USDCAD Wave Analysis – 12 June 2025- USDCAD broke key support level 1.3630
- Likely to fall to support level 1.3500
USDCAD currency pair recently broke the key support level 1.3630, which previously formed the daily Hammer reversal pattern at the start of June.
The breakout of the support level 1.3630 should accelerate the active impulse wave C of the ABC correction (2) from January.
USDCAD currency pair can be expected to fall to the next support level 1.3500 (target price for the completion of the active impulse wave C).
USDCAD trade ideas
USD/CAD Breaks Through Multi-year Trend Support USD/CAD broke through a key pivot zone last week at 1.3721/94- a region defined by the 38.2% retracement of the 2021 advance and the 61.8% retracement of the late-2023 advance. The subsequent decline is now extending more than 2.9% off the May highs with initial support within striking distance.
Weekly momentum has now dropped to the lowest levels since 2021 and a break of the 2021 uptrend (2022 trendline) threatens further losses ahead. Initial weekly support rests at the 1.618% extension of the February decline / 78.6% retracement of the late-2023 advance near 1.3504/23. Note that basic channel support converges on this threshold over the next few weeks and further highlights the technical significance of this zone (area of interest for possible downside exhaustion / price inflection IF reached). Subsequent support rests with the 2024 low-week clow (LWC) at 1.3360 and the 2023 LWC at 1.3218.
Weekly resistance is now eyed back at 1.3721 & 1.3795. Broader bearish invalidation is now lowered to the 52-week moving average / 2022 swing high near ~1.3961/78- a breach / close above the yearly channel would ultimately be needed to suggest a more significant low is in place.
Bottom line : USD/CAD has broken below multi-year uptrend support and threatens further losses in the weeks ahead. From a trading standpoint, look to reduce portions of short-exposure / lower protective stops on stretch towards 1.3523 IF reached- rallies should be limited to 1.3795 IF price is heading lower on this break with a close sub-1.35 needed to fuel the next major leg of the decline.
-MB
Will CAD bulls eventually fade away?During the North American session, the USD/CAD exchange rate continued its downward trend and is currently trading above 1.3600, approaching the support zone at 1.3600. If the exchange rate effectively holds the 1.3600 support zone, accompanied by RSI bottom divergence and MACD death cross repair signals, there may be a short-term technical rebound. The initial resistance above is still at 1.3700. If it can break through, it may open up space to 1.3800.
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USDCAD Hits Support as Fed-Hawkish & BoC Cuts! Big Bounce ComingUSDCAD ( OANDA:USDCAD ) is trading at the Potential Reversal Zone(PRZ) and near the important Support line and Support lines .
In terms of Elliott Wave theory , it seems that USDCAD has managed to complete 5 main down waves and we can expect more up waves .
Also, we can see the Regular Divergence(RD+) between Consecutive Valleys .
I expect USDCAD to rise to at least 1.37860 CAD.
Fundamental View:
The Bank of Canada initiated its rate-cutting cycle , while the Federal Reserve remains firm with no immediate plans to ease.
Strong NFP data on Friday reinforced USD ( TVC:DXY ) strength .
Oil prices( BLACKBULL:BRENT ) may offer temporary support to CAD , but macro divergences clearly favor the dollar .
Note: Stop Loss(SL)= 1.36110 CAD
U.S Dollar/Canadian Dollar Analyze (USDCAD), 4-hour time frame.
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USD/CAD) Down Trand analysis Read The captionSMC trading point update
Technical analysis of USD/CAD (U.S. Dollar / Canadian Dollar) currency pair on the 2-hour timeframe, and it suggests a potential sell setup based on price action, key levels, and momentum indicators.
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Chart Summary
Pair: USD/CAD
Timeframe: 2H
Current Price: 1.36432
EMA 200: 1.37436
Direction Bias: Bearish
Volume: 6.92K
Key Tool: EMA 200, RSI, Support/Resistance Zones
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Technical Breakdown
1. Resistance Zone / Supply Area (~1.3680 - 1.3700)
The yellow box highlights a strong resistance zone.
Marked by three red arrows, where price has repeatedly rejected.
Indicates clear seller dominance in this area.
2. Break of Support Level
Price broke below the yellow support area and is now trading below it.
This signals a bearish breakout from a consolidation zone.
3. EMA 200 Trend Confirmation
EMA 200 (blue line) is sloping down.
Price is below the EMA, confirming bearish trend bias.
Acts as dynamic resistance.
4. Bearish Flag/Channel Break
A bearish flag or wedge pattern seems to have been broken downward.
The measured move (blue vertical line) suggests the projected drop.
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Target Point
Target Price: 1.34951
This is based on the measured move from the resistance zone.
It aligns with the previous demand/support zone.
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RSI (Relative Strength Index)
RSI (14) is 36.37, approaching the oversold zone.
This shows strong bearish momentum, but it also means price may stall or bounce slightly before continuing downward.
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Trade Setup Idea
Entry: After confirmation of breakout below 1.3640
Stop Loss: Above 1.3700 (resistance zone)
Take Profit: 1.34951
Risk-to-Reward: ~1:2+
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Risk Management & Caution
If price moves back into the yellow zone or breaks above 1.3700, the setup is invalidated.
Watch for high-impact news events (marked on the chart with U.S. flags) that may trigger volatility.
Mr SMC Trading point
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Conclusion
This is a well-structured bearish idea based on:
Resistance rejections
Break of support
Downward EMA slope
Bearish RSI reading
It reflects strong downside potential toward 1.3495, offering a clean shorting opportunity for swing traders
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USD/CAD BULLS WILL DOMINATE THE MARKET|LONG
Hello, Friends!
Bullish trend on USD/CAD, defined by the green colour of the last week candle combined with the fact the pair is oversold based on the BB lower band proximity, makes me expect a bullish rebound from the support line below and a retest of the local target above at 1.367.
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
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USDCAD – Sell Into Resistance Amid Bearish ContinuationSell Limit
Entry: 1.3700
Target: 1.3600
Stop Loss: 1.3750
Duration: Intraday
Expires: 13/06/2025 06:00
Technical Overview
The broader trend remains bearish, and current price action does not indicate a reversal of the recent downtrend.
A correction toward resistance at 1.3700 offers a low-risk short entry.
A move below 1.3625 would confirm renewed bearish momentum, aligning with the measured move target of 1.3575.
The short-term RSI has turned negative, reinforcing downside pressure.
Traders should remain aware of upcoming U.S. data, with the PPI release at 13:30 UTC potentially triggering short-term volatility.
Key Technical Levels
Resistance: 1.3675 / 1.3700 / 1.3725
Support: 1.3625 / 1.3600 / 1.3575
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
USDCAD SHORT FORECAST Q2 W24 D12 Y25USDCAD SHORT FORECAST Q2 W24 D12 Y25
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Welcome back to another FRGNT chart update📈
Diving into some Forex setups using predominantly higher time frame order blocks alongside confirmation breaks of structure.
💡Here are some trade confluences📝
✅4H order block rejection
✅HTF 50 EMA
✅Intraday bearish breaks of structure to be identified
✅15’ order block identified
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📈The rest, we leave to the balance of probabilities.
💡Fail to plan. Plan to fail.
🏆It has always been that simple.
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🎯Trade consistent, FRGNT X
Bearish drop?USD/CAD has bounced off the support level which is a pullback support that lines up with the 138.2% Fibonacci extension and could potentially rise from this level to our take profit.
Entry: 1.645
Why we like it:
There is a pullback support level that lines up with the 138.2% Fibonacci extension.
Stop loss: 1.3624
Why we like it:
There is a support level at the 100% Fibonacci projection.
Take profit: 1.3689
Why we like it:
There is a pullback resistance level that aligns with the 50% Fibonacci retracement.
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USDCAD Analysis Today: Technical and Order Flow Analysis !In this video I will be sharing my USDCAD analysis today, by providing my complete technical and order flow analysis, so you can watch it to possibly improve your forex trading skillset. The video is structured in 3 parts, first I will be performing my complete technical analysis, then I will be moving to the COT data analysis, so how the big payers in market are moving their orders, and to do this I will be using my customized proprietary software and then I will be putting together these two different types of analysis.
USDCAD Potential DownsidesHey Traders, in today's trading session we are monitoring USDCAD for a selling opportunity around 1.37100 zone, USDCAD is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 1.37100 support and resistance area.
Trade safe, Joe.
USDCAD Preparing for Major Breakout? | Key Levels + SetupUSDCAD is currently trading just below a key breakout zone at 1.36991, with strong demand holding the 1.36000 - 1.36800 range.
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🔶 Technical Analysis:
✅ Support Zone (Demand):
The 1.3600 - 1.3680 region has acted as a strong base for several weeks now, with repeated tests and rejections confirming institutional interest.
✅ Resistance to Watch:
1.36991 – immediate breakout level
1.39744 – mid-range target
1.42591 – major supply/TP2 area
🟣 Volume Profile & LuxAlgo S&D:
Visible range & LuxAlgo show accumulation in the current zone, signaling a possible bullish reversal. Volume is increasing at key levels.
📉 Recent downtrend may be exhausted, as price forms a base and shows signs of strength from buyers.
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🧠 Trade Idea:
🎯 Breakout Buy Setup:
Entry: Above 1.3700 (confirmation of breakout)
TP1: 1.3974
TP2: 1.4259
SL: Below 1.3640 (below demand zone)
📊 RR Ratio: ~1:2.5
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⚠️ Watch This:
📅 Upcoming USD news (marked below chart) could act as a catalyst
💥 Breakout above 1.3700 with volume = potential strong bullish rally
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📌 Summary:
USDCAD is consolidating in a high-demand area. A break above 1.3700 may trigger a bullish continuation targeting 1.3974 and possibly 1.4259. Patience and confirmation are key.
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