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USD/CAD LMAX

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USDCAD_LMAX trade ideas

Canadian dollar shrugs as Can. CPI drops to 3-year lowThe Canadian dollar is almost unchanged on Tuesday after posting gains over the past two days. In the North American session, USD/CAD is trading at 1.3636 at the time of writing. Canada’s headline CPI rose to 2.5% year-on-year in July, down from 2.7% in June and matching the market estimate. This marked the lowest annual inflation level since March 2021. Monthly, inflation rose to 0.4% in July following a decline in June of -0.1% and in line with the market estimate. The jump in the monthly report was driven by higher gasoline prices. Core CPI, which is more closely monitored by the Bank of Canada, also eased. The average of two of the Bank of Canada’s (BOC) core measures of inflation eased slightly to 2.55% year-on-year in July, compared to 2.7% in June. The decline in inflation is an encouraging sign for the BoC, which would like to continue trimming interest rates as the economy cools and also provide relief to homeowners who are struggling with high rates. The Bank of Canada meets on September 4 and is mindful that the Federal Reserve is almost certain to lower rates, perhaps by a half-point. This means that BoC policy makers don’t have to worry that another rate cut would hurt the Canadian dollar if the Fed follows suit with its own rate cut. The Federal Reserve will almost certainly lower rates at the September meeting, with uncertainty as to the size of the expected reduction. The probability of a 25-basis point cut stands at 75% and a 50 bps cut at 25%, according to the CME’s FedWatch. On Friday, Jerome Powell will address the Jackson Hole Symposium and could signal what the Fed has in store for next month’s meeting. USD/CAD tested support at 1.3614 earlier. Below, there is support at 1.3594 There is resistance at 1.3650 and 1.3670
by OANDA
USD/CAD Hit A Bouncing Support Lets Buythe area around 1.36000 - 1.36300 is an absolute strong support and a very resilient block that the price touched over 8 time and failed completely to break. now tha price came back again to it after being pushed by a historical resistance. the 4h price action was very promising showing a really good bullish price action. based on all these reasons u can enter a buy trade now with me and the chart shows all the trade details
Long
by Forex_Wealth_Factory
11
1:10 RISK TO REWARD SELL SETUP FOR USDCADCore Analysis Method: Smart Money Concepts Here’s a detailed breakdown of the analysis based on the Smart Money Concepts methodology: 😇 7 Dimension Analysis Time Frame: 15M Swing Structure: The structure is currently bearish, with multiple Breaks of Structure (BOS) confirming the downtrend. The price has mitigated Inducement and is now undergoing a corrective swing move. Only the extreme Sell Order Block (SOB) is identified as the Point of Interest (POI) in the Premier zone, making this area highly attractive for sellers. This area has also served as a Resistance or Demand zone for sellers in the past, adding to its significance. Pattern: 🟢 Chart Patterns: To be assessed once the price reaches the POI. 🟢 Candle Patterns: Will be updated upon the price reaching the POI. Volume: 🟢 Significant volume is observed in the selling areas, indicating strong selling interest. Momentum RSI: 🟢 The RSI is in the super-sell zone, indicating strong bearish momentum. Although there is an attempt at a range shift, it’s not confirmed yet, and the bearish sentiment still dominates. Volatility Bollinger Bands: 🟢 The volatile move is about to conclude, and the market may require some time to cool down before the next significant movement. Strength ADX: The ADX indicates that sellers are firmly in control, supporting the bearish outlook. Rating: ⭐⭐⭐⭐ (4 Stars) Probability: 60% The setup shows a moderate-to-high probability, but confirmation from patterns and additional indicators could increase this further. ✔️ Entry Time Frame: 15M ✅ Entry TF Structure: Bearish ☑️ POI: Extreme unmitigated OB 💡 Decision: Sell Limit 🚀 Entry: 1.3678 ✋ Stop loss: 1.3686 🎯 Take profit: 1.3602 😊 Risk to reward Ratio: 10 RR 🕛 Expected Duration: 2 Days SUMMARY: The analysis suggests a strong selling opportunity on the 15-minute timeframe, with a sell limit entry at 1.3678. The stop loss is tightly set at 1.3686, providing a high risk-to-reward ratio of 10:1, with a take-profit target at 1.3602. This setup is favored by the current bearish market structure and the significant volume observed in selling zones. While the momentum is still bearish, the upcoming price action near the POI will be crucial in confirming this trade's potential. Monitoring the formation of chart and candle patterns at the POI will be essential for executing this setup effectively.
Short
by Optimum369
USDCAD Will Go Higher! Buy! Take a look at our analysis for USDCAD. Time Frame: 3h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is trading around a solid horizontal structure 1.361. The above observations make me that the market will inevitably achieve 1.366 level. P.S Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all. Like and subscribe and comment my ideas if you enjoy them!
Long
by SignalProvider
1
USDCAD → The currency pair is preparing to decline. Target 1.360FX:USDCAD for the last few days does not show any preconditions for a pullback or growth, forming a pre-breakdown consolidation relative to 1.372. The fall of the dollar can provoke a breakdown.... Technically, the price is returning to the range of 1.3755 - 1.3600. The bears are holding resistance, forming a descending triangle under the upper boundary of the range, which is generally a prerequisite for a fall. The only possible target in such a case could be the range support. According to the survey conducted by BofA among investors, more and more traders are betting on the decline of the dollar. The general policy of the Fed is also putting pressure on the index. The currencies may go into a strengthening phase.... Resistance levels: 1.3755, 1.3787 Support levels: 1.372, 1.3655 Technically, the currency pair is forming a local downtrend, and the intermediate patterns play the role of triggers for the continuation of the movement. Accordingly, I continue to expect that the currency pair may decline to 1.36 Rate, share your opinion and questions, let's discuss what's going on with ★ FX:USDCAD ;) Regards R. Linda!
Short
by RLinda
8