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U.S. Dollar / Canadian Dollar

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USDCAD trade ideas

USDCAD 4H slipping...By the price position since last month(August) the price seems to be in an uptrend correction after a strong fall from the beginning of August. It is not clear if this upward move it is just a correction or some trend change but sure to confirm a change the price needs to break the 1.36153 previous Support turned Resistance. The Daily support at 1.34392 still strong and the most relevant Resistance level is at 1.37868, probably the next target if price breaks the 1.36153. The RSI is just about to leave the overbought level what may indicates a possible pullback, even for a short drop to re-test the dynamic Support for the EMA(21). The drop of the Brent Oil has helped the USD in recovering some losses, as well as the risk appetite caused by the global economic turmoil pushing the investors for the “safe heaven” like USD or JPY.
Long
by cyberFX2019
USDCAD H4 | Bullish Bounce Based on the H4 chart analysis, we can see that the price is falling to our buy entry at 1.3564, which is a pullback support. Our take profit will be at 1.3661, a pulllback resistance. The stop loss will be placed at 1.3503, 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. 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, previously FXCM EU 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
1
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
Short
by BALE_FX
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. -------------------------- 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
Long
by shidiq
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. This content is not directed to residents of the EU or UK. Any opinions, news, research, analyses, prices or other information contained on this website is provided as general market commentary and does not constitute investment advice. ThinkMarkets will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.
Long
by ThinkMarkets
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.
Short
by Mansa_Musa_Capital
1
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. ✅ Please share your thoughts about USD/CAD in the comments section below and 👍 HIT LIKE if you appreciate my analysis. Don't forget to FOLLOW ME; you will help us a lot with this small contribution.
Long
by FOREXN1
1
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. 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, previously FXCM EU 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