Usdcadshort
USDCAD → Moves below 1.3700 followed by 50-day EMAThe FX:USDCAD pair experiences downward pressure following the release of weaker US inflation data on Tuesday. Moreover, the uptick in crude oil prices is likely supporting the Canadian Dollar (CAD), adding to the pressure on the USD/CAD pair.
The technical indicators paint a bearish picture for the USD/CAD pair. The 14-day Relative Strength Index (RSI) below the 50 level indicates downward pressure, signaling a bearish momentum and reflecting a weaker market sentiment.
Additionally, the Moving Average Convergence Divergence (MACD) line, while above the centerline, has shown a divergence below the signal line. This suggests a potential shift in momentum towards a bearish sentiment in the USD/CAD pair.
The USD/CAD pair trades around 1.3690 during the early European session, after falling by almost 100 pips since the previous session. The 50-day Exponential Moving Average (EMA) at 1.3670 could act as the immediate support.
A firm break below the latter could influence the USD/CAD pair to navigate the region around the psychological level at 1.3600, followed by the 38.2% Fibonacci retracement at 1.3591 level.
On the upside, the major level at 1.3700 appears to be a key barrier. If there is a breakthrough above the latter, the bulls could revisit the weekly highs around the 1.3843 level.
Specialized technical analysisWith USDCAD today, applying specialized technical analysis, I suggest a counter-trend trade at the marked Supply & Resistance zone on the chart. The applied technical analysis includes:
- Market structure, Supply zone.
- Mid-frequency.
- Outer frequency.
- Fibonacci.
This trade carries high risk; however, the potential reward justifies it!
Good luck Traders!
usdcad sell
. Don't forget about stop-loss.
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P.S. I personally will open entry if the price will show it according to my strategy.
Always make your analysis before a trade
USDCAD - Looking To Sell Pullbacks In The Short TermH4 - Bearish convergence.
Currently it looks like a pullback is happening.
Bearish hidden divergence.
H1 - Bearish trend pattern.
Currently it looks like a pullback is happening.
Bearish divergence.
Until the two strong resistance zones hold my short term view remains bearish here.
USDCAD SELL | Day Trading AnalysisHello Traders, here is the full analysis.
Watch strong action at the current levels for SELL. GOOD LUCK! Great SELL opportunity USDCAD
I still did my best and this is the most likely count for me at the moment.
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USDCAD BEARISH STRICTURE USDCAD for some time now has been revolving around 1.310 support and 1.3878 resistance level. The overall structure can be said to be bearish looking at the WXYXZ structure formation.
From, trading perspective, I expect it to continue to fall from that height 1.3800 back to 1.3100 zone to complete the z of the WXYXZ complex structure.
#USDCAD to go lower-------------USDCAD SHORT-------------
As USD runs out of steam it becomes more clear that this will be a longer correction. All USD pairs are affected, even USDCAD. So I expect this pair to move downwards. Trendline of monthly level around 1.35 can put an end to this corrective move.
This is a not a financial advice. Do your own research and analysis.
USDCAD - Look for a long position ✅Hello traders!
‼️ This is my perspective on USDCAD.
Technical analysis: Here we are in a bullish market structure from 4H timeframe perspective, so I am looking for long. I want price to continue the retracement to fill the imbalance lower and then to reject from bullish order block + institutional big figure 1.37000.
Fundamental news: Tomorrow will be released Unemployment Rate in Canada, as well it will be NFP day in USA, so pay attention to the results in order to validate the analysis.
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USDCAD: Amidst a slowdown in interest rate increases, US marketsU.S. stocks are on track to post their biggest weekly gain this year as investors express optimism that U.S. interest rate hikes will be halted. This also led to higher bond prices and a weaker dollar. The focus now shifts to the US jobs report, which will be released later today.
The Federal Reserve's decision to keep interest rates on hold on Wednesday, combined with Chairman Jerome Powell's assertion that risks to the interest rate outlook are balanced, led to a rise in bond yields. The benchmark 10-year Treasury note fell more than 20 basis points in two sessions.
Short USDCAD, H1&H8, Swing Trading🚩 New Signal Notification
🔔Scalping(Intraday) & Swing (A couple of day) Strategy
Notification time: 2023/11/3 12:19:59
Symbol: USDCAD
Direction: Short
Price: Between White line and Red line OR
Sell Limit on Levels OR Indicator AI signal
Take profit: Yellow lines/ min.7 pips
Stop Loss: Red lines OR Indicator Thick MA
#SB AI signal #New strategy #USDCAD
USDCAD SELL | Day Trading Analysis With Volume ProfileHello Traders, here is the full analysis.
Watch strong action at the current levels for SELL. 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💰
USDJPY and USDCAD Top-down analysis Hello traders, this is a complete multiple timeframe analysis of this pair. We see could find significant trading opportunities as per analysis upon price action confirmation we may take this trade. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.