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Usdcadshort

USD/CAD: Awaiting US Retail Sales Amidst Central Bank DivergenceUSD/CAD: Awaiting US Retail Sales Amidst Central Bank Divergence As the European trading session kicks off on Monday, the USD/CAD pair grapples with resistance under the 1.3450 area. The downward pressure on the pair is attributed to a weakening US Dollar (USD), compounded by a less-than-robust US Producer Price Index (PPI) report. Market Dynamics: Elevated expectations of easing by the Federal Reserve (Fed) persist, fueled by the recent decline in the USD and the subdued PPI figures. All eyes are now on the US December Retail Sales data scheduled for Wednesday, with an anticipated MoM increase of 0.4%, compared to November's 0.3%. On the Canadian Dollar (CAD) front, the Bank of Canada (BoC) is widely expected to pivot towards interest rate cuts in the coming year after a series of rate hikes. Speculation suggests that the first rate cuts could occur as early as spring. Technical Analysis: From a technical standpoint, the USD/CAD price remains within the 50% and 61.8% Fibonacci Zone, positioning itself for a potential retest of the 200 Moving Average and the Dynamic trendline. The confluence of these indicators raises the possibility of a retest, potentially leading to a new downward push in line with the prevailing main trend. Conclusion: The USD/CAD pair navigates a complex landscape marked by central bank divergence, economic data releases, and technical signals. The USD faces headwinds, fueled by Fed easing expectations and a lackluster PPI report, while the CAD anticipates potential rate cuts by the BoC. Traders will closely monitor the upcoming US Retail Sales data for further insights into the pair's direction, as it grapples with critical technical levels and evolving market dynamics. Our preference Short positions below 1.3530 with targets at 1.3300 & 1.3200 in extension.
Short
by FOREXN1
1
USDCAD Long Term buying Trading IdeaHello Traders In This Chart USDCAD HOURLY Forex Forecast By FOREX PLANET today USDCAD 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 ForexPlanet20
1
USDCAD SELL ON REJECTION !!HELLO TRADERS!! As i can see after a big downtrend on USDCAD now a retrace done and its showing rejection here at this level again also you can see it is unable to break the trend line and US $ weakness is the ongoing.. Wars ahead around the middle east escalating more and more which is not good for US $ friends charts are clear like diamond our risk and reward ratio is great on this given analysis lets see what markets bring to us its just and trade idea share ur thoughts with us and for more updates Stay tuned
Short
by APEX_TRADING_ACADMEY
USD/CAD Bears Unleashed: Navigating the Bearish MomentumUSD/CAD Bears Unleashed: Navigating the Bearish Momentum The USD/CAD pair maintains its downward trajectory, securing another leg of the bearish journey after encountering resistance at the pivotal 1.3400 level. The 50% Fibonacci level once again proves to be a significant turning point, serving as a robust barrier within the 50% - 61.8% Fibonacci resistance zone. As the pair adheres to its prevailing downtrend, the US Dollar (USD) finds support from elevated US Treasury bond yields, positioning itself close to a three-week peak established last Friday. The benchmark 10-year US government bond yield remains steadfast above the 4.0% threshold, reflecting diminished expectations for a more aggressive policy easing by the Federal Reserve (Fed). This favorable environment acts as a tailwind for the Greenback, consequently bolstering the USD/CAD pair. In our technical forecast, we maintain a bearish outlook, anticipating the ongoing bearish momentum to persist as the pair navigates the complexities of the market landscape. Our preference Short positions below 1.3530 with targets at 1.3300 & 1.3200 in extension.
Short
by FOREXN1
1
USD/CAD sell signal AnalysisHello traders, this week, there hasn't been much significant movement in the DXY. We've observed two inside bars on the daily timeframe, indicating a period of ranging. Personally, I'm looking for the CPI data to potentially drive the price down. This would align with my interest in selling USDCAD, especially after taking the ERL. I anticipate targeting the next pool of liquidity, the IRL, considering that we've previously established the buy side of the curve in past weeks. I think it's now time to get the sell side of the curve. However, my decision to get involved will depend on the CPI release and whether it gives us a break of structure in the market.
Short
by Anisbylka
USDCAD - W1\D1USDCAD W1 - The price is near the lower border of the sideways band, but was unable to break through the previous lows. Expecting a rebound to the upper limit with an update to the previous high of 1.38990. It is also worth considering that there may still be a move down to update the minimum, or a continuation of the downward movement in the event of fixation beyond the lower border level and a retest. D1 - You can observe a corrective movement after a strong downward impulse, during which you can determine the continuation of the downward movement with the goal of updating the lows of D1 and W1 with targets of 1.30311. What can you expect? The idea is short-term in continuing the downward movement. You can consider entering from these levels ~1.33586 or expect a breakout of level 1.33387 with a target of 1.30311 Cancellation if the price breaks the maximum of the 1st wave - 1.34130, which can form a 3-wave structure and continue the upward movement. Short Target 1.32927 - 1.32264 - 1.31293 - 1.30311
Short
by Trade_Hive_Signals
USDCAD Approaching Significant ZoneUSDCAD has been Ranging in higher timeframes. On lower timeframes, a Bear market predominates. Price approaching Significant Zone: 1.30900 - 1.31775 Although zone was used previously as support, momentum indicates probable continuation passed this zone onto lower prices - unless proven otherwise by future price movements. Opinion is currently Neutral (no entry yet) with a Bearish bias . Looking for appropriate market structure at Zone for entry (shorts). Aggressively add to position if in profit, with appropriate risk managing and trading psychology. Avoid adding to position if negative.
by virtual_an0maly
USDCAD H1 / BEARISH TREND, POTTENTIAL RETRACEMENT UNTIL 1.33100✅Hello Traders! This is my perspective for USDCAD H1. As we can see, in this parity we're in a bearish trend, and I expect a retracement until the price of 1.33100, where we have a resistance level and also an OB. Also, it looks like a formation of BOSS vs COACH. Traders, if you liked my idea or if you have a different vision related to this trade, write in the comments. I will be glad to see your perspective. ____________________________________ Follow, like, and comment to see my content: www.tradingview.com
by GoodTradeST
USD/CAD Eyes Further Losses Following Hawkish Remarks by BoC GovUSD/CAD Eyes Further Losses Following Hawkish Remarks by BoC Governor After a brief pause in its three-day losing streak, USD/CAD is hovering around 1.3380 during the Asian session on Monday. The Canadian Dollar (CAD) has gained momentum against the US Dollar (USD) following hawkish comments from Bank of Canada (BoC) Governor Tiff Macklem on Friday. In his speech at the Canadian Club Toronto, Macklem hinted that the BoC is considering lowering the policy interest rate once they are confident that the economy is on a clear path back to price stability. This sentiment has bolstered the Canadian Dollar, putting additional pressure on USD/CAD. Currently trading around 1.3382, the pair is entrenched in a strong bearish downtrend. The technical analysis suggests a potential short continuation, especially with the breakout of a Triangle pattern. Traders are eyeing downside targets of 1.3330 in the short term, with the possibility of extending losses to 1.3300. As events unfold, market participants will closely monitor further developments, central bank communications, and economic indicators that could impact the trajectory of USD/CAD in the coming sessions. Our preference Short positions below 1.3450 with targets at 1.3330 & 1.3300 in extension.
Short
by FOREXN1
1