USDCAD A SHARP BEARISH MOVE EXPECTEDThe USD CAD pair is expected to bounce to a level near Order Block and then show a sharp bearish move in the FVG region. The seasonality and fundamentals are also supporting the idea wherein USD is weak as compared to CAD. What are your views on this ?????Shortby NEXTIn_Financials0
USD/CAD H4 | Falling to overlap supportUSD/CAD is falling towards an overlap support and could potentially bounce off this level to climb higher. Buy entry is at 1.3632 which is an overlap support that aligns with the 61.8% Fibonacci projection level. Stop loss is at 1.3578 which is a level that lies underneath a swing-low support. Take profit is at 1.3719 which is a pullback resistance. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd, previously FXCM EU Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third-party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.Long03:08by FXCM2
Buy Opportunity at the 38.2% Fibonacci Level (1.3704)We are looking to buy at the 38.2% Fibonacci retracement level, which is at 1.37. Yesterday was a big profit day for us 70 pips profits, especially with multiple pairs including USD/CAD, which saw significant upward movement. - Current Trend: We remain bullish overall. - Correction A correction is coming before the bulls return This correction has plenty of room to move lower without impacting the higher trend. Target: Our target for this move is 1.3743, which aligns with yesterday's high. Entry Details: - Entry Level 1.37048 (38.2% Fibonacci retracement level) - Target: 1.3743 - Stop Loss: 1.3658 This setup aims to capitalize on the potential continuation of the bullish trend while managing risk effectively.Longby EleazarahmathUpdated 2
correction It is expected that the price will not consolidate above the indicated resistance range. Then the continuation of the correction process will be possible. After the completion of the corrective process and with the condition of stabilization above the support range, the beginning of the upward trend will be probableShortby STPFOREX2
Bullish bounce off 61.8% Fibonacci support?The Loonie (USD/CAD) is falling towards the pivot and could potentially bounce to the 1st resistance. Pivot: 1.3644 1st Support: 1.3589 1st Resistance: 1.3735 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.Longby ICmarkets6
Bullish setup from the FVG and BPR confluencePrice finally strongly broke up the descending trendline and created BPR and FVG, it these levels are retested I will be interested in taking long from them and targeting previous highs. always follow these rules - Accumulation / Manipulation / Distribution - No liquidity raid = No trade - Never buy high and never sell low “Adapt what is useful, reject what is useless, and add what is specifically your own.” Dave FX Hunter ⚔ Longby Dave-FX-HunterUpdated 3
USDCAD moving lower this week**Monthly Chart** USDCAD is moving within a large range between 1.30000 and 1.40000 level since Oct 2022 as per monthly chart range. **Weekly Chart** The pair is still moving within the range after creating a weekly key reversal around the relative equal highs. The obvious move is to downside at least to test demand zone around 1.32000 level. **Daily Chart** The expectation for this week is that USDCAD will push lower from previous swing high level. We need to see a pullback reaction before taking the price lower. Next target will be to break the previous swing low below 1.36000 level.Shortby PropSignals1
USDCAD: Shorting After Weekly Resistance Rejection (High-Risk Se The USDCAD has fallen back after encountering resistance on the weekly chart. This analysis explores the potential for a short trade, while emphasizing the inherent risk involved. Technical Analysis: Resistance Rejection: Price faced selling pressure at a key resistance level on the weekly timeframe. This suggests a potential shift in momentum towards the downside. Shorting Strategy (High Risk): Confirmation Optional (but recommended): While not strictly necessary for a short entry, confirmation from a bearish price pattern or a daily candle closing below support could strengthen the short thesis. Risk Management is Crucial: Given the high-risk nature of this setup, proper risk management is essential. Define clear entry, stop-loss (above resistance), and take-profit levels based on your strategy and risk tolerance. Important Considerations: Market Context: Fundamental factors and economic data releases can also influence price movements. Staying informed about events impacting the US and Canada can provide valuable context for your trade. Do Your Own Research (DYOR): This analysis provides a potential trade idea, but it's not a guaranteed outcome. Always conduct your own research and analysis before entering any trade. Remember: The forex market can be unpredictable. Shorting any currency pair carries significant risk. By combining this analysis with proper risk management and additional research, you can make informed trading decisions in the USDCAD market.Shortby OMGiTzREALHASSAN1
STRONG "HEADED" REVERSAL COOKING UP?? - UCADHere I have USD/CAD on the 1 Hr Chart!! Price attempted a BULLISH BREAK of the Falling Resistance but was quickly halted and retuned to the Low created before the MASSIVE PUMP! Now on closer examination, price seems to have a underlaying Reversal Pattern beginning to take "Face". A HEAD AND SHOULDERS PATTERN!! Now with our "Neckline" @ 1.36567 being confirmed after the formation of the First Shoulder and Head, we can expect to see 1 last attempt at a HIGH!! This HIGH I believe will be at the Same level as the First Shoulder, forming the Second, which will be CONFIRMATION OF PATTERN!! Then, upon arrival back at the Neckline, we will be looking for SELLING OPPORTUNITIES!! **IF Price BREAKS & CLOSES ABOVE the First Shoulder @ 1.36984, Pattern is INVALIDATED!! First Profit Target Zone will be at the SUPPORT ZONE @ ( 1.3627 - 1.3600 ) RangeShortby Novi_FibonacciUpdated 1
Key Canadian trading events this week On Friday, alongside the US PCE data release, Canada will publish its Q1 GDP growth figures. Earlier in the week, Canada will also release its producer prices data. Note that US markets will be closed on Monday for Memorial Day. According to the Royal Bank of Canada, the Canadian economy likely grew more quickly in Q1 2024 based on headline figures. However, this growth was still insufficient to keep pace with the surging population. Consequently, GDP per capita contracted for the seventh consecutive quarter. Speaking of the Royal Bank of Canada, they will also be reporting its earnings this week, along with other major Canadian banks. Tuesday, May 28 Earnings: Bank of Nova Scotia Wednesday, May 29 Earnings: Bank of Montreal, National Bank, EQB Inc. Thursday, May 30 Earnings: CIBC, Royal Bank of Canada Friday, May 31 8:30 a.m. Canada Q1 GDP Earnings: Laurentian Bank, Western Bank The USD/CAD ended its four-day winning streak on Friday, closing down by half a percent at approximately 1.3660. Declining crude oil prices had been putting pressure on the CAD until now. Buyers could step in around this level for a potential bounce back though. Additionally, the upcoming OPEC+ meeting on June 2 could influence this pair. Market participants are watching for potential output cut extensions by major producers to address global oversupply concerns and support prices, which might cause hesitation among USD/CAD buyers at the 1.3660 level. by BlackBull_Markets1
USDCAD Analysis Dear traders, USDCAD broke out the down trend channel, by that it activated a sequence for higher targets, and made a correction for the golden fibbo zone. i believe that USDCAD is going long.Longby Hassanberjawi3317
Usdcad analysis Price has taken the previous low,making it a break of structure.for we waiting for the market to tap into the point of interest before falling even further.Longby CurrencyMomentumFX3
BUY USDCAD for uptrend continuation BUY USDCAD for uptrend continuation STOP LOSS : 1.3595 There is a strong trend on the daily time frame and all that have happened in the past days was just consolidation ( or trend pull back before continuation) ..... The daily time frame is showing strength continuation from this level of support and resistance so we are looking for the trend to push forward from here ..... TAKE PROFIT : take profit will be when the trend comes to an end, feel from to send me a direct DM if you have any question about take profit or anything Remember to risk only what you are comfortable with…….trading with the trend, patient and good risk management is the key to success here Longby BALE_FX8
USDCAD Buys BOS in 30 minute to the upside Price looks to be in an uptrend Taking this to previous high.Longby tallbroketraderUpdated 5
A Ranging Market - Buy Low, Sell High (USDCAD incoming shorts) USDCAD has recently rejected a key supply zone that has influenced sell positions since October 2022. This rejection sets the stage for a potential decline towards the 1.32 level. The following upcoming news events and data releases are crucial to watch, as they may impact USDCAD's trajectory: May 27, 2024: Bank Holiday (low market activity expected) May 28, 2024: CB Consumer Confidence (impact on USD sentiment) May 29, 2024: No significant news or data releases May 30, 2024: Preliminary GDP q/q, Unemployment Claims, Pending Home Sales m/m May 31, 2024: Core PCE Price Index m/m (a major inflation indicator for the USD) Given these scheduled releases, we anticipate USDCAD to begin its move downward. Stronger-than-expected data supporting the USD could provide resistance to this move, while weaker data could accelerate the decline. Monitoring these events will be critical for traders to gauge the potential direction and momentum of USDCAD.Shortby TheForexMessiah225
USDCAD Trading plan - 25/may/2024Hello Traders, Hope you all are doing good!! I expect USDCAD to go Up correctively. Look for your BUY setups. Please follow me and like if you agree or this idea helps you out in your trading plan. Disclaimer: This is just an idea. Please do your own analysis before opening a position. Always use SL & proper risk management. Market can evolve anytime, hence, always do your analysis and learn trade management before following any idea.Longby For3xScalper223
Short on USDCADwe are looking for shorts on USDCAD after we saw it break through a bearish channel and creating a lower lowShortby simeonjohannes442
USDCAD Short Scenario!A head and shoulders pattern can be formed for USD/CAD, and I anticipate a sell opportunity for the pair from slightly above the trend line.Shortby Babakr1
USDCAD Strong sell following today's rejection.USDCAD is neutral on its 1D technical outlook (RSI = 50.081, MACD = 0.001, ADX = 32.778) as it formed a Lower High yesterday and today got sold aggressively. This is a Channel Down since the April 16th High, which having broken under the 1D MA50, has confirmed the continuation of the bearish price action. We expect the 1D RSI to at least hit the 30.000 level, as every rejection on the R1 Zone, saw the pair reach at least the 0.618 Fibonacci level. We are bearish, aiming at that level (TP = 1.34350). 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. ##Shortby InvestingScope115
USD/CAD: LONG TRADEHowdy! The daily frame showed an inverted hammer candlestick pattern. Support and resistance lines were placed on the most recent swing highs and swing lows. Moving on to the 4-hour frame, a trendline formed a descending triangle. The price did not break through the support line but through the trendline, and a retracement was made. I predicted that the trend would continue to go up. Thank you for taking a look!Longby themarketmovesUpdated 1
USD/CAD Long (Swing) First idea Post on TradingViewHello fellow traders! Today I am making my first post on TradingView. We'll be looking at FX:USDCAD from my perspective hopefully someone can gain some insight or if i am wrong, you guys can share your ideas with me! This post may seem long to some, Thank you to those who will go through my idea in its entirety. To begin from a fundamental level USD is currently bullish as the now all but confirmed higher rates for longer as inflation has picked back up in the last quarter coupled with the resilient US economy. This should give investors faith in a strong dollar at least until the US elections, unless the backdrop of economic conditions change in the US. CAD is currently dovish with the expectations of a rate cut at the latest in Q3 2024. CAD also released many different statistics this week with almost all of them showing a weakening/constricting economy. With these economic conditions and the rate divergence outlook I believe USD/CAD is fundamentally bullish. Now for the technical analysis A look at the monthly chart: As we can see we are trending upward since June 2021 making HH's and HL's on monthly timeframe. Now let's take a look a look at the weekly: Here we can see it looks as though we are trading in a range from 1.32-33 to 1.38-39 with the past 5 closes and this weeks upcoming close showing strong support at 1.36 but with little conviction to push the price higher immediately. The daily chart: On the daily we recently broke out above the channel and retested the breakout at 1.36 while we may see another test of this level, as stated in my fundamental section I believe the recent news is bullish for DXY/USD and bearish for CAD so i believe it will uphold USD/CAD at 1.365 support before a push higher next week to at least 1.38. I prefer to enter on the 2/4Hr charts using daily/weekly support, however this post is already extremely long for my first post, enjoy! Thank you to anyone who made it to the end of my idea on USD/CAD, I am gonna start posting more ideas mainly on USD/CAD and a few other major pairs as I believe this may help me organize my own thoughts. If anyone has any suggestions or different opinions let me know in the reply section. Stay safe trading and always manage your risk. I am not a financial advisor please do your own research. this is only meant to share my perspective and is in no way guaranteed to be correct. As always anything can happen in the forex markets have a good day everyone! Longby Vayzee2
3rd Times The Ticket! - UCADHere I have USD/CAD on the Daily Chart! Price on UCAD has been Ranging between the Resistance Zone @ ( 1.3880 - 1.3804 ) & Support Zone @ ( 1.3223 - 1.3116 ) since Sept. 2022!!! Price revisited the Resistance Zone on Apr. 16th-17th and since has created a LOWER LOW with price finding a Minor Support Level @ ( 1.3647 - 1.3616 ) Suspecting Price may be creating a Descending Triangle, I am waiting for price to attempt 1 more High that will be the 3rd Test of the Falling Resistance in which I will be looking for Selling Opportunities down to the Support Zone @ ( 1.3223 - 1.3116 )! *I have suspected a 2nd Scenario where given the current Bullishness of Price Action since its visit at the Support Zone in late Dec. 2023, if price is unable to Break Below the Minor Support Level, we could see this Falling Resistance turned into Support to then move Higher!Shortby Novi_FibonacciUpdated 228
USDCAD: Free Trading Signal USDCAD - Classic bearish pattern - Our team expects retracement SUGGESTED TRADE: Swing Trade Sell USDCAD Entry - 1.3694 Stop - 1.3719 Take - 1.3654 Our Risk - 1% Start protection of your profits from lower levels ❤️ Please, support our work with like & comment! ❤️ Shortby UnitedSignals112