Get started

U.S. Dollar / Canadian Dollar

No trades
See on Supercharts
Overview News
Ideas
Discussions Seasonals Economic Calendar

USDCAD trade ideas

USDCAD bounced from Support and can continue higherLooking at the chart and the overall structure, I think we can favor the continuation setup with a emphasis on price action at key zones, particularly when price breaks out then can revisit this structure for a retest. This bounce off support has been accomplished in my previous analysis: Here, if price breaks with strength and dips back into the area and holds with bullish confirmation (likely a wick rejection or bullish engulfing on lower timeframes), that would be the cue to get in. I am projecting the next target to 1.38600 that makes sense as a logical level for trend continuation and that I find achievable.
Long
by TrendDiva
38
USD/CAD Breaks Triangle: Bullish Target in SightHello guys! USD/CAD has broken out of a clear triangle formation, signaling strong bullish momentum. The breakout above the top line of the triangle, supported by earlier bullish divergence, confirms that buyers are now in control. Triangle breakout confirmed Strong bullish impulse post-breakout Retest of the broken trendline expected Target: 1.38791 A clean retest of the breakout level could provide another entry opportunity before price reaches the target zone highlighted in blue.
Long
by melikatrader94
8
USD/CAD Rises to 2-Month HighUSD/CAD Rises to 2-Month High Today, the USD/CAD exchange rate briefly exceeded the 1.3870 mark – the highest level seen this summer. In less than ten days, the US dollar has strengthened by over 2% against the Canadian dollar. Why Is USD/CAD Rising? Given that both the Federal Reserve and the Bank of Canada left interest rates unchanged on Wednesday (as expected), the primary driver behind the pair’s recent rally appears to be US President Donald Trump's decision to impose tariffs on several countries – including Canada: → Despite efforts by Prime Minister of Canada Mark Carney to reach an agreement with Trump, no deal was achieved; → Canadian goods exported to the US will now be subject to a 35% tariff; → The tariffs take effect from 1 August; → Goods compliant with the United States-Mexico-Canada Agreement (USMCA) are exempt. Media analysts note that the tariffs are likely to increase pressure on the Canadian economy, as approximately 75% of the country's exports are destined for the United States. USD/CAD Technical Analysis At the end of July, the price formed a steep ascending channel (A-B), with bullish momentum confirmed by a decisive breakout above the 1.3790 resistance level, as illustrated by the arrow: → the pullback before the breakout was relatively shallow; → the bullish breakout was marked by a long bullish candlestick with a close near the session high; → following the breakout, the price confidently consolidated above 1.3790. Provided that the fundamental backdrop does not undergo a major shift, bulls might attempt to maintain control in the market. However, the likelihood of a correction is also increasing, as the RSI indicator has entered extreme overbought territory. Should USD/CAD show signs of a correction after its steep ascent, support might be found at: → line C, drawn parallel to the A-B channel at a distance of its width; → the previously mentioned 1.3790 level, which now acts as a support following the breakout. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
by FXOpen
2
Will the Canada-US Trade Tension Continue to Impair CAD?Fundamental approach: - USDCAD advanced this week, supported by broad US dollar strength and renewed trade tensions as the US announced higher tariffs on Canadian imports. - The pair was further buoyed after the BoC left rates unchanged and signaled caution amid persistent core inflation and ongoing trade negotiations. - Meanwhile, US labor data indicated that job openings were moderating growth while tariff-related uncertainty weighed on risk sentiment. - The BoC’s decision to keep its policy rate at 2.75% cited domestic economic resilience and the unpredictable US trade policy outlook. - At the same time, negotiations between Canada and the US over trade terms remained in an “intense” phase, with additional tariffs entering effect 1 Aug, adding to downside risks for the Canadian economy. - USDCAD may remain elevated next week as markets monitor follow-through from new tariffs and assess further data on US jobs and Canadian trade. Potential progress or setbacks in Canada-US trade talks and upcoming economic releases could influence direction, while central bank policy signals and risk appetite will remain key catalysts. Technical approach: - USDCAD formed a Triple-bottom pattern at around 1.3567 and bounced up to break the neckline at 1.3755. The price also broke the descending trendline and closed higher than both EMAs, indicating a potential trend reversal. - If USDCAD remains above the support at 1.3755 and both EMAs, the price may retest the resistance at 1.3980. - On the contrary, closing below the support at 1.3755 and both EMAs may lead USDCAD to retest the key support at 1.3567. Analysis by: Dat Tong, Senior Financial Markets Strategist at Exness
Long
by DatTong
2
Uptrend is coming. Opportunity for buyers✏️ OANDA:USDCAD is trading close to the upper boundary of the triangle pattern. There is a high possibility that the current bullish momentum will break the upper boundary and form an uptrend for the USDCAD pair. The important price zone for the sellers at the moment is 1.075. If the buyers are strong enough to push the price above 1.075, the sellers will only be really interested in the price zone of 1.340, the high of the pair in May. 📉 Key Levels Buy trigger: Reject and Trading above 1.365 BUY DCA Break 1.375 Target: 1.400 Leave your comments on the idea. I am happy to read your views.
Long
by VHT_Trader
4
USD/CAD Unless oil rockets, then the pair has room to rise.From June till now, we’ve been in a range-bound market, with multiple failed attempts to break lower. But now we’re seeing higher lows forming, and price is bouncing off my fvp zone @ 1.36600 . So if the Fed stays patient and oil stays weak or sideways, USD/CAD bulls have the upper hand. I am expecting a bearish retest soon to develop @ Key Bullish FVP Zone: 1.36600, but if 1.3577 gets violated with strength, then scratch the long idea — it might be time for CAD bulls to party instead. Extreme Discount Zone: Just below at 1.36000, If the price dips into this area, it could be a liquidity hunt. But if not, then the bulls will have to come in and drive the market to the 1st Take Profit Target: 1.38400
Long
by que
1
USDCAD H4 I Bearish Reversal OffBased on the H4 chart analysis, we can see that the price is rising toward our sell entry at 1.3739, which is a pullback resistance. Our take profit will be at 1.3689, an overlap support level. The stop loss will be placed at 1.3775, the swing-high resistance level. 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 (tradu.com ): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% 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 (tradu.com ): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% 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 Global LLC (tradu.com ): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to Tradu (‘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 Tradu and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of Tradu or any form of personal or investment advice. Tradu neither endorses nor guarantees offerings of third-party speakers, nor is Tradu responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
Short
by Tradu
1
USD/CAD - 6C1! : Trade update FundamentalThe US dollar index (DXY) gained strength against major currencies on Monday following a landmark trade agreement between the United States and the European Union. During the meeting in Scotland on Sunday, President Donald Trump and European Commission President Ursula von der Leyen announced a new trade framework, which includes a 15% import tariff on EU goods—half of the 30% rate Trump had initially threatened to impose starting August 1. The DXY opened higher at the start of the week, and it’s clear that most currencies are likely to see a decline in response. This trend also extends to pairs like the 6C1! (USDCAD), where the USD has been increasing its long positions. Last week, non-commercial traders added to their holdings, while commercial traders remain at their highest levels since 2021. Based on this setup, we are maintaining a bullish outlook and expect the continuation of our long position strategy. Previous Idea : ✅ Please share your thoughts about USD/CAD in the comments section below and HIT LIKE if you appreciate my analysis. Don't forget to FOLLOW ME; you will help us a lot with this small contribution.
Long
by FOREXN1
3
Price channel break. Will the downtrend take place?✏️USDCAD broke the price channel and started forming a bearish wave. The resistance zone of 1.370 played an important role in starting the bearish wave. 1.365 is the immediate support zone that the pair faces. If it wants to extend the decline, it needs to close the h1 candle below this price zone. The convergence between the trendline and the resistance of the Asian session will be a reliable support point for a downtrend to take place. 📉 Key Levels Support: 1.365-1.356 Resistance: 1.370 SELL Trigger: Rejects bellow 1.370 SELL DCA Trigger: Break support 1.365 Target 1.356 BUY Trigger: Break and trading above resistance 1.370 Leave your comments on the idea. I am happy to read your views.
Short
by VHT_Trader
11
Bearish reversal off multi swing high resistance?USD/CAD is reacting off the resistance level, which is a multi-swing high resistance and could drop from this level to our take profit. Entry: 1.3782 Why we like it: There is a multi-swing high resistance. Stop loss: 1.3855 Why we like it: There is a swing high resistance that lines up with the 138.2% Fibonacci extension. Take profit: 1.3702 Why we like it: There is a pullback support that aligns with the 48.2% Fibonacci retracement. Enjoying your TradingView experience? Review us! TradingView (www.tradingview.com) Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). 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 Everest Fortune Group.
Short
by VantageMarkets
USDCAD Buyers In Panic! SELL! My dear subscribers, This is my opinion on the USDCAD next move: The instrument tests an important psychological level 1.3704 Bias - Bearish Technical Indicators: Supper Trend gives a precise Bearish signal, while Pivot Point HL predicts price changes and potential reversals in the market. Target - 1.3660 About Used Indicators: On the subsequent day, trading above the pivot point is thought to indicate ongoing bullish sentiment, while trading below the pivot point indicates bearish sentiment. Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis. ——————————— WISH YOU ALL LUCK
Short
by AnabelSignals
3
Heading into multi swing high resistance?The Loonie (USD/CAD) is rising towards the pivot and could reverse to the 1st support, which acts as a multi-swing high support. Pivot: 1.3758 1st Support: 1.3574 1st Resistance: 1.3844 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
Canada's GDP contracts, US nonfarm payrolls misses forecastThe Canadian dollar continues to lose ground against its US counterpart and is trading at two-month lows. In the European session, the Canadian dollar is trading at 1.3875, down 0.13% on the day. USD/CAD has risen for six straight days, climbing 1.9% during that time. US nonfarm payrolls for July were softer than expected at 73 thousand, compared to the forecast of 110 thousand. The June report was revised sharply downwards to 14 thousand from an initial 147 thousand. Canada's GDP posted a small decline of 0.1% m/m in May, matching the market estimate. This followed an identical reading in April, as the economy is essentially treading water. A drop in retail trade was a significant factor in the weak GDP reading, particularly in motor vehicles and parts. The decline in GDP in April and May can be squarely blamed on the trade war with the US, which has put a chill in economic activity. The markets are expecting a slight improvement in June, with an estimate of a 0.1% gain. The Bank of Canada held the benchmark rate at 2.75% on Thursday for a third consecutive meeting. The rate statement noted that US trade policy remains "unpredictable" and Governor Macklem reiterated this at his press conference, saying that "some level of uncertainty will continue" until the US and Canada reach a trade agreement. Meanwhile, the trade war between the two sides is heating up. President Trump announced on Thursday that the US was slapping 35% tariffs on Canadian products, effective Aug. 1. The new tariff will not apply to goods covered under the US-Mexico-Canada Agreement. Canada's Prime Minister Mark Carney said he was "disappointed" with the US decision and vowed that "Canadians will be our own best customer". These are brave words, but Carney will be under pressure to reach a deal with the US, as 75% of Canadian exports are shipped to the US and Canada can ill-afford a protracted trade war with its giant southern neighbor.
by OANDA
USDCAD Analysis week 31🌐Fundamental Analysis The Canadian dollar continued to decline against the US dollar on Friday. Trump returned to threatening tariffs on Canada as trade deals remain limited. The August 1 deadline for tariffs is approaching and Canada has not made much of a move so far. 🕯Technical Analysis USDCAD continues to rally towards the 1.4000 resistance zone. A recovery of the pair to 1.365 is a good momentum for USDCAD to break the trendline and break 1.37700. The trading strategy for next week is mainly to look for BUY points when there is a recovery of the wave structure. If the important support of the week 1.357 is broken, the uptrend will reverse. 📈📉Trading Signals BUY USDCAD 1.365-1.363 Stoploss 1.360 BUY Break out 1.37700
by TVS-Trader