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Usdcadlong

UsdCad- Break above resistance next?After the low from mid-July, UsdCad has started to reverse and after the small correction from last week, last Friday was also marked by an immense Bullish Engulfing from short-term support which led the pair into the resistance zone again. The structure from the low is strongly bullish and I believe this resistance will fall sooner rather than later. I'm very bullish UsdCad as long as 1.35 is intact and a break above the 1.3650 zone could lead to acceleration to the upside and expose the 1.3850 zone. In conclusion, my strategy is to buy dips under 1.36 in search of a good risk: reward considering the levels that I mentioned.
Long
by Mihai_Iacob
2
USDCAD Long Term selling Trading IdeaHello Traders In This Chart USDCAD HOURLY Forex Forecast By FOREX PLANET today USDCAD analysis 👆 🟢This Chart includes_ (USDCAD market update) 🟢What is The Next Opportunity on USDCAD Market 🟢how to Enter to the Valid Entry With Assurance Profit This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Charts
Long
by ForexPlanet20
USD/CAD Prediction on 25.08.2023The USD/CAD currency pair, colloquially referred to as the "Loonie," represents the exchange rate between the U.S. Dollar (USD) and the Canadian Dollar (CAD). A bullish stance on USD/CAD essentially suggests an expectation that the U.S. Dollar will strengthen against the Canadian Dollar. Here are some factors that could justify a buy position on USD/CAD: Diverging Economic Growth: If the U.S. economy is expected to grow at a faster pace than the Canadian economy, it might result in upward pressure on the USD against the CAD. Economic indicators such as GDP growth, employment rates, and consumer spending can shed light on the health of both economies. Interest Rate Differentials: Central bank policies play a vital role in determining currency values. If the U.S. Federal Reserve is poised to raise interest rates or has recently done so, while the Bank of Canada remains dovish, it could attract more investment to the U.S., boosting demand for the USD. Oil Prices: Canada is a significant exporter of oil. A decline in global oil prices can adversely affect the Canadian economy and thereby weaken the CAD. Conversely, if U.S. oil production remains robust or even expands, it could strengthen the USD, providing a double boost to the USD/CAD. Trade Relations and Policies: The U.S. and Canada share extensive trade relations. Any changes in trade policies, tariffs, or negotiations can influence the USD/CAD pair. For instance, a favorable trade deal for the U.S. might provide a boost to the USD. Political Stability: Political events, uncertainties, or policy changes in either country can have short-term impacts on the currency pair. A stable political environment in the U.S. compared to uncertainty in Canada could tilt the balance in favor of the USD. Technical Analysis: Sometimes, the decision to buy isn't based on fundamental factors alone. Technical indicators might show that the USD/CAD is poised for an upward movement, possibly suggesting it's undervalued and due for a correction. Global Economic Climate: Global events, such as geopolitical tensions, global recessions, or pandemics, can influence the USD/CAD pair, especially if they impact the U.S. and Canada differently. For instance, if global investors seek safe-haven assets, the U.S. dollar, being the world's primary reserve currency, might benefit.
Long
by mazayafx
USDCAD Long Term BUYING Trading IdeaHello Traders In This Chart USDCAD HOURLY Forex Forecast By FOREX PLANET today USDCAD analysis 👆 🟢This Chart includes_ (USDCAD market update) 🟢What is The Next Opportunity on USDCAD Market 🟢how to Enter to the Valid Entry With Assurance Profit This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Charts
Long
by ForexPlanet20
Bullish Outlook on USDCAD - 11 AugOn the H4 timeframe, there is bullish order flow, with higher lows and higher highs created. A throwback to support zone at 1.3380, which is in line with the 61.8% Fibonacci retracement level, could provide bullish acceleration towards the resistance zone at 1.3580, which coincides with the 141.4% Fibonacci extension level. Price is currently hovering above ichimoku cloud, supporting our bullish bias. Last high of 1.350 on 8 August caused the pullback as an intermediate resistance, and we can start trailing or shifting to breakeven once prices reaches or pushes past this level.
Long
by shermzT
Next week prediction for USD/CADThe USD/CAD currency pair, often referred to as the "Loonie", appears to be on an upward trajectory recently. Several factors contribute to this positive momentum for the US dollar against the Canadian counterpart. Here are the primary drivers behind the bullish outlook: Oil Price Dynamics: CAD is closely linked to crude oil prices, given Canada's significant oil exports. If oil prices face a downturn, the Canadian dollar typically weakens, boosting the USD/CAD. Monetary Policy Divergence: The Federal Reserve's stance and its potential hawkish turns can lend strength to the USD. In contrast, if the Bank of Canada (BoC) maintains a more dovish tone or signals any delays in rate hikes, it could further widen the policy divergence, pushing the USD/CAD higher. Economic Indicators: Recent US economic data has been promising, with employment numbers, GDP growth, and consumer confidence indicating robustness in the US economy. Favorable data can bolster the USD, driving up the pair. Trade Balances: Canada's trade balance, vis-a-vis its exports and imports, can significantly influence the CAD. Any disruptions or deficits can contribute to CAD's weakness, favoring a rising USD/CAD. Technical Outlook: On the charts, USD/CAD might be exhibiting bullish patterns or breaking key resistance levels, which can attract technical traders and further support the bullish momentum. Geopolitical Considerations: Any geopolitical tensions or uncertainties can lead investors towards the safety of the US dollar. As a safe-haven currency, the USD tends to benefit in times of global instability. Market Sentiment: The overall mood of traders and their perceptions based on news, reports, or global happenings can swing the pair. If the sentiment leans towards a stronger USD, it naturally drives the USD/CAD upwards. In conclusion, the USD/CAD pair seems to be showing signs of an uptrend, influenced by both fundamental and technical factors. While the momentum is currently on the upside, traders and investors are reminded to keep abreast of ongoing global and economic developments and exercise due diligence before making trading decisions.
by mazayafx
Usd Cad LongI have identified a potentially bullish move for the USD/CAD forex pair Ascending Triangle Pattern: On the daily chart, the USD/CAD has been forming an ascending triangle pattern. This pattern is characterized by a horizontal resistance level and higher lows, indicating potential bullish pressure building up. A breakout above the resistance level could trigger a strong upward move. Bullish Divergence: The Relative Strength Index (RSI) on the daily chart is showing a bullish divergence. While the price has been making lower lows, the RSI is forming higher lows, suggesting that the bearish momentum is weakening and a potential reversal could occur. Moving Averages: The 50-day moving average (MA) has recently crossed above the 200-day MA, confirming a bullish crossover known as the "golden cross." This crossover signals a shift in momentum and supports the bullish bias. Support Confirmation: The USD/CAD has recently tested and held firm at a key support level , providing further evidence of potential upward movement.
Long
by realtrademaster