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Usdcadbuy

Failed breakout for the USDCAD, waiting for the next oneThe dollar cad finally broke out of its consolidation range this week but fell straight back into it later in the week. It is now trading at the bottom of the consolidation range again and we will be looking at a long entry. It is less likely that this coming rally will be a fake out since, the institutions already caught some fish the last time round. These levels are good for a long but we could move down farther from here to take out some longs at 1.263.
Long
by IkanBilisCapital
Breakout of range coming for the USDCAD. It's been a painful week looking at the dollar cad trade within this tight range but hang out tight, a breakout is coming sooner than you will expect. Price may continue to trade in a range within the channel but expect to see a break out soon! If you're not already in the long, you can consider placing one at these levels and a stop loss at the 1.266 level otherwise you can take one of the two strategies. 1. Wait for price to breakout of the range and enter on the pullback 2. Enter when price tests the bottom of the range
Long
by IkanBilisCapital
USD/CAD Forecast: Dollar Finds Buyers Against LoonieAt this point, it looks as if the 50 day EMA is trying to offer a bit of support, and for my money I think that we will eventually try to make a break higher to go looking towards the 1.28 handle. Breaking above that level would be very bullish, perhaps opening up towards the 1.30 level above. All things been equal, this is a market that I think continues to see choppy behavior but that is not uncommon for this pair due to the fact that the two are so highly correlated with each other in the sense that they are each other’s biggest trading partner. Speaking of trading partners, a lot of the commerce between the two countries is at a standstill currently, simply due to the truckers protesting. As this continues to unfold, that could have a detrimental effect on the Canadian economy, while causing a minor problem for the Americans. Quite frankly, although Canada has a very robust commodity-based economy, the reality is that the majority of the damage economically will be north of the border, as Canada has to import so many things from the United States. While this has not necessarily been factored in quite yet, this is a narrative that could grab the headlines.
Long
by SmoothJB
1
USD/CAD 4HR SELL AND BUY SET UPS???Hi TRADERS this is my trade set up for the USD/CAD for the new week ahead USD/CAD Is coming to rejection area again, I am looking at two scenarios 1st it gets rejected from resistance area after touching a few times in the past so would be sell only or 2nd scenario it breaks through the resistance area for a strong push up so we will be buying only clean crisp charts I hope it helps if you have any questions please private message me good luck for this weeks trading please follow like and comment thanks
by Costy13
5