USDCADWe can attempt to short USDCAD from specified level as it break HL , also bearish divergence occur indicate that it moves downward. SL , TP mention in chart.Shortby SignalEdgeUpdated 111
USD/CAD analysis by the Mallicast team.The USD/CAD pair has been experiencing a range-bound movement on the monthly timeframe for quite some time. However, our forecast for the end of August is that the price will first drop to the 1.34003 level, followed by an upward move towards 1.40698. After that, we expect the price to decline again to the 1.30874 level. Longby mallicast2
Buy opportunityThe USDCAD pair presents an enticing buy opportunity at the current price of 1.35888, with favorable potential for profit. Targets: Primary Target: 1.36473 Secondary Target: 1.36460 Breakout Scenario: 1.37372 In the event of a breach above the Support level of 1.35655, indicative of a bearish breakout, the target price is anticipated to ascend towards 1.34000. 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.Longby GODOCM112
Market Analysis: USD/CAD Drops To SupportMarket Analysis: USD/CAD Drops To Support USD/CAD declined and now consolidates below the 1.3640 level. Important Takeaways for USD/CAD Analysis Today - USD/CAD started a fresh decline after it failed to clear the 1.3720 resistance. - Recently, there was a break above a short-term bearish trend line with resistance at 1.3585 on the hourly chart at FXOpen. USD/CAD Technical Analysis On the hourly chart of USD/CAD at FXOpen, the pair climbed toward the 1.3700 resistance zone before the bears appeared. The US Dollar formed a swing high near 1.3685 and recently declined below the 1.3640 support against the Canadian Dollar. There was also a close below the 50-hour simple moving average and 1.3620. The bulls are now active near the 1.3570 level. Recently, the pair corrected some losses and climbed above the 1.3600 zone. There was a break above a short-term bearish trend line with resistance at 1.3585. The pair even surpassed the 23.6% Fib retracement level of the downward move from the 1.3685 swing high to the 1.3571 low. If there is a fresh increase, the pair could face resistance near the 1.3620 level. The next key resistance on the USD/CAD chart is near the 61.8% Fib retracement level of the downward move from the 1.3685 swing high to the 1.3571 low is 1.3640. If there is an upside break above 1.3640, the pair could rise toward the 1.3685 resistance. The next major resistance is near the 1.3710 level, above which it could rise steadily toward the 1.3800 resistance zone. Immediate support is near the 1.3570 level. The first major support is near 1.3550. A close below the 1.3550 level might trigger a strong decline. In the stated case, USD/CAD might test 1.3500. Any more losses may possibly open the doors for a drop toward the 1.3450 support. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.by FXOpen227
Buying usdcadStrong buying level on daily chart Wait for powell speech then enter in buyLongby forexagent223
USDCAD: Time For Pullback?! 🇺🇸🇨🇦 USDCAD may pull back from a key daily structure support. I spotted 2 intraday bullish confirmations on a 4H time frame: a bullish breakout of a resistance line of a falling wedge pattern, a bullish breakout of a neckline of a double bottom pattern. We can expect a bullish movement to 1.363 ❤️Please, support my work with like, thank you!❤️Longby VasilyTrader226
USD/CAD BULLISH BIAS RIGHT NOW| LONG Hello, Friends! We are now examining the USD/CAD pair and we can see that the pair is going down locally while also being in a downtrend on the 1W TF. But there is also a powerful signal from the BB lower band being nearby indicating that the pair is oversold so we can go long from the support line below and a target at 1.372 level. ✅LIKE AND COMMENT MY IDEAS✅Longby EliteTradingSignals114
Possibility of uptrend It is expected that after the completion of the current correction, a change of trend will be formed and we will see the beginning of the upward trend. If the price crosses the green support zone, the downward trend is likely to continue Longby STPFOREX0
USDCAD possible long for 1.37241.3570-50 strong trendline support area. 22nd August daily key reversal bar, made a new low closed off the high dictation for strength coming in usdcad for next coming days. Buying demand levels are 1.3595 and next one buying level 1.3550. stop loss is 1.3535, target: 1.3724. 1.3668 initial resistance level before target 1.3724. need to break and close above 1.3668 to reach the target 1.3724. Longby PyramidFx223
Market Research Analysis on USD/CAD Exchange RateThe USD/CAD currency pair is a key indicator of economic health between the United States and Canada, reflecting the relationship between the U.S. dollar and the Canadian dollar. Over the past few months, the USD/CAD exchange rate has shown notable volatility influenced by several factors, including divergent monetary policies, economic data releases, and commodity prices, particularly crude oil. The U.S. Federal Reserve's stance on interest rates and the Bank of Canada's monetary policy adjustments have been primary drivers of this exchange rate. Additionally, Canada's economy, being heavily reliant on its natural resources, particularly oil, has seen its currency fluctuate in tandem with global oil prices. As the U.S. dollar is considered a safe haven, geopolitical tensions and market uncertainties also contribute to its strength against the Canadian dollar. Moving forward, close attention should be paid to the economic indicators from both countries, central bank announcements, and global market conditions, as they will likely continue to impact the USD/CAD exchange rate.Shortby BELLATRIXFX2
USDCAD On Support At the level where USDCAD is currently at, It has taken support oftenly as the chart shows in previouse times. We may expect that again if takes support at this level so we may see a strong buy which is being supported by other technical factors as RSI is also showing a bullish divergence and a break on Falling wedge already been done too. So if it makes a higher high in respect of buy volume so we can take a good ride keeping safe SL at the bottom of the low made below the support line.Longby MuneebUddin0
SHORT WITH TMT ISTANBULI caught a SHORT position with TMT Istanbul. I quickly opened my trade. Shortby TMTFinansAkademisi1
18 Month Trading - USDCAD - PT = 1.60 (2000+ pip move)Aug 2024 - DXY has had a big pullback after the US and other major economies have and plan to cut interest rates. Idea: The US economy will remain strong, forcing interest rates to be much higher than in recent history (08-21). Relative to other economies, the US will continue to remain strong. With a focus on re-shoring and a return to manufacturing, there are prospects for continued GDP growth. Canada also has an impending rail strike, but i expect the impact to be minimal Risks: In the near-term, with elections coming in a few months. There is some risk from potential civil backlash and in some cases, potential policy risk. Central bank maneuvering and economic numbers will continue to present risks. Risks not considered - pandemics, weather disasters, or other "Acts of God". Overall, this will require strong risk management, a fluid assessment of the market, and being able to respond dynamically to changing markets. Longby dsmall3
USDCAD Short Entry to Finish the WeekStarting a small UCAD short position from these levelsShortby trader9224Updated 3
USD/CAD Very risky BUYHi Traders. We see USD/CAD was in a LTF descending channel. Now it broke out of the descending channel at a previous low. what looks like it could become a double buttom.We could see more bullish movement from this point but tomorrow Jerome Powell speaks, so this pair could get very volatile.Longby ltdcrack882
Short for 300 pips +This pair is respecting previous highs and if history repeats itself we should be going short for around 300 pips Shortby cdfalletta669