an opportunity for a sell trade if the market breaches the evident support area. Keep a close eye on this.
Short
by Adefxc
Wyckoff Higher Timeframe Distribution Schematic 12M/6M timeframe is a possible distribution Schematic that I think is currently in phase B. Phase C,D and E are yet to form. We shouldn't trade a distribution schematic till phase E but if a distribution Schematic 1 forms then we can trade phase C once a UTAD has been created(still risky and should wait for phase E as this is a more conservative approach). If no UTAD then wait for phase E as you would have had more confirmation and without this you would be guessing the top.
Short
by DTalcob