USD/CAD Post Data (Trade Plans)Rising away from Key Moving Averages, USDCAD has rallied back towards highs.
Slight rejection in the last couple of HRS. Looking to maintain short bias for a while.
USDCAD trade ideas
USDCAD_1Whello 👋
📊Analysis of the Canadian dollar Long-term time frame Elliott wave analysis
The market is moving in the 5th big wave and can break the ceiling of the triangle and register a new ceiling in the last 25 years. Long-term time support 1.34000 The first target is 1.44444 The second target is 1.50000
Are you ladies and gentlemen seeing this USDCAD? 9 green days!Hi everyone,
This is going to be a sell for a 5x profit which would be a move to the 50% pullback region from this humongous uptrend. I am actually rather confused by it.
USDCAD Potential Drop after rejection from crossing of ResistancUSDCAD has been steadily climbing since the start of October, with nine consecutive bullish days. The price has now reached significant levels on both the weekly and daily timeframes. However, as it nears the resistance area, the candles are shrinking, signaling a potential loss of momentum. Zooming out, it's evident that the price has dropped from the 1.38500 resistance multiple times in the past. This suggests the potential for at least a short-term pullback. If a rejection candle forms, we could expect the price to move lower. Given that today's news is packed with CAD-related data, volatility is expected, possibly leading to large wicks in both directions. The target is the support level at 1.36650
USDCAD longer term Shorts, consecutive candle ideaThis is a simple stats based short idea, the consecutive candle count is nearly at a new record high, last time it was this high was back in 2017 so these opportunities don't come up often. Mean reversion is coming so let's make some hay while the sun shines :)
Start entering shorts now and then enter more if it goes higher, don't go crazy mind, it's all about risk.
You can see a new custom indicator I've been working on.
USDCAD remains overbought into CPI Intraday Update: Ahead of the Canadian CPI today the USDCAD continues its "overboughtness" as the gravity pull of the CAD is undeniable. Technically, the RSI remains overbought intraday for over a week and the next upside target remains at 1.3836. Only back below the 1.3720 would take the downside pressure off.
USDCAD on the edgeWith the triple CPI news at 2:30PM, we're really confident to say that USD is taking a huge bump, leading USDCAD to a new lower low.
Lingrid | USDCAD short Trade after RESISTANCE rejectionFX:USDCAD has been moving steadily upward since the beginning of October, making nine consecutive bullish days. The price has reached significant levels on both the weekly and daily timeframes. As it approaches the resistance area, it appears to be running out of steam, with the candles shrinking in size, indicating a loss of momentum. Upon zooming out, we can see that the price tanked from resistance at 1.38500 multiple times. I expect the market to form at least a short-term pullback. If we see a rejection candle, we can expect the price to move lower. However, given that today is packed with CAD news, it's possible that the market will be volatile, leading to significant wicks up and down. My goal is support level at 1.36650
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
SELL USDCAD.In my opinion, it is possible to think about selling USDCAD from this area. In my opinion, these two situations can happen. It should be seen what number of Canadian inflation will be announced. If the announced number is less than the predictions, it may go up to 1.3850, but if it is more than the predictions, it can fall from here.
good luck
Canada’s job growth sparkles but Canadian dollar fallsThe Canadian dollar can’t find its footing and is trading at nine-week low against the US dollar. In the North American session, USD/CAD is trading at 1.3792 at the time of writing, up 0.21%. The Canadian dollar has recorded eight straight losing sessions and is down 1.9% in October.
The week ended on a high note, as Canada’s employment growth jumped by 46.7 thousand, crushing the market estimate of 27 thousand and sharply higher than the August reading of 22.1 thousand. Full-time employment surged by 112 thousand, following a decline of 43.6 thousand in August, while the unemployment rate dropped from 6.6% to 6.5%.
The impressive numbers couldn’t stop the Canadian dollar’s nasty slide but it will please Bank of Canada policymakers. The central bank has shifted its primary focus from inflation to risks to the labor market, now that inflation has been largely contained. In August, CPI dropped to 2%, its lowest level since February 2021.
The BoC meets next week and has a tough decision to make. The drop in inflation raised the odds of a 50-basis point cut but Friday’s employment report was stronger than expected and supports the case for a modest 25-bps cut. The BoC has been aggressive in its rate-cutting cycle and has lowered rates three times this year in a bid to ease the pressure of elevated rates.
The Federal Reserve has been late to the rate-lowering party, delivering its first rate cut in September. Still, the oversized 50-basis point cut in September signaled that the Fed means business and isn’t afraid to slash rates with large cuts. The Fed is expected to trim rates by an additional 50 or 75 basis points before year’s end. The most likely scenario is rate cuts of 25 bps in both November and December. The Fed could, however, deliver one more 50-bps cut if employment or inflation numbers are lower than expected.
USD/CAD has pushed above resistance at 1.3758 and is testing resistance at 1.3790. The next resistance line is 1.3817
1.3731 and 1.3699 are the next support levels
USDCAD short moveIf price should break our support level, we cloud see more bearish move towards our target area.
USD/CAD Powering Higher Ahead of Canadian CPI NumbersMonth to date, the USD/CAD currency pair (US dollar versus the Canadian dollar) is up 2.0% and testing monthly highs.
Monthly Price Action Suggests Further Upside Ahead
The monthly timeframe exhibits scope to explore higher terrain until reaching resistance at C$1.3945, following a rebound from a support zone around C$1.3534. Technically, the pair has been hampered by said resistance since October 2022. However, sellers have been largely unwilling to commit, thus suggesting an eventual breakout to the upside and shining light on another layer of resistance at C$1.4193.
Daily Resistance Could Hinder Buying
Meanwhile, price action on the daily timeframe shows the unit testing the mettle of resistance coming in at C$1.3795. Beneath here, a decision point area is seen at C$1.3692-C$1.3717, while a break above current resistance could have the currency pair knocking on the door of a resistance zone between C$1.3877 and C$1.3866. Although the monthly timeframe suggests a break above daily resistance is likely, the daily chart's Relative Strength Index (RSI) has recorded overbought conditions.
Shorter-term flow on the H1 timeframe, as you can see, has been working closely with picture-perfect trendline support since the beginning of October (extended from the low of C$1.3472). As of writing, buyers and sellers are squaring off just south of C$1.38 (the figure) and neighbouring resistance at C$1.3810; note also that upside momentum has slowed since last Thursday.
H1 Structure is Key
While monthly flows suggest further outperformance, the daily timeframe’s resistance at C$1.3795 (and the RSI indicating overbought conditions) may concern buyers. To help determine short-term direction, H1 trendline support and C$1.38 will be key levels to watch.
A noteworthy break above the big figure (and C$1.3810 resistance) would imply bullish strength (in line with monthly flow), and continuation moves toward at least H1 resistance from C$1.3848. At the same time, defending H1 resistance and prompting a breakout below the H1 trendline support indicates daily resistance may invite profit-taking and a possible dip to at least H1 support from C$1.3735 or C$1.37 (the figure).
USDCAD SellUSDCAD looks like a sell on the H4 and has been moving steadily down from my last entry in UC. I believe that there will be a potential double top move looking to move towards the 1.37800s and since we are within that range it is clearly looking for prior price action to do a pullback or continue the reversal pattern of a downtrend. I am looking for this mainly to be a day trade, however, I will also be placing a swing trade for my other trading accounts to bare in mind to also use PROPER risk management.
RSI also indicates that we are long overdue a major short and will see it within the next few candles how far USDCAD can go. I also have spotted trend patterns go back to July 25th of this year and it extending all the way down for a month straight crashing USDCAD all the way down till the very bottom of the RSI.
ENTRY: 1.37951
TP 1 (Day Trade): 1.1.36230
TP 2 (Swing Trade): 1.35434
TP 3: (extended swing trade) 1.34396
SL: 30 Pips from entry
Please message me if you have any questions! Please enjoy your day and be sure to follow our page!
BUY on USDCADSO far from my technical analysis, i confirm that we are in an uptrend on USDCAD, now is just the time for entry in continuation with the uptrend , the trend is your friend till it ends , enter the trades with proper risk managment, lets go/ 1.2 lets milk together
USDCAD Potential Bearish Crab...Keep An EyeHello guys, keep an eye on USDCAD, let's see how it plays out. I expect an aggressive sweep and kove tomorrow CAD CPI, let's see how this plays out by tomorrow.
USDCAD Sell To BuyDefined divergence relative to the markets as a whole and over extended up trend within the chart. Regardless of if this is the end of bullishness or just a correction, a correction is incoming. The buy is either a retest of the leftover high, or a continuation of current uptrend. Trade Safe, Trade Smart, Trade Drippy!
USDCAD I would sell nowThis a wild wild upside for this long. I assume the pullback will be fast and wild too, and then a bit range of a 100+ pips should begin creating.
USD/CAD Forex Mastery | Trade Routinely And Reliably.USD/CAD offers a good representation of a sideways market.
This has allowed for increased probability, with clear entries/exits.
Here's my take.
Usdcad sell Intraday trade is ready noe
Just wait to sweep upside then we will enter in sell after a confirmation
USD/CAD For Bullishyou can go long now
or
wait for entry point and go long
- General Trend is Up Trend
- Price Break current resistance at red arrow and will try to retest it
have fun :)
USDCAD Will Move Lower! Sell!
Here is our detailed technical review for USDCAD.
Time Frame: 1h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The price is testing a key resistance 1.378.
Taking into consideration the current market trend & overbought RSI, chances will be high to see a bearish movement to the downside at least to 1.374 level.
P.S
Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all.
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BOS or CHOCH! What's the difference?Break of Structure (BOS) is when price is in a dominant trend, either uptrend or downtrend, price will respect the trend by/and breaking into new structure by breaking above or below a HH or LL.
Change of Character (CHOCH) happens when price pulls into a higher timeframe POI and has a CHOCh on a lower timeframe by disrespecting the dominant trend and creating a new cycle or trend.
