USDCAD - Bullish TrendUSDCAD with Ascending channel support indicates continuation of bullish trend.
USDCAD trade ideas
USD/CAD Potential trade to LongFX:USDCAD
I am currently looking at a Long position, waiting to see how the price will react to the fundamentals and the PPI in USD.
After that I would be interested in the 1.41900 area for the first entry and the 1.41560 area for the second. In both of these zones, I find the confluences needed for entry, but the result of fundamnet will be decisive
USDCAD Elliott Wave AnalysisHello friends
In the previous analysis of the currency pair USDCAD, we expected the price to grow and also specified the profit-taking range.
Now, if you took your profit at the desired point and exited the trade, you can enter the buy trade again to reach a higher target.
The reason for this is the formation of microwaves 1 to 4 of the main wave 5, and currently it is appropriate to enter the buy trade to catch the price growth in the main wave 5 of 5.
The stop loss is at 1.3965. And the profit limit is at 1.4200.
To support me, I recommend that you install the Trading View application on your phone and see my analyzes and support me with your comments and Boost. Be successful and profitable.
USDCAD Rejected at 1-Year High, Targeting 1M PivotHello,
FX:USDCAD has reached a 1-year high of 1.446735, but has just been rejected at this level. Moving forward, we can expect a steady decline, with the 1-month pivot point as the initial target.
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TradeWithTheTrend3344
USDCAD - Bullish Trade Price is moving in bullish trend.
No bearish divergence indicates continuation of trend.
USDCAD Wave Analysis 16 December 2024
- USDCAD reversed from support zone
- Likely to rise to resistance level 1.4300
USDCAD currency pair recently reversed up pivotal support level 1.4140, former resistance level which reversed the price sharply at the end of November.
The upward reversal from the support level 1.4140 started the active impulse wave 5 of the higher order impulse wave (3) from September.
Given the clear daily uptrend, USDCAD currency pair can be expected to rise further to the next resistance level 1.4300.
USD/CAD Price Action: CAD Hits Record Lows Against US DollarRecent developments have significantly impacted the USD/CAD pair, pushing it above 1.4200, marking the Canadian dollar's lowest level against the US dollar since March 2020. This decline is driven by the recent resignation of Canadian Finance Minister Chrystia Freeland, sparking political and economic uncertainty amid ongoing tariff policy disputes with the US. The Bank of Canada's decision to lower its key interest rate by 50 basis points to 3.25%, following weak GDP growth data, has further pressured the CAD. Despite stronger-than-anticipated consumer spending, the BoC has signaled a pause on aggressive future rate cuts, leaving room for potential economic adjustments in response to growth and inflation challenges. Meanwhile, the US Federal Reserve's optimistic outlook on inflation and a robust labor market points to a cautious approach on rate cuts, supporting the dollar's strength. As uncertainties surrounding US tariffs and economic data unfold, traders should closely monitor these developments to anticipate further USD/CAD movements and make informed trading decisions.
USDCAD Correction ImminentHello,
FX:USDCAD has reached a new high. Once sufficient resistance is established, a decline is anticipated. The initial test will be the monthly pivot point (1M PP) and the subsequent support structure. A break below this support would confirm further downside potential.
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USDCAD H4 | Bearish Drop?Based on the H4 chart analysis, we can see that the price is currently at our sell entry at 1.4242, a resistance that aligns with the 161.8% Fibonacci extension
Our take profit will be at 1.4185, a pullback support.
The stop loss will be placed at 1.4265, which is a swing-high resistance.
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USDCAD Trade Idea👀 👉 USDCAD has shown impressive momentum, rebounding strongly from a key support level. Im looking for a long entry targeting the previous highs as shown in the chart 📢 *Disclaimer: This content does not constitute financial advice.
USDCAD: Excellent short term buy opportunity.USDCAD is heavily bullish on its 1D technical outlook (RSI = 67.681, MACD = 0.007, ADX = 22.105) as it trades inside a Channel Up, supported by the 4H MA50. The 4H MACD is forming a Bullish Cross and in the past 2 months this has been a strong bullish signal. In line with the previous bullish waves, we are aiming for a +2.60% rise from the bottom (TP = 1.42850).
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Bid and Ask ExplainedDo you know what Bid or Ask means? If you’re a trader, you should keep reading if these terms sound unfamiliar to you, or you are unsure. After all, they are the terms used to explain the buying and selling process within markets.
Let’s get started! When you look at a tradable financial market, you'll notice two prices listed: the bid and the ask. Here's a quick guide to help you understand these core concepts:
1. Bid : the price at which you can sell (this is the price where someone is “bidding” to buy it at).
2. Ask : the price at which you can buy (this is the price where someone is “asking” to sell it at).
The bid price is always lower than the ask price. This is just Business 101, as buyers are trying to get a better deal than sellers. So, they bid lower than the ask.
What is Spread?
The spread is the difference between the bid and the ask prices. It's essential for calculating your potential profit or loss from a trade.
Example : If EUR/USD is trading at 1.1259, the bid might be 1.1257 and the ask 1.1260. To buy EUR/USD, you would enter at 1.1260. For any profit, the bid price must rise above 1.1261. If EUR/USD moves up two pips to 1.1261 but the bid remains at 1.1259, you would break even.
Understanding these basics can help you make more informed trading decisions. Happy trading!
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USDCAD - Bear Bat Pattern - Aggressive & Conservative ApproachesToday we look at both aggressive & conservative ways to trade a completed bearish bat pattern on the USDCAD using both simple & classic chart patterns such as rising channels & double tops to give us confirmation.
In this video, we also discuss other elements of technical analysis including the Lower Low, Lower Close candlestick combination, the RSI and more.
Akil
USD/CAD Exchange Rate at a 56-Month HighUSD/CAD Exchange Rate at a 56-Month High
As evidenced by the USD/CAD chart, yesterday the rate climbed above 1.4190 – a level not seen since April 2023, when the world was gripped by panic over the spread of the coronavirus.
Today, the weakness of the Canadian dollar relative to the USD is being influenced by a rich fundamental backdrop. As reported by the media:
→ Formerly elected President Donald Trump has previously stated that he would impose a 25% tariff on all goods from Mexico and Canada as soon as he takes office on 20 January, joking that Canada should become the 51st state. Yesterday, Trump posted on social media that he looks forward to meeting with Canadian Prime Minister Trudeau again to "continue our in-depth discussions on tariffs and trade."
→ At 17:45 GMT+3 today, the Bank of Canada will announce its decision. It is expected to cut its interest rate by 50 basis points to 3.25% and likely signal that further rate cuts are possible in light of the sharp rise in unemployment levels.
→ At 16:30 GMT+3 today, the Consumer Price Index (CPI) data will be released. It is expected that US inflation will remain unchanged.
As a result, heightened volatility is highly likely today, which could significantly affect the nature of the current upward trend.
Note that on 25–26 November, a spike in volatility was observed on the USD/CAD chart, visible through the ATR indicator, which caused the channel's slope to become less steep. Today’s batch of news carries the highest significance: traders should prepare for both the scenario of a new 56-month high being reached and an attempt by bears to reverse the trend.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
USDCAD Sell IdeaUSDCAD
My Bias:11 Dec 2024
Reversal/Bearish Indications:
1-USDCAD moving inside the trend channel since Nov-2023
2-Price is respecting upper & lower trend lines strongly since Nov-2023
3-Lower trendline is being respected since July-2021
4-Formation of Crab Reversal Harmonic Pattern and PRZ along with bearish divergence on DTF
5-Formation of BAT Reversal Harmonic Pattern and PRZ along with bearish divergence on 1HTF
6-Currently, Price is hesitant to cross strong weekly resistance & supper trendline of 1.41883.
7-DXY index is extremely bullish
8-94% traders are short on sentiments (Strategy-2)
9-BOC cut 0.50 BPS rate from 3.75 to 3.25 which means CAD will bearish furthermore.
But the important observation is that CXY is extremely bearish currently. If CXY doens't shows the signs of bullish reversal then there are chances that USDCAD will breaks the upper trendline and may continue upward furthermore.
Note: I am taking this trade even CAD is becoming weak but Crab on DTF & BAT on 1HTF with divergence, Strong resistance, 94% short sentiments convincing me to short this pair.
USDCAD - Looking to go long from H4 Demand ZoneHere we have USDCAD on H4. I am looking to go long at the Demand Zone as shown.
I need to see a bullish price action when price reaches the demand zone.
I will update accordingly once the trade is triggered.
USDCAD LONGMarket structure Bullish on HTFs 30
Entry at Daily AOi
Weekly Rejection At AOi
Previous Weekly Structure Point
Daily Rejection At AOi
Previous Daily Structure point
Around Psychological Level 1.40500
H4 EMA retest
H4 Candlestick rejection
Rejection from Previous structure
Levels 6.32
Entry 110%
REMEMBER : Trading is a Game Of Probability
: Manage Your Risk
: Be Patient
: Every Moment Is Unique
: Rinse, Wash, Repeat!
: Christ is King
USDCAD SELLusdcad sell stop, placed at the breakout of the 15min support on which we place sell stop order. as the usdcad is countinuously bullish and there is a little retracement is pending so its time to sell the pair , and we hope this setup will perform as we mentioned inshallhaa
USD-CAD Bullish Breakout! Buy!
Hello,Traders!
USD-CAD is trading in a
Strong uptrend and the
pair made a breakout of
The key horizontal level
Of 1.4180 and the breakout
Is confirmed so we are
Bullish biased and we will
Be expecting a further
Bullish move up
Buy!
Comment and subscribe to help us grow!
Check out other forecasts below too!
USDCAD DOUBLE TOP PATTERNUSD/CAD Analysis: Double Top and Rising Wedge Patterns Detected
The USD/CAD pair is experiencing a bearish reversal, with two distinct patterns emerging:
Key Indicators:
- Double Top Pattern: A clear double top formation has been identified, indicating a potential reversal in the upward trend.
- Rising Wedge Pattern: A rising wedge pattern has also been detected, suggesting a bearish breakout may occur.
Key Levels:
- Resistance: 1.45102
- Support: 1.39000
- Target: 1.38000
- Stop Loss: 1.42641
Recommendation:
Caution is advised, as a bearish breakout may occur. Consider short-term sell positions or hedging strategies to mitigate potential losses.
Best Wishes Tom 😎
USDCAD - 4hrs ( Buy Trade After Retest Tp Range 180 PIP )Pair Name :USD/CAD
Time Frame : 4hrs Chart / Close
Scale Type : Large Scale
------
Key Technical / Direction ( Long After Retest )
———————————
Bullish Retest
1.41100 Area
reasons
- Major Turn level
- Visible Range Hvn
- Pattern Retest
- CHoch zone
- Fibo Golden
Bearish Reversal
1.43000 Area
Reasons
- Major Turn level
- Visible Range Hvn
- pattern Target
- Visible range Hvn
- Fibo Golden Zone
USDCAD | 11.12.2024SELL 1.41850 | STOP 1.42400 | TAKE 1.41000 | Pattern correction from local maximum price range.
USDCAD- shortUSDCAD seems to be making wave c of a correction. Overall USDCAD should start making a larger pullback on daily or H4.
