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USD/CAD (OANDA EU Clients)

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USDCAD.PRO.OTMS trade ideas

USD/CAD Trend During US Trading SessionUSD/CAD news: 🔆USD/CAD rallied yesterday as Trump outlined clear tariffs including those on Canada and Mexico from March 4 🔆DXY maintained its third consecutive day of gains after the US Q/Q GDP was released as expected, indicating that the US economy remains solid after the tariff preparations 🔆However, on the technical side, the RSI (1H) indicator after entering the overbought zone has shown signs of divergence against the pair, so there will be a short-term correction before the main uptrend continues Personal opinion: 🔆USD/CAD still maintains a strong upward momentum after the latest economic and financial news - the latest tariff policy has more influence on the strength of CAD. Analysis: 🔆Based on important resistance - support and Fibonacci levels combined with EMA34 to come up with a suitable strategy Plan: 🔆Price Zone Setup: 👉Buy USD/CAD 1.4420 – 1.4410 ❌SL: 1.4390 | ✅TP: 1.4460 – 1.4500 – 1.4540 FM wishes you a successful trading day 💰💰💰
Long
by FM-ForexMastermind
1
USD/CAD - Harmonic Patterns and Momentum IndicatorsTechnical Analysis of USD/CAD - Harmonic Patterns and Momentum Indicators Overview: The USD/CAD chart illustrates price action on the hourly timeframe, incorporating harmonic patterns, Fibonacci retracements, and momentum indicators to identify potential reversal and continuation points. The presence of a Crab harmonic pattern suggests a critical turning point, while momentum oscillators provide additional confirmation. **Harmonic Pattern Analysis:** 1. A **Crab harmonic pattern** is evident, with the price reaching the terminal point at approximately **1.44627**. 2. The **XA and BC Fibonacci extensions** align with key retracement levels, reinforcing the likelihood of a reversal at this zone. 3. The price has **rejected the high point**, indicating potential exhaustion of bullish momentum. **Support and Resistance Levels:** - **HOP (Harmonic Optimal Point):** **1.44627** - The potential completion zone of the Crab pattern. - **XA Retracement:** **1.43968** - A key structural support level. - **BC Level:** **1.43721** - A secondary support level for price continuation. - **T2 (Target 2):** **1.42596** - A potential downside target if bearish momentum continues. **Momentum Indicators:** - **Stochastic RSI & Relative Strength Index (RSI):** - The **Stochastic RSI** shows a recent overbought condition, followed by a decline, indicating potential bearish momentum. - The **RSI also exhibits bearish divergence**, where price made a higher high while RSI formed a lower high, suggesting weakening bullish strength. **Market Sentiment & Potential Trade Opportunities:** - Given the rejection at **1.44627**, a **short position** could be considered if confirmation of further downside emerges. - A break below **1.43968** could reinforce the bearish bias, with **1.42596** as a potential target. - However, if the price finds support and rebounds, a bullish continuation could be anticipated, requiring further validation. **Conclusion:** The **Crab harmonic pattern, overbought momentum indicators, and Fibonacci confluence suggest a possible bearish reversal**. Traders should monitor **key support levels and momentum shifts** to determine whether the bearish scenario plays out or if buyers regain control. Risk management and confirmation signals are crucial before entering a trade.
Short
by BeaucoupPips
USDCAD INTRADAY postponed Canada tariffsThe USDCAD currency pair intraday sentiment appears bullish, supported by the longer-term uptrend. The key trading level is at 1.4314. An overbought pullback from the current level and a bullish bounce back from the 1.4314 level could target additional upside resistance at 1.4368 followed by the 1.4400 and 1.4430 levels over the longer timeframe. Alternatively, a corrective pullback from the current levels and a confirmed loss of 1.4314 support and a daily close below that level would negate the bullish outlook opening the way for a further pullback and a retest of 1.4280 support followed by 1.4263 and 1.4212 levels. This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
by TradeNation
USDCAD M15 I Bearish Drop Based on the M15 chart analysis, we can see that the price is approaching our sell entry at 1.4349, a swing high resistance. Our take profit will be at 1.4315, a pullback support that aligns to the 78.6% Fibo retracement. The stop loss will be placed at 1.4368, which is a swing-high resistance. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (fxcm.com/uk): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd (fxcm.com/eu): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (fxcm.com/au): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at fxcm.com/au Stratos Global LLC (fxcm.com/markets): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). 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 TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third-party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
Short
by FXCM
USDCAD INTRADAY Bullish above 1.4314The USDCAD currency pair intraday sentiment appears bullish, supported by the longer-term uptrend. The key trading level is at 1.4315. An overbought pullback from the current level and a bullish bounce back from the 1.4314 level could target additional upside resistance at 1.4368 followed by the 1.4400 and 1.4430 levels over the longer timeframe. Alternatively, a corrective pullback from the current levels and a confirmed loss of 1.4314 support and a daily close below that level would negate the bullish outlook opening the way for a further pullback and a retest of 1.4280 support followed by 1.4263 and 1.4212 levels. This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
by TradeNation
USDCAD BUYING SETUP !USDCAD is setting up for a potential buying opportunity as price holds above key support levels. Bullish momentum is building, indicating that buyers may take control soon. If price sustains above the support zone and shows confirmation signals like bullish candlestick patterns or trendline support, we could see an upward move toward the next resistance levels. Traders should wait for clear confirmations before entering and manage risk wisely. Stay alert for the next bullish move! 📈🔥 Technical Analysis by Ali Khan
Long
by Itsalikhaan