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Canadian Dollar / U.S. Dollar

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CADUSD trade ideas

Can 1.3633 Construct a Bottom?The USD/CAD exchange rate continues to maintain a (sideways) pattern, currently trading around 1.37. Although the US dollar is fundamentally supported by the boost from the US non-farm payroll data and the optimistic expectations of trade negotiations in major economies, the overall market sentiment remains cautious. The Canadian dollar is supported by the strengthening of crude oil prices, and the exchange rate trend presents a complex pattern of mixed long and short positions. In the short term, if the exchange rate can effectively break through 1.3800 and stabilize above this level, it will open up further upward space. The next targets may point to the middle track of Bollinger Bands at 1.3823 and the previous platform resistance area at 1.3900. However, if it is blocked again at the 1.3800 line and falls back, it will increase the market expectation of "making a new low after a technical rebound". At that time, the supports will focus on 1.3640 and the low point of 1.3633. If the latter is broken, it will open up the downward space to 1.3600 or even 1.3550. Humans need to breathe, and perfect trading is like breathing—maintaining flexibility without needing to trade every market swing. The secret to profitable trading lies in implementing simple rules: repeating simple tasks consistently and enforcing them strictly over the long term.
Long
by Ashbur
USD/CAD Breaks Through Multi-year Trend Support USD/CAD broke through a key pivot zone last week at 1.3721/94- a region defined by the 38.2% retracement of the 2021 advance and the 61.8% retracement of the late-2023 advance. The subsequent decline is now extending more than 2.9% off the May highs with initial support within striking distance. Weekly momentum has now dropped to the lowest levels since 2021 and a break of the 2021 uptrend (2022 trendline) threatens further losses ahead. Initial weekly support rests at the 1.618% extension of the February decline / 78.6% retracement of the late-2023 advance near 1.3504/23. Note that basic channel support converges on this threshold over the next few weeks and further highlights the technical significance of this zone (area of interest for possible downside exhaustion / price inflection IF reached). Subsequent support rests with the 2024 low-week clow (LWC) at 1.3360 and the 2023 LWC at 1.3218. Weekly resistance is now eyed back at 1.3721 & 1.3795. Broader bearish invalidation is now lowered to the 52-week moving average / 2022 swing high near ~1.3961/78- a breach / close above the yearly channel would ultimately be needed to suggest a more significant low is in place. Bottom line : USD/CAD has broken below multi-year uptrend support and threatens further losses in the weeks ahead. From a trading standpoint, look to reduce portions of short-exposure / lower protective stops on stretch towards 1.3523 IF reached- rallies should be limited to 1.3795 IF price is heading lower on this break with a close sub-1.35 needed to fuel the next major leg of the decline. -MB
by FOREXcom
USD/CAD - Bearish Flag (04.06.2025)The USD/CAD Pair on the M30 timeframe presents a Potential Selling Opportunity due to a recent Formation of a Bearish Flag Pattern. This suggests a shift in momentum towards the downside in the coming hours. Possible Short Trade: Entry: Consider Entering A Short Position around Trendline Of The Pattern. Target Levels: 1st Support – 1.3645 2nd Support – 1.3605 🎁 Please hit the like button and 🎁 Leave a comment to support for My Post ! Your likes and comments are incredibly motivating and will encourage me to share more analysis with you. Best Regards, KABHI_TA_TRADING Thank you. Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
Short
by KABHI_TA_TRADING
63
USDCAD → One step away from distributionFX:USDCAD is recovering amid the dollar's growth. Unemployment news is ahead. A return of the price to the buying zone may support the currency pair. Against the backdrop of the dollar's growth, a change in the market phase is forming (unconfirmed). The price has stopped updating lows and is forming an eql, from which it is breaking out of the downtrend. The initial retest of liquidity at 1.366 may end in a correction. However, a quick retest and consolidation of the price above the level will confirm the change in sentiment Resistance levels: 1.3686, 1.3732 Support levels: 1.3675, 1.366 Despite the fact that the price broke the downward resistance, the currency pair is still under pressure from sellers who are waiting for the price to fall from 1.3686. A breakout, a change in market sentiment to bullish, and consolidation above 1.3675-1.3686 will confirm readiness for a recovery. Zones of interest: eqh 1.3732 Best regards, R. Linda!
Long
by RLinda
6
Potential bearish drop for the Loonie?The price is rising towards the pivot, which is an overlap resistance, and could drop to the 1st support. Pivot: 1.3683 1st Support: 1.3590 1st Resistance: 1.3707 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 SHORT FORECAST Q2 W24 D13 Y25USDCAD SHORT FORECAST Q2 W24 D13 Y25 Professional Risk Managers👋 Welcome back to another FRGNT chart update📈 Diving into some Forex setups using predominantly higher time frame order blocks alongside confirmation breaks of structure. 💡Here are some trade confluences📝 ✅1H order block ✅HTF 50 EMA ✅Intraday bearish breaks of structure to be identified ✅15’ order block identified 🔑 Remember, to participate in trading comes always with a degree of risk, therefore as professional risk managers it remains vital that we stick to our risk management plan as well as our trading strategies. 📈The rest, we leave to the balance of probabilities. 💡Fail to plan. Plan to fail. 🏆It has always been that simple. ❤️Good luck with your trading journey, I shall see you at the very top. 🎯Trade consistent, FRGNT X
Short
by JCFRGNT
USDCAD Preparing for Major Breakout? | Key Levels + SetupUSDCAD is currently trading just below a key breakout zone at 1.36991, with strong demand holding the 1.36000 - 1.36800 range. --- 🔶 Technical Analysis: ✅ Support Zone (Demand): The 1.3600 - 1.3680 region has acted as a strong base for several weeks now, with repeated tests and rejections confirming institutional interest. ✅ Resistance to Watch: 1.36991 – immediate breakout level 1.39744 – mid-range target 1.42591 – major supply/TP2 area 🟣 Volume Profile & LuxAlgo S&D: Visible range & LuxAlgo show accumulation in the current zone, signaling a possible bullish reversal. Volume is increasing at key levels. 📉 Recent downtrend may be exhausted, as price forms a base and shows signs of strength from buyers. --- 🧠 Trade Idea: 🎯 Breakout Buy Setup: Entry: Above 1.3700 (confirmation of breakout) TP1: 1.3974 TP2: 1.4259 SL: Below 1.3640 (below demand zone) 📊 RR Ratio: ~1:2.5 --- ⚠️ Watch This: 📅 Upcoming USD news (marked below chart) could act as a catalyst 💥 Breakout above 1.3700 with volume = potential strong bullish rally --- 📌 Summary: USDCAD is consolidating in a high-demand area. A break above 1.3700 may trigger a bullish continuation targeting 1.3974 and possibly 1.4259. Patience and confirmation are key. 🚀 Are you watching this setup too? Drop your thoughts below! #USDCAD #Forex #Breakout #LuxAlgo #SmartMoney #TradingView #PriceAction #4HSetup #ForexSignals
Long
by FrankFx14
Bearish reversal off overlap resistance?USD/CAD is rising towards the resistance level which is an overlap resistance that lines up with the 23.6% and the 50% Fibonacci retracement and could reverse from this level to our take profit. Entry: 1.3691 Why we like it: There is an overlap resistance that lines up with the 23.6% and the 50% Fibonacci retracement. Stop loss: 1.3738 Why we like it: There is a pullback resistance level that is slightly below the 50% Fibonacci retracement. Take profit: 1.3635 Why we like it: There is a pullback support level. Enjoying your TradingView experience? Review us! Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Short
by VantageMarkets
USDCAD SHORT FORECAST Q2 W24 D12 Y25USDCAD SHORT FORECAST Q2 W24 D12 Y25 Professional Risk Managers👋 Welcome back to another FRGNT chart update📈 Diving into some Forex setups using predominantly higher time frame order blocks alongside confirmation breaks of structure. 💡Here are some trade confluences📝 ✅4H order block rejection ✅HTF 50 EMA ✅Intraday bearish breaks of structure to be identified ✅15’ order block identified 🔑 Remember, to participate in trading comes always with a degree of risk, therefore as professional risk managers it remains vital that we stick to our risk management plan as well as our trading strategies. 📈The rest, we leave to the balance of probabilities. 💡Fail to plan. Plan to fail. 🏆It has always been that simple. ❤️Good luck with your trading journey, I shall see you at the very top. 🎯Trade consistent, FRGNT X
Short
by JCFRGNT
USD/CAD) Bearish trand analysis Read The captionSMC trading point update Technical analysis of USD/CAD on the 3-hour timeframe reflects a bearish market outlook. Here’s a breakdown of the idea: --- Trend Overview: The pair is in a clear downtrend, confirmed by: Lower highs and lower lows Price trading below the 200 EMA A bearish flag pattern in play --- Key Zones & Levels: 1. Resistance Zones (Yellow boxes): Upper zone (~1.3835 area): Previously tested and rejected (marked by the red arrow). Mid-zone (~1.3745 area): Labeled as a resistance level, previously support turned resistance. 2. Support Zone: The price is heading toward a projected target point at ~1.35584, which aligns with previous support. --- Bearish Confirmation: The price attempted a retracement but failed to break above the resistance level. The structure shows a bearish continuation pattern, suggesting a move downward is likely. --- Indicators: RSI (Relative Strength Index): Currently near 37, not oversold yet, but suggests bearish momentum is still strong. Also shows slight bearish divergence (lower highs on RSI while price was consolidating). --- Projection/Trade Idea: Scenario: Break and retest of the current level (~1.3679), with a continuation to the target at 1.35584. Risk Areas: Any break above 1.3745 could invalidate the setup. Confirmation: A clean bearish candle below the minor support could confirm entry for short sellers. Mr SMC Trading point --- Summary: This is a supply-and-demand + structure-based bearish setup. The market is showing weakness below resistance, and the next logical target is 1.35584, barring any macroeconomic reversal (e.g., USD or CAD news). Please support boost 🚀 this analysis)
Short
by SMC-Trading-Point
16