CADUSD trade ideas
USD/CAD BEARISH OUTLOOK!!Price is currently having a bearish-like structure in 60 minutes chart as we saw a massive supply in price from 1.36189. Price currently trade at 1.35036 we anticipate a bearish price action to develop away from that zone.
A sell opportunity is envisaged!
USDCAD - H4Hello People, Fx Dispenser HERE.
As we can see H4 structure is bullish, however momentum is bearish. If price breaks above "1.35171" we can expect a short term bullish reversal to around "1.35287", or "1.35490".
If price must continue to the down side, It must not break and close above 1.35490, if this happens, and price reaches previous highs, be wary of a liquidity sweep to the down side.
A break and close above previous highs would indicate bullish continuation.
My Bias is 'Short term bull reversal with a bearish continuation".
Analysis of USD/CAD: Bank of Canada Cuts Interest RateAnalysis of USD/CAD: Bank of Canada Cuts Interest Rate
Yesterday, the Bank of Canada reduced its key interest rate by 25 basis points to 4.25%. Its governor, Tiff Macklem, cited weak economic growth and suggested that a more substantial rate cut could be considered in the future.
While the rate cut was widely expected, the currency market reacted with a surge in volatility. For instance, on the USD/CAD chart:
→ On 3 September, ahead of the decision, the USD/CAD rate was climbing;
→ On 4 September, immediately after the announcement, the rate dropped sharply.
What could be the outlook for the exchange rate, which has fallen by approximately 3% from early August to the end of the month, breaking key resistance at 1.3600?
A technical analysis of the USD/CAD chart shows that the rate is best described by a downward red channel. The median line of this channel acted as resistance (shown by an arrow) earlier this week, pushing the rate towards the trendline (in blue), which had supported the rise from the lower boundary of the red channel. This support is further reinforced by the 1.3500 level.
It is therefore reasonable to assume that the market is reaching a temporary balance between buyers and sellers, leading to fluctuations in the USD/CAD rate between the red median line and the 1.3500 level. However, traders should remain cautious of a potential resurgence in bearish pressure, which dominated throughout August, as the 1.3500 level could again act as resistance.
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USDCAD 1H Analysis: Resistance and Support Levels to Watch for SThe chart shows the USDCAD currency pair on a 1-hour timeframe, where the price is currently trading around 1.35124. The market has been in a downtrend, but there is potential for short-term consolidation and a possible retracement before further movement.
Key Observations:
Downtrend Momentum: The price has been steadily declining from the recent high, reaching a lower support zone. The resistance level above (1.3600-1.3620) is expected to act as a key zone for any retracement.
Resistance Zones:
Immediate Resistance: The price might retest the 1.3600 area before continuing the downtrend. This level aligns with the previous structure and is an important area for sellers to enter.
Major Resistance: There is another significant resistance zone around 1.3850 where the price previously reversed, indicating strong selling pressure.
Support Zones:
Immediate Support: A potential move towards 1.34376 is indicated, where buyers could re-enter the market, and further price consolidation may occur.
Major Support: The level around 1.3300 is a significant support area, and a break below this level could lead to further downward momentum.
RSI Indicator: The RSI is showing bearish momentum, and the market may continue to push lower in the short term before any significant retracement occurs.
Expected Price Movement:
In the short term, the price could bounce back toward the 1.3600 resistance area before facing selling pressure. If it fails to break through, a decline toward the support level at 1.34376 and further down to 1.3300 is possible. On the other hand, a break above the resistance would invalidate the bearish bias, signaling further bullish movement.
This setup presents both short-term selling opportunities on retests of resistance zones and potential buying opportunities at support levels for a range-bound strategy.
USDCAD - Set and Forget1. Objective:
The objective is to enter a sell trade and ride the expected downward trend to the Wave 5 completion.
2. Key Levels:
Resistance Levels:
1.35880: Major resistance level (D1 R) above Wave 4.
Support Levels:
1.32672: Key support level (D1 S) and the expected completion of Wave 5.
Invalidation Level (Stop Loss):
1.35880, the resistance level, as a break above this would invalidate the expected downward move and signal that the Wave 4 correction is still in play.
3. Entry Strategy:
Entry Point (Sell Stop): 1.34990
This level is slightly below the current price and the confirmation sell stop level indicated on the chart, signaling the start of the bearish breakout.
4. Profit Targets:
First Target (Conservative): 1.34000
This is a minor level, providing a conservative target in case the move takes time to develop fully.
Second Target (Aggressive): 1.32672
This is the key support level (D1 S) and the expected completion of Wave 5, making it the aggressive target for the full downward move.
5. Stop Loss:
Stop-Loss Level: 1.35880
Set above the resistance level of 1.35880 to protect against further upward movement in case the analysis is invalidated.
6. Risk-Reward Ratio:
Risk: 89 pips (from 1.34990 entry to 1.35880 stop-loss).
Reward for Target 1: 99 pips (from 1.34990 entry to 1.34000).
Reward for Target 2: 232 pips (from 1.34990 entry to 1.32672).
Risk-Reward Ratio:
Target 1: 1:1.11 (for a conservative target, acceptable).
Target 2: 1:2.6 (for an aggressive target, highly favorable).
Conclusion:
Strategy: Enter a Sell Stop at 1.34990, with a stop-loss at 1.35880.
Profit Targets: First target at 1.34000 and second target at 1.32672.
This plan offers a strong risk-reward ratio, particularly when targeting the extended move to 1.32672, which aligns with the completion of Wave 5.
This trading plan provides a clear structure, strong risk management, and high probability of success based on the current wave structure analysis.
Trading Suggestion
Sell Stop
Entry Level: 1.34900
Stop Level: 1.35700
Profit Level: 1.32700
1.351 USDCAD SELL - Weak SetupThis setup I am looking for Sell if we have a bullish signal on todays news later for ADP NDP.
If there is enough push towards the up sight this might play out well.
If USDCAD break the low, than its a down trend overall.
As always DO you OWN research.
USDCAD Possible Short Position BBMA OA ReEntry Zone Zero Loss1H - Re-Entry
15m - 50 EMA Rejection + Bollinger Band Rejection
5m - Entry in MAHI
Note:
* Cancel trade or cut-loss when candle close Above MAHI (2 Green Color Lines) in 4H
* 1:3 RRR
* TAYOR
A combination of multiple moving averages and Bollinger Bands is the BBMA OMA Ally strategy. It provides an extensive and reliable examination of market trends and patterns by utilizing the strength of both indicators. It is a multi-time frame analysis
I am using the BBMA OA Reentry Zone Zero Loss Strategy as a basic reaction to recent market events, rather than attempting to forecast the market's future course
UsdcadWait for a breakout in any side.. if it breaks below, the downtrend continues if it breaks above then we have a change in trend to the upside.
Idea on a chartWe have a great trend.USD/CAD edges lower to near 1.3545 in Wednesday’s early Asian session.
US ISM Manufacturing PMI came in at 47.2 in August vs. 46.8 prior, missing the estimation.
The BoC is likely to cut rate at its September meeting on Wednesday.
The USD/CAD pair trades on a weaker note around 1.3545 during the early Asian session on Wednesday. The weaker-than-expected US ISM Purchasing Managers Index (PMI) drags the Greenback lower. The Bank of Canada (BoC) interest rate decision will be the highlight later on Wednesday, with a 25 basis points (bps) rate cut expected.
The business activity in the US manufacturing sector continued to contract, albeit at a softer pace in August. The US ISM Manufacturing PMI rose from an eight-month low in July at 46.8 to 47.2 in August. This figure was below the market consensus of 47.5 and register the lowest reading since November.
USDCAD ShortUSD/CAD near Supply Zone and DXY(us dollar index) show some short term sell so as per technically analysis market will fall from this level and also today event for usd and cad.
USDCAD Pre Canada Data..The Long Term trajectory the USDCAD has undertaken has been continuously sideways.
No real reason for extreme long side or short side impetus.
Any further CAD weakness and risk off sentiment likely will spur further moves to the upside.
Levels as drawn, preference taken at highs and lows.
From our previous Projection of the USDCADFrom our previous Projection of the USDCAD, Do you think the Cad will break the resistance level or Bears about to continue with the bearish trend at the resistance level?
USD/CAD H4 | Potential bullish breakoutUSD/CAD is rising towards a potential breakout level and could jump higher from here.
Buy entry is at 1.3575 which is a potential breakout level (wait for the 1-hour candle to close above the Buy Entry for confirmation).
Stop loss is at 1.3517 which is a level that lies underneath a pullback support.
Take profit is at 1.3699 which is an overlap resistance that aligns with the 50.0% Fibonacci retracement level.
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USDCAD will sell soonSTRATEGY;
Pricw is headind to a major resistance lvl on H4\H1, a Fib retracement lvl of 78.6, and respecting major and minor trend direction fro D1 to H1.
Long trade
Trade Details:
Date: Tuesday, 27th August 2024
Trade Type: Buyside trade
Time: 00:00 AM during the Tokyo Session
Time Frame:(15min TF)
Entry Level: 1.34807
Profit Level: 1.35742 (0.70%)
Stop Level: 1.34353 (0.34%)
Risk-Reward Ratio (RR): 2.48
usdcad longtermusdcad made a break of structure on daily chart and has dropped below 50% level, hence discount price. it might take weeks to hit the target but patience pays.
Possibility of uptrend As long as the price fluctuates above the green support zone, the uptrend is likely. Crossing the resistance range will confirm the upward trend
USDCAD IDEAUSDCAD SELL IDEA
On daily time frame there is broke of structure @1.35870 .And in H4 i marked the suppler zone
also in a lower time 30MIN the suppler also so our zone for the suppler will be at
1.35823-1.36026 where we can still see the suppler still strong
USDCAD EYES OPEN ON THE SHORTIn the last few weeks we have had a huge CAD sell-off, all the various high TF oscillators are showing an advanced oversold state, The dollar is still holding strong, despite everything that is happening.
All this makes me think we are close to a reversal, I will carefully observe these areas to position my shorts.
USDCAD - Make CAD Great AgainWith the world reopening, Canada will keep bringing in those black gold profits thus strengthening the CAD relative to the USD, which gaining power due to being the financial "central" currency.
A second wave of Covid-19 seems to be less likely day after day and this will help a lot to boost consumer confidence which goes hand in hand with consumer spending. So, we can expect a good recovery in general businesses overall, pushing up the major indexes like US30, NAS100 , GER30 etc which are usually correlated, positively, to pairs of the type XXX/USD, this mean, if one major index goes up, so are the other major indexes and so are the major pairs!
This being said, if XXX/USD goes up with a overall economic recovery, pairs like USD/XXX should go down and this brings me to USDCAD .
USDCAD used to roam the area between 1.24 and 1.36. As of right now we are on a descending triangle of the major timeframes.
A break from this triangle to the downside, could push us towards 1.36 area over the next few weeks / months.
I am personally looking for this break to the downside, I have intentions to hold a position for quite some time on this one.
Usdcad buy position setupChecklist:
1. Trend- Bullish
2. Momentum breakout☑️
3. Fair value gap ☑️
4. Liquidity sweep- Demand zone took out fvg before expansion☑️
1st target: Previous high
Extended downside movement. LongAnalysis: Price can be seen as extended in the daily time frame and lies at 50% range within the consolidation region which can be viewed as a support level. In the lower time frame, price broke out of a smaller consolidation region with an extended move. In this kind of scenario, price is likely to retrace towards the lower region of the consolidation.
Long opportunity: Long at market reopening towards 1.35483 as Take Profit - 1 level.
