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Canadian Dollar / U.S. Dollar

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Is the USDCAD Rally Overextended Into Key Resistance Levels?The USDCAD is currently testing a formidable resistance zone following a period of strong bullish momentum. The primary catalyst for this upward repricing has been a clear divergence in monetary policy. The Federal Reserve is maintaining its hawkish bias, supported by persistent U.S. inflation data, which provides underlying strength to the dollar. 🦅 Conversely, moderating CPI in Canada has allowed the Bank of Canada to adopt a more dovish tone, creating a fundamental headwind for the loonie. 🍁 From a technical standpoint, the rally appears overextended, with momentum indicators suggesting the pair is now in overbought territory. 🛑 We're observing signs of price exhaustion as it challenges this key multi-month resistance level. Institutional sentiment is consequently shifting towards caution. The key strategic question now is whether we see a confirmed breakout on significant volume or a mean reversion scenario. At these levels, the risk-reward profile for new long positions is becoming unfavorable without further confirmation. I'm monitoring for either a decisive close above this zone or for signs of a corrective pullback. Stay sharp.
by fxtraderanthony
USDCAD – Short-Term Bullish Trend Following Political NewsHello, it's great to be back with everyone. Today, the OANDA:USDCAD pair is in an interesting phase. After a strong rally, the price has corrected and, at the time of writing, the pair is trading around 1.385, finding support from the area marked on the chart. Recently, the news of U.S. President Donald Trump firing Fed Governor Lisa Cook has put light selling pressure on the Loonie. This event could strengthen the USD against the CAD as the market concerns the stability of U.S. politics and Fed policies, leading to a short-term bullish trend for USDCAD. Keep an eye on the key levels to look for suitable trading opportunities.
by Kevinn_Nguyen
LOONIE H4 | Bearish reversalUSD/CAD is rising towards the sell entry which is a pullback resistance that aligns with the 50% Fibonacci retracement and could reverse from this level to the take profit. Sell entry is at 1.3875, which is a pullback resistance that lines up with the 50% Fibonacci retracement. Stop loss is at 1.3941, which is a pullback resistance. Take profit is at 1.3793, which is an overlap support that aligns with the 61.8% Fibonacci retracement. 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 (tradu.com ): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 65% 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 (tradu.com ): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% 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 Global LLC (tradu.com ): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to Tradu (‘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 Tradu and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of Tradu or any form of personal or investment advice. Tradu neither endorses nor guarantees offerings of third-party speakers, nor is Tradu responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
Short
by Tradu
Potential bearish reversal?The Loonie (USD/CAD) is rising towards the pivot and could reverse to the 61.8% Fibonacci support. Pivot: 1.3875 1st Support: 1.3790 1st Resistance: 1.3942 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.
Short
by ICmarkets
Bullish bounce off?USD/CAD has bounced off the support leve which is a pullback support that lines up with the 50% Fibonacci retracement and could potentially rise from this leve to our take profit. Entry: 1.3815 Why we like it: There is a pullback support that lines up with the 50% Fibonacci retracement. Stop loss: 1.3752 Why we like it: There is a pullback support that is slightly below the 78.6% Fibonacci retracement. Take profit: 1.3917 Why we like it: There is a swing high resistance. Enjoying your TradingView experience? Review us! Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). 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 Everest Fortune Group.
Long
by VantageMarkets
USDCAD Heading Towards Important Resistance D1✏️The old USDCAD analysis strategy was correct when the uptrend returned to the pair. 1.399 is the target of BUY signals when this zone accumulates a lot of selling momentum. The Breakout zone of 1.375 is considered a strong support zone forming a wide price range of the pair. The trading strategy is focused on the two resistance and support zones above. 📉 Key Levels BUY trigger Strong support zone 1.375 SELL trigger Strong resistance zone 1.399 Leave your comments on the idea. I am happy to read your views.
by VHT_Trader
9
USDCAD Will Go Higher! Long! Here is our detailed technical review for USDCAD. Time Frame: 9h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is on a crucial zone of demand 1.383. The oversold market condition in a combination with key structure gives us a relatively strong bullish signal with goal 1.392 level. P.S We determine oversold/overbought condition with RSI indicator. When it drops below 30 - the market is considered to be oversold. When it bounces above 70 - the market is considered to be overbought. Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis. Like and subscribe and comment my ideas if you enjoy them!
Long
by SignalProvider
1
Technical Analysis: USDCAD Maintains Bearish PostureTechnical Analysis: USDCAD Maintains Bearish Posture The USDCAD currency pair is currently exhibiting a definitive bearish trend structure, signaling a period of sustained selling pressure and a prevailing downtrend. This technical landscape is characterized by a clear and consistent pattern of price action, where each successive peak (lower high) fails to exceed the previous one, and each subsequent trough (lower low) breaks beneath the last. This serial deterioration in price is the very definition of a bearish trend, indicating that sellers are in firm control and are consistently overwhelming any attempts by buyers to mount a significant recovery. The recent price action has provided a potent confirmation of this underlying weakness. The formation of a distinct bearish engulfing candle on the daily chart is a particularly telling technical signal. This candlestick pattern occurs when a period of tentative buying (a small bullish or green candle) is completely overwhelmed by a surge of selling in the next session (a large bearish or red candle), where the entire range of the previous day's price action is "engulfed." This pattern is widely interpreted as a sharp shift in momentum, demonstrating a decisive increase in selling pressure and often marking the resumption of the primary downtrend after a brief pause or pullback. Given the confluence of the established bearish trend structure and the recent bearish engulfing candlestick, the expectation is for the USDCAD pair to remain under pressure in the upcoming trading sessions. The path of least resistance appears firmly to the downside. Key Levels to Watch: Downside Target: The immediate bearish objective is projected towards the 1.35800 handle. This level represents a significant technical target and a potential profit-taking zone for sellers. A decisive break below this support could open the door for a further extension of the decline. Upside Resistance: Any near-term attempts at a bullish correction are likely to face formidable selling pressure around the 1.40200 level. This zone now acts as a key resistance barrier, a ceiling that would need to be convincingly broken to signal any potential invalidation of the current bearish outlook. For the downtrend to remain intact, the sequence of lower highs must continue, making this resistance a critical level for traders to monitor. In summary, the technical evidence strongly favors a continuation of the sell-off, with a defined target and a clear level that would be required to challenge the prevailing bearish narrative.
Short
by Brillant_Capital
USDCAD H4 | Falling towards overlap supportUSD/CAD is falling towards the buy entry which is an overlap support that is slightly below the 61.8% Fibonacci retracement and could bounce from this level to the upside. Buy entry is at 1.3788, which is an overlap support that is slightly below the 61.8% Fibonacci retracement. Stop loss is at 1.3753, which is a pullback support that is slightly below the 78.6% Fibonacci retracement. Take profit is at 1.3875, 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 (tradu.com ): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 65% 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 (tradu.com ): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% 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 Global LLC (tradu.com ): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to Tradu (‘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 Tradu and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of Tradu or any form of personal or investment advice. Tradu neither endorses nor guarantees offerings of third
Long
by Tradu