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Canadian Dollar / U.S. Dollar

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USD/CAD Trend During US Trading SessionUSD/CAD news: 🔆The USD/CAD pair rose to 1.4200 during the European session on Friday, after hitting a three-day low of 1.4166. The pair gained momentum as the US dollar recovered, with the US Dollar Index bouncing back near 106.65 after hitting a yearly low of 106.30 the previous day. 🔆However, the greenback's recovery appears to be temporary, as its risk premium eases while investors assess US President Donald Trump's tariff policies 🔆On monetary policy, Federal Reserve officials kept interest rates at current levels, citing uncertainty over Trump's trade and tax plans. 🔆Investors are now awaiting Canada's December Retail Sales data and a speech by BoC Governor Tiff Macklem at an event in Mississauga, Ontario. Personal opinion: 🔆The dollar continues to decline, mainly due to President Trump's unclear tariff policies. Although traders still believe that the Bank of Canada (BoC) will further loosen monetary policy. Technical analysis: 🔆Based on important support - resistance and Fibonacci levels combined with SMA indicator Plan: 🔆 Price Zone Setup: 👉Sell USD/CAD 1.4198 – 1.4215 ❌SL: 1.4255 | ✅TP: 1.4160 – 1.4120 – 1.4080 FM wishes you a successful trading day 💰💰💰
Short
by FM-ForexMastermind
1
Short I opened a short position based on the following reasons: 1)  Daily candle on the 13th Feb decisively broke and closed below the support line around 1.430 zone and created fair value gap.   2) The price retraced to the FVG area and closed below the area this morning (I am looking at 4H and 1H for this).    3) Both MACD and RSI in Daily and 4H are in the bear zone. 4) 4h MACD has just crossed in the bear zone and is moving to the downside.  5) 4H MACD is also showing hidden divergence which indicates the continuation of the down trend.  6) 4H EMA is below EMA 200 and the candle closed below EMA 21.  Entry price 1.4190 Stop Loss: 1.43 (just above EMA 200 in 4H.  It is a general stop and I will move it soon if the price moves to the downside) Profit target:  1.3975  (I might manually close it if the price struggles to go below 1.4000)  Risk: Reward is 1:1.65
Short
by EbonyFalcon
USDCAD key trading level at 1.4260The USDCAD currency pair intraday sentiment appears bearish, supported by the confirmed loss of support of the longer-term sideways consolidation trading range. However, since the spike caused by the possible tariff announcement on 03rd February 2024, the USDCAD price action is displaying signs of bearish behaviour. The key trading level is at 1.4260. An oversold rally from the current level and a bearish rejection at 1.4260 level could target additional downside support at 1.4150 followed by the 1. 4100 and 1.4025 levels over the longer timeframe. Alternatively, an oversold rally from the current levels and a confirmed breakout above 1.4260 resistance and a daily close above that level would negate the bearish outlook opening the way for a further rally and a retest of 1.4300 resistance followed by 1.4350 and 1.4400 levels. This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
by TradeNation
USDCAD FOR 100PIPS BULLISHconomic Data: If recent economic data (such as strong U.S. employment numbers, GDP growth, or inflation figures) are positive, it could support a stronger U.S. dollar. Oil Prices: Since Canada is a major oil exporter, a drop in oil prices may weaken the Canadian Dollar, making the U.S. dollar more attractive. Central Bank Policies: Any dovish stance from the Bank of Canada (such as rate cuts or reduced hawkishness) compared to a more hawkish Federal Reserve can also push the pair higher. Technical Analysis: If the chart shows a bullish trend, with key support levels holding, it could be a signal for further gains. Look for signs like bullish candlestick patterns, moving average crossovers, or support bounce off major levels.
Long
by LORDOFTHETRADERS
USD/CAD Slips—Fading Trade Fears, CPI in FocusUSD/CAD is trading heavy ahead of Canada’s inflation report, weighed down by softer US economic data and fading sticker shock from US trade policy headlines. With Canadian data impressing at rates not seen since mid-2024 and January’s steep reversal from 22-year highs increasingly resembling a cyclical top, the key question now is whether this marks the start of a more significant unwind of earlier USD/CAD gains. The price broke through multiple support levels last week after failing above the 50-day moving average, taking out 1.4270 and 1.4195 before retesting the latter from below over the past two sessions. Momentum indicators like RSI (14) and MACD continue to generate bearish signals, reinforcing the near-term bias being lower. Beyond 1.4195, downside levels include 1.4090, the December double bottom at 1.3932, and the 200-day moving average. On the upside, 1.4270 has acted as a cap for much of the past fortnight, alongside minor resistance at 1.4372. That zone could prove tough to crack this week without a major escalation in US trade tensions or an ice-cold Canadian inflation print. On Tuesday’s CPI report, the data will be skewed by a temporary GST holiday, potentially distorting the signal. That raises doubts about whether it will have enough weight to disrupt the prevailing USD/CAD trend. Good luck! DS
Short
by FOREXcom
USDCAD - Sell Opportunity After Support BreakOANDA:USDCAD has broken below a major support level, signaling a shift in momentum. If the price will retest the zone at 1.42600, which previously served as support, this area may now act as resistance, aligning with a potential bearish continuation. If sellers confirm resistance at this level, the price is likely to move downward toward the 1.41130 level, which represents a logical target for this setup. Conversely, a failure to hold resistance could suggest a potential bullish shift. Traders should monitor for bearish confirmation signals, such as bearish engulfing candles or increased selling volume, before considering short positions. Let me know your thoughts or any additional insights you might have!
Short
by DanieIM
USDCAD SHORT incomingUSDCAD looks to be setting up for a nice short, its not quite ready yet and needs to break this small consolidation range and then fail at around 1.46 which has a major resistance zone. The idea has a number of confluence points with the DXY looking top heavy and too coinciding movement hitting a major resistance above 110 at 113. NFP news was good for the dollar which we saw it pump. More fundamentals in the near future will determine the WHEN for this move to start. Technically we are poised for the reversal with a target of 1.39, a support area and 0.618 fib zone. Currently we are trading at the high end of the trend with the RSI stating overbought territory. This may not play out next week and may take another couple of weeks. Forth coming events are USD - inflation rate data and CPI. Do you own analysis and please let me know your thoughts.
Short
by PLaceUrBetsPlease