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U.S. Dollar / Canadian Dollar

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USDCAD trade ideas

Falling towards overlap support?USD/CAD is falling towards the support level that lines up with the 50% Fibonacci retracement and could bounce from this level to our take profit. Entry: 1.4369 Why we like it: There is an overlap support level that aligns with the 50% Fibonacci retracement. Stop loss: 1.4340 Why we like it: There is an overlap support level. Take profit: 1.4443 Why we like it: There is a pullback resistance level. Enjoying your TradingView experience? Review us! Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). 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 Everest Fortune Group.
Long
by VantageMarkets
USD/CAD Bulls Eye Resistance for Fifth WeekUSD/CAD has been trading just below resistance for over a month now at the 1.618% extension of the 2023 advance at 1.4483 . Note that the upper parallel of the ascending pitchfork continues to cap the December breakout. Initial support rests with the 75% parallel (currently ~ 1.43 ) with bullish invalidation now raised to 1.4099-14115. Ultimately a breach / close above the 2016 close high at 1.4538 is needed to fuel the next major leg of the advance towards 1.4660/90 - a region defined by the 78.6% retracement of the 2003 decline, the 1.618% extension of December advance and the 2016 high. Look for a larger reaction there IF reached. MB
by FOREXcom
USDCAD Will Go Up From Support! Long! Take a look at our analysis for USDCAD. Time Frame: 4h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is trading around a solid horizontal structure 1.438. The above observations make me that the market will inevitably achieve 1.444 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!
Long
by SignalProvider
1
Usdcad bearish entry level🌟 USDCAD Analysis 🌟 I shared this last before it got to the entry. We've seen a strong uptrend in #usdcad for a while now, but what's next? 📈 ✔️ Double high formation ✔️ A nice bearish engulfing pattern breaking out of the trend Now there is a retest on the trendline, and then it's time to buckle up for a bearish loooong ride! 🔥 Let's see how it plays out and if the bears can take control! 🐻 Note: This base on technical factors Two very high impact news this week, PPI and CPI
Short
by Goodnessawe
USDCAD Swing setup possibly forming....On the Weekly timeframe, USDCAD is slowly nearing a very interesting area. Watch this carefully, might take 1-3 weeks to reach there. This area has two times before been slightly touched. Jan 2016, REJECTED. March 2020, REJECTED. My dream scenario is a triple tap to this resistance line and immediately followed by a big SELL. This can be traded as a swing trade, or by using the sell off weeks for smaller day/intraday trades. My plan is to open one swing trade with 0.5% risk and keep it running for as long as it takes. Then I will use another 0.5% risk on this pair for day trading on the way down.
Short
by TommiZa
USDCAD Will Fall! Sell! Here is our detailed technical review for USDCAD. Time Frame: 1h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is approaching a key horizontal level 1.441. Considering the today's price action, probabilities will be high to see a movement to 1.439. P.S Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all. Like and subscribe and comment my ideas if you enjoy them!
Short
by SignalProvider
1
UDSCAD Sell SetupPrice had broken the sideway movement support at 1.4335, and risen back to the H4 FVG area between 1.4406 - 1.4440, presenting an entry opportunity. ------------- Disclaimer The analysis and content provided here are intended solely for personal journal and educational purposes. This information does not constitute financial advice, investment advice, or a recommendation to buy or sell any securities. Trading involves significant risk, and you should only trade with money you can afford to lose. Past performance is not indicative of future results. Always conduct your own research and consult with a qualified financial advisor before making any investment decisions.
Short
by Phoenix-Rise-Trade
USDCAD Consolidation: Eyeing a Breakout Above Key Resistance USDCAD is currently trading at 1.443, with a target price of 1.490, suggesting a potential gain of over 500 pips. The analysis is based on the support and resistance pattern, indicating that the pair is holding its main resistance level. A breakout above this resistance level is being anticipated. Currently, the pair is in a consolidation phase, where price movements are relatively limited. This phase often signifies market indecision and can precede significant price action. Traders are closely monitoring the breakout potential, as a breach of resistance could signal strong upward momentum. The technical setup suggests bullish sentiment, with the resistance level acting as a critical price point. If the breakout occurs, it may confirm the continuation of the uptrend. However, traders should remain cautious and consider potential reversals if the resistance holds.
Long
by AndrewsMarket-Mastery
Massive Reversal Incoming? USDCAD Showing Exhaustion Signals!(Apologies if the video is hard to understand—I bit my tongue during boxing sparring this morning!) USDCAD has been on an incredible 17-week rally, but the price now appears extremely overextended and is showing signs of exhaustion. Yesterday's NFP report brought a huge upside surprise, fueling a strong USD rally against all major currencies. While EURUSD, GBPUSD, NZDUSD, and AUDUSD all hit multi-year lows, USDCAD initially spiked higher but then sold off sharply, closing the day just above 1.44. This marks the first clear sign of buying exhaustion—despite USD strength across the board, USDCAD failed to make new highs. Additionally, this week’s candle formation caught my eye. It looks like a classic hanging man pattern, which typically appears at the top of a move, signaling an imminent reversal. Zooming into the daily charts, we can see a clear distribution range forming, with sideways price action after a strong rally. The MACD is showing divergence, and recent price increases have been accompanied by negative volume—another strong indicator of a potential reversal. As explained in the video, I see two likely scenarios for entering this trade: False Breakout: A spike above the distribution range, potentially towards or just above 1.45, followed by a sharp sell-off. This would be my preferred entry. Big Red Candle: A strong bearish candle early next week, signaling it’s time to enter short. For this position, my first target is the previous monthly resistance at 1.405, and my second target—more likely—is 1.385, which is now a support level. While I expect some bounce at these levels, I believe the longer-term move will see USDCAD fall back into its range, with a potential drop toward 1.32 very much on the cards. Let me know your thoughts below!
Short
by TheFxAce
8
USDCAD Forecast: Time to Buy!Based on the latest analysis using the EASY Trading AI strategy, my outlook for the USDCAD currency pair is decidedly bullish. The current entry price of 1.43916 presents a viable buying opportunity, aiming for a take profit level of 1.44094667, while setting a stop loss at 1.43690667. Several factors contribute to this optimistic stance. The overall trend has shown a consistent upward movement fueled by positive economic indicators from Canada, coupled with underlying U.S. dollar weakness due to concerns regarding monetary policy shifts. Additionally, momentum oscillators signal significant buying interest, suggesting that traders are eager to enter this market. The technical setup further supports this buy signal, as we see strong support around the current price level. The presence of multiple bullish candlestick patterns indicates potential for a rally. The EASY Trading AI model has consistently outperformed expectations with its precision, and based on its empirical data, this trade has a high probability of success. For those trading on their own, keep a close watch on news releases and global economic shifts, as these can impact currency valuations. Alternatively, consider utilizing our automated trading bots that follow the EASY Trading AI strategy to manage your positions effectively without the need for constant monitoring. Engage with this opportunity wisely! 🌟 Happy trading!
Long
by ForexRobotEasy