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Usdcadsell

USD/CAD SHORT from 1.3725My positions SHORT EUR/USD and GBP/USD have been closed as its evident that SELLERS are now pushing the USD south. With that in mind, I'mnow SHORT USD/CAD. I was looking for this pair to reach the WR1 weekly pivot at 1.3744 but it now looks like this was a level too far and price has reversed 9 pips short of that target. RSI on H1 has been over 70 for several hours and in the last 2 hours we've seen it fall to its current level of 55. MACD has crossed south on H1 and the Andean Oscillator red SELL line has lifted away fro zero and is now reading .0005. All the signs are that we are headed lower and hopefully I can get a decent + pip STOP on this trade before key news is released at 13:30 this being Prelim GDP and Unemployment Claims followed by Pending Home Sales 90 mionutes later. If these number come out green then the USD will rise and this trade will exit for a profit but if the numbers come out red then this trade will accelerate to the downside and may reach the main target which is 1.3660 where there is a band of support. The overall structure of USD/CAD remains BULLISH whilst we remain above 1.3660. Should 1.3660 break then 1.3600 wil come into play.
Short
by forextraplaces
2
USD/CAD SHORT from 1.3660USD/CAD has been declining since last week and shows not sign of finding support. The Andean Oscillator on the H1 time frame turned BEARISH towards the end of last week and with no obvious levels of support we can expect to see the price of USD/CAD drift lower to 1.3588 area where BUYERS may well lie. A look at the H4 time frame is revealing. All 4 EMA's (25/50/100/200) are grouped together and the price is now below this group. This means that USD/CAD BULLS would have to push through all these EMA's to head north and this seems unlikely in the absence of key drivers. THe only news on the horizon comes at 15:00 tomorrow with the CB Consumer Confidence which is not generally a big move so if this print disappoints then we can expect to see USD/CAD decline at a faster rate. The D1 time frame suggests we could be headed for the 200 EMA at 1.3570. If this key level breaks then there's nothing to stop USD/CAD heading much lower but any significant CAD or USD news would set the agends for this pair. With the Bank Holiday price action will be slow so I expect to see a gradual but steady decline with this pair.
Short
by forextraplaces
8
USDCAD - Bearish continuation ✅Hello traders! ‼️ This is my perspective on USDCAD. Technical analysis: Here we are in a bearish market structure from 4H timeframe perspective, so I look for a short. I expect bearish price action to continue after price rejected from bearish order block + trendline. My target is imbalance lower. Fundamental news: Tomorrow (GMT+3) we will see results of Unemployment Rate on CAD, news with high impact on currency. Like, comment and subscribe to be in touch with my content!
Short
by Snick3rSD
USD/CAD Sell Trade Analysis: Exploring Short OpportunitiesThe USD/CAD currency pair presents an intriguing opportunity for a sell trade, with technical indicators suggesting a potential downward movement in price. Technical Analysis: Resistance Level: The pair is currently approaching a significant resistance level, which has historically acted as a barrier to further upside movement. This resistance level indicates a potential area for initiating a sell trade. Trade Recommendation: Entry: Consider entering a short position as the price approaches the resistance level, ideally after confirmation of bearish price action such as a bearish engulfing candlestick pattern or a rejection from the resistance level. Stop Loss: Place a stop loss above the resistance level to manage risk in case of a breakout. Target: The initial target could be set at a support level or a previous swing low, with potential for further downside if the bearish momentum strengthens. Disclaimer: Trading forex involves substantial risk of loss and is not suitable for all investors. The analysis provided here is for informational purposes only and should not be construed as investment advice or a recommendation to trade. Always perform your own due diligence and consult with a qualified financial advisor before making any investment decisions. Past performance is not necessarily indicative of future results. Trading carries risks, and it's essential to only trade with capital you can afford to lose.
Short
by Maven_Trader24
Will The Loonie SELL OFF Again, Or Break Up to 1.40??The Loonie has been hovering between 1.31 and 1.39 for the past two years, and we're quickly approaching the upper boundary of this weekly range. Will there be another sell-off? Let's dive into what the price charts reveal. We're riding a 17-week uptrend on the weekly chart, with last week's candle showing an especially bullish move—over 200 pips—pushing us near the top of the range. Historically, the final push to the range's peak tends to be the most bullish, as shown in the chart below. This pattern suggests that it might be a good time to consider selling once the right signal appears. On the daily chart, we see a similar pattern: the last leg up to the range top is usually the most significant. Below is the sell zone chart, indicating where I plan to look for sell signals between 1.38 and 1.39 using my TRFX indicator. I anticipate that the market will reach this sell zone in the next few days. Then, I'll wait for a sell signal on the 4-hour charts or higher. The target for this trade is the bottom of the range at 1.31. Based on past patterns, the price should drop to this level fairly quickly. This trade idea would be void if there's a clear break and a weekly close above 1.39. If that happens, expect a move up to the significant monthly SUPPLY/SELL zone starting at 1.40. Would love to hear your thoughts in the comments below
Short
by TheFxAce
10
USDCAD I Correction of recent bullish impulse in progressWelcome back! Let me know your thoughts in the comments! ** USDCAD Analysis - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support!
Short
by BKTradingAcademy
USD/ CAD !! DOWN correction wave ! 11/4/24 ⭐️ Smart investment, Strong finance ⭐️ USD/CAD INFORMATION: The USD/CAD pair consolidates gains above 1.3650 in Asian trading hours, supported by stronger-than-expected US inflation. The Greenback reached a yearly high of 105.30. Investors are watching for cues from the US Producer Price Index (PPI) later today, with estimates of a 2.2% YoY increase in the headline PPI and a 2.3% YoY increase in the Core PPI. The Bank of Canada (BoC) kept its key interest rate at 5% for the sixth consecutive time since July. BoC Governor Tiff Macklem stated that while recent inflation progress is encouraging, he needs more evidence before considering rate cuts. He also mentioned the possibility of an interest rate cut in June. ⭐️ Personal comments NOVA: After a strong increase in price, the price needs an adjustment - a down wave to create liquidity and wait for the next motivational news. ⭐️ SET UP PRICE: 🔥SELL USD/ CAD zone: 1.36800 - 1.36950 SL 1.37400 TP1: 1.36500 TP2: 1.36100 TP3: 1.35800 ⭐️ Technical analysis: Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable SELL order. ⭐️ 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
Short
by Nova-Scalper
3
USD CAD chartUSD/CAD is the forex ticker that represents the US Dollar-Canadian Dollar currency pair. The USD/CAD rate, as indicated on the live chart, shows traders how many Canadian Dollars are required to buy one US Dollar. Follow the USD/CAD chart for live prices and stay up to date with the latest USD/CAD news, forecasts and analysis. Our expert industry insights will give you the edge to conduct thorough fundamental and technical analysis to trade this popular currency pair. confirm signal
Short
by Mark804
USDCAD SELL | Idea Trading AnalysisHello Traders, here is the full analysis. I think we can soon see more fall from this range! GOOD LUCK! Great SELL opportunity USDCAD I still did my best and this is the most likely count for me at the moment. Support the idea with like and follow my profile TO SEE MORE. Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 🤝 Patience is the If You Have Any Question, Feel Free To Ask 🤗 Just follow chart with idea and analysis and when you are ready come in THE GROVE | VIP GROUP, earn more and safe, wait for the signal at the right moment and make money with us💰
Short
by TheGrove
2
USDCAD SHORT 414.8 PIPS READ DESCRIPTIONThe analysis for USD/CAD (US Dollar paired with Canadian Dollar) indicates that the price is currently at a historical daily resistance level, ranging from 1.36000 to 1.36330. This level has served as a significant barrier to price movement in the past, suggesting a potential area of selling interest for the currency pair. To further support this analysis, data from the previous week regarding big player and investor activity is considered. It's noted that there were a total of 82,909 short positions and 45,761 long positions taken by investors. This data indicates a bearish sentiment among investors, with 36% of positions being short and only 14.8% being long. Given that the daily resistance level coincides with the level at which big players have put short positions, it adds further credibility to the resistance zone and strengthens the bearish outlook for USD/CAD. In terms of trading strategy, two target prices are set for this trade. The first target price (TP1) is set to capture potential profit if the market follows through with a downward movement. If the market reaches TP1 and continues to move lower, the trade should be closed for a profit. However, if the market reverses and starts moving higher after reaching TP1, the trade should be closed at the second target price (TP2) to mitigate losses. The expected gain from this trade is 414.8 pips, indicating the potential for a significant downward movement in USD/CAD if the resistance level holds. By setting clear target prices and managing risk effectively, traders aim to capitalize on potential market movements while protecting their capital. In summary, the analysis suggests a bearish outlook for USD/CAD, with a historical daily resistance level acting as a significant barrier to price movement. By considering investor data and implementing a well-defined trading strategy, traders aim to profit from potential downward movement in the currency pair while managing risk responsibly.
Short
by MOAZAM1133
USDCADUSD/CAD is the forex ticker that represents the US Dollar-Canadian Dollar currency pair. The USD/CAD rate, as indicated on the live chart, shows traders how many Canadian Dollars are required to buy one US Dollar. Follow the USD/CAD chart for live prices and stay up to date with the latest USD/CAD news, forecasts and analysis. Our expert industry insights will give you the edge to conduct thorough fundamental and technical analysis to trade this popular currency pair. The USD/CAD pair trades on a weaker note above the 1.3500 mark during the early Asian trading hours on Friday. The decline of the US Dollar below the 104.00 mark weighs on the pair.
Short
by Mark804
USDCAD SELLUSD/CAD is the forex ticker that represents the US Dollar-Canadian Dollar currency pair. The USD/CAD rate, as indicated on the live chart, shows traders how many Canadian Dollars are required to buy one US Dollar. Follow the USD/CAD chart for live prices and stay up to date with the latest USD/CAD news, forecasts and analysis. Our expert industry insights will give you the edge to conduct thorough fundamental and technical analysis to trade this popular currency pair. confirm signal
Short
by Mark804
USDCAD LONGUSD/CAD is the forex ticker that represents the US Dollar-Canadian Dollar currency pair. The USD/CAD rate, as indicated on the live chart, shows traders how many Canadian Dollars are required to buy one US Dollar. Follow the USD/CAD chart for live prices and stay up to date with the latest USD/CAD news, forecasts and analysis. Our expert industry insights will give you the edge to conduct thorough fundamental and technical analysis to trade this popular currency pair. USD/CAD IG Client Sentiment: Our data shows traders are now net-short USD/CAD for the first time since Mar 06, 2024 15:00 GMT when USD/CAD traded near 1.35. USD/CAD: Retail trader data shows 47.41% of traders are net-long with the ratio of traders short to long at 1.11 to 1. In fact, traders have remained net-short since Mar 06 when USD/CAD traded near 1.35, price has moved 0.07% higher since then. The number of traders net-long is 31.87% lower than yesterday and 28.88% lower from last week, while the number of traders net-short is 5.88% higher than yesterday and 27.33% higher from last week. CONFIRM CHART
Long
by Mark804
USDCAD SELLUSD/CAD is the forex ticker that represents the US Dollar-Canadian Dollar currency pair. The USD/CAD rate, as indicated on the live chart, shows traders how many Canadian Dollars are required to buy one US Dollar. Follow the USD/CAD chart for live prices and stay up to date with the latest USD/CAD news, forecasts and analysis. Our expert industry insights will give you the edge to conduct thorough fundamental and technical analysis to trade this popular currency pair. confirm chart
Short
by Mark804
1