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Canadian Dollar / U.S. Dollar

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CADUSD trade ideas

USD/CAD poised to resume higher after bouncing off trend supportFollowing today's stronger Canadian retail sales report, with headline sales coming in at +0.9% m/m vs. +0.3% expected, the Canadian dollar initially strengthened slightly. But later on we saw the US flash Services PMI come in well ahead of expectations at 57.0 vs. 55.2 eyed and 55.0 last. Though UoM Consumer Sentiment got revised lower unexpectedly to 71.8 from 73.0, this failed to weigh much on the dollar. The result? The USD/CAD managed to hold the support trend line and key support in the 1.3950-1.3970 zone. As a result, we could see the USD/CAD drift higher, aligning itself with other dollar pairs (e.g., EURUSD which has broken down sharply today). By Fawad Razaqzada, market analyst with FOREX.com
Long
by FOREXcom
USDCAD Will Move Higher! Buy! Take a look at our analysis for USDCAD. Time Frame: 6h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is approaching a significant support area 1.396. The underlined horizontal cluster clearly indicates a highly probable bullish movement with target 1.403 level. P.S Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all. Like and subscribe and comment my ideas if you enjoy them!
Long
by SignalProvider
1
Potential bearish drop?The Loonie (USD/CAD) has reacted off the pivot and could drop to the 1st support which acts as a pullback support. Pivot: 1.4041 1st Support: 1.3959 1st Resistance: 1.4105 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Short
by ICmarkets
USDCAD - The Make Up of An Average Trade With Big PotentialThis video is slightly different than the ones that I usually put out, but so is this opportunity. I'm looking for a HOMERUN trade here on the USDCAD & what that means is that I'm attempting to get in a trade that captures a larger profit target than what I would usually take. What's important to pay attention to is the top-down analysis & the why behind the decision, as well as the entry reason & the role it plays in my initial involvement. I hope you guys enjoy the video and if you have any questions or comments, please leave them below. Akil
Long
by Akil_Stokes
USDCAD H1 - Stress-Free Clear Charts.Stress-Free Clear Charts. (Required 10 years in R&D.) In this layout, we see these indicators: (From top to bottom of the screen) -Angle: Shows the Angle of the Trend. -Bear&Bull Powers: Displays who are in Power, the Bulls or the Bears. -Strength: Shows the Strength of the Trend. -Template: Always clearly shows the direction and precisely where to open and close (where to flip position). We open at the beginning of the Trend and stay in all the way till the end, stress-free. Turns perfectly. -Performance: We see where to enter and close, the pullbacks and the performance. -Odds: Shows the Odds everywhere. -Probability: Shows the Probability all the way. -Compare Forex: We see the performance of each currency of the Pair on chart. Each line is one currency. USD in Red. CAD in White. When the USD is above the CAD, the USDCAD pair goes up. And vice versa, when the USD is below the CAD, the USDCAD pair goes down. The background color displays the intensity of the trend.
by ascension