USDCAD trade ideas
Bearish drop?USD/CAD has reacted off the resistance level which is a pullback resistance that lines up with the 61.8% Fibonacci retracement and could drop from this level to our take profit.
Entry: 1.4412
Why we like it:
There is a pullback resistance level that lines up with the 61.8% Fibonacci retracement.
Stop loss: 1.4539
Why we like it:
There is a pullback resistance level.
Take profit: 1.4247
Why we like it:
There is an overlap support level.
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USDCAD - Bullish ProspectsUSD/CAD's 4-hour chart suggests that if we see a nice correction in the current area around 1.434, we may experience a continuation to the upside as indicated by the arrow on the chart. The pair has been showing volatility since early March, reaching a peak of approximately 1.4540 before pulling back. The projected path illustrated with the zigzag line indicates a potential corrective move down followed by renewed bullish momentum. This potential upside continuation would likely target levels beyond the recent high, with the current consolidation possibly serving as a base for the next leg up. The highlighted blue box area represents a support zone that could contain the correction before the anticipated upward move materializes. Traders should watch for price action confirmation within this region to validate the bullish scenario.
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
USDCAD SellUSDCAD formed a inverted hammer at the resistance level is likely to reverse from here. With target 1 and possible target 2.
CAD/USD IDEAI believe we can expect a price increase due to the current volatility of the Canadian dollar. With the U.S. considering tariffs on Canada starting April 2nd, coupled with China imposing new tariffs on Canadian agricultural products, the situation is likely to drive prices higher.
USDCAD SETUPThis analysis is Invalid when Price stays bullish to break Above the high 1.44257.Perfect setup for some good profit..Don't struggles with a Simple profit.
USDCAD Tariff War or Currency War? If you can’t beat’em, join’emWhile everyone is worried about tariffs, is this not foreshadowing a bleak future for Canada’s purchasing power? They might want to reconsider the tit for tat rhetoric
Am I the only one who sees this? Goodbye CAD…
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.
USD/CAD Market Analysis: Potential Reversal from Resistance ZoneThe USD/CAD pair on the 15-minute timeframe is showing signs of a potential bearish reversal. The price has been in an uptrend, forming higher highs and higher lows while respecting a diagonal support trendline. However, it has now approached a key resistance zone around 1.43575, as marked by the M15 supply area.
The current price action suggests a rejection from this resistance, with wicks indicating selling pressure. If the price breaks below the ascending trendline, a further decline towards the 1.42794 support level is likely. The risk-to-reward setup favours short positions if confirmation of a bearish structure shift occurs.
Traders should monitor price action closely for a trendline break or a strong bearish engulfing candle to confirm the sell-off.
USDCAD: Will Start Falling! Here is Why
The recent price action on the USDCAD pair was keeping me on the fence, however, my bias is slowly but surely changing into the bearish one and I think we will see the price go down.
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
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Simple DOW Theory Playout on USD/CADDidn't review any fundamentals, simply played the trade based on a bearish pattern, stop loss was identified above the previous lower high and kept equal risk/reward ratio.
USDCAD Update H4 ShortRemember, successful trading relies on proper risk management and a disciplined approach. Use stop-losses to safeguard your assets and carefully plan each trade. Analysis is the key to making informed decisions. Stay updated and continue refining your strategies!
USDCAD: Confirmed Bearish Reversal📉 USDCAD has formed a head and shoulders pattern on the 4-hour chart.
After the release of US economic data yesterday, the price dropped sharply, breaking below the pattern's neckline.
This morning, the pair is retesting the broken neckline and moving lower, indicating the potential for further downside.
The next key support level to watch is 1.4244.
Bearish momentumUSD/CAD is rising towards the resistance level which lines up with the 38.2% Fibo retracement and could reverse from this level to the downside.
UsdCad Sell setupUS DOLLAR/CANADIAN DOLLAR📊
TREND: BEARISH📉
Price rejected demand zone from previously shared setup leading to a break-even trade. Price later gave impulse (new york session) to the downside and left imbalance. We can anticipate price will react to our premium supply before continuing to the downside as current orderflow is bearish.
Good luck!🔥
USDCAD SELL TrendUSDCAD
🐻 The price is in the decline, rebounding from the crucial 1.4320 resistance zone.
Bearish crude oil prices and trade wars with the US are undermining the commodity-linked loonie and acting as a tailwind for the USDCAD pair's decline
The Momentum oscillator crosses the 100-level down, confirms the increasing bearish sentiment.
#TradeIdea
🔽 We consider selling USDCAD;
🎯 Target: 1.4245;
🎯 Target: 1.4172;
usdcad biasa possible retest on the key level area before the continued down trend. Also a possibility of not reaching the key level so look out for a confirmation to join to the downside
change the trendIt is expected that a trend change will form within the current support range and we will witness the start of an upward trend. A break of the resistance trend line will be a confirmation of the upward trend.
USDCAD: Bearish Reversal ConfirmedThe 📉USDCAD pair has formed a head and shoulders pattern on the 4-hour chart.
Following the release of US economic data yesterday, the price quickly fell and broke below the pattern's neckline.
This morning, the price is currently testing the broken neckline and heading below it.
This suggests that we may see further downward movement in the price.
The next level of support to watch for is at 1.4244.
Trendline break and Rising channelsThe price broke a bullish trendline and a rising channel followed by 3 pullbacks, this a strong sign of an upcoming bearish impulse, I have put my sell stop order and it's time to short
WE ONLY TRADE PULLBACKS
Dxy bullish bias tomorrow friday 07/03/2025 High Impact NEWS:NFPThe most important thing is that we wait for the manipulation to pass , we see what price doing tomorrow OANDA:USDCAD
