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Usdcadbuy

USDCAD Looking BullishIn the existing downtrend of the USDCAD currency pair, there is a distinct possibility that the exchange rate may approach and test the support level at 1.31142, unless there is a significant breakthrough in market dynamics. The technical analysis of the market structure points towards a potential pullback, implying a temporary reversal in the prevailing downward movement. This setup could be viewed as an opportunity for traders to consider initiating buy positions. Buying at the support level involves anticipating a rebound or a corrective move in the exchange rate. Traders often look for confirmation signals, such as candlestick patterns or other technical indicators, to strengthen the rationale for entering a trade. It's important to note that trading decisions should be made based on a comprehensive analysis of various factors, including technical, fundamental, and market sentiment indicators. Additionally, risk management strategies should be employed to mitigate potential losses in case the market does not behave as anticipated.
Long
by HUMCRYPTOCLUB
USDCAD Could provide a nice bullish move due to CAD CPIThere are several reasons why we could see a bullish move in the USD/CAD currency pair: 1. **Moderating Canadian Inflation**: Multiple sources, including RBC Economics, NBF, and CIBC, suggest that Canadian inflation is expected to moderate in November. This is primarily driven by factors like a drop in gasoline prices, easing food price growth, and a slowdown in core inflation measures. A moderation in inflation can weaken the Canadian dollar (CAD) as it reduces the pressure on the Bank of Canada to raise interest rates, potentially leading to a bullish move in USD/CAD. 2. **Headline CPI within Target Range**: RBC Economics points out that the expected drop in inflation would bring the headline CPI back within the Bank of Canada's target range of 1%-3%. This suggests that there may not be excessive inflationary pressures, which can be interpreted as a positive for USD/CAD bulls. 3. **Economic Backdrop and Interest Rates**: The analysis mentions that further softening in the economic backdrop and slower price growth should reinforce the idea that the Bank of Canada is unlikely to hike interest rates further in the near term. This anticipation of a pause in rate hikes can weigh on the CAD, making USD/CAD more attractive to traders. 4. **Core Inflation Deceleration**: The expectation of continued deceleration in core inflation measures, such as CPI-trim and CPI-median, indicates that underlying inflationary pressures may not be a concern. This can weaken the CAD and support a bullish move in USD/CAD. 5. **Caution Regarding Rate Cuts**: It's worth noting that the central banks, including the Bank of Canada, are expected to be cautious about declaring victory over inflation too early and pivoting to rate cuts. However, the anticipation of an extended pause in rate hikes rather than an immediate pivot to rate cuts can be seen as a positive factor for USD/CAD bulls. In conclusion, the expected moderation in Canadian inflation, the potential return of headline CPI within the target range, the economic backdrop, and the likelihood of a pause in rate hikes by the Bank of Canada, along with continued core inflation deceleration, are factors that could support a bullish move in USD/CAD.
Long
by Wiiso
USDCAD → Fell HARD to 135.000! Will We Bounce Here?USDCAD fell out of the bull channel as predicted from last week's analysis and hit the profit target of 135.500. We are now sitting on the 200EMA with no sign of support, do we short? How do we trade this? 🤔 We do not short! We're on potential support, the RSI is at 32.00, we haven't had a good pullback in 10 bars, best to wait on the sidelines. What we *should* be looking for is a bounce off of the 200EMA as previous price action has shown. With a strong bull signal and confirmation bar closing on or near their highs, it would be reasonable to long at this level. 💡 Trade Idea 💡 Long Entry: 1.35470 🟥 Stop Loss: 1.34655 ✅ Take Profit: 1.37100 ⚖️ Risk/Reward Ratio: 1:2 🔑 Key Takeaways 🔑 1. Breakout of Bull Channel, Bias to Short. 2. Target Short TP at 200EMA 1.35200 Achieved. 3. Look for a test of Daily 200EMA Support. 4. Long if Bull Signal and Confirmation Candle Close. 5. RSI at 32.00, below Moving Average, Supports short-term Short. ⚠️ Risk Warning! ⚠️ Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk! Like 👍 and comment if you found this analysis useful!
Long
by TraderEngineering
5
USD/CAD!! New week for recovery early December✍️ NOVA hello everyone, Let's comment on USDCAD price next week from 4/12 - 8/12/2023 🔥 World situation: The Canadian Dollar (CAD) is currently experiencing upward movement in trading on Friday, once again strengthening against its primary counterpart, the US Dollar (USD). This comes after Canadian employment data surpassed market expectations by a significant margin. Throughout the week, the Canadian Dollar has been one of the best-performing currencies, exhibiting a 1% increase against the US Dollar since Monday's opening rates. In November, Canada witnessed nearly double the number of job additions compared to the median market forecast. Approximately 25,000 new positions were created, surpassing the projected 15,000 and outpacing October's 17,500 new jobs. 🔥 Identify: A week without much important news about CAD, the price is moving towards a fairly strong support zone along with the resistance zone according to FIBONACCY, setting up a BUY signal. 🔥 Technically: Based on the resistance and support areas of the USDCAD price according to the D1 frame, NOVA identifies the important key areas as follows: Resistance: 1.35800 ; 1.37800 Support : 1.34450 🔥 NOTE: Note: Nova wishes traders to manage their capital well - take the number of lots that match your capital - Takeprofit equal to 4-6% of capital account - Stoplose equal to 2-3% of capital account - The winner is the one who sticks with the market the longest
Long
by Nova-Scalper
1
USDCAD: The US dollar faces a weekly decline as inflation easesThe US dollar faces its biggest weekly decline in months against the euro, yen and franc. This comes after investors began selling in anticipation of a near 100 basis point interest rate cut in the United States expected next year. By Friday, the dollar had fallen 1.6% from a week earlier, trading at $1.0854 against the euro, its steepest decline since mid-July. For the week, it fell 1.6% to CHF 0.8882, and against the yen it fell 0.6% to CHF 150.53. Oil prices hit a four-month low on Thursday, and Walmart (NYSE:WMT) also announced price cuts, adding to deflationary pressures. This week's data showed U.S. consumer prices stabilizing, convincing investors that inflation is falling and the days of rising interest rates are over. Weak US economic data released on Thursday also supported this view. Futures markets are currently pricing in a 98 basis point (bp) rate cut by the Federal Reserve next year, up from 73 basis points a week ago. Peter Dragicevic, strategist at cross-border payment company Copay, comments on the situation. He said the degree of mitigation being considered looked positive, but the direction was correct. He added that the momentum of US inflation is changing and the negative effects of past monetary tightening are beginning to show. With the Fed's next easing cycle looming, Dragicevic expects the US dollar to weaken gradually over the next few quarters as US yields fall and US growth recovers.
Long
by Chart_MasterPro
USD/CAD Daily Analysis - Pullback Before Major Bull Run!?USD/CAD bounced nicely off of 1.36300 for a nice 200+ pip run to the upside. We ended last week with a Daily Pin Bar Bear candle, and DXY (Dollar Index) was in a trading range. Where does that leave us for this week? First, we're in a bull channel which means the probability of profit is in the bull's favor. I am looking for a long entry and have no interest in shorting the Daily chart at this time. Since our last candle was a bear pin bar, that may be an indication that we're entering a minor pullback and should wait until it concludes. The RSI is just above 50.00 and curling down, you may want another test at the 45.00 level before going up. We also have established a minor trend line within the current bull channel with this last bounce. With a good bull signal bar in the 1.37000 area, I would consider entering a long with a stop loss just below the channel bottom and a take profit at the next Weekly previous high of 1.40000. Key Points 1. Bull Channel, Always in Long 2. Last Candle was a bear Pin Bar 3. DXY in Trading Range 4. Look for at least a small pullback before longing. 5. RSI is just above 50.00, wait for a pullback Until we see a minor pullback and bounce, I would wait to long and definitely not short unless it's on the lower timeframes (5m, 15m, 1hr). You are solely responsible for your trades, trade at your own risk! Let us know what you think in the comment section below!
Long
by TraderEngineering
USDCAD is still continuing its upward momentumSpeaking on Tuesday, a number of hardline Fed members hinted that the economy may be weaker as a result of the tightening of financial conditions since July, which has seen a rise in 10-year Treasury yields of more than 100 basis points. However, it will take more time to determine if this effect is sustained. "Inflation has decreased somewhat, but it is still too high," Dallas Fed President Lorie Logan stated at a Kansas City conference. The fundamental query, in my opinion, is whether the current fiscal constraints are stringent enough to quickly and sustainably raise inflation to 2%. In a speech in St. Louis, Fed board of governors member Christopher Waller referred to the rate move as a “shock” to the bond market, while Michelle Bowman, another
Long
by Chart_MasterPro
USD/CAD Weekly Analysis - Bull Breakout to 1.40!USD/CAD has finally broken out of the bear channel/bull flag and closed near its high on the Weekly chart. Current price is at 1.38750 with a nice gap to fill at the bear channel high of 1.40000. This is an ideal Daily or Weekly scalp, placing your stop below the channel top of 1.37000 or the Weekly 9EMA. That creates a Risk/Reward Ratio of 2:1, which means your position size needs to be sized for your maximum loss for your account size. (Examples Below) Key Points: 1. Weekly candle closing near its high 2. Weekly candle closed well above the Bear Channel 3. Gap between current price and channel high 4. RSI has room to move up 5. Scalp the gap between the current price and 1.40000 A weekly candle closing near its high after a breakout is a strong bull signal. The price has a gap to fill, and the RSI has room to move up. The RSI is a weak indicator on its own, but coupled with the other data points, it aids the conclusion. It's reasonable to scalp the gap on the Daily or Weekly charts. See the rationale below. Trading Rationale Let's say you have a $10,000 account and you apply the 2% rule of trading, where your maximum loss on any trade is 2% of your total account equity. In this case, $10,000 x 2% = $200. Therefore, a scalp on this chart should render a loss no greater than $200 and a reward of $100. A scalp is justified in this case because our probability of success is likely higher than the general 40-60 rule, which states that the probability the market will move the same distance in either direction is between 40%-60%. In the 40%-60% scenarios, a 1:2 Risk Reward ratio means your probability of making money is positive. When we have a strong breakout like USD/CAD, the probability of a continuation gets closer to 80%-90%. We can afford to extend our risk because the probability is so high. The simple math is if you ran this trade 10 times and hit your Take Profit on 8 of them (80%), you would win $800 and lose $400, a total profit of $400. Therefore, this is a reasonable trade. As always, trade at your own risk, you are responsible for your trades. I hope this analysis was insightful and useful. Trade wisely and let us know what you think in the comment section below!
Long
by TraderEngineering
USDCAD Buyers Are Strong? {26/10/2022}Educational Analysis says USDCAD may go long according to my technical. This is not an entry signal. I have no concerns with your profit and loss from this analysis. Why long? Broker FXCM. After Ranging on the daily timeframe, A 4-hour time frame Made a Recent Upward Impulse Move that broke recent resistance and went for a new high, Long setup after eating stop loss from Short Sellers, Because USDCAD fair value gaps are unfilled in a 4-hour time frame. The last Analysis is jointly connected in this updated one. So, trade is already on with RR is 1: 22.01 I HAVE NO CONCERNS WITH YOUR PROFIT OR LOSS. Happy Trading, Fxdollars.
Long
by VishalBudhrani