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U.S. Dollar / Canadian Dollar

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USDCAD trade ideas

Sell Trade Idea for USD/CADDescriptions The USD/CAD pair, representing the exchange rate between the U.S. Dollar (USD) and the Canadian Dollar (CAD), presents a potential sell opportunity driven by several key fundamentals: - **Rising Oil Prices:** As one of the world's largest oil producers, Canada’s currency tends to strengthen when oil prices rise. With increasing global demand and supply constraints, higher oil prices could boost the CAD, weakening the USD/CAD pair. - **Canadian Economic Resilience:** Canada's economy is showing strong resilience, especially in sectors like commodities and natural resources. This could lead to a stronger Canadian Dollar, contributing to downward pressure on USD/CAD. - **U.S. Inflation Concerns:** Inflationary pressures in the U.S. may weigh on the USD, especially if they lead to uncertainty around future monetary policy. This could weaken the U.S. Dollar relative to the Canadian Dollar. - **Bank of Canada’s Hawkish Stance:** With the Bank of Canada signaling potential rate hikes to combat inflation, the CAD may benefit from increased investor confidence, further pushing USD/CAD lower. Given these economic conditions, a sell trade on USD/CAD may provide an opportunity to benefit from a stronger Canadian Dollar in the short to medium term. Disclaimer Trading in the forex market involves significant risk and may result in substantial losses. The content provided here is for informational purposes only and should not be considered financial advice. Forex trading is highly speculative, and currency prices can be influenced by a range of economic, geopolitical, and market factors. Always perform your own due diligence, assess your risk tolerance, and consult with a financial advisor before making any trading decisions. Past performance is not indicative of future results.
Short
by MoonTradingForecast
USDCAD - H4Hello People, Fx Dispenser HERE. As we can see H4 structure is bullish, however momentum is bearish. If price breaks above "1.35171" we can expect a short term bullish reversal to around "1.35287", or "1.35490". If price must continue to the down side, It must not break and close above 1.35490, if this happens, and price reaches previous highs, be wary of a liquidity sweep to the down side. A break and close above previous highs would indicate bullish continuation. My Bias is 'Short term bull reversal with a bearish continuation".
Short
by fx_Dispenser
Analysis of USD/CAD: Bank of Canada Cuts Interest RateAnalysis of USD/CAD: Bank of Canada Cuts Interest Rate Yesterday, the Bank of Canada reduced its key interest rate by 25 basis points to 4.25%. Its governor, Tiff Macklem, cited weak economic growth and suggested that a more substantial rate cut could be considered in the future. While the rate cut was widely expected, the currency market reacted with a surge in volatility. For instance, on the USD/CAD chart: → On 3 September, ahead of the decision, the USD/CAD rate was climbing; → On 4 September, immediately after the announcement, the rate dropped sharply. What could be the outlook for the exchange rate, which has fallen by approximately 3% from early August to the end of the month, breaking key resistance at 1.3600? A technical analysis of the USD/CAD chart shows that the rate is best described by a downward red channel. The median line of this channel acted as resistance (shown by an arrow) earlier this week, pushing the rate towards the trendline (in blue), which had supported the rise from the lower boundary of the red channel. This support is further reinforced by the 1.3500 level. It is therefore reasonable to assume that the market is reaching a temporary balance between buyers and sellers, leading to fluctuations in the USD/CAD rate between the red median line and the 1.3500 level. However, traders should remain cautious of a potential resurgence in bearish pressure, which dominated throughout August, as the 1.3500 level could again act as resistance. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
by FXOpen
2
USDCAD 1H Analysis: Resistance and Support Levels to Watch for SThe chart shows the USDCAD currency pair on a 1-hour timeframe, where the price is currently trading around 1.35124. The market has been in a downtrend, but there is potential for short-term consolidation and a possible retracement before further movement. Key Observations: Downtrend Momentum: The price has been steadily declining from the recent high, reaching a lower support zone. The resistance level above (1.3600-1.3620) is expected to act as a key zone for any retracement. Resistance Zones: Immediate Resistance: The price might retest the 1.3600 area before continuing the downtrend. This level aligns with the previous structure and is an important area for sellers to enter. Major Resistance: There is another significant resistance zone around 1.3850 where the price previously reversed, indicating strong selling pressure. Support Zones: Immediate Support: A potential move towards 1.34376 is indicated, where buyers could re-enter the market, and further price consolidation may occur. Major Support: The level around 1.3300 is a significant support area, and a break below this level could lead to further downward momentum. RSI Indicator: The RSI is showing bearish momentum, and the market may continue to push lower in the short term before any significant retracement occurs. Expected Price Movement: In the short term, the price could bounce back toward the 1.3600 resistance area before facing selling pressure. If it fails to break through, a decline toward the support level at 1.34376 and further down to 1.3300 is possible. On the other hand, a break above the resistance would invalidate the bearish bias, signaling further bullish movement. This setup presents both short-term selling opportunities on retests of resistance zones and potential buying opportunities at support levels for a range-bound strategy.
Short
by Nigouk
USDCAD - Set and Forget1. Objective: The objective is to enter a sell trade and ride the expected downward trend to the Wave 5 completion. 2. Key Levels: Resistance Levels: 1.35880: Major resistance level (D1 R) above Wave 4. Support Levels: 1.32672: Key support level (D1 S) and the expected completion of Wave 5. Invalidation Level (Stop Loss): 1.35880, the resistance level, as a break above this would invalidate the expected downward move and signal that the Wave 4 correction is still in play. 3. Entry Strategy: Entry Point (Sell Stop): 1.34990 This level is slightly below the current price and the confirmation sell stop level indicated on the chart, signaling the start of the bearish breakout. 4. Profit Targets: First Target (Conservative): 1.34000 This is a minor level, providing a conservative target in case the move takes time to develop fully. Second Target (Aggressive): 1.32672 This is the key support level (D1 S) and the expected completion of Wave 5, making it the aggressive target for the full downward move. 5. Stop Loss: Stop-Loss Level: 1.35880 Set above the resistance level of 1.35880 to protect against further upward movement in case the analysis is invalidated. 6. Risk-Reward Ratio: Risk: 89 pips (from 1.34990 entry to 1.35880 stop-loss). Reward for Target 1: 99 pips (from 1.34990 entry to 1.34000). Reward for Target 2: 232 pips (from 1.34990 entry to 1.32672). Risk-Reward Ratio: Target 1: 1:1.11 (for a conservative target, acceptable). Target 2: 1:2.6 (for an aggressive target, highly favorable). Conclusion: Strategy: Enter a Sell Stop at 1.34990, with a stop-loss at 1.35880. Profit Targets: First target at 1.34000 and second target at 1.32672. This plan offers a strong risk-reward ratio, particularly when targeting the extended move to 1.32672, which aligns with the completion of Wave 5. This trading plan provides a clear structure, strong risk management, and high probability of success based on the current wave structure analysis. Trading Suggestion Sell Stop Entry Level: 1.34900 Stop Level: 1.35700 Profit Level: 1.32700
Short
by TradingDame
1
USDCAD Possible Short Position BBMA OA ReEntry Zone Zero Loss1H - Re-Entry 15m - 50 EMA Rejection + Bollinger Band Rejection 5m - Entry in MAHI Note: * Cancel trade or cut-loss when candle close Above MAHI (2 Green Color Lines) in 4H * 1:3 RRR * TAYOR A combination of multiple moving averages and Bollinger Bands is the BBMA OMA Ally strategy. It provides an extensive and reliable examination of market trends and patterns by utilizing the strength of both indicators. It is a multi-time frame analysis I am using the BBMA OA Reentry Zone Zero Loss Strategy as a basic reaction to recent market events, rather than attempting to forecast the market's future course
Short
by GreggiBond
Idea on a chartWe have a great trend.USD/CAD edges lower to near 1.3545 in Wednesday’s early Asian session. US ISM Manufacturing PMI came in at 47.2 in August vs. 46.8 prior, missing the estimation. The BoC is likely to cut rate at its September meeting on Wednesday. The USD/CAD pair trades on a weaker note around 1.3545 during the early Asian session on Wednesday. The weaker-than-expected US ISM Purchasing Managers Index (PMI) drags the Greenback lower. The Bank of Canada (BoC) interest rate decision will be the highlight later on Wednesday, with a 25 basis points (bps) rate cut expected. The business activity in the US manufacturing sector continued to contract, albeit at a softer pace in August. The US ISM Manufacturing PMI rose from an eight-month low in July at 46.8 to 47.2 in August. This figure was below the market consensus of 47.5 and register the lowest reading since November.
by EZIO-FX
2
USD/CAD H4 | Potential bullish breakoutUSD/CAD is rising towards a potential breakout level and could jump higher from here. Buy entry is at 1.3575 which is a potential breakout level (wait for the 1-hour candle to close above the Buy Entry for confirmation). Stop loss is at 1.3517 which is a level that lies underneath a pullback support. Take profit is at 1.3699 which is an overlap resistance that aligns with the 50.0% Fibonacci retracement 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. 62% 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. 59% 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 - Make CAD Great AgainWith the world reopening, Canada will keep bringing in those black gold profits thus strengthening the CAD relative to the USD, which gaining power due to being the financial "central" currency. A second wave of Covid-19 seems to be less likely day after day and this will help a lot to boost consumer confidence which goes hand in hand with consumer spending. So, we can expect a good recovery in general businesses overall, pushing up the major indexes like US30, NAS100 , GER30 etc which are usually correlated, positively, to pairs of the type XXX/USD, this mean, if one major index goes up, so are the other major indexes and so are the major pairs! This being said, if XXX/USD goes up with a overall economic recovery, pairs like USD/XXX should go down and this brings me to USDCAD . USDCAD used to roam the area between 1.24 and 1.36. As of right now we are on a descending triangle of the major timeframes. A break from this triangle to the downside, could push us towards 1.36 area over the next few weeks / months. I am personally looking for this break to the downside, I have intentions to hold a position for quite some time on this one.
Short
by TradingAdventures
1