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Usdcadlong

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 Video 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
Possible Reversal to the Upside Expected Move: 280+ pipsCurrency Pair: USD/CAD Trade Details: - Entry: Buy USD/CAD at the current market price - Stop Loss (SL): 1.33169 - Take Profit (TP): 1.36383 Trade Rationale: Based on technical analysis, there are several factors indicating a possible reversal for USD/CAD and a potential upward move of at least 280 pips: 1. Support Level: The price has reached a significant support level, indicating a potential bounce or reversal. Traders might see this as an opportunity to buy the pair at a favorable price. 2. Bullish Candlestick Patterns: Recent candlestick patterns, such as hammer, engulfing, or bullish pin bars, have formed on the daily or weekly charts, suggesting a shift in market sentiment and a potential bullish reversal. 3. Oscillators: Momentum oscillators, such as the Relative Strength Index (RSI) or Stochastic Oscillator, are showing oversold conditions, indicating a possible exhaustion of the selling pressure and a potential rebound in prices. Risk Management: To protect against potential losses, it is crucial to set a stop-loss order at 1.33169. This level should be placed below the recent swing low or a significant support level, ensuring that if the trade goes against the expected reversal, losses are limited. Profit Target: The take-profit level is set at 1.36383, aiming for a potential gain of at least 280 pips. This target is based on previous resistance levels or Fibonacci retracement levels that may act as barriers to the upward price movement. Note: Please remember that trading involves risks, and past performance is not indicative of future results. It's essential to conduct your own analysis, consider market conditions, and adjust your trade management according to your risk tolerance and trading strategy.
Long
by PriyankaSatam1894
Is it time to add buys in USD/CAD? Detailed analysis below!Dear traders, after Bank of Canada's rate event yesterday, USD/CAD dropped to the 1.3321 level. However, the fall was arrested as it is a strong support level . Based on the current price action, it seems the 1.3320 support level would continue to hold. So, if price action becomes bullish at this level and the support level stays unbroken, traders can consider going long USDCAD@1.3320 with SL below 1.3250 and TP at 1.3650 .
Long
by YourLazyTrader
usdcad long positionas we can see, there is a FTR near here and since the price have reacted to the mouth FL of this FTR, I believe that there is a good chance that with this CP approach, we'll see a good reaction to this supply zone. ⚠️ Notice: I will enter one third of my position when price touch the box and the rest of it in the middle of the box. My TP would be R/R=3 and 5. Please trade with your own money management methodology and be aware that trading has its own risks and rewards. Good luck ❤️
Long
by mirzaeiamirsoheil
USD/CAD: Consolidation Calm Before the Storm? The USD/CAD has been consolidating since late last Friday. Key levels include 1.346 and 1.345 for the upper bound and 1.341 and 1.340 for the lower bound. The market appears to be in the middle of the storm that might be unleashed after the Bank of Canada’s (BoC) interest rate decision on Wednesday. In January, the BoC made history by being the first major global central bank to stop its rate-hiking cycle and has kept rates unchanged at its last two policy meetings. However, the economy's unexpectedly robust performance since then has placed the bank in a challenging position and will test its determination to maintain a neutral stance. After declining from its peak at 8.1% in 2022, inflation in Canada unexpectedly experienced its first increase in 10 months, surging to 4.4% in April from 4.3% in March. The increase is being attributed to the recent rebound in Canada's housing market. The current market consensus is for an approximately 40% to 45% chance of a 25-basis-point interest rate hike on Wednesday. According to some, this is underestimating the possibility of a rate hike. Which means that the lower bounds of the current consolidation band could easily be tested (and broken) in the lead up to the interest rate decision. On the other side of the trade, the US dollar faced obstacles as it was revealed that the US services sector experienced minimal growth in May, primarily due to a slowdown in new orders. This news brought an end to the initial surge in the USD, which was triggered by incredibly robust job growth.
by BlackBull_Markets
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