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USD/CAD LMAX

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USDCAD_LMAX trade ideas

Idea on a chartWe have a great trend.USD/CAD edges lower to near 1.3545 in Wednesday’s early Asian session. US ISM Manufacturing PMI came in at 47.2 in August vs. 46.8 prior, missing the estimation. The BoC is likely to cut rate at its September meeting on Wednesday. The USD/CAD pair trades on a weaker note around 1.3545 during the early Asian session on Wednesday. The weaker-than-expected US ISM Purchasing Managers Index (PMI) drags the Greenback lower. The Bank of Canada (BoC) interest rate decision will be the highlight later on Wednesday, with a 25 basis points (bps) rate cut expected. The business activity in the US manufacturing sector continued to contract, albeit at a softer pace in August. The US ISM Manufacturing PMI rose from an eight-month low in July at 46.8 to 47.2 in August. This figure was below the market consensus of 47.5 and register the lowest reading since November.
by EZIO-FX
2
USD/CAD H4 | Potential bullish breakoutUSD/CAD is rising towards a potential breakout level and could jump higher from here. Buy entry is at 1.3575 which is a potential breakout level (wait for the 1-hour candle to close above the Buy Entry for confirmation). Stop loss is at 1.3517 which is a level that lies underneath a pullback support. Take profit is at 1.3699 which is an overlap resistance that aligns with the 50.0% Fibonacci retracement level. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 62% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 59% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third-party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
Long
by FXCM
USDCAD - Make CAD Great AgainWith the world reopening, Canada will keep bringing in those black gold profits thus strengthening the CAD relative to the USD, which gaining power due to being the financial "central" currency. A second wave of Covid-19 seems to be less likely day after day and this will help a lot to boost consumer confidence which goes hand in hand with consumer spending. So, we can expect a good recovery in general businesses overall, pushing up the major indexes like US30, NAS100 , GER30 etc which are usually correlated, positively, to pairs of the type XXX/USD, this mean, if one major index goes up, so are the other major indexes and so are the major pairs! This being said, if XXX/USD goes up with a overall economic recovery, pairs like USD/XXX should go down and this brings me to USDCAD . USDCAD used to roam the area between 1.24 and 1.36. As of right now we are on a descending triangle of the major timeframes. A break from this triangle to the downside, could push us towards 1.36 area over the next few weeks / months. I am personally looking for this break to the downside, I have intentions to hold a position for quite some time on this one.
Short
by TradingAdventures
1
USD/CAD rises towards resistance ahead of key macro events The USD/CAD pair faces a potentially volatile week due to major economic data releases from the US and Canada. Key events include: 1. US Data Releases: Critical reports like the ISM Manufacturing PMI, JOLTS job openings, and Friday’s August jobs report will influence the U.S. dollar. A strong jobs report could stabilize the dollar, while weaker data may lead to further declines. 2. Bank of Canada Rate Decision: The Bank of Canada is expected to cut rates by 25 basis points on Wednesday, following previous cuts. With Canada’s labor market showing signs of cooling, further monetary easing seems likely. However, a strong jobs report could boost the Canadian dollar despite the rate cut. Technical Outlook: The USD/CAD recently dropped sharply, but it is now rebounding towards a critical resistance zone at 1.3570-1.3600. A move above this zone is needed to turn the tide; otherwise, the path of least resistance on this pair remains to the downside. By Fawad Razaqzada, market analyst at FOREX.com
by FOREXcom
USDCAD Will Go Higher! Long! Here is our detailed technical review for USDCAD. Time Frame: 1h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is approaching a key horizontal level 1.349. Considering the today's price action, probabilities will be high to see a movement to 1.351. 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
1
USDCAD Poised for Potential Rise Amid PCE Data ReleaseUSDCAD Poised for Potential Rise Amid PCE Data Release Over the past week, USDCAD has been moving down in a corrective way. The price has started to form a more complex pattern, suggesting a potential rise for the Z wave, as indicated in the chart. While the pattern isn’t entirely clear, there is a significant chance it could develop in this direction. Yesterday, the US reported growth in GDP data. This positive economic indicator increases the likelihood of an improvement in the upcoming PCE data release. If the PCE data shows favorable results, it could further support a rise in USDCAD. We could see USDCAD go up to 1.3490 and possibly close to 1.3500 if all goes well. You may find more details in the chart! Thank you and Good Luck! ❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Long
by KlejdiCuni
7