USDCAD SETUP SHORT FOR NEXT WEEK. After a major climb, I expect to see a retracement in this area.
As always, use your head and correct money management.
USDCAD trade ideas
USDCAD short pullback needs to happen I THINKHi everyone, so we shorted USDCAD after one of the strongest trends I have seen in a while.
I am ready to be proven wrong again.
Short USDCADIn my technical view market going fall from this point and currency index also showing sell side
today there is event
USDCAD GOING THROUGH THE ROOF (2)Now 's the time !
News CPI for USD today, more impact on currencies than US100
It has followed our large uptrend since 1rst of cotober now ;
it is now looking to push through the purple key level, which is pretty weak and ready to be broken ;
did not break too low tonight, even more ready to blow up
USD/CAD Analysis: Exchange Rate Rises for Seven Consecutive DaysUSD/CAD Analysis: Exchange Rate Rises for Seven Consecutive Days
Data shows that USD/CAD has formed seven consecutive bullish candles since 3 October, and today could mark the eighth in this sequence.
This strong rise in the pair has been driven by the strengthening of the US dollar amid several fundamental factors. Media reports suggest that traders are reassessing the likelihood of further Federal Reserve rate cuts after yesterday’s inflation data release (as reported by Forex Factory):
→ Core Consumer Price Index (CPI) month-on-month: actual = 0.3%, expected = 0.2%, previous = 0.3%;
→ CPI month-on-month: actual = 0.2%, expected = 0.1%, previous = 0.2%;
→ CPI year-on-year: actual = 2.4%, expected = 2.3%, previous = 2.5%.
Market participants may be speculating that the Fed will hold off on further monetary easing. Will the US dollar continue to strengthen against the CAD?
Technical analysis of the 4-hour USD/CAD chart shows that:
→ The RSI indicator remains above 80, a rare occurrence in 2024;
→ The price is nearing the upper boundary of a descending channel (drawn from key reversal points marked by arrows);
→ The price is below the 1.3800 level, which acted as support in August but was broken, suggesting potential resistance.
These technical factors point to the possibility of at least a bearish correction from overbought levels after a 2% rise in USD/CAD from its October low. The long upper wicks on recent candles further support this idea.
Bears may attempt to take control with the release of key news today:
→ 15:30 GMT+3 – Canadian labour market data;
→ 15:30 GMT+3 – US Producer Price Index (PPI) data.
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USDCAD-SELL strategy 12-hourly chartThe pair has moved solidly for a prolonged period of time. Yes, the 2-D AND 3-D charts are very positive for the pair, however, there must be a correctio. We are way overextended on all fronts, and if OIL will move little higher, which is possible, the pair should adjust.
Strategy SELL @ 1.3760-1.3800 and take profit near 1.3687 for now. SL of course based on your own risk appetite.
USDCAD Approaching our sell entry.The USDCAD pair has been rising since the September 25 Low, all inside a 2-year Rectangle pattern of a wide range. The 1D RSI is about to enter the 70.00 overbought zone and every time it has done so within this pattern, a little later it got rejected to at least the 1D MA50 (blue trend-line).
As a result, we will wait until 1.38500 and sell, targeting 1.36000 (which would be a -1.86% decline from the top, the minimum from the group of similar declines) or take the profit if the price hits the 1D MA50 before 1.36000.
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USDCAD Top-down analysis Hello traders, this is a complete multiple timeframe analysis of this pair. We see could find significant trading opportunities as per analysis upon price action confirmation we may take this trade. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
SELL USDCADIn todays session we are monitoring USDCAD for selling opportunities. Our entries are at current price 1.37552 and our targets at 1.36689 and much much lower. Our stops are at 1.37820. This will be a great opportunity to short the dollar. Use proper risk management.
USD CAD The USD/CAD pair extends the rally to around 1.3745 during the early Asian session on Friday. The hotter-than-expected US inflation data and hawkish comments by Federal Reserve officials provide some support to the Greenback ahead of the US September Producer Price Index and Canadian job data.
USD/CAD extends upside to near 1.3750 ahead of US PPI, Canadian job report
Confirm chart
USDCAD h4 | Bullish Reversal Based on the H4 chart analysis, we can see that the price is falling toward our buy entry at 1.3703, which is an overlap support.
Our take profit will be at 1.3804, a pullback resistance close to the 161.8% Fibo extension
The stop loss will be placed at 1.3635, which is a pullback support level.
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Journal Journal Journal!The reason why we are still not rich is because we are driven but not serious, we are passionate but not focused. Knowing what you want and knowing what the market does are two different things, have an intention, My side when I don't know what to make of the chart, I fold my arms and open my music pad. For this chart I fold my arms and wait for the two points Identified to be tapped
USDCAD SC4M
H&S
M highs
W
H&S
Fib compl -68
D
Rejection candle
4H
Decel 3
1H
Ascending channel with H&S
DXY
M zone
Weekly Inv H&S is still not made
Looks like we can get a pullback from hereLooks like we can get a pullback from here
I will be looking to position myself with my students and followers as highlighted on the chart if we get the confirmation.
Accumulation / Manipulation / Distribution
- No liquidity raid = No trade
- Never buy high and never sell low
“Adapt what is useful, reject what is useless, and add what is specifically your own.”
Dave FX Hunter ⚔
USDCAD 1:7 RR trade idea The dollar index almost hit a 2 year low but the price reversed only half a percent higher from the said level. After CPI news, the dollar ended its bullish streak, after touching the highs of 2020. For that reason the USDCAD, which has just finished its second bullish leg by the Elliot Wave theory(6 bullish days in a row). Currently looking for a second correction, to what quarterly VWAP high indicates. Looking for a 7% short trade setup(1% risk) targeting 1.365(Quarterly VWAP + 0.382 retarcement) for 100 pips.
This analysis is taught and provided by Fractals Trading Community.
Trade safely and expect the unexpected,
Mei
CADUSD LONG VERY SOONM/M CAD coming tomorrow
In the green zone, looking for an escape with a lower low then an explosion at the top
Combining fundamentals and technicals, seems safe to say that after a liitle zig-zag tonight, any CAD asset will go through the roof
USDCAD → Breakout. One step away from distribution...FX:USDCAD makes an attempt to break through the resistance of the “wedge” consolidation on the background of a growing dollar, the reasons for which are economic data from the USA. NonFarm Payrolls are ahead!
On the weekly timeframe, the currency pair is bouncing off the support trendline and heading towards resistance, the pattern as a whole resembles an ascending triangle. But still it is a global sideways range. The movements in it are quite difficult and the price is dragging between the local levels. Ahead is the NFP report, which may become an engine for the price, and based on the assumptions from Wednesday and ADP NonFarm we can assume that on this background the growth of the dollar and the currency pair may continue.
Technically, the bulls are trying to hold the defense above the previously broken resistance. The impulse is beginning to form...
Resistance levels: 1.358, 1.364
Support levels: 1.353, 1.347
If the bulls keep the price in the new plane (buying zone), the price may reach the nearest targets quite quickly. If the news will be favorable, then in this case a rally to the distant targets may be formed. Unpredictable data will bring the currency pair back to the range and may bring the price down to 1.347
Rate, share your opinion and questions, let's discuss what's going on with ★ FX:USDCAD ;)
Regards R. Linda!
USDCADUSDCAD is in strong bullish trend.
Potentially printing HH and HL.
No sign of reversal here.
We buy at CMP.
Market Analysis 10/10/24Hello,
thank you all for taking the time to join me again.
this video is intended to review the fundamentals and current trends/ prospective trades.
USDCAD - Parabolic Exhaustion?USDCAD has been in a strong bull run for the last week with price increasing at an increasing rate leading to a parabolic extension.
I may be time to revisit the Mean.
Wait for confirmation of fan trend line breaks before entering, as the bull run could continue basis the upcoming news.
USDCAD hit the 61.8% retracement Intraday Update: As expected in the end of day update yesterday, the USDCAD has hit the 61.8% retracement at 1.3748 (high of 1.3747 this far) and the overbought RSI may suggest that we may see a bit of a pullback near these levels ahead of CPI. A strong US CPI print could put the 1.3791 in play next.
USD/CAD FX | Pre US CPI Key DataUSD Strength has fed well into this week and brought USD/CAD off from the mid-point of the long term sideways movement we have seen form over time.
Any hopes that are further extended (Soft Landing) will likely reduce inflow into USD (Dovish). Any other outcome that supports a hawk case will likely do the opposite.
Price momentum really allows for spread out shorts, should you take them nearer the upper sideways TL.
END of USD Bullish Euphoria?USDCAD seems to be approaching a major resistance zone. Price is creating a massive head and shoulder pattern on Weekly chart. From next week we can look to sell USDCAD. For now, we allow price to complete bullish move into the 1.38 resistance. Be on the lookout for this one.
