US30 Reaching for support level 42200US30 continued to fall as expected and will likely continue to consolidate between this area for the week before deciding to go bullish or bearish.
USDCAD trade ideas
USDCAD: Weak Market & Bearish Forecast
The charts are full of distraction, disturbance and are a graveyard of fear and greed which shall not cloud our judgement on the current state of affairs in the USDCAD pair price action which suggests a high likelihood of a coming move down.
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Monthly USDCADBreakout of Symmetrical triangle leading to development of a bullish triangle and ultimately to hit August 1998 highs around the end of 2015 or into 2016.
USDCAD TRADE SETUP UPDATEWe caught the bulls on the one, right again!
...and quite close before ADP NFP news today
USDCAD SELLPrice consolidated for a while, and sellers pushed down breaking the previous low. Price has gone up to retest the previous support, which is now acting as resistance. Price is expected to continue downwards to the zone around 1.4120 as sellers prepare to push price further south.
USDCAD to hit 1.50 mark?Canada's dollar is near its weakest in over four years, having fallen sharply after Trump in November threatened a 25% tariff on Canada and Mexico until they clamped down on drugs and migrants. A full-fledged trade war necessitating additional Canadian rate cuts could push the loonie to the 1.50 mark against the U.S. dollar, said ING's Pesole.
Trump and Trudeau Cause USD/CAD ReversalUSD/CAD broke lower on Monday, surprising traders who had been expecting a continuation of the uptrend. Political developments in both the US and Canada were the catalysts behind this sharp move, with the pair closing below a key consolidation range.
US Dollar Weakens on Trump Tariff News
The US dollar weakened after reports suggested that Donald Trump might scale back plans for sweeping tariffs on imports. Markets had initially priced in broad-based duties of 10% or more, but news of a narrower scope shifted sentiment. This sparked a relief rally in competing currencies, pulling the dollar index down by 0.7%.
Although Trump quickly dismissed the report as “fake news,” the damage to the greenback was already done, as traders reassessed the inflationary and economic implications of the potential policy shift.
Trudeau’s Resignation Lifts the Loonie
In Canada, Prime Minister Justin Trudeau’s announcement of his resignation marked the end of nearly a decade in office. His departure, driven by internal party pressures and declining public support, injected optimism into Canadian markets.
The Canadian dollar gained as traders welcomed the potential for political renewal ahead of elections later this year, with hopes for more stable governance and economic policies boosting confidence in the currency.
Technical Breakdown for USD/CAD
USD/CAD had been in a strong uptrend since mid-September, with the 50-day moving average diverging above the 200-day moving average. Over the holiday period, the pair entered a tight sideways consolidation range, a pattern often seen as a continuation signal during a bullish trend.
However, Monday's political developments caused a break below the consolidation range, with the pair closing below key support levels. This move sets up the potential for a deeper retracement, with the 50-day moving average as the next critical level to watch.
USD/CAD Daily Candle Chart
Past performance is not a reliable indicator of future results
Zooming in on the hourly chart reveals that USD/CAD has begun forming a series of lower swing highs, creating a descending trendline. This trendline serves as a key indicator for traders navigating the potential reversal.
While the long-term uptrend remains intact, traders should be cautious of a possible fakeout. A decisive break back above the descending trendline and into the previous range could signal short sellers to cover their positions, negating the bearish setup.
USD/CAD Hourly Candle Chart
Past performance is not a reliable indicator of future results
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correctionIt is expected that after some fluctuation and correction in the current support level, a trend change will occur and we will witness the beginning of an upward trend.
If the price crosses the red support level, the continuation of the downward trend will be likely
USD/CAD Daily AnalysisPrice has been moving within a daily range since December last year.
Mondays price action saw what could have been a break out of support at around the 1.4340 zone.
With Tuesdays close back above and within the range, Mondays candle was probably a break out.
Look for opportunities to buy, targeting back at the top of the range.
longAll the usd pairs are correlated towards highside,usdcad has high volume and momentum to go long
A brief analysis of selling usdcadI think cos of the weekly time frame it is going to get a bearish trend but we need a good edge for opening a high R/r and low risk but for swing with R/r=1 its not bad
USDCAD - SELL SETUP IN 4HR CHARTSELL @ 1.4350 OR BELOW
TARGET : 1.4250, 1.4140
STOPLOSS : 1.4400
USDCAD is overbought at this level Breakout and pullback done in 4hr chart. Sell now
Bearish reversal off 61.8% Fibonacci resistance?USD/CAD is rising towards the resistance level which is a pullback resistance that lines up with the 61.8% Fibonacci retracement and could drop from this level to our take profit.
Entry: 1.4390
Why we like it:
There is a pullback resistance level that lines up with the 61.8% Fibonacci retracement.
Stop loss: 1.4467
Why we like it:
There is a pullback resistance level.
Take profit: 1.4467
Why we like it:
There is a pullback support level.
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USDCADAnother Possible trade that could be taken , but im not comfortable in the USD being weak given all the politics happening in the USA , but either than that if the structure is respected we can look into trading USDCAD and taking a shot on it
ARE WE SELLING USDCAD?What’s up traders? Hope you all well.
The 25% tariff on Canadian exports has significantly weakened the loonie. Political fallout followed, with Prime Minister Justin Trudeau resigning on the back of the tariffs, reflecting the economic and political strain on Canada.
These are my thoughts on USD/CAD: Price recently broke out of a downtrend. However it has respected my KEY RESISTANCE AREA/PREVIOUS SESSION HIGH. Expecting a 80 pip drop on USDCAD
Bearish on USDCADIt's a down trend according to trend analysis.
The market has retouched the resistance level point.
USDCAD MOVE TO UP TREND MUST READ THE CAPTIONThe chart displays a technical analysis of the USDCAD currency pair using the Heikin Ashi candlestick type on the 1-hour timeframe. Here's the breakdown:
1. Bullish Cup-and-Handle Pattern:
The yellow highlighted area suggests the formation of a bullish "cup-and-handle" pattern, which is a continuation signal for a potential upward movement.
2. Key Levels:
Target Level (1.44753): The final target price for this setup.
Take-Profit (TP) Levels:
TP1: Near 1.43600
TP2: Around 1.44200
TP3: Close to 1.44700
Stop-Loss Level: Clearly marked below 1.42600 to manage risk in case of an invalidated pattern.
3. Projection and Trend:
The blue arrows indicate the expected price movement. A break above the resistance levels will confirm the bullish trend. The price may face pullbacks before hitting the targets.
If the price breaks below the stop-loss level, the bullish outlook becomes invalid.
Conclusion:
This analysis predicts a bullish continuation for USDCAD. Traders should monitor price action around the outlined levels, especially the TP and resistance zones. Confirmations, such as strong bullish candles or volume spikes, can improve trade confidence.
ARE WE SELLING USDCAD?What’s up traders? Here are my thoughts on USDCAD.
The Bank of America does not anticipate the Bank of Canada to react to the potential political uncertainty, as they believe the BoC is comfortable maintaining its rate in the neutral range. The Canadian Dollar is expected to continue acting as a buffer amidst potential changes in US policies towards Canada.
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USDCAD Set To Grow! BUY!
My dear friends,
USDCAD looks like it will make a good move, and here are the details:
The market is trading on 1.4314 pivot level.
Bias - Bullish
Technical Indicators: Supper Trend generates a clear long signal while Pivot Point HL is currently determining the overall Bullish trend of the market.
Goal - 1.4357
About Used Indicators:
Pivot points are a great way to identify areas of support and resistance, but they work best when combined with other kinds of technical analysis
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WISH YOU ALL LUCK
USDCAD BUYI believe that USDACD broke market structure for the sell and is going to rally up
You can buy now at 1.43 with a TP of 1.438 and SL of 1.427
USD-CAD Bullish Bias! Buy!
Hello,Traders!
USD-CAD is trading along
The rising support line
And the pair is about to
Retest it so we are bullish
Biased and we will be
Expecting a local bullish rebound
Buy!
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