Get started

Usdcadlong

USD/CAD Prediction on 29.062023Today, the economic calendar seems to favor a bullish outlook for the US dollar. Several key indicators and economic events scheduled for release today could potentially have a positive impact on the dollar's value. Firstly, the Federal Reserve's interest rate decision is due, a highly anticipated event. If the Fed raises interest rates, it is typically a bullish signal for the dollar, as higher interest rates attract foreign investors seeking a better return on their investments, increasing the demand for the currency. Secondly, the US GDP data for the second quarter is set to be published. This data provides a broad view of the health of the US economy. If the GDP growth rate exceeds expectations, this could signal that the US economy is recovering faster than anticipated, which would boost confidence in the dollar. Next, the jobless claims data is set for release. This data reflects the number of individuals who have filed for unemployment benefits for the first time during the past week. Lower jobless claims indicate a healthier labor market and generally strengthen the dollar. Finally, the Consumer Confidence Index (CCI) will be announced. This index gauges the level of consumer confidence in the economic activity. A higher reading typically suggests that consumers are optimistic about the economy, which can increase spending and thus stimulate economic growth. In conclusion, the data releases scheduled for today could potentially strengthen the dollar if they come in above expectations. Investors are advised to monitor these events closely, as their actual results could significantly impact the dollar's trajectory. However, it's worth noting that the market's reaction to these events could be influenced by a variety of other factors, such as global economic trends, geopolitical events, and changes in risk sentiment among investors.
Long
by mazayafx
USDCAD - Short active ✅Hello traders! ‼️ This is my perspective on USDCAD. Technical analysis: Here we are in a bearish market structure from 4H timeframe perspective, so I am looking for shorts. I expect bearish price action from here as we can see that price rejected from half of imbalance + 1H breaker block. Fundamental analysis: Tomorrow we have news on CAD, will be released monthly GDP, which is forecasted to increase, this means strength in currency. Like, comment and subscribe to be in touch with my content!
Short
by Snick3rSD
USDCAD 30 MINS TIME FRAMEThe Structure looks good to us, waiting for this instrument to correct and then give us these opportunities as shown on this instrument (Price Chart). Note: Its my view only and its for educational purpose only. Only who has got knowledge about this strategy, will understand what to be done on this setup. its purely based on my technical analysis only (strategies). we don't focus on the short term moves, we look for only for Bullish or Bearish Impulsive moves on the setups after a good price action is formed as per the strategy. we never get into corrective moves. because it will test our patience and also it will be a bullish or a bearish trap. and try trade the big moves. we do not get into bullish or bearish traps. We anticipate and get into only big bullish or bearish moves (Impulsive Moves). Just ride the Bullish or Bearish Impulsive Move. Learn & Know the Complete Market Cycle. Buy Low and Sell High Concept. Buy at Cheaper Price and Sell at Expensive Price. Keep it simple, keep it Unique. please keep your comments useful & respectful. Thanks for your support.... Tradelikemee Academy
Long
by Tradelikemee
4
USD/CAD Prediction on 28.06.2023The USD/CAD pair has recently been experiencing an upward trend, a shift that market analysts and traders are closely monitoring. This forex pair's current rise, which represents the value of the US dollar (USD) against the Canadian dollar (CAD), is being influenced by a myriad of factors. From a macroeconomic standpoint, it's important to consider the interplay between the economies of the two countries involved. The United States and Canada, as two of the world's major economies, have intricate economic ties, which often directly influence the USD/CAD exchange rate. One key factor could be the relative strength of the US economy. Recent data shows an uptick in several leading indicators such as GDP growth, unemployment rate, and inflation. This has led to expectations of a potential interest rate hike by the Federal Reserve, a move that often bolsters the USD's value. On the other side of the pair, the CAD's performance is heavily influenced by the price of commodities, notably oil. If oil prices are experiencing a downturn or are relatively stable while the US economy strengthens, it could explain the uptick in the USD/CAD rate. Moreover, geopolitical tensions and changes in global risk sentiment can also affect the pair. When there's global economic uncertainty, investors tend to flock towards "safe-haven" currencies such as the USD, driving up its value against pairs like the CAD. Lastly, market speculation plays a role too. If traders believe that these trends will continue, they may buy into the USD/CAD pair, thereby driving the price up even further. It's essential for traders and investors to stay updated with both US and Canadian economic data, geopolitical events, and other relevant news that could impact the pair's future movements. A thorough analysis of these elements would provide a better understanding of whether this upward trend in the USD/CAD rate is a temporary phenomenon or the beginning of a longer-term shift.
Long
by mazayafx
USDCAD Analysis. Get ready!!Hello everyone! I want share my idea about USDCAD pair which is at really good LVL to see that will happen. Last of the week we saw some divergences on DXY and also we see divergence on this pair too. Trend is pretty bearish and its going so strong down. after touch daily support it broke 4H resistance at 1.318 and closed market when it was retesting that. My price prediction is long to trendline, because we have strong divergence and reversal movement on dollar index too (I will link in this post my DXY price prediction) if dollar index will continue bullish trend I think on that pair will see bullish trend. For that I have 2 scene of price movement which is completely possible to happen. Bullish scene- go up 1.31 LVL strong brake down trendline, then big resistance at 1.327, retest that and on the retest I will open my long position. Bearish scene- it will continue downside movement, will brake 1.318-1315 support and fall on weekly support which is at 1.298. With my strategy I need to to find swing high and open my position, but here is more important what market tell us. Be Patient!!!!!
Long
by elmakacho
USDCAD Long Term Buying IdeaHello Traders In This Chart USDCAD DAILY Forex Forecast By FOREX PLANET today USDJPYD 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 forexplanet797
USD/CAD Prediction 23.06.2023A robust bullish trend is looming on the horizon for the USD/CAD currency pair. After careful examination of the technical indicators, a clear uptrend is forming, showing signs of strengthening. This implies a potential for an upward shift, indicating the US dollar could gain ground against the Canadian dollar. Several elements are contributing to this prospective bullish trend. On a macroeconomic level, key indicators such as strong US economic data and shifts in interest rate expectations could be driving factors. On a technical analysis level, a break above key resistance levels and the formation of bullish chart patterns may be confirming signals of the trend. Remember, though, financial markets are inherently volatile and unpredictable. Always ensure to undertake a comprehensive analysis, considering all potential factors and risks before making any investment decisions.
Long
by mazayafx
USDCAD analysis (1W time frame)On the chart we can see that the price is in the middle of the range. We expect that the price will come back down and will retest the key support at the bottom of the range. It may take some time, but we believe that it will happen in 2024. It would be our entry for a long position. From another hand, if the price pump and reach the top of the range , it may be a good place to enter short position. In this case the stop loss should be put above the resistance. 2 possible scenarios are shown on the chart Good luck
by vf_investment
3
USDCAD Long US jobs indicator signals early signs of stress, CAD rides positive momentum after BoC hike Bearish momentum accelerates as CAD continues positive momentum – ‘death cross’ and major support will be tested nitial jobless claims out of the US flashed another early warning signal regarding the otherwise robust job market. 261 thousand people were newly unemployed as of the week of 3 June and represented the second time in recent prints that the data point exceeded estimates. As a result, the dollar sold-off, seeing an extended move to the downside for USD/CAD The pair now shows renewed downside momentum and has broken beneath the longer-term channel that has contained the majority of price action. In fact, the move now tests the long-term trendline support that has witnessed multiple tests, none of which were successful. The ‘death cross’ - circled in orange – provides further indications of a bearish continuation from here. A daily and weekly candle close below the trendline would naturally have bears looking at 1.3230 as the next level of support with the level coinciding with the November 2022 swing low. Breakouts often retrace to retest support/resistance and so a true test of a potential bearish breakdown would be a successful test of the trendline which would effectively become resistance, and subsequent selling thereafter. Should CAD momentum wane and the US dollar look to claw back lost ground, a hold of trendline support will be key. If the bearish momentum were to falter, 1.3503 would be the next level of interest with an invalidation of the bearish viewpoint around 1.3600 and 1.3650. The weekly chart reveals the 61.8% and 50% Fibonacci retracements of the major 2020 to 2021 sell-off - roughly the zone that has been housing price action for the last quarter of 2022 and 2023 this far. Canadian employment data may attract a few more eyes than normal given the uptick in US initial jobless claims yesterday – which caused a notable response in the dollar and highlights FX market’s sensitivity to incoming data. Next week crucial US inflation data provides another opportunity for core inflation to finally move below the recent 5.5% - 5.7% multi-month range. A softer inflation print could see downward revisions in future rate expectations and may see the USD/CAD head even lower from here. After the RBA and BoC surprised markets with hikes in June, could the Fed follow suit? In my opinion I think it would be a tough ask, given how vocal prominent members of the Fed have been about voting to forgo a hike next week with the possibility of a hike in July should the data necessitate one. The Fed will also release its quarterly summary of economic projections which ought to provide markets with a better idea of the economic outlook. US PPI will also factor into the inflation conversation but any surprises there will need to be factored into next month’s FOMC meeting. Granted USD/CAD has been sideways for months, but conditions could be getting ripe for a trend. USD/CAD is testing vital converged support around 1.3220-1.3320, a break below which could clear the way for a drop initially toward the psychological 1.3000, potentially toward the August low of 1.2725. Moreover, the IG Client Sentiment (IGCS) shows 70% of retail traders are net-long with the ratio of long to short at 2.3 to 1. The number of traders net-long is a whopping 74% higher from last week. RSI above 200. Trend Bullish. The Canadian dollar may have just received the boost to extend gains against some of its peers, thanks to the Bank of Canada’s (BOC) hike on Wednesday. BOC hiked its overnight rate to a 22-year high of 4.75%, saying “concerns have increased that CPI inflation could get stuck materially above the 2% target.” The central bank, however, dropped the April language saying it “remains prepared to raise the policy rate further”, making it more data dependent. Markets are pricing in another rate hike in July, with the terminal rate seen at 5.15% by the end of the year.
Long
by DaveBrascoFX
1
USDCAD Potential ReversalIn my opinion, USDCAD appears to be showing signs of a potential reversal as it forms a falling wedge pattern on the 1-hour timeframe, with the current price finding support at a specific level. The falling wedge pattern typically indicates a bullish reversal, suggesting that the downward momentum may be weakening. Considering this pattern and the support level, traders might consider a potential long position on USDCAD. However, it's important to manage risk effectively. Setting a stop loss at 1.3276 can help limit potential losses if the market moves against the anticipated reversal. Additionally, a take profit level of 1.3439 can be considered as a target to capture potential gains. Looking forward to read your opinion about it.
Long
by TopgOptions