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USD/CAD (OANDA EU Clients)

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USDCAD.PRO.OTMS trade ideas

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
USD/CAD "The Loonie" Bank Money Heist Plan on Bearish SideOla! Ola! My Dear Robbers / Money Makers & Losers, 🤑💰 This is our master plan to Heist USD/CAD "The Loonie" Bank based on Thief Trading style Technical Analysis.. kindly please follow the plan I have mentioned in the chart focus on Short entry. Our target is Near the Green Zone that is High risk Dangerous level, market is oversold / Consolidation / Trend Reversal / Trap at the level Bullish Robbers / Traders gain the strength. Be safe and be careful and Be rich 💰. Entry 👇 📉: Can be taken Anywhere, What I suggest you to Place Sell Limit Orders in 15mins Timeframe, Recent / Nearest High Point. Stop Loss 🛑: Recent Swing High using 30m timeframe Attention for Scalpers : Focus to scalp only on Short side, If you've got a money you can get out right away otherwise you can join with a swing trade robbers and continue the heist plan, Use Trailing SL to protect our money 💰. Warning : Fundamental Analysis news 📰 🗞️ comes against our robbery plan. our plan will be ruined smash the Stop Loss 🚫🚏. Don't Enter the market at the news update. Loot and escape on the target 🎯 Swing Traders Plz Book the partial sum of money and wait for next breakout of dynamic level / Order block, Once it is cleared we can continue our heist plan to next new target. 💖Support our Robbery plan we can easily make money & take money 💰💵 Follow, Like & Share with your friends and Lovers. Make our Robbery Team Very Strong Join Ur hands with US. Loot Everything in this market everyday make money easily with Thief Trading Style. Stay tuned with me and see you again with another Heist Plan..... 🫂
Short
by Thief_Trader
USD/CAD: Eyes on inflation as reversal sets stage for downsideThe Canadian dollar delivered a reversal signal against the greenback on Monday, with USD/CAD printing a bearish engulfing candle on the daily chart. After trading within an uptrend since early November, this suggests directional risks could be turning, even if momentum indicators like RSI (14) and MACD are yet to confirm. USD/CAD briefly tried to bounce during the Asian session but stalled at 1.4034, the low from last Friday. For those considering shorts, this level provides a decent setup, allowing for entry beneath with a tight stop above for protection. To make the trade stack up from a risk/reward perspective, it will require the price to break minor support at 1.4003 first, opening the path toward 1.3959, a level that acted as resistance in late October and early November. Today’s inflation report is a standout in a slow global data week. The annual CPI rate is expected to climb from 1.6% to 1.9% in October, nearing the midpoint of the Bank of Canada’s (BoC) 1-3% target range. Core inflation, which is the average of Statistics Canada’s trim and median CPI readings, is expected to print at 2.4%, slightly above September’s pace. With the BoC forecasting core inflation of 2.3% by December, a result in line with market expectation should do little to diminish the view that further rate cuts are in the pipeline. However, an upside surprise could see the BoC start to slow the pace of easing. Such an outcome would improve the prospects of the trade succeeding. Good luck! DS
Short
by FOREXcom
USD/CAD breaks 1.41000 as CAD weakens to near 4yr lowsThe USD/CAD pair has reached 1.41057, the CAD's lowest since May 2020, driven by strong US dollar demand amid market speculation about Trump's return. Inflation-driven policies could limit the Fed's rate cut capacity, bolstering the dollar. Additionally, falling oil prices and concerns over China’s economic growth weigh on the Canadian dollar, given Canada's reliance on exports and energy. Potential US import sanctions add pressure by threatening Canadian exports. Despite these challenges, Canada's economy shows resilience with lower-than-expected unemployment and strong PMI data, limiting further CAD declines. The US dollar index hovers around 106.5, fueled by robust retail sales and economic strength, reducing the urgency for imminent rate cuts. Looking ahead, traders should monitor US policy changes, oil price trends, and Canadian economic indicators to anticipate movements in USD/CAD effectively.
by tastyfx
Sell OpportunityUSD/CAD Short Signal Entry Price: 1.4035 Stop Loss: 1.40716 Take Profit: 1.38148 Risk/Reward Ratio: 1:1.59 Time Frame: 4H Signal Analysis: The price has reached a potential resistance area, with a visible bearish volume profile zone above. Momentum indicators show signs of potential weakness, suggesting a pullback or reversal in the USD/CAD pair. Recommendation: Consider entering a short position at the specified entry price, with a stop loss at 1.40716 and a target of 1.38148. Monitor any changes in volume and volatility, as they may affect the trade outcome.
Short
by GODOCM
USDCAD BULLISH PROFITABLE IDEA#USDCAD is at a bullish sentiment, what we can do from the previous price action is observed the previous Break of structure in the bullish direction. It is important to note hoe the break of structure took place , and as we see there was formation o structure which resulted in an impulsive market action resulting to the break, this area has been untapped till now of any pending liquidity in support of the bullish trend What to do ? Wait or the price action to mitigate this area and look for a suitable entry position based on your entry techniques, esp before the news. #all the best.
Long
by DIGITALASSETSINC
USD/CAD: The Breakout Beast Ready to Crush 1.42 Ladies and gentlemen, meet the USD/CAD – your favorite currency pair's favorite currency pair. 🎯📈" The Head and Shoulders Gym Session: Classic Head and Shoulders pattern in play here. Left shoulder? 💪 Bulging. Head? 🧠 Standing tall. Right shoulder? 🤷‍♂️ Trying to keep up, but hey, it tried. That breakout above the neckline? 🔥 The USD is basically yelling, “I’m not just a pretty chart; I’m a trendsetter. 🚀” Support and Resistance – The Classic Frenemies: The 1.40 level is the VIP rope 🪩 – it’s been tough to get past, but the USD is muscling through. 💥 If this party keeps going, the next stop is 1.42 🏔️, where resistance might throw another temper tantrum. 😅 RSI – Overachieving Much? RSI above 70? 😎 This pair is flexing harder than a bodybuilder on stage. 💪 But be warned: markets hate staying in extremes too long. 📉 A pullback could bring it back to Earth. 🌍 Trendline Up, Confidence Up: That dotted upward-sloping trendline? ✨ It’s like a personal trainer yelling, “Keep pushing higher! 🏋️‍♀️” Recent movements suggest USD/CAD is feeling the hype. 🔝 🎲 Prediction Time: If 1.40 holds: fireworks to 1.42 and beyond. 🎇 Bulls are partying hard 🐂💃, and the bears? They’re packing for a vacation. 🐻✈️ But if it falters? 😬 Back to the grind below, maybe chilling at 1.38 like it’s Netflix and consolidation time. 📺📉 This chart is screaming bullish vibes louder than a Friday night karaoke session. 🎤🎶 But remember, overconfidence kills trends faster than a bad DJ clears a dance floor. 🛑 Let’s see if the USD keeps climbing or hits gravity hard. “USD/CAD, are you ready to go the distance, or will gravity call you back? 🚀🌍”
Long
by EdgeDotForex
USDCAD - CAD look at the oil market!The USDCAD currency pair is above the EMA200 and EMA50 in the 4H timeframe and is moving in its upward channel. Due to the location of this currency pair at the ceiling of the channel, you can save a part of your purchase position. The correction of this currency pair towards the demand zones will provide us with the next buying positions. Monetary Policy in Canada • Interest Rate Cuts: Goldman Sachs forecasts that the Bank of Canada will cut interest rates by 50 basis points in December (previous forecast: 25 basis points). It is expected that this downward trend will continue, reaching a terminal rate of 2.25% by June 2025 (previous forecast: 2.50%). Oil Developments in the U.S. • Crude Oil Production: U.S. crude oil production has reached 13.23 million barrels per day this year, slightly higher than the previous figure of 13.22 million. For 2024, production is forecasted at 13.53 million barrels per day (a minor decrease from the previous forecast of 13.54 million barrels). • Crude Oil Prices: The average price of Brent oil in 2024 is projected at $80.95 per barrel (slightly higher than the previous forecast of $80.89). For 2025, the average is expected to decline to $76.06 per barrel (previous forecast: $77.59). The average price of West Texas Intermediate (WTI) oil is estimated at $77 per barrel in 2024 and $71.6 in 2025, slightly below earlier projections. Oil Demand: • U.S. oil demand for 2024 and 2025 is estimated at 20.3 million and 20.5 million barrels per day, unchanged from previous forecasts. OPEC and Production Adjustments: • Lower Global Demand Growth Forecasts: OPEC has reduced its forecasts for global oil demand growth in 2024 and 2025 to 1.82 and 1.54 million barrels per day, respectively (previous forecasts: 1.93 and 1.64 million). • Increased OPEC Production: OPEC’s average crude production in October rose to 26. 53 million barrels per day, a 466,000-barrel increase from September, primarily due to higher output from Libya. Geopolitical Issues and Iran’s Oil Policies • Iran’s Response to Sanctions: Iran’s oil minister announced that plans have been developed to maintain stable oil exports to counter potential policies from Donald Trump’s administration. • Negotiations Between Iran and the U.S.: Iranian sources reported that Tehran postponed an attack on Israel after Trump’s election to facilitate potential negotiations. Messages conveyed through Baghdad included recommendations to avoid escalating tensions and create an opportunity for talks. Developments in Lebanon and Israel • Ceasefire negotiations in Lebanon are nearing conclusion. Israeli sources have confirmed alignment between the U.S. and Israel on the ceasefire agreement. However, Lebanon’s situation remains complex, with ongoing discussions between Hezbollah, the parliament speaker, the prime minister, and U.S. officials.
Long
by Ali_PSND
Canadian CPI Inflation Accelerates in OctoberCanadian CPI Inflation Accelerates in October; Boc Still Likely to Cut Rates Policymakers ‘may’ think twice about reducing the overnight rate by another 50 basis points (bps) next month following inflation accelerating to the upside. I emphasise the word ‘may’ here. According to the October CPI inflation report (Consumer Price Index) released by Statistics Canada, headline YY (Year on Year) CPI inflation increased to 2.0%. This marked its first acceleration in five months, rising from 1.6% in September (north of economists’ expectations of 1.9%) and immediately sent the Canadian dollar (CAD) northbound. The release noted that gasoline prices fell less last month (4.0%), following September’s fall of 10.7%, ultimately bolstering headline inflation. In addition to this, the report also showed that shelter prices eased further, rising 4.8% from 5.0% in September. However, food (purchased from stores) showed prices accelerated by 2.7% from September’s reading of 2.4%. BoC Eyeing a 50 Basis Point Cut? The Bank of Canada (BoC) has reduced its overnight rate by 125 basis bps since June, and along with the previous meeting’s bumper 50 bp cut, the central bank’s Governor, Tiff Macklem, left the door wide ajar for further policy easing. Despite higher-than-expected inflation, price pressures remain around the BoC’s 2.0% mid-point inflation band of 1-3%. And we must remember that while it does show inflation increased, the rise in prices is largely in line with what the BoC expected according to their latest forecasts: ‘The Bank expects inflation to remain close to the target over the projection horizon, with the upward and downward pressures on inflation roughly balancing out’. This may explain the Canadian dollar’s swift correction in the CAD and the absence of follow-through after the release. Markets are still pricing in around 32 bps of easing for the BoC’s next policy decision – largely unchanged compared to before the release of inflation numbers. So, in my opinion, with the economy still weak, a loose labour market and inflation at target, the BoC cutting rates by another 50 bps remains a possibility next month. BoC’s Preferred Measures Increase Between September and October, inflation also increased to 0.4%, bettering the market’s median estimate for a 0.3% rise and above the previous 0.4% decline. The BoC’s preferred measures of inflation also accelerated to the upside. The CPI Median rose 2.5% from 2.3% in September (consensus: 2.4%), while the CPI Trim measure rose 2.6% from 2.4% in September (consensus: 2.4%). Therefore, the average pace of inflation between these two measures is 2.55%, up from 2.35% in September. Additionally, the CPI Common measure was higher at 2.2%, up from 2.1% in September. Where Does This Leave the USD/CAD? With oil prices lower and positioning for the CAD also low (according to CFTC data), as well as the central bank expected to continue easing policy and the Fed’s moderately hawkish commentary, the recent upside in USD/CAD should not be a surprise. However, while the USD/CAD is biased to the upside and has been for some time now, a correction is in play, and the recent inflation numbers added to the possibility of further downside. Technically, support on the weekly timeframe from C$1.3945 and C$1.3843 and two neighbouring support levels on the daily timeframe (C$1.3866 and C$1.3877) could be worth noting and possibly lend a floor for buyers to work with should the unit reach this far south. Shorter-term flow shows H1 price hovering just ahead of support from C$1.3959, which happens to be a level that converges with a reasonably long-term trendline support, extended from the low of C$1.3472, and a 50% retracement ratio coming in from C$1.3960. What’s also technically appealing for C$1.3959 support is the weekly support coinciding closely with the level at C$1.3945. As a result, this area on the charts could have USD/CAD buyers return to the fold if tested. Written by FP Markets market analyst Aaron Hill.
Long
by FPMarkets