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Usdcadshort

USDCAD SHORTCaught this entry about 5 pips late due to waiting for confirmation on 30 min candle, I’m expecting it to drop until news on 14th comes out this is not a long term hold AUG 13th max before closing positions i seen that right as 30m candle and 2 hours candle tapped liquidity block it immediately reject expecting a harsh drop after retracement keep stop tight on this one everything lines up 5min bearish candle 30min bearish candle 2hr bearish candle Take at own risk
Short
by Devstradez
1
USDCAD: Technical Profits Await (SELL)On Weekly Bearish, market has been bearish. And this sets the bias we will be looking for which is the sell side. On the daily chart, Price has just broken a level that has been tested multiple times in the past. The 4hours is a little bit more interesting because we might see being rejected by: Support now turned resistance, Trend line that has held for a very longtime and the MA. which is a perfect confluence . It's all about probability This is a good probability setup
Short
by Crusade1Jay
USDCAD: stuck in a narrow range!Earlier today, the Japanese Government released updated forecasts, revealing that consumer inflation is expected to reach 2.6% in the current fiscal year. This is an increase from the previous forecast of 1.7% in January, and it surpasses the Bank of Japan's target of 2%. Additionally, the Government revised the economic growth forecast for the current year to 1.3%, down from the initial projection of 1.5% in January. It is anticipated that inflation will fall below the Bank of Japan's target range in 2024, with a forecasted rate of 1.9%.
Long
by Sphyn-Trader
3
USD/CAD Navigating Sideways Trading and Bearish MomentumThe USD/CAD pair has been exhibiting a bearish trend, and technical momentum remains unfavorably oriented for the USD. The recent attempts at a recovery from around 1.3100 were met with resistance near the 20-period daily Exponential Moving Average (EMA) at 1.3230. This suggests selling pressure and a potential continuation of the downside move. Fundamentally, the US Dollar has been weak due to a lack of supportive fundamentals, including subdued retail demand and the Federal Reserve's ongoing fight against inflation through interest rate hikes. On the other hand, the Canadian Dollar has shown some strength, supported by easing inflationary pressures in Canada, which allows the Bank of Canada to keep interest rates steady. TRADE IDEA DETAILS CURRENCY PAIR: USD/CAD CURRENT TREND: Bearish TRADE SIGNAL: Sell 👉ENTRY PRICE: Approximately 1.3220 ✅TAKE PROFIT: Around 1.3077 ❌STOP LOSS: Near 1.3265
Short
by RichDadph-FX