USD/CAD BEARISH OUTLOOK Price trades at 1.35628 it may continue to trade on shorterm bearish trend for a while upto the area of 1.32254 before we can have a rebound.
A buy opportunity is envisaged from the area of 1.32254 level.
USDCAD.PRO.OTMS trade ideas
USDCAD Will Fall! Sell!
Take a look at our analysis for USDCAD.
Time Frame: 2h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is trading around a solid horizontal structure 1.357.
The above observations make me that the market will inevitably achieve 1.355 level.
P.S
We determine oversold/overbought condition with RSI indicator.
When it drops below 30 - the market is considered to be oversold.
When it bounces above 70 - the market is considered to be overbought.
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USD_CAD BEARISH BIAS|SHORT|
✅USD_CAD has been growing recently
And the pair seems locally overbought
So as the pair is approaching a horizontal resistance of 1.3600
Price decline is to be expected
SHORT🔥
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USDCAD Is Approaching An Important SupportHey Traders, in today's trading session we are monitoring USDCAD for a buying opportunity around 1.34800 zone, USDCAD is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 1.34800 support and resistance area.
Trade safe, Joe.
USDCAD Sell ScenarioToday, we will analyze USDCAD
Specific explanations are provided for each zone and movement on the chart. If you have any opinions, feel free to share them in the comments section.
Please note that this analysis is not intended as financial advice. Each individual should assume responsibility for their own trades. The purpose of this post is to provide ideas and inspiration, encouraging readers to view the chart from different perspectives. Always conduct your own research and analysis before making any trading decisions.
USDCAD - Losing Steam - Shorting the Mid RetestI’ve been tracking this one for a while, and I believe it’s time to short this area after the significant bearish signal right at the top, which resulted in a failed breakout.
After several months of accumulation and various breakout attempts that ultimately fell back into the range, it has now dropped below the mid-level. For me, this is a clear short signal.
If it reclaims the mid-level solidly before my invalidation point, I’ll consider closing my position manually. For now, I’m targeting the range low.
Change the trend A reversal is expected to form in the specified resistance range and the beginning of the downtrend is formed, then it can advance to the specified support levels.
Sell Trade Idea for USD/CADDescriptions
The USD/CAD pair, representing the exchange rate between the U.S. Dollar (USD) and the Canadian Dollar (CAD), presents a potential sell opportunity driven by several key fundamentals:
- **Rising Oil Prices:** As one of the world's largest oil producers, Canada’s currency tends to strengthen when oil prices rise. With increasing global demand and supply constraints, higher oil prices could boost the CAD, weakening the USD/CAD pair.
- **Canadian Economic Resilience:** Canada's economy is showing strong resilience, especially in sectors like commodities and natural resources. This could lead to a stronger Canadian Dollar, contributing to downward pressure on USD/CAD.
- **U.S. Inflation Concerns:** Inflationary pressures in the U.S. may weigh on the USD, especially if they lead to uncertainty around future monetary policy. This could weaken the U.S. Dollar relative to the Canadian Dollar.
- **Bank of Canada’s Hawkish Stance:** With the Bank of Canada signaling potential rate hikes to combat inflation, the CAD may benefit from increased investor confidence, further pushing USD/CAD lower.
Given these economic conditions, a sell trade on USD/CAD may provide an opportunity to benefit from a stronger Canadian Dollar in the short to medium term.
Disclaimer
Trading in the forex market involves significant risk and may result in substantial losses. The content provided here is for informational purposes only and should not be considered financial advice. Forex trading is highly speculative, and currency prices can be influenced by a range of economic, geopolitical, and market factors. Always perform your own due diligence, assess your risk tolerance, and consult with a financial advisor before making any trading decisions. Past performance is not indicative of future results.
USD/CAD BEARISH OUTLOOK!!Price is currently having a bearish-like structure in 60 minutes chart as we saw a massive supply in price from 1.36189. Price currently trade at 1.35036 we anticipate a bearish price action to develop away from that zone.
A sell opportunity is envisaged!
USDCAD - H4Hello People, Fx Dispenser HERE.
As we can see H4 structure is bullish, however momentum is bearish. If price breaks above "1.35171" we can expect a short term bullish reversal to around "1.35287", or "1.35490".
If price must continue to the down side, It must not break and close above 1.35490, if this happens, and price reaches previous highs, be wary of a liquidity sweep to the down side.
A break and close above previous highs would indicate bullish continuation.
My Bias is 'Short term bull reversal with a bearish continuation".
Analysis of USD/CAD: Bank of Canada Cuts Interest RateAnalysis of USD/CAD: Bank of Canada Cuts Interest Rate
Yesterday, the Bank of Canada reduced its key interest rate by 25 basis points to 4.25%. Its governor, Tiff Macklem, cited weak economic growth and suggested that a more substantial rate cut could be considered in the future.
While the rate cut was widely expected, the currency market reacted with a surge in volatility. For instance, on the USD/CAD chart:
→ On 3 September, ahead of the decision, the USD/CAD rate was climbing;
→ On 4 September, immediately after the announcement, the rate dropped sharply.
What could be the outlook for the exchange rate, which has fallen by approximately 3% from early August to the end of the month, breaking key resistance at 1.3600?
A technical analysis of the USD/CAD chart shows that the rate is best described by a downward red channel. The median line of this channel acted as resistance (shown by an arrow) earlier this week, pushing the rate towards the trendline (in blue), which had supported the rise from the lower boundary of the red channel. This support is further reinforced by the 1.3500 level.
It is therefore reasonable to assume that the market is reaching a temporary balance between buyers and sellers, leading to fluctuations in the USD/CAD rate between the red median line and the 1.3500 level. However, traders should remain cautious of a potential resurgence in bearish pressure, which dominated throughout August, as the 1.3500 level could again act as resistance.
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USDCAD 1H Analysis: Resistance and Support Levels to Watch for SThe chart shows the USDCAD currency pair on a 1-hour timeframe, where the price is currently trading around 1.35124. The market has been in a downtrend, but there is potential for short-term consolidation and a possible retracement before further movement.
Key Observations:
Downtrend Momentum: The price has been steadily declining from the recent high, reaching a lower support zone. The resistance level above (1.3600-1.3620) is expected to act as a key zone for any retracement.
Resistance Zones:
Immediate Resistance: The price might retest the 1.3600 area before continuing the downtrend. This level aligns with the previous structure and is an important area for sellers to enter.
Major Resistance: There is another significant resistance zone around 1.3850 where the price previously reversed, indicating strong selling pressure.
Support Zones:
Immediate Support: A potential move towards 1.34376 is indicated, where buyers could re-enter the market, and further price consolidation may occur.
Major Support: The level around 1.3300 is a significant support area, and a break below this level could lead to further downward momentum.
RSI Indicator: The RSI is showing bearish momentum, and the market may continue to push lower in the short term before any significant retracement occurs.
Expected Price Movement:
In the short term, the price could bounce back toward the 1.3600 resistance area before facing selling pressure. If it fails to break through, a decline toward the support level at 1.34376 and further down to 1.3300 is possible. On the other hand, a break above the resistance would invalidate the bearish bias, signaling further bullish movement.
This setup presents both short-term selling opportunities on retests of resistance zones and potential buying opportunities at support levels for a range-bound strategy.
USDCAD - Set and Forget1. Objective:
The objective is to enter a sell trade and ride the expected downward trend to the Wave 5 completion.
2. Key Levels:
Resistance Levels:
1.35880: Major resistance level (D1 R) above Wave 4.
Support Levels:
1.32672: Key support level (D1 S) and the expected completion of Wave 5.
Invalidation Level (Stop Loss):
1.35880, the resistance level, as a break above this would invalidate the expected downward move and signal that the Wave 4 correction is still in play.
3. Entry Strategy:
Entry Point (Sell Stop): 1.34990
This level is slightly below the current price and the confirmation sell stop level indicated on the chart, signaling the start of the bearish breakout.
4. Profit Targets:
First Target (Conservative): 1.34000
This is a minor level, providing a conservative target in case the move takes time to develop fully.
Second Target (Aggressive): 1.32672
This is the key support level (D1 S) and the expected completion of Wave 5, making it the aggressive target for the full downward move.
5. Stop Loss:
Stop-Loss Level: 1.35880
Set above the resistance level of 1.35880 to protect against further upward movement in case the analysis is invalidated.
6. Risk-Reward Ratio:
Risk: 89 pips (from 1.34990 entry to 1.35880 stop-loss).
Reward for Target 1: 99 pips (from 1.34990 entry to 1.34000).
Reward for Target 2: 232 pips (from 1.34990 entry to 1.32672).
Risk-Reward Ratio:
Target 1: 1:1.11 (for a conservative target, acceptable).
Target 2: 1:2.6 (for an aggressive target, highly favorable).
Conclusion:
Strategy: Enter a Sell Stop at 1.34990, with a stop-loss at 1.35880.
Profit Targets: First target at 1.34000 and second target at 1.32672.
This plan offers a strong risk-reward ratio, particularly when targeting the extended move to 1.32672, which aligns with the completion of Wave 5.
This trading plan provides a clear structure, strong risk management, and high probability of success based on the current wave structure analysis.
Trading Suggestion
Sell Stop
Entry Level: 1.34900
Stop Level: 1.35700
Profit Level: 1.32700
1.351 USDCAD SELL - Weak SetupThis setup I am looking for Sell if we have a bullish signal on todays news later for ADP NDP.
If there is enough push towards the up sight this might play out well.
If USDCAD break the low, than its a down trend overall.
As always DO you OWN research.
USDCAD Possible Short Position BBMA OA ReEntry Zone Zero Loss1H - Re-Entry
15m - 50 EMA Rejection + Bollinger Band Rejection
5m - Entry in MAHI
Note:
* Cancel trade or cut-loss when candle close Above MAHI (2 Green Color Lines) in 4H
* 1:3 RRR
* TAYOR
A combination of multiple moving averages and Bollinger Bands is the BBMA OMA Ally strategy. It provides an extensive and reliable examination of market trends and patterns by utilizing the strength of both indicators. It is a multi-time frame analysis
I am using the BBMA OA Reentry Zone Zero Loss Strategy as a basic reaction to recent market events, rather than attempting to forecast the market's future course
UsdcadWait for a breakout in any side.. if it breaks below, the downtrend continues if it breaks above then we have a change in trend to the upside.
Idea on a chartWe have a great trend.USD/CAD edges lower to near 1.3545 in Wednesday’s early Asian session.
US ISM Manufacturing PMI came in at 47.2 in August vs. 46.8 prior, missing the estimation.
The BoC is likely to cut rate at its September meeting on Wednesday.
The USD/CAD pair trades on a weaker note around 1.3545 during the early Asian session on Wednesday. The weaker-than-expected US ISM Purchasing Managers Index (PMI) drags the Greenback lower. The Bank of Canada (BoC) interest rate decision will be the highlight later on Wednesday, with a 25 basis points (bps) rate cut expected.
The business activity in the US manufacturing sector continued to contract, albeit at a softer pace in August. The US ISM Manufacturing PMI rose from an eight-month low in July at 46.8 to 47.2 in August. This figure was below the market consensus of 47.5 and register the lowest reading since November.
USDCAD ShortUSD/CAD near Supply Zone and DXY(us dollar index) show some short term sell so as per technically analysis market will fall from this level and also today event for usd and cad.
USDCAD Pre Canada Data..The Long Term trajectory the USDCAD has undertaken has been continuously sideways.
No real reason for extreme long side or short side impetus.
Any further CAD weakness and risk off sentiment likely will spur further moves to the upside.
Levels as drawn, preference taken at highs and lows.
From our previous Projection of the USDCADFrom our previous Projection of the USDCAD, Do you think the Cad will break the resistance level or Bears about to continue with the bearish trend at the resistance level?
USD/CAD H4 | Potential bullish breakoutUSD/CAD is rising towards a potential breakout level and could jump higher from here.
Buy entry is at 1.3575 which is a potential breakout level (wait for the 1-hour candle to close above the Buy Entry for confirmation).
Stop loss is at 1.3517 which is a level that lies underneath a pullback support.
Take profit is at 1.3699 which is an overlap resistance that aligns with the 50.0% Fibonacci retracement level.
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