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Usdcadidea

Comment on the main exchange rate pair: USD/CADUSD/CAD still maintains a downtrend after the decision of the Bank of Canada USD/CAD has remained in a downtrend since Wednesday after the BoC voted to keep interest rates unchanged at 5.0%. However, the BoC still leaves open the possibility of raising interest rates even though the economy has weakened somewhat. From a technical perspective, USD/CAD fell below the 100-day MA after failing to overcome trend resistance at 1.3600. If bearish momentum continues to increase in the coming days, support lies at 1.3515 to 1.3485, coinciding with the 200 SMA and December lows. In case the price reverses to the upside, the first resistance lies at 1.3600. A break above this resistance could take the pair back towards 1.3630, beyond that to the 50-day SMA at 1.3700.
by FalCol_TradingMaster
7 Dimension Analysis For USDCAD🕛 TOPDOWN - Anticipating a Bullish Breakout in a Super Consolidation Phase Overview: The market has been in a super consolidation phase from 2016 to 2023, forming a yearly flag, signaling a potential continuation. Monthly and weekly scenarios reveal a ranging market, seemingly dull, but with indications of a change. The Wyckoff spring on the weekly chart signals a shift from a downtrend to a pre-breakout buildup, suggesting upcoming momentum and volatility. 😇 7 Dimension Analysis Time Frame: Daily 1️⃣ Swing Structure: Bullish to sideways 🟢 Structure Behavior: Break of Structure (BoS) 🟢 Swing Move: Impulsive sideways buildup 🟢 Inducement: Done, inside low confirmed. 🟢 Pull Back 1st: Strong, with the mitigation of the 1st Order Block (OB), a robust bull signal. 🟢 Internal Structure: Sideways bullish. Confluence across daily, weekly, monthly, yearly time frames. 🟢 Support/Demand Area: An imminent buy area. Trendline marked for a bullish breakout. 2️⃣ Pattern 🟢 CHART PATTERNS Reversal: Potential rounding patterns; internal round may form at the support level of 1.3520. 🟢 CANDLE PATTERNS Key Considerations: Observing candle behavior at the forthcoming support area. 3️⃣ Volume: At 1.3572, significant buy volume, marking a potent Point of Interest (POI) for bullish entry. 4️⃣ Momentum RSI: 🟢 Momentum State: Sideways zone. 🟢 Range Shift: Bullish to sideways. 🟢 Overbought Rejections: Count of 2. 5️⃣ Volatility Bollinger Bands: 🟢 Middle band below the price, a preferable position. 🟢 Commencement of a squeeze. 🟢 Completion of a head fake, indicating potential bullish movement. 🟢 Puncher pin at the lower band, a bullish signal. 6️⃣ Strength: USD is stronger than CAD at this point. ✔️ Entry Time Frame: Daily ✅ Entry TF Structure: Bullish ☑️ Current Move: Corrective move is done, and a churn in H1 (Hourly) suggests potential momentum. ✔ Support/Resistance Base: Daily demand area. ☑️ Candles Behavior: RSC, Long wicks, Doji, Momentum. ☑️ FIB Trigger Event: Confirmed. ☑️ Final Comments: Buy Now. 💡 Decision: BUY. 🚀 Entry: 1.3620 ✋ Stop Loss: 1.3540 🎯 Take Profit: 1.4049 2nd Exit if Internal Structure Changes, 3rd Trendline Breakout, FOMO. 😊 Risk to Reward Ratio: 1:5 🕛 Expected Duration: 30 DAYS SUMMARY: The analysis strongly suggests a bullish breakout in a market transitioning from super consolidation. With confluence across various time frames and supportive indicators like the Wyckoff spring, there's a comprehensive bullish bias. Key focus areas include a significant demand zone, observable candle behavior, and the completion of a head fake in the Bollinger Bands. The strategy involves a confident buy entry with clear risk management and exit criteria.
Long
by Optimum369
15
USDCAD BUY | Day Trading Analysis With Volume ProfileHello Traders, here is the full analysis. Watch strong action at the current levels for BUY . GOOD LUCK! Great BUY opportunity USDCAD I still did my best and this is the most likely count for me at the moment. Support the idea with like and follow my profile TO SEE MORE. Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 🤝 Patience is the If You Have Any Question, Feel Free To Ask 🤗 Just follow chart with idea and analysis and when you are ready come in THE GROVE | VIP GROUP, earn more and safe, wait for the signal at the right moment and make money with us💰
Long
by TheGrove
2
USD/CAD 1HR Analysis - Remain Long With The New Weekly Support!USC/CAD may have established a new support with the Weekly resistance as shown in in my USD/CAD Weekly Analysis Idea from October 9th. We have several factors pointing to remaining long at this stage: 1. Currently in a Bull Channel 2. Weekly Resistance is starting to act like Support 3. We have a minor Bear Channel/Bull Flag on the hourly 4. Last weeks Weekly candle closed above the Weekly Resistance in a second attempt to break it 5. DXY is still above the 30EMA on the Daily Chart/9EMA on the Weekly We should remain long in the short-term (Hourly Chart) and probably on the Daily/Weekly chart as well per my Weekly analysis. Long targets should be the previous Weekly Bear Channel Highs of 1.38600 and 1.39800 respectively. A long at this stage should have a protective Stop on the 1HR 200EMA with a first Take Profit at the top of the Hourly Bull Channel at 1.37500. From there, it's reasonable to hold some of your long position and add to it if we confirm a break above the channel to the next levels. As always, trade at your own risk, you are responsible for your trades, and I hope this information was helpful. Trade wisely and let us know what you think in the comment section below!
Long
by TraderEngineering
BluetonaFX - USDCAD Descending Triangle SHORT IdeaHi Traders! There is a descending triangle forming on the USDCAD 4H chart, and there may be possible opportunities for short entries leading to a potential support trendline break. Price Action 📊 The market has had lower market swings filled with lower highs and lower lows since, along with a recent upside rejection candle and break below the 20 EMA, creating a descending triangle pattern on the chart. We are looking for further bearish momentum to break and close the trendline support line and continue to the downside. Fundamental Analysis 📰 Though the market's outlook on the USD is still very positive due to very strong data recently released along with continued positive statements from the Federal Reserve, there is possibility that traders are profit-taking on USD pairs meaning that new waves of buyers will be needed for any bullish momentum to take over.   Support 📉 1.35693: TRENDLINE SUPPORT Resistance 📈 1.36743: TRENDLINE RESISTANCE Risk ⚠️ No more than 2% of your capital. Reward 💰 At least 4% of your capital. Please make sure to click on the like/boost button 🚀 as your support greatly helps. Trade safely and responsibly. BluetonaFX
Short
by BluetonaFX