Correction According to the behavior of the price in the range of the current ceiling, possible scenarios have been identified. It is expected that a change in the trend will take place and we will see the beginning of the correction process
CADUSD trade ideas
USDCAD upside target 1.4560On the weekly chart, USDCAD maintains an upward trend, and bulls are strong. USDCAD may continue to rise. Currently, we can pay attention to the support around 1.4270. If it falls back and does not break, we can consider continuing to buy. The upward target is around 1.4560.
USDCAD-SELL strategy 3 hourly GANN SQThe pair broke through 1.4250 zone, and now we are near the next resistance level 1.4340 zone.
It is heavily overbought, like so many other pairs. Stochastic high and MFI well quite extreme, so over time we will see corrective action, is my viewpoint (and no issue when we disagree).
Strategy SELL @ 1.4310-1.4335 area and take profit near 1.4178.
Do you think we might be witnessing a target shooting?
Hi dears
How are you?
If the orange line breaks down, it could be an attractive target.
What do you think, buddy?
USDCAD BULLISH TO $1.42Overall still bullish on USDCAD as my Elliott Wave Theory strategy predicts little upside is left, AFTER a retracement.
⭕️Wave 3 (III) Complete.
⭕️Wave 4 (IV) Correction & Final Wave 5 (V) Bullish Leg Yet Pending.
⭕️DXY Bullish, Meaning USDCAD Is Still Bullish.
USDCAD BULLISH TO $1.42 (UPDATE)
What did I tell you all 3 days ago? Wave III has completed, so we should expect a retracement down towards Wave IV. USDCAD has dropped 150 PIPS towards our supply zone, so well done if you caught short term sells!
Price is now rejecting our supply zone with bullish momentum, so you can start looking to getting into buys towards major Wave V & major Wave Y.
USDCAD BULLISH TO $1.42 (UPDATE)Remember my USDCAD analysis posted 3 weeks ago? Market moved exactly how I said it would. We saw Wave III create its top, which led to sellers coming in & pushing price down towards our Wave IV zone.
Bulls came back in rejecting our Wave IV zone & now running 115 PIPS in profit towards our Wave V (Major Wave Y) target!
USDCAD BULLISH TO $1.42 (UPDATE)To no surprise, our USDCAD buy analysis worked out to perfection! Beautiful rejection from our Wave IV support zone & shot up 300 PIPS in profit towards our Wave V (Major Wave Y) target. Close out this trade now if you're still holding🔥
USDCAD H1 ANALYSISUSD/CAD: Bullish Momentum Fades, Downward Correction Expected
The USD/CAD pair is currently trading near 1.4280, but its upward momentum is losing steam. Following softer Canadian inflation data and robust US Retail Sales, the pair appears poised for a downward correction.
Key Points:
- Weaker Canadian inflation data fuels expectations for additional BoC rate cuts.
- Strong US Retail Sales data bolsters the US dollar.
- Markets eagerly await the crucial Federal Reserve policy meeting for further guidance.
- Potential correction targets: 1.4200, 1.4050
Best Wishes Tom 😎
USDCAD OUTLOOKOn the 12 months chart, price shows an impulsive bearish move that took 6 years to complete. In tandem with price action, the bullish correction that is currently active has taken 14 years. Price is yet to contact a fresh long-term supply sitting at 1.544.
On the monthly and weekly charts, the structure is still the same. Price is seeking to contact a short term fresh supply at 1.44.
Once this region is contacted, we are likely to see bearish order flow setting in
USD/CAD Price Action: CAD Hits Record Lows Against US DollarRecent developments have significantly impacted the USD/CAD pair, pushing it above 1.4200, marking the Canadian dollar's lowest level against the US dollar since March 2020. This decline is driven by the recent resignation of Canadian Finance Minister Chrystia Freeland, sparking political and economic uncertainty amid ongoing tariff policy disputes with the US. The Bank of Canada's decision to lower its key interest rate by 50 basis points to 3.25%, following weak GDP growth data, has further pressured the CAD. Despite stronger-than-anticipated consumer spending, the BoC has signaled a pause on aggressive future rate cuts, leaving room for potential economic adjustments in response to growth and inflation challenges. Meanwhile, the US Federal Reserve's optimistic outlook on inflation and a robust labor market points to a cautious approach on rate cuts, supporting the dollar's strength. As uncertainties surrounding US tariffs and economic data unfold, traders should closely monitor these developments to anticipate further USD/CAD movements and make informed trading decisions.
USDCAD - Bullish TrendUSDCAD with Ascending channel support indicates continuation of bullish trend.
USD/CAD Potential trade to LongFX:USDCAD
I am currently looking at a Long position, waiting to see how the price will react to the fundamentals and the PPI in USD.
After that I would be interested in the 1.41900 area for the first entry and the 1.41560 area for the second. In both of these zones, I find the confluences needed for entry, but the result of fundamnet will be decisive
USDCAD - Bullish Trade Price is moving in bullish trend.
No bearish divergence indicates continuation of trend.
Update levels USDCADAccording to the original analysis, I just adjusted a few levels, otherwise the comment still remains valid, I'm still waiting for a short set up.
#013 NEW DCA USDCAD UP TRENDIf price goes up, then just buy. Look for clean price action.
DCA when price goes against us, scale in when price moves in our favour. Same coin of different sides.
1338SGT 17122024
Kinda tired of forex because the movements isn't as strong as stocks and there's the counter currency pulling action.
#008 NEW DCA USDCAD Buy Up TrendI bought USDCAD just because I saw that it has been trending.
No other reasons. I think sometimes no reason but because it is trending is a very good reason.
Just like duolingo, godaddy, marriott, tesla. Don't question. No need for question.
Obviously if something is going to go upwards and it has been going upwards, plus being strongly going up, you would want to take a piece out of it. You dont question why its going up. You just grab that wall flower and begin peddling. Once the trend dies, and you give it logic, you kill yourself with the logic when the logic doesn't work out the way you thought.
So, don't think. theres nothing to think about.
1547SGT 13122024
USD/CAD Sell - 15 minsTrading Idea: USD/CAD Sell Setup
Trade Overview:
Entry Zone: Near 1.42500
Take Profit (TP): 1.42100 (Key Support Zone)
Stop Loss (SL): 1.42738 (Above Resistance)
Risk-to-Reward Ratio: ~2.5:1
Technical Analysis:
Head and Shoulders Pattern:
The chart highlights a clear Head and Shoulders reversal pattern, with the right shoulder forming near the 1.42500 resistance zone.
This is a strong bearish signal, indicating a potential shift in momentum to the downside.
Rising Wedge Breakout:
Price is showing signs of breaking down from a Rising Wedge, a bearish continuation pattern.
Bearish candlesticks indicate selling pressure building near the resistance.
Key Resistance Zone:
The 1.42500–1.42700 area has acted as a strong ceiling for price, resulting in multiple rejections.
Sellers have shown dominance at this level, reinforcing the bearish bias.
Target Support:
The TP at 1.42100 aligns with a prior support level and demand zone, making it a logical target for the move.
USDCAD Wave Analysis 16 December 2024
- USDCAD reversed from support zone
- Likely to rise to resistance level 1.4300
USDCAD currency pair recently reversed up pivotal support level 1.4140, former resistance level which reversed the price sharply at the end of November.
The upward reversal from the support level 1.4140 started the active impulse wave 5 of the higher order impulse wave (3) from September.
Given the clear daily uptrend, USDCAD currency pair can be expected to rise further to the next resistance level 1.4300.
USD/CAD Riding the Ascending ChannelChart Analysis:
The USD/CAD pair continues to trade within a well-defined ascending channel (blue-shaded area), reflecting sustained bullish momentum.
1️⃣ Ascending Channel:
The pair is trading near the upper boundary of the channel, indicating strong upward momentum.
Traders may watch for reactions at this level for potential continuation or minor pullbacks to the channel’s midline or lower boundary.
2️⃣ Key Resistance Level:
The horizontal level at 1.3977 (pink line) represents a significant historical resistance area. A sustained breakout above this level has reinforced the bullish outlook.
3️⃣ Moving Averages:
50-day SMA (blue): Rising and acting as dynamic support near 1.3952.
200-day SMA (red): Sloping upward around 1.3723, confirming a longer-term bullish trend.
4️⃣ Momentum Indicators:
RSI: Hovering near 71, reflecting strong momentum but also signaling overbought conditions.
MACD: Bullish momentum remains intact as the MACD line stays above zero and trends upward.
What to Watch:
Price reaction at the upper channel boundary for signs of continuation or a corrective pullback.
Any retracement towards the 50-day SMA or channel’s lower trendline could be closely monitored.
RSI may warrant attention for any potential bearish divergence if momentum weakens.
USD/CAD remains firmly within a bullish structure, supported by rising moving averages and strong momentum. The ascending channel provides a clear technical framework to follow.
-MW
USDCAD - Long after filling the imbalances !!Hello traders!
‼️ This is my perspective on USDCAD.
Technical analysis: Here we are in a bullish market structure from 4H timeframe perspective, so I look for a long. My point of interest is if price fills the imbalance lower and then rejects from bullish OB.
Fundamental news: On Tuesday (GMT+2) we will see results of CPI on CAD and on Wednesday Interest Rate on USD, followed by FOMC Conference.
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USDCAD long (about to make a higher low)The charts are indicating that USDCAD is about to turn upwards, making a bottom (ie: as part of its sequence of higher high and higher low). It is about to form that higher low. My trade is geared at getting in at the bottom of that higher low.
I have already set my limit orders so I can be in the trade when the price comes to my satisfactory price point.
