USDCAD trade ideas
USD/CAD Breaks Resistance: Eyeing Targets at 1.3615 and 1.3700USD/CAD has broken through the resistance level at 1.3530, signaling a potential upward move. The first target is at 1.3615, where we might see some initial resistance. If the momentum continues, the pair could reach the second target at 1.3700, marking a significant bullish trend. Traders should watch these levels closely for confirmation of the breakout and potential further gains.
USDCAD BullishUSDCAD was in a bearish trend and formed a divergence. Additionally, two negative news events related to the CAD suggest that USDCAD may shift to a bullish trend
Usdcad buy setup (CPI Wednesday)Price gave us a break above our recent key level on 4hr timeframe. We have here, pur 2hr chart with a good fair value gap and a demand below.
Checklist:
-Trend (Bullish)☑️
-Break of structure ☑️ (bullish)
-Fair value gap ☑️
- Demand zone ☑️
Goodluck 🌟
SELL USDCAD for downtrend continuation SELL USDCAD for downtrend continuation
There is a strong trend on the daily time frame and all that have happened in the past days was just consolidation ( or trend pull back before continuation) .....
The daily time frame is showing strength continuation from this level of support and resistance so we are looking for the trend to push forward from here .....
TAKE PROFIT : take profit will be when the trend comes to an end, feel from to send me a direct DM if you have any question about take profit or anything
Remember to risk only what you are comfortable with…….trading with the trend, patient and good risk management is the key to success here
USDCAD SELL WEEKLY TFWeekly TF Bearish shift of structure.
Price needs to retest and reject the resistance
area 1.36000 to take a sell.
2 Square Set-UpWeekly Bias: Bullish
1hr Chart Price showed an imbalance which shifted the market aggressively. After drawing a box on the hour chart of this imbalance candle. I went to the 15min chart where I noticed a FVG set up within this range. This is what I call a 2 Square Set Up.
Entry: Once price enters this area I will take the trade and place SL under the 1st candle of the FVG. Risk to Reward Ration=1:3
USDCAD Trade Idea I got that bullish bias last night before I went to sleep although I didn't take but EU was wrong and it was my analyse it from somewhere else it's what it is, I will not take that trades again, but hopefully USDCAD was a great trade.
USD/CAD Bullish Turnaround After One-Month DowntrendUSD/CAD is signaling a bullish reversal after a month-long bearish trend. The pair is expected to reach 1.36140 as its first target in this upward movement. Additionally, the RSI indicator failed to pull the price back from its overbought condition, providing extra strength to this bullish rally
Review of USDCAD tradesIf you refer back to our post on USDCAD, it went exactly as we anticipated.
That is, to expect a retracement closer to the 50MA and to drop down to the M15 charts to find favourable entry points. On this post, I will delve deeper on my entry processes and will share as much as I possibly can the entire thought process in my head.
USDCAD: Bearish Continuation & Short Signal
USDCAD
- Classic bearish setup
- Our team expects bearish continuation
SUGGESTED TRADE:
Swing Trade
Short USDCAD
Entry Point - 1.3592
Stop Loss - 1.3625
Take Profit - 1.3531
Our Risk - 1%
Start protection of your profits from lower levels
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M15 Intraday on USDCAD (repost)*REPOST*
(Previous one got removed)
Update: Price retraced into the range closer to 50MA. I will be dropping down to M15 charts to find a trade setup.
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With the upsurge move we’ve seen last Friday, it seems the uptrend for USDCAD seems decisive enough for me to confidently want to position myself as a buyer.
At this juncture however, I will be waiting for prices to retrace much closer to perhaps the 50MA and subsequently use the M15 trading setup for this particular trade. I will update if there is a favourable buy setup at a later time.
More on what caused the move last Friday:
The U.S. Dollar increased last Friday primarily due to stronger-than-expected economic data in the U.S. and Europe, which highlighted persistent inflationary pressures. This reinforced expectations that central banks, particularly the Federal Reserve, may maintain higher interest rates for longer. The release of positive U.S. PMI (Purchasing Managers' Index) data suggested that the economy remains resilient, which supported the dollar's strength as traders speculated on fewer or delayed rate cuts by the Fed.
Additionally, the market was anticipating the U.S. Personal Consumption Expenditures (PCE) inflation report, a key measure of consumer prices, which added to the demand for the dollar as investors positioned themselves ahead of this potentially market-moving data
USD/CAD trend suggests higher pricesUSDCAD is forming a mini inverse head and shoulders pattern that has developed over the last three days. A break above 135.80 could push the price up to 136.02. The short-term trend remains bullish as long as the price stays above 135.45.
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usdcad short tradeBearish Indicators
Moving Averages:
50-period EMA: The price is currently below the 50-period Exponential Moving Average, indicating a bearish trend.
200-period EMA: The price is also below the 200-period EMA, reinforcing the bearish sentiment.
Relative Strength Index (RSI):
The RSI is below 50, suggesting that the momentum is on the bearish side. If it drops below 30, it would indicate an oversold condition, but for now, it supports the bearish outlook.
MACD (Moving Average Convergence Divergence):
The MACD line is below the signal line, and both are below the zero line, which is a strong bearish signal.
Volume:
There has been a decrease in trading volume, which often accompanies a bearish trend as it indicates a lack of buying interest.
USD/CAD Rebounds from Key Demand Zone as Retail Traders BearishAs predicted last week, the USD/CAD pair has rebounded from a key demand area, in line with expectations. The latest Commitment of Traders (COT) report continues to highlight a bearish stance from retail traders, who are positioned at their most bearish levels since 2009. This sentiment contrasts with the recent price action, which suggests a potential recovery for the USD.
Today’s release of critical economic indicators, including the USD Core PPI m/m, PPI m/m, and Unemployment Claims, could provide further momentum to the USD. If these reports come in positive, they may serve as a catalyst for the USD to regain even more value against the CAD.
From a technical perspective, the USD/CAD pair is positioned in a strong demand zone, which has already facilitated a rebound. With retail traders remaining firmly bearish, the potential for a bullish move increases, especially if the upcoming data aligns favorably for the USD.
While the market waits for these key economic releases, traders are likely to keep a close eye on the indicators to assess the USD’s next move. A positive outcome could signal a further rally, reinforcing the recovery already underway. However, it's essential to stay patient and see how the data unfolds. The market reaction to today’s news will provide clearer direction for USD/CAD’s future trajectory.
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USDCAD risky buy Although the bears are in control I believe a turnaround is possible based on the weakness of the Canadian dollar this trade could be affected by economic data.
USDCAD H4 I Bullish Bounce Based on the H4 chart analysis, we can see that the price is falling to our buy entry at 1.3482, which is an overlap support close to 61.8% Fibo retracement.
Our take profit will be at 1.3534, a pullback resistance.
The stop loss will be placed at 1.3443, which is a swing low support level.
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USDCAD - Analysis Analysis on screen. Keeping an eye on this pair, could be a great sell opportunity coming
Imbalance Correction Weekly Bias: Bullish
15min Chart: Price Touched Buyside Liquidity but never filled imbalance, waiting for price to fill imbalance on 15min chart.
Why I took this trade: Wanted to get a few handles on the bearish correction before price fills imbalance for bullish move to the upside for more handles
#USDCAD Short Setup#USDCAD SHORT 🔻
Price tapped into a 4H First
fair Value Gap (FVG) and grabbed liquidity 💸 above key highs
Tight risk with SL above FVG targeting lower liquidity pools.
#LowRisk #SmartMoney
This is my personal view.
2024/08/09 - Short USDCAD on 123Saw this 123
Horizontal Support/Resistance, Diagonal Support/Resistance
Bailed out when I realized there wasn't a moving candle close for a small loss
USD/CAD hits resistance at pivotal zoneUSD/CAD has drifted lower today, suggesting that investors are not too alarmed by the jobless rate rising to a 7 year high of 6.6% as we found out on Friday. Last week saw the BoC cut rates for the third time in as many meetings. Investors are expecting a couple of more cuts before the year is out, particular if the jobs data shows further weakness. However, this does not mean the USD/CAD will necessarily rise. The bigger driver for this pair will be the US dollar, as it the case with all major currency pairs. The greenback came under somewhat intense pressure last month as investors priced in Fed's expected rate cuts, totally around 100 basis points for this year. With the US dollar on a slippery slope, the USD/CAD could resume lower now that it is testing a pivotal area between 1.3570 to 1.3600 region. Previously this area was major support until it gave way a couple of weeks ago. Once support, will this area now turn into strong resistance and lead to another drop?
By Fawad Razaqzada, market analyst at FOREX.com
