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U.S. Dollar / Canadian Dollar

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USDCAD trade ideas

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
Short
by FOREXcom
USDCAD Under Pressure! SELL! My dear subscribers, This is my opinion on the USDCAD next move: The instrument tests an important psychological level 1.3567 Bias - Bearish Technical Indicators: Supper Trend gives a precise Bearish signal, while Pivot Point HL predicts price changes and potential reversals in the market. Target - 1.3501 My Stop Loss - 1.3607 About Used Indicators: On the subsequent day, trading above the pivot point is thought to indicate ongoing bullish sentiment, while trading below the pivot point indicates bearish sentiment. ——————————— WISH YOU ALL LUCK
Short
by AnabelSignals
1
USDCAD Will Move Lower! Sell! Here is our detailed technical review for USDCAD. Time Frame: 5h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is approaching a key horizontal level 1.356. Considering the today's price action, probabilities will be high to see a movement to 1.352. P.S We determine oversold/overbought condition with RSI indicator. When it drops below 30 - the market is considered to be oversold. When it bounces above 70 - the market is considered to be overbought. Like and subscribe and comment my ideas if you enjoy them!
Short
by SignalProvider
1
USD/CAD STRONG BUYAs you can see the price make a very strong move on the New York sesion friday with the fundametals we reciaved and that make the usa Dollar be more valorated and the inflation make the strong move too, so what iam looking right here its for a buy limit in the Order Blocks that are formed from H4 to 15MIN , confirming the price movment with the RSI gettiing to a overbuyed zone to the go back and activad the orderblock and then make profits to lotas of buyers in the market
Long
by hcarbajal12
USDCAD Will Fall! Sell! Take a look at our analysis for USDCAD. Time Frame: 2h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is trading around a solid horizontal structure 1.357. The above observations make me that the market will inevitably achieve 1.355 level. P.S We determine oversold/overbought condition with RSI indicator. When it drops below 30 - the market is considered to be oversold. When it bounces above 70 - the market is considered to be overbought. Like and subscribe and comment my ideas if you enjoy them!
Short
by SignalProvider
1