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Usdcadsell

USDCAD - BEARISH BIASUSD - BEARISH 1️⃣ A shift in Fed's monetary policy framework announced on Thursday also weighed on investors mood. The Fed will allow a more flexible inflation target, meaning rates can stay low for a longer period despite rising inflation. 2️⃣ Conference Board consumer confidence came below market expectations. CAD - BULLISH 1️⃣ The Canadian dollar appreciated further as oil prices have been hovering around five-month highs after US oil producers shut most of their offshore output in the Gulf of Mexico as hurricane Laura made landfall in the region. 2️⃣ Powell’s dovish comments, the upbeat market mood continued weighing on the greenback. ===== TECHNICAL ===== - We are looking to short USDCAD on SBR level on H1 chart. - USDCAD in bearish zone. ===== RISK TO THIS TRADE ===== - Decline in oil prices will take this trade to hit stop loss.
Short
by MonsunAsia
200+ PIPs 1.29500 is a key strong level that has been respected as both support and resistance before as marked on the chart by my purple arrows, price has hit this level and bounced numerous times making it a very strong level. Now as this level is 200 pips away i am selling down to this area where i will look at taking BUY trades, So bears should push price down to this level before bulls step back in. If you would like any help trading just send me a message :) Lots Of Love Laura x
Short
by FreeSignalsUK
8
USDCAD SHORTPlease note we have posted a BUY Idea on 1H time frame. (refer related idea) The 4H USDCAD looks bearish currently going up to retest the trendline as well as the Daily resistance which is strong enough to reverse the price. Fundamentally, USD has displayed some temporary strength which could last only until the daily resistance. The First target is immediate support, second target is the next major support. If you like our ideas, please support us with a like, share, follow, and comment
Short
by Fx_TradingCircle
SHORT OPPORTUNITY ON USDCADUSD - BEARISH 1️⃣ ADP reporting significantly weaker than expected private payroll growth in July (167K vs. 2.3 million forecast). 2️⃣ The employment component of non-manufacturing ISM dropping to 42.1 from 43.1, all signs point to a slowdown in labor market recovery last month. 3️⃣ The US government is expected to deliver a new stimulus plan by the end of the week, but there were no signs of an agreement as congressional Democrats and White House officials continued to be divided on key components of the bill. CAD - BULLISH 1️⃣ Oil prices jumped to its highest since March amid a massive decline in crude oil inventories and hopes for a fresh US stimulus package. 2️⃣ All major economic data in Canada printed positive. ===== Technical ===== 📊 We look to short this pair on SBR level + SMA50 area. 📊 USDCAD in bearish zone.
Short
by MonsunAsia