USDCAD.PRO.OTMS trade ideas
USDCAD - More downside look likelyFrom an Elliott Wave perspective, it looks like more downside is probable on the USDCAD. We have two have count possibilities (white and red numbering) and both point to another leg lower that should take prices below the previous low of 1.3436. We could go short at the market with a stop above 1.3630 for a great R:R.
USDCAD for a long term sellUSDCAD has broken the long-term support and has retested it turning it to a resistance, the price is also testing the dynamic 200 Exponential Moving Average. Just wait for a structure shift on the lower time for entry. Follow for More
USDCAD: Looking for a reaction near a demand zoneI am looking for a bounce off the 1.3577 level (see 1H chart) on what I believe to be a demand zone. I will NOT be entering a trade until AFTER the US CPI data due for release at 12:30 GMT. I am looking for a hammer or engulfing candle pattern (on candle closure) as a signal to enter the trade and place my SL at 1.3560. TP will be 1.3600. If the price drops through the zone or I don't see the correct candle pattern I will scratch the trade. I will update later.
Uptrend It is expected that after the pullback to the support area, the continuation of the upward trend will be formed and it will advance to the specified resistance area. If the 78.6% level is broken, the continuation of the downward trend will be likely
USDCAD 4H slipping...By the price position since last month(August) the price seems to be in an uptrend correction after a strong fall from the beginning of August. It is not clear if this upward move it is just a correction or some trend change but sure to confirm a change the price needs to break the 1.36153 previous Support turned Resistance. The Daily support at 1.34392 still strong and the most relevant Resistance level is at 1.37868, probably the next target if price breaks the 1.36153. The RSI is just about to leave the overbought level what may indicates a possible pullback, even for a short drop to re-test the dynamic Support for the EMA(21). The drop of the Brent Oil has helped the USD in recovering some losses, as well as the risk appetite caused by the global economic turmoil pushing the investors for the “safe heaven” like USD or JPY.
USCCAD - Fan Breaks USDCAD is moving off the Demand Zone after a break of the Down Trend Line ( Fan1) .
Price has broken Structural Resistance and is now testing it as Support.
Look for a break of the second Fan Line , as price moves up to test the
Fibonacci .50 level. That would be the projected Fan 3 level.
The bias presently for this pair is Long.
USDCAD H4 | Bullish Bounce Based on the H4 chart analysis, we can see that the price is falling to our buy entry at 1.3564, which is a pullback support.
Our take profit will be at 1.3661, a pulllback resistance.
The stop loss will be placed at 1.3503, which is an overlap support level.
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USDCAD FORECASTThis pair is now at the key area, watch this video to see the possible scenario which may I have covered
USD/CAD Breaks Resistance: Eyeing Targets at 1.3615 and 1.3700USD/CAD has broken through the resistance level at 1.3530, signaling a potential upward move. The first target is at 1.3615, where we might see some initial resistance. If the momentum continues, the pair could reach the second target at 1.3700, marking a significant bullish trend. Traders should watch these levels closely for confirmation of the breakout and potential further gains.
USDCAD BullishUSDCAD was in a bearish trend and formed a divergence. Additionally, two negative news events related to the CAD suggest that USDCAD may shift to a bullish trend
Usdcad buy setup (CPI Wednesday)Price gave us a break above our recent key level on 4hr timeframe. We have here, pur 2hr chart with a good fair value gap and a demand below.
Checklist:
-Trend (Bullish)☑️
-Break of structure ☑️ (bullish)
-Fair value gap ☑️
- Demand zone ☑️
Goodluck 🌟
SELL USDCAD for downtrend continuation SELL USDCAD for downtrend continuation
There is a strong trend on the daily time frame and all that have happened in the past days was just consolidation ( or trend pull back before continuation) .....
The daily time frame is showing strength continuation from this level of support and resistance so we are looking for the trend to push forward from here .....
TAKE PROFIT : take profit will be when the trend comes to an end, feel from to send me a direct DM if you have any question about take profit or anything
Remember to risk only what you are comfortable with…….trading with the trend, patient and good risk management is the key to success here
USDCAD SELL WEEKLY TFWeekly TF Bearish shift of structure.
Price needs to retest and reject the resistance
area 1.36000 to take a sell.
2 Square Set-UpWeekly Bias: Bullish
1hr Chart Price showed an imbalance which shifted the market aggressively. After drawing a box on the hour chart of this imbalance candle. I went to the 15min chart where I noticed a FVG set up within this range. This is what I call a 2 Square Set Up.
Entry: Once price enters this area I will take the trade and place SL under the 1st candle of the FVG. Risk to Reward Ration=1:3
USDCAD Trade Idea I got that bullish bias last night before I went to sleep although I didn't take but EU was wrong and it was my analyse it from somewhere else it's what it is, I will not take that trades again, but hopefully USDCAD was a great trade.
USD/CAD Bullish Turnaround After One-Month DowntrendUSD/CAD is signaling a bullish reversal after a month-long bearish trend. The pair is expected to reach 1.36140 as its first target in this upward movement. Additionally, the RSI indicator failed to pull the price back from its overbought condition, providing extra strength to this bullish rally
Review of USDCAD tradesIf you refer back to our post on USDCAD, it went exactly as we anticipated.
That is, to expect a retracement closer to the 50MA and to drop down to the M15 charts to find favourable entry points. On this post, I will delve deeper on my entry processes and will share as much as I possibly can the entire thought process in my head.
USDCAD: Bearish Continuation & Short Signal
USDCAD
- Classic bearish setup
- Our team expects bearish continuation
SUGGESTED TRADE:
Swing Trade
Short USDCAD
Entry Point - 1.3592
Stop Loss - 1.3625
Take Profit - 1.3531
Our Risk - 1%
Start protection of your profits from lower levels
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M15 Intraday on USDCAD (repost)*REPOST*
(Previous one got removed)
Update: Price retraced into the range closer to 50MA. I will be dropping down to M15 charts to find a trade setup.
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With the upsurge move we’ve seen last Friday, it seems the uptrend for USDCAD seems decisive enough for me to confidently want to position myself as a buyer.
At this juncture however, I will be waiting for prices to retrace much closer to perhaps the 50MA and subsequently use the M15 trading setup for this particular trade. I will update if there is a favourable buy setup at a later time.
More on what caused the move last Friday:
The U.S. Dollar increased last Friday primarily due to stronger-than-expected economic data in the U.S. and Europe, which highlighted persistent inflationary pressures. This reinforced expectations that central banks, particularly the Federal Reserve, may maintain higher interest rates for longer. The release of positive U.S. PMI (Purchasing Managers' Index) data suggested that the economy remains resilient, which supported the dollar's strength as traders speculated on fewer or delayed rate cuts by the Fed.
Additionally, the market was anticipating the U.S. Personal Consumption Expenditures (PCE) inflation report, a key measure of consumer prices, which added to the demand for the dollar as investors positioned themselves ahead of this potentially market-moving data
USD/CAD trend suggests higher pricesUSDCAD is forming a mini inverse head and shoulders pattern that has developed over the last three days. A break above 135.80 could push the price up to 136.02. The short-term trend remains bullish as long as the price stays above 135.45.
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