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Usdcadsetup

USDCAD Trading Plan - 7/Mar/2023Hello Traders, Hope you all are doing good!! I expect USDCAD to go Down after finishing the correction. Look for your SELL setups. Please follow me and like if you agree or this idea helps you out in your trading plan. Disclaimer: This is just an idea. Please do your own analysis before opening a position. Always use SL & proper risk management. Market can evolve anytime, hence, always do your analysis and learn trade management before following any idea.
Short
by For3xScalper
Battle of the Bankers: USD/CAD in FocusThe USD/CAD might be a popular pair to trade this week with the Bank of Canada (BoC) releasing its latest interest rate decision at the exact same time that US Federal Reserve Chairman begins the second day of his Semiannual Monetary Policy Report to Congress. These events coincide at 10am Wednesday (EST). The Bank of Canada is expected to maintain its interest rate at 4.50%. In its previous meeting, the Bank announced its eighth consecutive rate increase but also mentioned that it would take a break to observe the economy's response to higher borrowing costs. The Bank stated that it plans to keep the policy rate at its current level while assessing the effects of the cumulative rate hikes if economic developments align with the Monetary Policy Report outlook. However, this pause is subject to change, and the strong job numbers for January, which indicated the addition of 150,000 jobs, as well as resilient consumer spending could persuade the Bank to opt for a rate hike instead of a pause. If the BoC fails to surprise, it might be what it signals for its meeting next month that becomes the more interesting focal point on Wednesday. Jerome Powell, the US Federal Reserve Chair, is scheduled to testify before the Senate Banking Committee and House Financial Services Committee on Tuesday and Wednesday morning. During these hearings, he is expected to face tough questions regarding inflation and potential future interest rate increases. This will be Powell's initial testimony since the Republican Party gained control of the House. Furthermore, on Friday, the February US Non-Farm Payrolls report is predicted to reveal the creation of 200,000 jobs in the previous month. This marks a deceleration in job growth compared to January's surprising surge, which added 517,000 jobs to the economy in the first month of the year.
by BlackBull_Markets
USDCAD After the break of the triangle, we can now expect two targets in the ranges of 1.37496 and 1.38591. Before that, we must be careful that we have the range of 1.36995, the static resistance of the pattern, which must be broken. After that, it is very easy to reach the first target, but to reach the second target, we have 2 resistances based on the pivot points in the ranges of 1.37810 and 1.38185, which can be a reason to build a resistance range between the two harmonic targets. .
by maryammh
4
USDCAD - FUNDAMENTAS WITH TECHNICAL LEVELS#USDCAD USDCAD is now quite BUY. The dollar started to strengthen slightly because of the short-term POSITIVE SENTIMENT for the dollar. Because it came with the NFP REPORT. The dollar weakened slightly after the FOMC last time. But the FED can raise the RATE HIKE or their CEILING RATE whenever necessary. Anyway, it was mentioned in the previous MEETING that the FED is still MONITORING INFLATION DATA. We think it will go up to the 1.3792 level before going down again. Also, with this MARKET RISK ON SENTIMENT, the USDCAD PRICE can SELL to the 1.3367 LEVEL in the future. FOLLOW THE STRUCTURE GIVEN.
by benny_marshall
1
USD/CAD :: Downtrend in the new week !!USD/CAD ::: Orange line :: is a reliable line that the price reacts to every time it is touched, and this line shows the downward trend and currently plays the role of support for the price position. Blue line :: It is a resistance that has been formed in a shorter period of time and the price has recently broken it, which can be another reason for the continuation of the downward trend. Purple Channel :: Based on the corrective movements, the price has been drawn in a higher time frame, which shows a slow downward trend. The previous analysis has also shown the corrective movements well :::: <<<< Analyze simply with The_Best_Trader_1991 >>>>
Short
by The_Best_Trader_1991
2
USDCAD Trading Plan - 23/Jan/2023Hello Traders, Hope you all are doing good!! I expect USDCAD to go Up after finishing this correction. Look for your BUY setups. Please follow me and like if you agree or this idea helps you out in your trading plan. Disclaimer: This is just an idea. Please do your own analysis before opening a position. Always use SL & proper risk management. Market can evolve anytime, hence, always do your analysis and learn trade management before following any idea.
Long
by For3xScalper