Looking for a break upsidePrice is in range moving sideways, Although the speed of the price is not good enough, I belive it will break up the range and look for the highs in the red zone. It may take a few more days but we'll wait for it.Longby CienFX1
USDCAD Trade Setup: Continue The Bullish Runprice is yet to take out the liquidity above. we wait for price to tap into our FVG on Monday for us to take an entry. do take caution and enter with ur confirmation. cheers!Longby JrillzFX1
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.Longby AndrewsMarket-Mastery0
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! Short08:24by TheFxAce8833
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!Longby ForexRobotEasy0
USD-CAD Locally Overbought! Sell! Hello,Traders! USD-CAD is trading in a Strong uptrend but the Pair is locally overbought so After the retest of the Horizontal resistance level Of 1.4466 from where We will be expecting a Local bearish correction Sell! Comment and subscribe to help us grow! Check out other forecasts below too!Shortby TopTradingSignals335
Hidden Demand ZoneHidden Demand Zone. Look on lower and higher timeframes to understand. by nellyy_szn0
Intraday Short trade in USDCAD with bear Bat patternShort/Sell Trade opportunity with bearish bat pattern upon completion as market upon identifying is moving sideways in this specific timeframe since December 19. Trade with care.Shortby TheForexSamuraiUpdated 1
USDCAD LONGCurrently according to sentiment, 76% of traders are Short and 24% are Long. This gives us a Contrarian view to look for price to push further up to the next supply zone on the chart. This is also in line with the Fibonacci Extension of the most recent impulsive move. Longby ewhite41Updated 1
USDCAD What Next? SELL! My dear friends, My technical analysis for USDCAD is below: The market is trading on 1.4397 pivot level. Bias - Bearish Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bearish continuation. Target - 1.4364 Recommended Stop Loss - 1.4413 About Used Indicators: A pivot point is a technical analysis indicator, or calculations, used to determine the overall trend of the market over different time frames. ——————————— WISH YOU ALL LUCK Shortby AnabelSignals225
USD/CAD: Key Support and Resistance Levels Ahead of Labor Market Traders are closely watching the USD/CAD pair as labor market data from both the United States and Canada are set to be released today. Forecasts suggest a decline in Canadian employment change from 59k to 24.9k, accompanied by a rise in the unemployment rate from 6.8% to 6.9%. In contrast, U.S. non-farm payroll data is expected to show a decrease in job creation to 164k, while the unemployment rate is anticipated to remain steady at 4.2%. These data releases are likely to impact the USD/CAD pair's movements significantly. Analysts suggest that higher employment rates in either country would support their respective currency, while rising unemployment rates would have a negative impact on the currency involved. Technical outlook Beyond today's data, the USD/CAD pair is currently trading in a bearish trend on the 4-hour timeframe after recently hitting a new low at 1.43045. Analysts view the recent upward movement as a corrective rebound, with a return to the 1.44271 level potentially reinforcing the likelihood of a further decline toward 1.43195. On the other hand, if the pair continues its upward trajectory and breaches the 1.44670 level with a 4-hour candle closing above this level, experts predict the trend could shift to a bullish direction. by CFI6
USDCAD -bias long Bullish indications: Pair is in bullish trend making higher high higher lows, and respecting MA 20 in day time frame , made a inverted hammer in 4 hr time frame , Inverted head and shoulder and hammer Ma 21 respected, in 1 hr -Bullish pennant broke out and again MA 20 respected which indicates bullish momentum in the is pair . Hence going long Trade plan bias long @ 1.4385 SL:1.4370 TP1:1.44000 TP2:1.4414 SL: Bearish : Made double top in day time frame with bearish engulfer candle and also bearish divergence.Longby gouthamkulal1Updated 3
USDCADThe expected trajectory for the pair in the coming days suggests a likely continuation of the UP trend.Longby charaf_eltraderUpdated 4
USDCAD Possible LongW1 : Bullish D1 : Bullish 4H : Bullish Market Structure 1H : Currently Bearish Narrative : Price is currently Coming out of weekly IMB by sweeping Previously weekly low > We had a Daily IMB in the way that got violated by 4H PA and retracing back to the 4H OB after tapping into 4H Area of struggle > 1H is currently Bearish Entry Pattern : Currently Hourly Price action is bearish retracing back to 4H OB, after coming inside the OB we can look for some sort bullish sign to enter long position. First context target can be simply 1:2RR / Weak High. Eventually Price can attack Realtive Equal Highs on Top since there are no AOS upside. Longby nptrade24Updated 1
USD/CAD in holding pattern ahead of US, Cdn. jobs dataThe Canadian dollar started the week with strong gains but has shown little movement since then. In the European session, USD/CAD is trading at 1.4411, up 0.12% at the time of writing. We could see stronger movement from the Canadian dollar in the North American session, with the release of Canadian and US employment reports. Canada's economy may not be in great shape but the labor market remains strong. The economy added an impressive 50.5 thousand jobs in November and is expected to add another 24.9 thousand in December. Still, the unemployment rate has been steadily increasing and is expected to tick up to 6.9% in December from 6.8% a month earlier. A year ago, the unemployment rate stood at 5.8%. This disconnect between increased employment and a rising unemployment rate is due to a rapidly growing labor market which has been boosted by high immigration levels. Another sign that the labor market is in solid shape is strong wage growth. Average hourly wages have exceeded inflation and this complicates the picture for the Bank of Canada as it charts its rate path for early 2025. The BoC has been aggressive, delivering back-to-back half point interest rate cuts in October and December 2024. Inflation is largely under control as headline CPI dipped to 1.9% in November from 2% in October. However, core inflation is trending around 2.6%, well above the BoC's target of 2%. The central bank is likely to take a more gradual path in its easing, which likely means that upcoming rate cuts will be in increments of 25 basis points. The BoC meets next on Jan. 29. In the US, all eyes are on today's nonfarm payrolls report. The market estimate stands at 160 thousand for December, compared to 227 thousand in November. The US labor market has been cooling slowly and the Federal Reserve would like that trend to continue as it charts its rate cut path for the coming months. An unexpected reading could have a strong impact on the direction of the US dollar in today's North American session. USD/CAD is testing resistance at 1.4411. Above, there is resistance at 1.4427 1.4388 and 1.4372 are the next support levelsby OANDA1
Bullish momentum to extend?The Loonie (USD/CAD) has reacted off the pivot and could rise to the 1st resistance. Pivot: 1.4303 1st Support: 1.4303 1st Resistance: 1.4469 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. Longby ICmarkets5
USDCAD - Long Trade (10th Jan 2025)Straightforward long trade setup on USDCAD. Not aiming for anything high. Just want to illustrate the efficacy of this type of setup based on low-hanging fruit objectives, which in this case is the immediate swing high. Why not the other one since it is so close? Well, sometimes we get additional manipulation. Today is also NFP, so will take any moves against me before pushing up with a grain of salt. - R2F TradingLongby Road_2_Funded113
USDCAD Forecast: Ready for a Bullish Surge!I'm excited to share my latest analysis on the USDCAD currency pair. Based on the insights from the EASY Trading AI strategy, I'm inclined to recommend a Buy position for USDCAD at the entry price of 1.43916. Why the bullish outlook? Firstly, current market dynamics indicate strong support, and previous bullish momentum suggests that the pair is poised for upward movement. We're targeting a Take Profit at 1.44094667. This level aligns with previous resistance points, serving as a potential pivot for further gains. To protect our position, I advise setting a Stop Loss at 1.43690667. This provides a safety net while offering an acceptable risk-reward ratio, ensuring we can capitalize on favorable price movements without taking on excessive risk. It's important to remember that although our analysis is underpinned by the solid foundations of the EASY Trading AI strategy, trading always entails risk. Staying informed about market fluctuations and adhering to sound risk management practices are crucial for success. For those looking to automate their trades, consider exploring the options available through our trading bots that utilize the same strategy. Happy trading!Longby ForexRobotEasy0
USDCAD Wave Analysis 9 January 2025 - USDCAD reversed from support zone - Likely to rise to resistance level 1.4450 USDCAD currency pair recently reversed up from the support zone located between the support level 1.43000, 20-day moving average and the support trendline of the sharp daily up channel from September. This support zone was further strengthened by the 38.2% Fibonacci correction of the upward impulse from last month. Given the clear daily uptrend, USDCAD currency pair can be expected to rise to the next resistance level 1.4450 (which stopped the previous waves (3) and B). Longby FxProGlobal0
PRICE APPROACHES SUPPLY ZONE AHEAD OF NON-FARM PAYROLL usdcad approaches supply zone. We have had the first tap, waiting for a sweep of liquidity or break of structure before selling.. (it market will respect my POI).by Daniel_herik2