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U.S. Dollar / Canadian Dollar

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USDCAD trade ideas

USD/CAD Buyers Push for Extended Control Amid Oil WeaknessTechnical Analysis The USD/CAD pair remains in bullish territory, with buyers pushing the price higher amid a supportive backdrop of falling oil prices and expectations of a dovish BoC. A decisive move above 1.38190 could pave the way for further gains, while a break below 1.37970 would signal a shift in momentum. Market participants should stay alert to upcoming BoC policy announcements and U.S. economic data for cues on the next potential move. Market Overview On Monday, the USD/CAD pair continued to gain traction, driven primarily by two influential factors: a decline in oil prices and increased speculation that the Bank of Canada (BoC) may increase its pace of interest rate reductions.
Short
by Errante
USD/CAD "The Loonie" Bank Money Heist Plan on Bullish SideHola! My Dear Robbers / Money Makers & Losers, 🤑 💰 This is our master plan to Heist USD/CAD "The Loonie" Bank based on Thief Trading style Technical Analysis.. kindly please follow the plan I have mentioned in the chart focus on Long entry. Our target is Red Zone that is High risk Dangerous level, market is overbought / Consolidation / Trend Reversal / Trap at the level Bearish Robbers / Traders gain the strength. Be safe and be careful and Be rich. Entry : Can be taken Anywhere, What I suggest you to Place Buy Limit Orders in 15mins Timeframe Recent / Nearest Swing Low Stop Loss 🛑 : Recent Swing Low using 2H timeframe Attention for Scalpers : If you've got a lot of money you can get out right away otherwise you can join with a swing trade robbers and continue the heist plan, Use Trailing SL to protect our money 💰. Warning : Fundamental Analysis news 📰 🗞️ comes against our robbery plan. our plan will be ruined smash the Stop Loss. Don't Enter the market at the news update. Loot and escape on the target 🎯 Swing Traders Plz Book the partial sum of money and wait for next breakout of dynamic level / Order block, Once it is cleared we can continue our heist plan to next new target. Support our Robbery plan we can easily make money & take money 💰💵 Follow, Like & Share with your friends and Lovers. Make our Robbery Team Very Strong Join Ur hands with US. Loot Everything in this market everyday make money easily with Thief Trading Style. Stay tuned with me and see you again with another Heist Plan..... 🫂
Long
by Thief_Trader
USDCAD : Two probabilities for 10/21/2024USDCAD with a high probability to make the decision for 10/21/2024 ✅️ : 🔸️If the price exceeds the green bar 🟩, with the bar closing in the hour above: there will be a high chance of entering a purchase as indicated in the chart, respecting the day, news and the stop loss. 🔸️If the price exceeds the red bar 🟥, with the bar closing in the hour below: there will be a high chance of entering a sale as indicated in the chart, respecting the day, news, and the stop loss.
Short
by Abderrahmane_24
1
Idea for next week.What a great chart on point let's wait for the charts to open.The Canadian Dollar (CAD) is little changed against the USD, with spot holding close to 1.38 on the day. The CAD’s slide against the USD steadied through mid-week which was not unexpected, given the extended and sustained drop seen since the start of the month, Scotiabank’s Chief FX Strategist Shaun Osborne notes. CAD holds little changed near 1.38 “USD/CAD gains looked stretched relative to our fair value estimate at the start of the week and while the CAD has been able to stabilize, headwinds remain significant—especially from the cash bond and swap spread perspective where the risk of a November hold decision from the Fed and a 50bps cut by the BoC next week has driven differentials wider.”
by EZIO-FX
USDCAD Will Go Higher From Support! Buy! Please, check our technical outlook for USDCAD. Time Frame: 1D Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is testing a major horizontal structure 1.380. Taking into consideration the structure & trend analysis, I believe that the market will reach 1.394 level soon. P.S We determine oversold/overbought condition with RSI indicator. When it drops below 30 - the market is considered to be oversold. When it bounces above 70 - the market is considered to be overbought. Like and subscribe and comment my ideas if you enjoy them!
Long
by SignalProvider
2
USDCAD: Continuous Failed Break (2 year trials)Currently this pair is displaying a continuous consolidation structure, with high bullish pressure, the entire outlook is centered around an uprising triangle pattern which usually lure buyers to trade this setup. On the other hand, based on the sentiments of the week retailers are 95% base on shorts position. In addition, the BOC have provided insight on a JUMBO rate-cut of 50 BPS ratio next week specifically on Wednesday. The implemented rate could supply more printed notes in the economy and decrease the price of the Canadian Dollars. USDCAD have been in a Zombie phase for the past 2 years and unable to break 1.39500 point-level, could the incoming rate come with enough momentum to uplift all buyers expecting to go beyond the unbreakable level !!!
Long
by PHANTAMINUS
2
USDCAD: Short position triggered by resistance bounce!USDCAD has been on a steady upward trajectory since the start of October, experiencing an impressive nine consecutive bullish days. This rally has propelled the price to critical levels on both the weekly and daily charts. As the pair approaches the key resistance zone, signs of fatigue are becoming evident; the candles are shrinking in size, suggesting a waning momentum as buyers struggle to maintain control. When examining the broader context, it becomes clear that the price has faced significant resistance at the 1.38500 level on multiple occasions, leading to sharp pullbacks in the past. This historical resistance suggests that a reaction is likely as the price nears this threshold once again. Given these dynamics, I anticipate that the market may develop at least a short-term pullback from this resistance. If a rejection candle forms, indicating sellers stepping in, we could see the price begin to decline. This expectation aligns with the current market sentiment, where the upward momentum appears to be losing steam. However, traders should remain cautious as today is packed with economic news related to the Canadian dollar, which could introduce increased volatility into the market. This news may result in significant price swings, characterized by notable wicks in both directions as market participants react to the data. My target for this trade is the support level at 1.36650. A retracement toward this level could provide a favorable entry point for short positions if the resistance holds firm. Monitoring the price action around the 1.38500 area will be crucial; a clear rejection here could signal a shift in momentum and open the door for potential downside movement. In summary, while USDCAD has exhibited a strong bullish trend recently, the approach of the resistance zone at 1.38500 raises the possibility of a pullback. Traders should be vigilant for signs of rejection and prepare for the potential volatility stemming from CAD-related news, which could shape the price action significantly. A move towards 1.36650 would be a logical target for shorts, should the market react as anticipated.
Short
by lonelyPlayer0
1
USDCAD Weekly Chart Analysis for Position Traders💥 Get ready for a potential massive move on USDCAD! 💥 📊 This week, USDCAD printed a fresh IFVG (Inefficiency Fair Value Gap), signaling a trend reversal. What does this mean? Buckle up, because I believe we could be headed for 1.5400 📈 in the coming months, with a relatively equal high target at 1.4800. Any sudden dips in USDCAD are golden BUY opportunities! 🔥 💡 Retail traders, pay attention! While many are betting that potential rate cuts will weaken the USD, they might be in for a BIG surprise! Rate cuts don’t mean a weak dollar – they signal that the economy needs lower rates to support growth. 💰 Did Powell just drop a hint that a recession might be looming over the US? 🤔 With interest rates now back to levels we saw prior to the Global Financial Crisis (GFC), things could be heating up! 🚀 Position traders – this is your time to capitalize! Keep your eyes peeled for those key levels and stay sharp! 📉👉📈 Happy trading!
Long
by Mike_SnD
USDCAD Trendline Breakout Ready for a Long SellHello Traders In This Chart EURUSD HOURLY Forex Forecast By FOREX PLANET today EURUSD analysis 👆 🟢This Chart includes_ (EURUSD market update) 🟢What is The Next Opportunity on EURUSD Market 🟢how to Enter to the Valid Entry With Assurance Profit This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Charts
Long
by ForexMasters2000
1
USDCAD might build another leg upThe Canadian dollar continues to weaken against the US dollar amid reevaluating the FED's monetary policy expectations. Given the strong price discovery on USDCAD (it had jumped off the dynamic support of 20 and 50 moving averages for more than 3 daily volatility values), it may continue going up, after it completes the consolidation as shown in the chart. Should the trendline be visible, it might represent a decent opportunity with low risk and extended reward. Breakout trades are usually quick and don't require a wide stop. Remember to always manage your risk!
Long
by Stanislav_Bernukhov_Exness