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U.S. Dollar / Canadian Dollar

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USDCAD trade ideas

Buy OpportunityThe USDCAD pair presents an enticing buy opportunity at the current price of 1.34972, with favorable potential for profit. Targets: Primary Target: 1.36060 Secondary Target: 1.376500 Breakout Scenario: 1.34400 In the event of a breach above the Support level of 1.34400, indicative of a bearish breakout, the target price is anticipated to ascend towards 1.33000. Technical analysis indicates a notable Buying sentiment prevailing in the market at the present price level. Fundamental factors align with the proposed buy strategy, suggesting upward pressure on the USDCAD pair. Prudent risk management measures should be employed to mitigate exposure to potential adverse market movements. Disclaimer: This analysis is provided based on current market conditions and historical price data. Traders are advised to conduct independent research and exercise caution, employing appropriate risk management techniques, before executing any trading decisions.
Long
by GODOCM
USD/CAD May Rise#trading_idea #USDCAD 🇨🇦 USD/CAD - Outlook On the hourly chart, an Ascending Triangle pattern is forming. The price is testing the resistance at 1.3499. The Bulls & Bears and MACD indicators suggest a possible continuation of the pair's upward movement. 🔼 If the price break through the resistance 1.3499 the further rise to the resistance 1.3515 is possible. 🔽Alternatively, the price may decline de to the support zone 1.3489 - 1.3480. 😎 Hit "👍" if you believe the price will rise and "👎" if you think it's slide. ➡️GET $20,000 JUST FOR $99
Long
by sabiotrade
USD/CAD analysis by the Mallicast teamThe Mallicast team's analysis for the USD/CAD currency pair is as follows: Currently, this pair is in a downtrend with low momentum. This decline in price might indicate a relative weakness of the US dollar against the Canadian dollar, which could be due to various economic factors such as a decrease in interest rates, weak economic data, or an increase in demand for commodities and energy (which supports the Canadian dollar). It is anticipated that within this downtrend, the price will reach the level of 1.34221, experiencing a short correction. This correction might occur due to short-term profit-taking by traders or as a reaction to different economic data. However, following this correction, the uptrend is expected to resume, pushing the price to the level of 1.35872. This upward movement could result from improving economic conditions in the United States or a temporary weakening of the Canadian dollar. Finally, the analysis suggests that the price could rise to the level of 1.37149, which is considered the final target price. This price level might be influenced by changes in monetary policies, fluctuations in global markets, or changes in oil prices, which significantly impact the Canadian economy.
Short
by mallicast
USDCAD Trading IdeaBased on Simple Technical Analysis ( Trendline + Support & Resistance ) Risk Disclaimer: Please be advised that I am not telling anyone how to spend or invest their money. Take all of my analysis as my own opinion, as entertainment, and at your own risk. I assume no responsibility or liability for any errors or omissions in the content of this page, and they are for educational purposes only. Any action you take on the information in these analysis is strictly at your own risk. There is a very high degree of risk involved in trading. Past results are not indicative of future returns. Good luck :-)
Short
by ShahedZare
USDCAD: Past, Present and FutureHi, traders Here is my idea sharing with you. Currency Pair: USDCAD TimeFrame:1D Scale: Large Past: From the past data on 1 Month time frame market is moving within a range and on 1Day time frame market is moving between Resistance 1 and Resistance 2 (previously Support) And form a poles (pattern) or Impulse (wave) Present: This days market is moving upward channel towards resistance 2 forming flag(pattern) or correction (wave) Future: After market reach to Resistance 2 Bearish Flag (pattern) then another Impulse (wave) which it will reach to monthly support zone. Stay Safe, Happy Trading Thank you
Short
by monmohon
3
USD/CAD Short Trade Idea (1H Timeframe)Overview : We're currently observing a potential short opportunity on the USD/CAD 1-hour chart. The pair has been trading within a rising wedge pattern, which is often considered a bearish reversal signal. The price action is now showing signs of weakness near the upper boundary of this wedge, suggesting that a downside move could be imminent. Trade Setup: Entry: Current market price, anticipating a breakdown of the rising wedge pattern. Stop-Loss: 0.00368 (0.27%) above the entry point, placed just above the recent resistance level. This level serves as a safe buffer in case of a false breakout. Take-Profit: 0.01105 (0.82%) below the entry point, targeting the previous major support zone. This gives us a solid Risk/Reward ratio of 3:1, ensuring the potential reward significantly outweighs the risk. Risk Management: The position size is calculated to limit the risk to a manageable level, with a total of 36.8 pips at risk (Amount: 750). The potential reward for this trade is approximately 110.5 pips (Amount: 1750.68). Rationale: The rising wedge formation indicates a possible trend reversal. Combined with bearish divergence on momentum indicators (if applicable), this setup provides a compelling case for a short entry. The stop-loss is strategically placed above a significant resistance level to protect against a sudden upward move, while the take-profit target aligns with a key support zone, offering a favorable risk/reward ratio. Note: As always, ensure proper risk management and consider market conditions before entering the trade. Happy trading!
Short
by SwingMarkets
1