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Usdcadlong

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
USD/CAD 1HR Chart Analysis - A Long Opportunity May Be CloseUSD/CAD had a fantastic move to the upside the first week of October which came to an end with a nice double-top reversal pattern last Thursday at 1.37850. Since then, we have had 2 pushes down and landed in a high-volume zone around 1.35800. At this moment, we have a two-leg pull back and about 24 hours of sideways price action on USD/CAD. The longer the price action goes sideways, statistically, the more likely a reversal will occur. DXY is also nearing the 30EMA on the Daily chart, but with some room to fall. These data points lead me to believe we may have to fall a bit more to find some bulls and get a "hot stove" response (a bull signal bar). If this occurs, I will be looking for confirmation around the top of the bear channel to make a long entry (around 1.35600) and take profits up to the previous high of around 1.37850. It all comes down to whether or not that bull reaction happens somewhere between here at 1.35800 and 1.35200. Trade wisely and let us know what you think in the comment section below!
Long
by TraderEngineering
USDCAD Detailed Analysis I 100 + Pip Move! Welcome back! Let me know your thoughts in the comments! ** USDCAD Analysis - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support!
Long
by BKTradingAcademy
14
USDCAD Long Term selling Trading IdeaHello Traders In This Chart USDCAD HOURLY Forex Forecast By FOREX PLANET today USDCAD analysis 👆 🟢This Chart includes_ (USDCAD market update) 🟢What is The Next Opportunity on USDCAD 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 ForexPlanet20
2
USDCAD - Long from bullish order block ✅Hello traders! ‼️ This is my perspective on USDCAD. Technical analysis: Here we are in a bullish market structure from daily perspective, so I am looking for long. I want price to make a retracement to fill the imbalances lower and then to reject from bullish order block + institutional big figure 1.35000. Fundamental analysis: Tomorrow we have important news on USD and CAD, will be released NFP in USA and Unemployment Rate in USA and Canada. Pay attention to the results in order to see the direction for short and medium term. Like, comment and subscribe to be in touch with my content
Long
by Snick3rSD
6
GBPCAD is expected to continue its short-term rebound.1. The GBPCAD currency pair is currently reversing its oversold conditions. In the upcoming week, GBPCAD is expected to continue its short-term rebound, with a focus on the release of Canada's monthly labor market statistics. It has potential for consolidation in the next five days due to oversold conditions on the daily chart. According to Shaun Osborne, an FX strategist at Scotiabank, short-term rebounds for GBP may be limited to the mid/upper 1.65s, with major resistance seen around 1.6850/60. Osborne suggests that a clear push above the upper 1.68s is needed for GBP to stabilize more broadly at this point. The potential for GBPCAD to reach levels near 1.68 could depend on the performance of the Pound-Dollar exchange rate, as the Canadian Dollar closely tracks the U.S. dollar, resulting in GBPCAD retracing in line with GBP/USD. 2. There is potential for additional technical gains anticipated for this week. From out indicator , both MA changed color from Red to Blue, in most of case, it tells us, the chart is changing from down trend to up trend/ from down trend to consolidation. So it you have Short Positions on hand, it is the time to take profit. On the order hand, it is the right time to establish Long Position of GBPCAD if you believe there is a technical rebounce for few days as a Swing trade strategy. We mark three key levels of GBPCAD on daily chart for your reference. Key Support Level is 1.6597. Key Resistance Level are 1.6699 and 1.6870. For us, we are running our Trading Rot for Algo trading GBPCAD and other CAD currency pairs(such as Short: CADJPY and CADCHF; Long: NZDCAD, EURCAD and USDCAD) which benefits from CAD turns to down side from Overbought. 3. The focus is expected to be on Canadian labor market statistics, which will hold significant importance. Learning about the CAD Dollar: Some common economic reasons that could contribute to a shift from a strong to a weak trend for a currency: a) Interest Rate Differentials: Changes in interest rates can impact a currency's strength. If a country's central bank lowers interest rates or signals a more dovish monetary policy, it can lead to reduced demand for the currency and potentially weaken its value relative to other currencies. b) Economic Growth and Performance: A weakening economic outlook or slower economic growth can negatively affect a currency. Factors such as declining GDP growth, rising unemployment, or weak economic indicators can contribute to a currency's weakness. c) Trade Balance and Current Account: A persistent trade deficit or a deteriorating current account balance can put downward pressure on a currency. If a country imports more than it exports or experiences a net outflow of capital, it can lead to a weaker currency. d) Commodity Prices: Canada is a major exporter of commodities like oil, natural gas, and metals. Fluctuations in commodity prices can have a significant impact on the Canadian dollar. A decline in commodity prices may weaken the CAD as it affects export revenues and the overall economic outlook. e) Political and Geopolitical Factors: Political instability, changes in government, or geopolitical tensions can impact a currency's strength. Uncertainty or negative developments in these areas can undermine investor confidence and lead to a weaker currency. It's important to note that currency trends are influenced by multiple factors, and the interplay of these factors can be complex. It's always recommended to consult up-to-date economic data and analysis to get a more accurate understanding of the specific reasons behind any recent shifts in the strength or weakness of a currency like CAD. Thank you for your kind attention. Good luck! See you next update.
Long
by ICT_Trader_SB
UsdCad- Constructive price action after 1.34 testRecently, UsdCad dropped under 1.35 support just to test the next important support from 1.34. Since that low on 20 September, the pair started to rise again and now is trading back at the old support now resistance and important 1.35 figure. The rise is painting an ascending triangle on our chart and this usually means up continuation. A break above resistance would bring confirmation and the pair could rise back to test the 1.3650 zone. A drop under 1.3450 would put the pair in a range trading mood.
Long
by Mihai_Iacob
18
USDCAD END-WEEK ANALYSIS-UPDATE 24/09/2023USDCAD Insight: Pursuing an Upside Path - Bridging Daily Imbalances USDCAD, a market characterized by its inverse connection with EURUSD, is presenting an intriguing scenario. Our prior forecast of a potential recovery proved accurate, but in the dynamic world of forex, we're now positioning for the next phase. Currently, I'm focused on the prospect of USDCAD continuing its upward trajectory to address the daily imbalance. Following a recent minor decline, we anticipate a significant upward move in tandem with DXY, under the condition that DXY maintains its price above 105.864. Join me as we navigate these forex dynamics. Stay tuned for the unfolding narrative! 📈📉 #USDCADInsight #ContinuationUpside #TradingView
Long
by Dion-FX
USDCAD H4 Wedge PatternUSD/CAD - H4 Chart - Falling Wedge Pattern formation Price need to Break the Trendline and Retest wedge Pattern and after strong Reversal formation, we take entry. Always wait for strong Conformation in Short term for entry. 👈👈👈 If you found my post helpful or informative, could you please leave a comment 💬🖌 and hitting that like button💚💚 “Markets are never wrong, but opinions often are.”-Jesse Livermore Good Luck💛💛
Long
by KABHI_TA_TRADING
27