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U.S. Dollar / Canadian Dollar

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USDCAD trade ideas

#USDCAD 1DAYUSDCAD Daily Analysis The USDCAD pair is currently testing a significant resistance level on the daily chart, which has previously acted as a barrier, preventing upward movement. This resistance level suggests potential downside pressure, providing a favorable setup for a sell opportunity if the price fails to break through. Technical Outlook: - Pattern: Resistance Level - Forecast: Bearish (Sell Opportunity) - Entry Strategy: Consider selling near the resistance level Traders may look to enter a sell position around this resistance area, with targets set at key support levels below. Confirmation from indicators like RSI indicating overbought conditions or MACD showing bearish divergence can strengthen this setup, reinforcing the bearish outlook for USDCAD.
Short
by PIPSFIGHTER
USDCAD h4 | Bullish Bounce Based on the H4 chart analysis, we can see that the price is falling to our buy entry at 1.3867, which is a pullback support that aligns with a 61.8% Fibo retracement. Our take profit will be at 1.3934, a pullback resistance. The stop loss will be placed at 1.3809, which is a swing-low support 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 (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 64% 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, previously FXCM EU Ltd (www.fxcm.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 Trading Pty. Limited (www.fxcm.com): 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 www.fxcm.com Stratos Global LLC (www.fxcm.com): 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.
Long
by FXCM
1
USDCAD H4 | Bullish Bounce Based on the H4 chart analysis, we can see that the price is falling to our buy entry at 1.3867, which is a pullback support close to 61.8% Fibo retracement. Our take profit will be at 1.3934, a multi-swing high resistance. The stop loss will be placed at 1.3809, which is an overlap support 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 (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 64% 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, previously FXCM EU Ltd (www.fxcm.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 Trading Pty. Limited (www.fxcm.com): 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 www.fxcm.com Stratos Global LLC (www.fxcm.com): 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.
Long
by FXCM
1
USDCAD Trading IdeaBased on Simple Technical Analysis ( Trendline + Support & Resistance ) Risk Disclaimer: Please be advised that I am not telling anyone how to spend or invest their money. Take all of my analysis as my own opinion, as entertainment, and at your own risk. I assume no responsibility or liability for any errors or omissions in the content of this page, and they are for educational purposes only. Any action you take on the information in this analysis is strictly at your own risk. There is a very high degree of risk involved in trading. Past results are not indicative of future returns. Good luck :-)
Short
by ShahedZare
USDCAD Elliott Wave Analysishello friends In the USDCAD currency pair, we see the formation of a 5-wave Elliott pattern. This clear pattern consists of 5 waves. Only wave 5 has many details and wave 3 is stretched. Wave 5 has formed an ascending channel, and when this channel is broken and a pullback is placed on it, you can enter into a sell transaction. The confirmation of this theory is the divergence between waves 3 and 5, and this divergence can also be seen between the microwaves of wave 5. To support me, I recommend you install Trading View software on your phone and see my analysis and support me with your comments and Boost. Be successful and profitable.
Short
by M_Gheysvandi
Bearish reversal?The Loonie (USD/CAD) is rising towards the pivot which is an overlap resistance and could reverse to the pullback support. Pivot; 1.3892 1st Support: 1.3851 1st Resistance: 1.3921 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
USD/CAD 4-Hour Forecast: Short Position Setup🔻 **USD/CAD 4-Hour Forecast: Short Position Setup** 📉 USD/CAD is currently trading at **1.38887**, with a potential move down to our target of **1.35251**. Here are the key resistance and support levels we’re tracking as this short position unfolds: 🔍 **Key Levels to Watch:** - **Primary Resistances:** 1.39587, 1.39309 - **Intermediate Supports:** 1.38237, 1.37647, 1.37154, 1.36888, 1.36610, 1.36248, 1.36094, 1.35641 - **Bearish Target:** 1.35251 💡 **Trading Insight:** Each support level may act as a confirmation for this downtrend if broken. Watching for strong moves at these points will be key. 👉 What’s your view on USD/CAD? Let’s discuss in the comments! #USDCAD #ForexTrading #4HChart #ShortPosition #PricePrediction #Pipnest
Short
by pipnest
USD/CAD teeters on bearish reversal brink ahead of US electionBearish reversal patterns generated by USD/CAD on the daily timeframe have enjoyed a decent track record recently, especially following a pronounced bullish trend. That makes today's early price action interesting, with the price reversing hard after closing at fresh 2024 highs on Friday. As the daily candle has yet to be competed, getting short pre-emptively screens as a low probability setup. But if we do see a bearish engulfing candle print, it will provide a decent short setup heading into US election day, especially if the price bounces a touch from current levels. To make the trade stack up from a risk-reward perspective, the price would need to break several nearby levels, including the uptrend from October 15 and horizontal support at 1.3869. If they were to fold, 1.3815 is one potential target with 1.3748 and 1.3700 the next after that. A stop-loss order above Friday's high would offer protection against reversal. Bolstering the case for potential downside, RSI (14) has broken the uptrend it was sitting in after sitting in overbought territory for more than a week, hinting bullish momentum may be starting to turn. While the signal is yet to be confirmed by MACD, that too is looking like it may soon rollover as it moves closer to the signal line. Good luck! DS
Short
by FOREXcom
Heading into overlap resistance?USD/CAD is rising towards the resistance level which is an overlap resistance that aligns with the 50% Fibonacci retracement and could reverse from this level to our take profit. Entry: 1.3893 Why we like it: There is an overlap resistance level which aligns with the 50% Fibonacci retracement. Stop loss: 1.3921 Why we like it: There is a pullback resistance level that is slightly below the 78.6% Fibonacci retracement. Take profit: 1.3850 Why we like it: There is a pullback support. Enjoying your TradingView experience? Review us! 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
USD/CAD chart on the 4-hour timeframeUSD/CAD chart on the 4-hour timeframe, here's a detailed analysis for potential future movements, along with suggested entry, take profit (TP), and stop loss (SL) levels based on a 1:3 risk-to-reward ratio. Analysis: 1. Trend Observation: Uptrend: USD/CAD has shown strong bullish momentum, reaching new highs in the recent period. The pair appears to be in an uptrend, with higher highs and higher lows. 2. Key Support and Resistance Levels: Resistance: Around 1.3950 (near recent highs). This level has been tested but not broken, indicating selling pressure. Support: Around 1.3810 and 1.3680. These levels have previously seen buying interest and could provide support if there is a retracement. 3. Potential Scenarios and Setups: Bullish Scenario (If uptrend continues): USD/CAD may find support near 1.3810, and a bullish reversal from this level could signal a continuation of the uptrend. Watch for bullish confirmation signals such as strong green candles near support. Bearish Scenario (If resistance holds or a reversal occurs): If USD/CAD fails to break above 1.3950 and shows signs of reversal, a pullback towards support at 1.3680 is possible. Strategy Summary: 1. Risk-to-Reward Ratio: Both setups are designed to provide a 1:3 risk-to-reward ratio. 2. Market Confirmation: Wait for confirmation patterns (e.g., candlestick patterns like engulfing candles) before entering to increase the probability of success. 3. Monitor Economic Events: USD/CAD can be impacted by U.S. and Canadian economic announcements, oil prices, and interest rate decisions from the Federal Reserve and Bank of Canada.
Short
by ShariarsLife
USD/CAD H4 | Falling to swing-low supportUSD/CAD is falling towards a swing-low support and could potentially bounce off this level to climb higher. Buy entry is at 1.3823 which is a swing-low support that aligns with the 23.6% Fibonacci retracement level. Stop loss is at 1.3745 which is a level that lies underneath a swing-low support and the 38.2% Fibonacci retracement level. Take profit is at 1.3943 which is a multi-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 (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 64% 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 (www.fxcm.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 Trading Pty. Limited (www.fxcm.com): 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 www.fxcm.com Stratos Global LLC (www.fxcm.com): 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.
Long
by FXCM
USDCAD - Trump gave a new trend to the dollar!The USDCAD currency pair is above the EMA200 and EMA50 in the 4H timeframe and is moving in its medium-term bullish channel. If the upward movement continues, we can see the supply zone and sell within that range with the appropriate risk reward. The correction of this currency pair towards the demand zones will provide us with the next buying positions. Following the announcement of Donald Trump’s election victory, the U.S. dollar has risen against almost every currency globally. Markets are not only preparing for Trump’s presidential win but also foresee a Republican-controlled Congress, which is crucial for the incoming president’s ability to implement policy changes through the U.S. government. Ahead of the October 23 monetary policy meeting, officials at the Bank of Canada believed that inflationary pressures were on a downward trend and further tightening of monetary policy was unnecessary. They considered a 0.25% rate cut, though strong consensus emerged for holding off based on economic data observed since July. Officials noted that a rate cut would require time to sufficiently impact per capita consumer spending and counterbalance the overall consumption decline driven by slower population growth. They agreed to continue normalizing their balance sheet through maturing bonds. According to informed sources, OPEC+ has reached a preliminary agreement to postpone an increase in oil production for December. This agreement includes countries such as Saudi Arabia, Russia, Iraq, the UAE, Kuwait, Kazakhstan, Algeria, and Oman, which have decided to extend their voluntary oil production adjustments until the end of December 2024. One key factor weakening the Canadian dollar is the country’s economic challenges. The Canadian housing market is facing serious difficulties due to rising interest rates, and the decline in demand for new home purchases has dimmed future prospects for the market. Additionally, slower population growth, largely dependent on government immigration policies, is negatively impacting the economy. Nonetheless, some hope that China’s economic stimulus efforts and rising natural commodity prices might support the Canadian dollar, though these factors carry their own risks. BlackRock has stated that expectations for a Federal Reserve rate cut are overly optimistic. The bank cited the following reasons: U.S. third-quarter GDP data show that consumers remain the main driver of economic growth. The average monthly job creation over the past three months has been 104,000 jobs, a healthy rate, which is likely to rise considering hiring pauses due to storm disruptions.
Long
by Ali_PSND
USDCAD H4 LONG TERM Buying TRADE IDEAHello Traders In This Chart Usdcad HOURLY Forex Forecast By FOREX PLANET today USDCAD analysis 👆 🟢This Chart includes_ (USDCAD market update) 🟢What is The Next Opportunity on USDCAD Market 🟢how to Enter to the Valid Entry With Assurance Profit This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Channel
Long
by ForexMasters2000
2