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Canadian Dollar / U.S. Dollar

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CADUSD trade ideas

USDCAD POTENTIAL SHORT OPPORTUNITYHello Everyone! How are you all? UsdCad is a pair to watch this week, because it is shaping up very nicely for a bearish trend continuation that we can capitalize on. So, I will be looking for a bearish continuation because of the following reasons: 1. Strong Rejection of the AOI and Sell Impulse move. 2. The price has formed a sell structure in the form of HnS. 3. The price is approaching the value area on the LTF. Game Plan: If the price comes to the VA, and rejects at that level or sweeps the High. Entry : will look for a risk sell entry within the flag.
Short
by DTreasureMarketHub
USDCAD: Three days short traders in the market, inside dayHi everyone and welcome to my channel, please don’t forget to support all my work subscribing and liking my post, and for any question leave me a comment, I will be more than happy to help you! “Trade setups, not movements” 1. DAY OF THE WEEK (Failed Breakout, False Break, Range Expansion) Monday DAY 1 Opening Range Tuesday DAY 2 Initial Balance Wednesday DAY 3 (reset DAY 1) Mid Point Week Thursday DAY 2 Friday DAY 3 Closing Range ✅ 2. SIGNAL DAY First Red Day First Green Day 3 Days Long Breakout 3 Days Short Breakout ✅ Inside Day ✅ 3. WEEKLY TEMPLATE Pump&Dump Dump&Pump ✅ Frontside Backside 4. THESIS: Long: primary, three days of short traders in the market, inside day, LOW triggered, all signals that can give us a clue of a potential reversal after the news 8:30am. The market looks like squeezing into the LOW and if a setup will present, chances are also very high to reach and stop the HOW for a weekly dump and pump scenario. Short: secondary, day 3 short can also blow off into the direction of the main trend, but at the moment I'm interested mostly in the long view. Please note that the purpose of my analysis is to help me and you hunting the best trade setup for the day, none of my technical aspects are a way to forecast any directional market movement. Gianni
Long
by GianniPichichero
8
Canadian dollar rallies, jobs report loomsThe Canadian dollar has shined this week, posting gains over the past four days and rising 1%. Will the impressive rally continue? In the North American session, USD/CAD is trading at 1.3732, unchanged on the day. Canada wraps up the week with the July employment report. The June report was soft, with job growth coming in at -1.4 thousand, a rare decline. The markets are expecting strong turnaround today, with an estimate of 26.9 thousand. The flip side is that the unemployment rate is expected to nudge up to 6.5%, compared to 6.4% in June. If the employment report is a mix as expected, it will be interesting to see how investors respond. The Bank of Canada will be watching closely as it looks to the next meeting on September 4. The BoC has led the recent global trend of lowering rates, having trimmed rates by a quarter-point at each of the past two meetings. If the labour market shows further signs of cooling, it will support the case to lower rates again, perhaps as early as September. The Federal Reserve is virtually guaranteed to cut rates when its meets on September 18 and this will make it easier for the BoC to cut without putting downward pressure on the Canadian dollar. In the US, weaker economic data and the meltdown in the global stock markets has raised expectations of a half-point cut from the Fed in September. The probability of that scenario, only 3% a month ago, has soared to 54.5%, according to the CME’s FedWatch. The market slide led to calls for an emergency rate cut, but the US stock market has rebounded this week. Still, there is an uneasy calm as fears persist that the US economy is showing signs of deteriorating quickly and the sell-off could reignite if the US posts weak data. 1.3746 is a weak resistance line, followed by 1.3809. There is support at 1.3704 and 1.3679
by OANDA
Bearish momentum to extend?USD/CAD has reacted off the resistance level which is an overlap resistance and could drop to our take profit. Entry: 1.3755 Why we like it: There is an overlap resistance level. Stop loss: 1.3805 Why we like it: There is a pullback resistance level which aligns with the 38.2% Fibonacci retracement. Take profit: 1.3664 Why we like it: There is a pullback support level that lines up with the 78.6% Fibonacci retracement. 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 Bullish flag forming possiblyOn the photo you can see all the price levels. Overall USDCAD has been strongly bearish movement but price has a had a short term bullish move. Currently I am seeing a bullish flag forming. Price is coming back to a very strong Weekly and Daily support area. I will be looking for longs at this price Lvl as I believe we might see a reversal in trend. Also we have news that is looking for strong for USD that I believe might help push the reversal. Happy trading. This coming week is going to be very interesting.
Long
by RobertTMFX
Double Bottom Pattern in USD/CADAs you can see, a double bottom pattern has formed in the USD/CAD currency pair, presenting a valuable trading opportunity. 📈 Given the current trend's weakness and the fact that we are in the 61.8% Fibonacci retracement area of the previous larger move, this setup looks promising. 📉 A move beyond the pattern's target range would signify a complete trend reversal and a retest of the main daily resistance. 🚀 💡 Don't miss out on this potential trade! Like, comment, and share your thoughts below. #USD #CAD #Forex #Tradecitypro #TCP #DoubleBottom #Fibonacci #TrendReversal
by tradecitypro