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CAD

GBPCAD Quadruple top on 1D?The GBPCAD pair delivered a solid buy trade last time we analyzed it (October 05 2023, see chart below), easily hitting the 1.71110 Target, on a structure rise: The price is now signaling a bearish call as it has been rejected on the Lower Highs trend-line that started on the July 17 2023 High. This is technically a Quadruple Top if it stays that way and naturally there is strong sell potential behind it. The natural support levels are the 1D MA50 (blue trend-line) and 1D MA200 (orange trend-line), the latter of which is trading exactly on the Higher Lows trend-line, which is our first Target (1.6950). If the price closes below the 1D MA200 and Higher Lows trend-line, we will re-short and target the 0.618 Fibonacci retracement level, which is just below Support 1. What makes selling a stronger probability right now is the formation of a 1D MACD Bearish Cross, which has been a sell signal with 100% accuracy for the whole 2023. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Short
by TradingShot
USDCAD: Buy signal on a very consistent long term pattern.USDCAD is marginally bullish on the 1D technical outlook (RSI = 57.352, MACD = 0.001, ADX = 48.167) as it crossed over the 1D MA50 and is testing the 1D MA100 as Resistance. The key level is the 0.5 Fibonacci line, if crossed, we will buy and target the 0.382 Fibonacci (TP = 1.36400). The next buy will be on the 0.618 Fibonacci level targeting the bottom of the R1 Zone. See how our prior idea has worked out: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope
NZDCAD - Keep It Simple 👌Hello TradingView Family / Fellow Traders, On Daily: Left Chart NZDCAD broke below a previous major low so it is now acting as a local resistance zone, thus we will be looking for trend-following sell setups on lower timeframes. On H1: Right Chart 📈 For the bears to take over, we need a momentum candle close below the last major low in gray. 📉 Meanwhile, until the bears take over, NZDCAD can still trade higher for an over-extended correction movement. 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Richard Nasr
Short
by TheSignalyst
AUD/CAD: Geopolitical Factors and Technical Signals at play Dear traders, Dive into the AUD/CAD realm with a blend of geopolitical insights and technical signals: Before we venture into any further downward potential, keep a close eye on the critical level around 0.8822 for potential breakthroughs. Here's the geopolitical and technical mix in our AUD/CAD analysis: Geopolitical Considerations: Wednesday's Bank of Canada interest rate decision sparks intrigue. The balance of power in this market may shift, reflecting the delicate dance of global influences. Canada's economy, tethered to oil prices, could witness changes spurred by escalating tensions in the Middle East. A surge in oil prices may bolster the CAD. Conversely, any disturbance in the Persian Gulf, a vital oil source for China, could ripple through Australia's economy, intertwined with China's fate. Geopolitical events, like the Hamas-Israel conflict, may reverberate, potentially impacting China, Taiwan, and, subsequently, the AUD. Technical Signals: The battleground of charts and indicators beckons. Before anticipating major moves, consider the technical landscape. The Bank of Canada's decision could sway the market sentiment, making the 0.8822 level a pivotal point. A breach could signal a shift in the technical dynamics. This amalgamation of geopolitical considerations and technical intricacies sets the stage for an engaging AUD/CAD landscape. Stay tuned, adapt to unfolding events, and trade with prudence! Best regards.
Short
by AliSignals
USDCAD - further move down expectedThe USD/CAD pair is currently hovering around 1.3450 price zone after a recent dip from the psychological barrier of 1.3500. The Canadian dollar (Loonie) is facing some pressure as investors are less attracted to safe-haven assets, even though there's renewed hope that the U.S. Federal Reserve (Fed) won't lower interest rates until May. Oil prices have dropped slightly below $73.00 due to some economic headwinds. Global demand for oil is expected to remain subdued as central banks look to keep interest rates higher for a while longer to combat inflation. Additionally, China's post-pandemic economic recovery is still fragile, which is further weighing on oil demand. It's important to remember that Canada is a major oil exporter to the United States, and higher oil prices tend to support the Canadian dollar. If the USD/CAD pair drops below 1.3415, which was a high point on January 9th, it could open the door to further declines towards 1.3372, a high point on January 3rd, or even 1.3317, a low point on January 4th. Please see charts for all detils.
Short
by financialflagship
Fundamental Insights: CPI Trends and USDCAD OpportunitiesIn today's trading session, our attention is on USDCAD, where we are monitoring a potential buying opportunity around the 1.34700 zone. The currency pair, currently in an uptrend, is undergoing a correction phase as it approaches the trend at the 1.34700 support and resistance area. Now, let's add a fundamental layer to our analysis, considering the recent Consumer Price Index (CPI) data. Reviewing the CPI figures from the past few months, we observe a consistent pattern of inflation stability. The most recent data indicates a CPI of 3.4%, slightly surpassing the forecasted 3.2%, and showing a minor decline from the previous month's 3.7%. This stable inflation scenario can have implications for the US dollar. From a fundamental perspective, stable inflation often contributes to a stronger US dollar. Investors and traders tend to view stable inflation positively, indicating a healthy economic environment. This can potentially provide the Federal Reserve with room to contemplate tightening monetary policy, leading to USD strength. Traders should consider these fundamental factors in conjunction with technical analysis when evaluating potential moves in USDCAD. As always, trade safe.
Long
by JoeChampion
USD/CAD: Awaiting US Retail Sales Amidst Central Bank DivergenceUSD/CAD: Awaiting US Retail Sales Amidst Central Bank Divergence As the European trading session kicks off on Monday, the USD/CAD pair grapples with resistance under the 1.3450 area. The downward pressure on the pair is attributed to a weakening US Dollar (USD), compounded by a less-than-robust US Producer Price Index (PPI) report. Market Dynamics: Elevated expectations of easing by the Federal Reserve (Fed) persist, fueled by the recent decline in the USD and the subdued PPI figures. All eyes are now on the US December Retail Sales data scheduled for Wednesday, with an anticipated MoM increase of 0.4%, compared to November's 0.3%. On the Canadian Dollar (CAD) front, the Bank of Canada (BoC) is widely expected to pivot towards interest rate cuts in the coming year after a series of rate hikes. Speculation suggests that the first rate cuts could occur as early as spring. Technical Analysis: From a technical standpoint, the USD/CAD price remains within the 50% and 61.8% Fibonacci Zone, positioning itself for a potential retest of the 200 Moving Average and the Dynamic trendline. The confluence of these indicators raises the possibility of a retest, potentially leading to a new downward push in line with the prevailing main trend. Conclusion: The USD/CAD pair navigates a complex landscape marked by central bank divergence, economic data releases, and technical signals. The USD faces headwinds, fueled by Fed easing expectations and a lackluster PPI report, while the CAD anticipates potential rate cuts by the BoC. Traders will closely monitor the upcoming US Retail Sales data for further insights into the pair's direction, as it grapples with critical technical levels and evolving market dynamics. Our preference Short positions below 1.3530 with targets at 1.3300 & 1.3200 in extension.
Short
by FOREXN1
1
Buy GBPCAD Triangle PatternFactors Strengthening GBP: Hawkish BoE: Recent hawkish comments from Bank of England (BoE) officials regarding potential interest rate hikes to combat inflation have bolstered the Pound. This has increased its attractiveness compared to the Canadian Dollar. Optimism on UK economy: Despite ongoing Brexit negotiations, positive economic data releases like higher-than-expected GDP growth and retail sales figures paint a picture of a resilient UK economy. This fuels investor confidence in the Pound. Price breaks the Pattern now, its good chance to buy now. Thank you.
Long
by KABHI_TA_TRADING
2
USDCAD Breakout and potential retrace with today's CPI.In today's trading session, our focus turns to USDCAD as we anticipate a buying opportunity around the 1.33700 zone. Having recently broken out of its downtrend, the pair is now navigating a correction phase, approaching the critical retrace area at the 1.33700 support and resistance zone. Adding a fundamental perspective to the technical analysis, it's important to note the recent US December core CPI data, which revealed a 3.9% year-on-year increase, surpassing the expected 3.8%. This potential strength in the US dollar could contribute to a reversal scenario for USDCAD, and traders should closely monitor the unfolding dynamics in this session. As always, trade safe. Joe
Long
by JoeChampion