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USD/CAD (OANDA EU Clients)

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USDCAD.PRO.OTMS trade ideas

USDCAD What Next? SELL! My dear friends, My technical analysis for USDCAD is below: The market is trading on 1.4397 pivot level. Bias - Bearish Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bearish continuation. Target - 1.4364 Recommended Stop Loss - 1.4413 About Used Indicators: A pivot point is a technical analysis indicator, or calculations, used to determine the overall trend of the market over different time frames. ——————————— WISH YOU ALL LUCK
Short
by AnabelSignals
2
USD/CAD: Key Support and Resistance Levels Ahead of Labor Market Traders are closely watching the USD/CAD pair as labor market data from both the United States and Canada are set to be released today. Forecasts suggest a decline in Canadian employment change from 59k to 24.9k, accompanied by a rise in the unemployment rate from 6.8% to 6.9%. In contrast, U.S. non-farm payroll data is expected to show a decrease in job creation to 164k, while the unemployment rate is anticipated to remain steady at 4.2%. These data releases are likely to impact the USD/CAD pair's movements significantly. Analysts suggest that higher employment rates in either country would support their respective currency, while rising unemployment rates would have a negative impact on the currency involved. Technical outlook Beyond today's data, the USD/CAD pair is currently trading in a bearish trend on the 4-hour timeframe after recently hitting a new low at 1.43045. Analysts view the recent upward movement as a corrective rebound, with a return to the 1.44271 level potentially reinforcing the likelihood of a further decline toward 1.43195. On the other hand, if the pair continues its upward trajectory and breaches the 1.44670 level with a 4-hour candle closing above this level, experts predict the trend could shift to a bullish direction.
by CFI
USDCAD -bias long Bullish indications: Pair is in bullish trend making higher high higher lows, and respecting MA 20 in day time frame , made a inverted hammer in 4 hr time frame , Inverted head and shoulder and hammer Ma 21 respected, in 1 hr -Bullish pennant broke out and again MA 20 respected which indicates bullish momentum in the is pair . Hence going long Trade plan bias long @ 1.4385 SL:1.4370 TP1:1.44000 TP2:1.4414 SL: Bearish : Made double top in day time frame with bearish engulfer candle and also bearish divergence.
Long
by gouthamkulal1
USDCAD Possible LongW1 : Bullish D1 : Bullish 4H : Bullish Market Structure 1H : Currently Bearish Narrative : Price is currently Coming out of weekly IMB by sweeping Previously weekly low > We had a Daily IMB in the way that got violated by 4H PA and retracing back to the 4H OB after tapping into 4H Area of struggle > 1H is currently Bearish Entry Pattern : Currently Hourly Price action is bearish retracing back to 4H OB, after coming inside the OB we can look for some sort bullish sign to enter long position. First context target can be simply 1:2RR / Weak High. Eventually Price can attack Realtive Equal Highs on Top since there are no AOS upside.
Long
by nptrade24
USD/CAD in holding pattern ahead of US, Cdn. jobs dataThe Canadian dollar started the week with strong gains but has shown little movement since then. In the European session, USD/CAD is trading at 1.4411, up 0.12% at the time of writing. We could see stronger movement from the Canadian dollar in the North American session, with the release of Canadian and US employment reports. Canada's economy may not be in great shape but the labor market remains strong. The economy added an impressive 50.5 thousand jobs in November and is expected to add another 24.9 thousand in December. Still, the unemployment rate has been steadily increasing and is expected to tick up to 6.9% in December from 6.8% a month earlier. A year ago, the unemployment rate stood at 5.8%. This disconnect between increased employment and a rising unemployment rate is due to a rapidly growing labor market which has been boosted by high immigration levels. Another sign that the labor market is in solid shape is strong wage growth. Average hourly wages have exceeded inflation and this complicates the picture for the Bank of Canada as it charts its rate path for early 2025. The BoC has been aggressive, delivering back-to-back half point interest rate cuts in October and December 2024. Inflation is largely under control as headline CPI dipped to 1.9% in November from 2% in October. However, core inflation is trending around 2.6%, well above the BoC's target of 2%. The central bank is likely to take a more gradual path in its easing, which likely means that upcoming rate cuts will be in increments of 25 basis points. The BoC meets next on Jan. 29. In the US, all eyes are on today's nonfarm payrolls report. The market estimate stands at 160 thousand for December, compared to 227 thousand in November. The US labor market has been cooling slowly and the Federal Reserve would like that trend to continue as it charts its rate cut path for the coming months. An unexpected reading could have a strong impact on the direction of the US dollar in today's North American session. USD/CAD is testing resistance at 1.4411. Above, there is resistance at 1.4427 1.4388 and 1.4372 are the next support levels
by OANDA
Bullish momentum to extend?The Loonie (USD/CAD) has reacted off the pivot and could rise to the 1st resistance. Pivot: 1.4303 1st Support: 1.4303 1st Resistance: 1.4469 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.
Long
by ICmarkets
USDCAD Forecast: Ready for a Bullish Surge!I'm excited to share my latest analysis on the USDCAD currency pair. Based on the insights from the EASY Trading AI strategy, I'm inclined to recommend a Buy position for USDCAD at the entry price of 1.43916. Why the bullish outlook? Firstly, current market dynamics indicate strong support, and previous bullish momentum suggests that the pair is poised for upward movement. We're targeting a Take Profit at 1.44094667. This level aligns with previous resistance points, serving as a potential pivot for further gains. To protect our position, I advise setting a Stop Loss at 1.43690667. This provides a safety net while offering an acceptable risk-reward ratio, ensuring we can capitalize on favorable price movements without taking on excessive risk. It's important to remember that although our analysis is underpinned by the solid foundations of the EASY Trading AI strategy, trading always entails risk. Staying informed about market fluctuations and adhering to sound risk management practices are crucial for success. For those looking to automate their trades, consider exploring the options available through our trading bots that utilize the same strategy. Happy trading!
Long
by ForexRobotEasy
USDCAD Wave Analysis 9 January 2025 - USDCAD reversed from support zone - Likely to rise to resistance level 1.4450 USDCAD currency pair recently reversed up from the support zone located between the support level 1.43000, 20-day moving average and the support trendline of the sharp daily up channel from September. This support zone was further strengthened by the 38.2% Fibonacci correction of the upward impulse from last month. Given the clear daily uptrend, USDCAD currency pair can be expected to rise to the next resistance level 1.4450 (which stopped the previous waves (3) and B).
Long
by FxProGlobal
USDCAD - ShortUSDCAD Analysis - SHORT 👆 In this Chart USDCAD DAILY Timeframe: By Nii_Billions. ❤️This Chart is for USDCAD market analysis. ❤️Entry, SL, and Target is based off our Strategy. This chart analysis uses multiple timeframes to analyze the market and to help see the bigger picture on the charts. The strategy uses technical and fundamental factors, and market sentiment to predict a BEARISH trend in USDCAD, with well-defined entry, stop loss, and take profit levels for risk management. 🟢This idea is purely for educational purposes.🟢 ❤️Please, support our work with like & comment!❤️
Short
by Nii_Billions