Get started

U.S. Dollar / Canadian Dollar

No trades
See on Supercharts
Overview News
Ideas
Discussions Technicals Seasonals Economic Calendar

USDCAD trade ideas

USDCAD key trading level at 1.4260The USDCAD currency pair intraday sentiment appears bearish, supported by the confirmed loss of support of the longer-term sideways consolidation trading range. However, since the spike caused by the possible tariff announcement on 03rd February 2024, the USDCAD price action is displaying signs of bearish behaviour. The key trading level is at 1.4260. An oversold rally from the current level and a bearish rejection at 1.4260 level could target additional downside support at 1.4150 followed by the 1. 4100 and 1.4025 levels over the longer timeframe. Alternatively, an oversold rally from the current levels and a confirmed breakout above 1.4260 resistance and a daily close above that level would negate the bearish outlook opening the way for a further rally and a retest of 1.4300 resistance followed by 1.4350 and 1.4400 levels. This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
by TradeNation
USDCAD SHORT incomingUSDCAD looks to be setting up for a nice short, its not quite ready yet and needs to break this small consolidation range and then fail at around 1.46 which has a major resistance zone. The idea has a number of confluence points with the DXY looking top heavy and too coinciding movement hitting a major resistance above 110 at 113. NFP news was good for the dollar which we saw it pump. More fundamentals in the near future will determine the WHEN for this move to start. Technically we are poised for the reversal with a target of 1.39, a support area and 0.618 fib zone. Currently we are trading at the high end of the trend with the RSI stating overbought territory. This may not play out next week and may take another couple of weeks. Forth coming events are USD - inflation rate data and CPI. Do you own analysis and please let me know your thoughts.
Short
by PLaceUrBetsPlease
Bearish reversal off pullback resistance?The Loonie (USD/CAD) is rising towards the pivot which has been identified as a pullback resistance and could reverse to the 1st support. 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
2
USDCAD H4 | Bullish RiseBased on the H4 chart analysis, the price is falling toward our buy entry level at 1.4210, a pullback support that aligns with the 50% Fibonacci retracement. Our take profit is set at 1.4260, a pullback resistance that aligns with the 50% Fibonacci retracement. The stop loss is placed at 1.4173, an overlap support. 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 (fxcm.com/uk): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63% 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 (fxcm.com/eu): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63% 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 (fxcm.com/au): 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 fxcm.com/au Stratos Global LLC (fxcm.com/markets): 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 - Sell Opportunity After Support BreakOANDA:USDCAD recently broke through a significant support level, creating an opportunity for further bearish movement. The market is now retesting this level. A rejection off this area could push the price lower toward the 1,4120 level, confirming the breakout's strength. A failure to hold resistance could indicate a continuation of the bullish trend. Traders should look for bearish confirmation signals, such as bearish engulfing candles or increasing sell volume, before entering short positions. Just my take on support and resistance zones—not financial advice. Always confirm your setups and trade with solid risk management.
Short
by TrendDiva
USDCAD Drills into SupportUSD/CAD is responding to confluent support this week a the 38.2% retracement of the 2023 December advance at 1.4176- Looking for possible price inflection off this mark. Resistance now back at the 38.2% retracement of the recent decline at 1.4396. Rallies should be capped by this level IF price is heading lower on this stretch. Ultimately, a close above the 75% parallel is needed to threaten uptrend resumption towards key resistance at 1.4538/47. A break / close below the median-line would suggest a more significant high was registered this month / a larger trend reversal is underway. Subsequent support at the 2016 high-week close (HWC) at 1.4115 and 1.3985. -MB
by FOREXcom
USDCAD FOR 100PIPS BULLISHconomic Data: If recent economic data (such as strong U.S. employment numbers, GDP growth, or inflation figures) are positive, it could support a stronger U.S. dollar. Oil Prices: Since Canada is a major oil exporter, a drop in oil prices may weaken the Canadian Dollar, making the U.S. dollar more attractive. Central Bank Policies: Any dovish stance from the Bank of Canada (such as rate cuts or reduced hawkishness) compared to a more hawkish Federal Reserve can also push the pair higher. Technical Analysis: If the chart shows a bullish trend, with key support levels holding, it could be a signal for further gains. Look for signs like bullish candlestick patterns, moving average crossovers, or support bounce off major levels.
Long
by LORDOFTHETRADERS