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.
Usdcadforecast
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.
USD/CAD continues to move higher amid a broad sell-off in commodUSD/CAD continues to move higher amid a broad sell-off in commodity-related currencies.
The Canadian dollar remained near 1.35 per USD, as investors were monitoring the latest developments on the monetary policy in both Canada and the United States. The bets increased that the Bank of Canada may be forced to resume its hiking campaign after data showed inflationary pressures remain elevated. Consumer prices rose by 4.4% annually in April, well above market estimates of 4.1% and breaking the streak of 10 consecutive months of slowing inflation amid sharp increases in mortgage costs and rent. Also, in the US, comments from several Fed officials raised expectations that the rates would remain higher for longer. Fed’s Bullard suggested the possibility of raising rates by another half-point this year, while Fed's Kashkari described the decision to pause or hike rates in June as a close call.
Canada’s government budget deficit widened to CAD 44.4 billion in March 2023, from CAD 25.7 billion in the corresponding month of the previous year. Revenues decreased by $1.8 billion, or 4.5 percent, largely reflecting the one-time Grocery Rebate announced in Budget 2023. Program expenses excluding net actuarial losses were up $15.7 billion, or 25.3 percent, largely reflecting higher provisions for contingent liabilities and loans, and increased transfers to other levels of government. Public debt charges were up $1.3 billion, or 53.3 percent, reflecting higher interest rates. Net actuarial losses were down $0.1 billion, or 9.3 percent. The government posted a budgetary deficit of CAD 41.3 billion for the April to March period of the 2022-23 fiscal year, compared to a deficit of CAD 95.6 billion reported for the same period of 2021-22.
A successful test of the resistance at 1.3640 will push USD/CAD towards the next resistance level at 1.3665. If USD/CAD climbs above this level, it will move towards the resistance at 1.3695.
R1:1.3640 – R2:1.3665 – R3:1.3695
S1:1.3600 – S2:1.3565 – S3:1.3530
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: 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.
Like, comment and subscribe to be in touch with my content!
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!
USD/CAD Navigating Sideways Trading and Bearish MomentumThe USD/CAD pair has been exhibiting a bearish trend, and technical momentum remains unfavorably oriented for the USD. The recent attempts at a recovery from around 1.3100 were met with resistance near the 20-period daily Exponential Moving Average (EMA) at 1.3230. This suggests selling pressure and a potential continuation of the downside move.
Fundamentally, the US Dollar has been weak due to a lack of supportive fundamentals, including subdued retail demand and the Federal Reserve's ongoing fight against inflation through interest rate hikes. On the other hand, the Canadian Dollar has shown some strength, supported by easing inflationary pressures in Canada, which allows the Bank of Canada to keep interest rates steady.
TRADE IDEA DETAILS
CURRENCY PAIR: USD/CAD
CURRENT TREND: Bearish
TRADE SIGNAL: Sell
👉ENTRY PRICE: Approximately 1.3220
✅TAKE PROFIT: Around 1.3077
❌STOP LOSS: Near 1.3265
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.
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 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 H1Here is my analysis for USDCAD on H1 using Order Block. The price could go bullish, you can put a pending order on the Order block or find an entry on LTF within OB Zone. Trade Safe!
USDCAD Potential Breakout TradePotential Breakout trade on currency pair USDCAD, place Buy Stop and Sell Stop Orders or wait for Breakout.
Manage your risk accordingly.
USD-CAD - 4h - SHORT SETUPUSD-CAD looks nice for a short setup, but first, we need a break of support zone at 1.32659 (pointed white line ) and confirmation on 15min tf to enter in this short setup.
USDCAD Top-down analysis Hello 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.
Usdcad Weekly DemandAs we can see Usdcad at Strong Weekly Demand Zone
Also High imbalance in Buying Candles so I'm expecting to Fly Usdcad
USDCAD BUYHello, according to my analysis of the USD pair, there is a high probability of an upside. With the price breaking the descending channel. Also break a strong model with a double button. Good luck everyone
USD/CAD Faces Resistance at 1.3300 Amid Market CautionThe USD/CAD currency pair encountered strong resistance around the 1.3300 level during the New York session. This resistance was influenced by factors such as a cautious market sentiment, negative expectations for second-quarter corporate earnings, and a decline in the US Dollar Index (DXY) despite the anticipation of interest rate hikes. Additionally, the Canadian Dollar received support from rising oil prices, further impacting the currency pair's dynamics.
Market Analysis:
The S&P500 is expected to open on a negative note as investors adopt a cautious approach, considering the upcoming corporate earnings season. The anticipation of subdued earnings is primarily attributed to the Federal Reserve's decision to raise interest rates and the tightening credit conditions implemented by commercial banks. These measures aim to maintain asset quality amidst a potentially turbulent economic environment.
TRADE IDEA DETAILS
CURRENCY PAIR: USD/CAD
CURRENT TREND: Bearish
TRADE SIGNAL: SELL
👉ENTRY PRICE: Approximately 1.3300
✅TAKE PROFIT: Around 1.2500 - 1.3000
❌STOP LOSS: Approximately 1.3400
Economists at Société Générale have analyzed the Canadian Dollar's outlook and anticipate a decline in the USD/CAD pair below the 1.30 level. The relative rates between the US and Canada are likely at their peak for the current economic cycle, which should support the CAD going forward. While the possibility of further tightening by the Federal Reserve and potential rate hikes by the Bank of Canada may prevent a rapid movement, Société Générale expects a return to a trading range of 1.25-1.30 for USD/CAD by the end of the year.
