USDCAD LONGive been watching usdcad to potentionally short since last week because USDCAD found resistance its been refusing to break but now that it looks more bullish and looks to have found major support im looking for buys Long04:53by Bluesclues3650
USDCAD Lets see what happens with all the news I am currently in this trade as i entered a position yesterday USD time so will what for the reaction Longby edwardsdevon00
BoC Preview: No-Change Expected; Forward Guidance Eyed Market Pricing – Unlikely to Adjust Rates The Bank of Canada (BoC) is poised to update policy later today at 2:45 pm GMT+1. Markets are currently pricing around a 16% probability of a 25bp cut at the upcoming meeting, with June pricing in -20bps of easing and July fully pricing in a -25bp cut. Recent Macro Data The most recent data to be aware of heading into this event, of course, is Friday’s dismal jobs numbers for the month of March. The unemployment rate climbed north of 6.0%, up from 5.8% in February and comfortably surpassing the 5.9% median estimate. This marks the first time that the jobless rate was above 6.0% in a little more than two years. Also worth remembering is employment growth, which revealed a net loss of 2,200 jobs in March, vastly undershooting economists' expectations of a 25,000 gain in jobs and south of the 40,700 jobs gain in February. In terms of where we are regarding inflation, year-on-year CPI inflation slowed to 2.8% in the twelve months to February, down from 2.9% in January and lower than the projected 3.1% estimate. For the core measure, inflation also slowed to 2.1% over the same period, down from 2.4% in February. According to the BoC, ‘The target aims to keep total CPI inflation at the 2 per cent midpoint of a target range of 1 to 3 per cent over the medium term’. As you can see, inflation is fast approaching that mid-point target. CAD Ahead of the Event Assuming that the central bank does as the market expects and holds the Overnight Rate at 5.0%, this may trigger an immediate pop higher for the CAD, but it will unlikely be much to write home about. What will be important in this case is what is said (or not) in the accompanying Rate Statement and the Press Conference 45 minutes following the rate announcement. Ultimately, in light of recent inflation data softening and the broad miss on employment, markets will be looking for dovish hints at this point, which may weigh on any initial upside from a hold decision. A 25bp cut, on the other hand, will weigh heavily on the CAD and underpin major currency pairs such as the USD/CAD and crosses like the EUR/CAD, for example. The FP Markets Research Team have noted that the USD/CAD has been rangebound since the beginning of 2016, with a more local range emerging on the monthly scale from October 2022 between CAD1.3244 and CAD1.3818. As you can see, there is limited support or resistance in play on the monthly chart as we write. The daily chart, on the other hand, has support from CAD1.3388 and CAD1.3661 in view. What may also be of interest is the pairing has continued to test the mettle of the underside of a breached rising wedge pattern since breaking lower at the beginning of March (taken from the low of CAD1.3366). With this, the area between daily resistance at CAD1.3661 and the underside of the breached rising wedge could be a resistance zone to keep an eye on heading into today’s event. DISCLAIMER: The information contained in this material is intended for general advice only. It does not take into account your investment objectives, financial situation or particular needs. FP Markets has made every effort to ensure the accuracy of the information as at the date of publication. FP Markets does not give any warranty or representation as to the material. Examples included in this material are for illustrative purposes only. To the extent permitted by law, FP Markets and its employees shall not be liable for any loss or damage arising in any way (including by way of negligence) from or in connection with any information provided in or omitted from this material. Features of the FP Markets products including applicable fees and charges are outlined in the Product Disclosure Statements available from FP Markets website, www.fpmarkets.com and should be considered before deciding to deal in those products. Derivatives can be risky; losses can exceed your initial payment. FP Markets recommends that you seek independent advice. First Prudential Markets Pty Ltd trading as FP Markets ABN 16 112 600 281, Australian Financial Services License Number 286354. by FPMarkets0
USDCAD SELL## Price Action Analysis of USDCAD (Based on Provided Image) This analysis utilizes price action alone, focusing solely on the visible marks within the provided image of a USDCAD price chart (assumed timeframe: 4 hours). **Observations:** * **Upward Trend:** The price exhibits a recent uptrend characterized by a series of higher highs and higher lows over the past few hours. This suggests a potential continuation of bullish momentum. * **Price Consolidation:** The price appears to be consolidating near the upper end of its recent trading range. This consolidation could be a precursor to a breakout or a pause in the uptrend. * **Potential Breakout:** The proximity of the price to the upper resistance level hints at a possibility of a bullish breakout. **Key Levels:** * **Entry Price (1.35010):** This level represents the potential entry point for a long trade. * **Nearest Resistance:** Identify the closest identifiable resistance level above the current price. This could be a previous high point or a horizontal line where the price has encountered selling pressure in the past. **Confirmation:** * **Breakout Above Resistance:** A decisive break above the nearest resistance level would provide a strong bullish confirmation for the trade. This breakout should ideally be accompanied by an increase in trading volume to signify increased buying activity. **Risk Management:** * **Stop-Loss Placement:** A stop-loss order should be placed below a critical support level, such as a recent low point or a swing low within the uptrend, to limit potential losses if the price reverses direction. **Limitations:** * **Absence of Indicators:** Without the use of technical indicators, gauging overbought/oversold conditions or momentum becomes more challenging. * **Timeframe Dependence:** The timeframe of the chart significantly impacts the analysis. A longer timeframe might reveal a different context for the current price movement. **Disclaimer:** This analysis serves for informational purposes only and should not be considered financial advice. It's crucial to conduct your own research before making any trading decisions. Longby keyshaard0
USDCAD SELL | Idea Trading AnalysisHello Traders, here is the full analysis. I think we can soon see more fall from this range! GOOD LUCK! Great SELL 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💰Shortby TheGrove224
possibility of uptrend It is expected that the price will fluctuate in the current support range and then we will see the start of an uptrend. By passing the resistance range and the previous ceiling, it will be possible to continue the upward trend. If the price crosses the 78.6% level, the upward trend will be invalidatedLongby STPFOREX1
USDCAD POTENTIAL BEARISH CONTINUATION After the 5 waves moving down on the daily from 1 NOV 23 - 29 DEC 2023, we expected a move up for a 61.8 retracement. Unfortunately price missed 9 points from it and reacted going down while respecting the channel. After bouncing on the bottom of the channel the pair is now backing up and I expect for a continuation from the supply level and the 4H liquidity as illustrated from the chart.Shortby Kingelly18Updated 110
USDCAD possible ideaAfter price broke structure with momentum, it was an indication it was still maintaining its overall bullish trend. It preceded to retrace and form internal range liquidity above our establish golden zone that it could use to fuel its move to take out the latest weak high and continue with the bullish trend.Longby BlackTygaTrades4410
Why I think UDSCAD Will Continue to SellHey Rich Friends, I am looking at UC for a potential sell, here is why: - Candles coming out of the supply zone. Already rejected - Candles starting to fall below the EMA. Wait for candle to close below EMA - STOCH facing down - MOM is facing down - TP will be below the previous low and SL will be above the previous high Let me know if you see something else! - Peace and Profits, ChaShortby MoneyMantraChaUpdated 7711
Why I Think USDCAD Will Buy This WeekHey Rich Friends, I think USDCAD will continue to buy, just looking at the technical indicators. - The market has already tapped into and rejected the demand the zone. - The STOCH is facing up, the blue line is above the orange line and it is looking to cross 50% - Candles are above the EMAs. Make sure you check the news also! I am in this trade for a buy but we will see how it goes! Happy Trading! - Peace and Profits, Cha Longby MoneyMantraChaUpdated 4
Why I think USDCAD Will Buy This Week...Technical Analysis Hey Rich Friends, I think USDCAD will continue to buy this week and here is what I am looking at: - The market has already resisted the previous demand zone - The previous candle was a bullish engulfing, confirming the buying trend - The 50 EMA (blue) has crossed about the 200 EMA(purple), confirming the buying trend - The STOCH is facing up, both lines are above 50 and the blue line is above the orange line. Signals to wait for: - Both lines of the STOCH to cross above 80 - Current candles close above 50 EMA (blue) Remember that this is only a technical analysis, so please check the news and reference other indicators on your chart. Good luck and Happy trading. Peace and Profits, Cha Longby MoneyMantraChaUpdated 229
Long on usdcadwe have seen USDCAD on bearish run for the past few days but that might change as we saw it break through a bearish channel, to the upside Which is resulting in bulls taking over, late see how it plays out , leave a comment on your thoughts. thank you.Longby simeonjohannes444
USD/CAD Is Flying Soon Make Sure To Be In This Trade the price has been moving in really nice waves around an uptrend line right now we are witnessing a third wave so we can enter buy trade very soonLong01:39by Forex_Wealth_Factory225
USDCAD next MovePair : USDCAD ( U.S Dollar / Canadian Dollar ) Description : Bullish Channel as an Corrective Pattern in Long Time Frame Break of Structure RSI - Divergence Completed " 12 " Impulsive Waves Demand Zoneby ForexDetective7
USDCAD BUY OPPORTUNITY ALERT!!Price bounced off the area of $1.35522 level and could provide a possible buy opportunity away from that zone. Target is at $1.36463 level (previous week high ). Technically, price formed a bullish wedge pattern. But price is yet to breakout of the wedge. Wait for confirmation in lower timeframe before entry!Longby Cartela2
USDCAD 09.04.2024Canadian Dollar and U.S. Dollar Data analysis and results Buy zones start at 1.34500 and sell at 1.37000, according to digital analysis by Hejaaa1
USDCAD - Already Over-Bought! Again...Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📈 USDCAD has been overall bullish , trading within the rising flat channel in blue. However , USDCAD is approaching the upper bound of the channel again acting as a non-horizontal resistance. Moreover, it is retesting a strong resistance zone at 1.362 - 1.365 marked in green. 🏹 Thus, the highlighted blue circle is a strong area to look for sell setups as it is the intersection of the green resistance and upper blue trendline. 📚 As per my trading style: As #USDCAD is around the blue circle zone, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...) 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Richby TheSignalystUpdated 2213
USDCAD: Thoughts and AnalysisToday's focus: USDCAD Pattern – Heavy Resistance Support – 1.3514, 1.3454 Resistance – 1.3602 Hi, traders; thanks for tuning in for today's update. Today, we are looking at USDCAD daily. What are we discussing and asking today after looking at USDCAD? Will current heavy resistance contnue to block buyers? Does price have enough momentum in its current bull channel? Will this week's data and news be enough of an influence to set off a new break lower or higher? Key news, US CPI, PPI, Fed meeting minutes. Canadian interest rate decision. Good trading.04:43by Eightcap1
How to trade a moving average and SMC that's how you make myThis is a proper entry of which if you apply it you always be in profit so if you applied well cuz we wait for there market to close on top of the moving averagee or below the moving averageShortby sibongokuhlezulu630
Potential bullish bounceUSD/CAD has made a bullish reaction off the pivot which has been identified as an overlap support; the bullish momentum could potentially carry it higher towards the 1st resistance. Pivot: 1.3571 1st Support: 1.3523 1st Resistance: 1.3611 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 ICmarkets2
Bearish Breakdown Watch: USD/CAD Aiming for SupportUSD/CAD SELL SETUP - 1 HOUR CHART Listen in, traders! Here’s our approach for a sell on USD/CAD: ✅ Entry: 1.35770 level on the 1-hour chart could be our cue to sell. ❌ SL: Set a stop loss above the recent consolidation highs around 1.35909 for a tight risk control. 🎯 TP 1: The first profit target is at the nearest support of 1.35589, where we might see some bounce-back. 🎯 TP 2: If the price continues to drop, our second target is at the next support level of 1.3540. We're playing off the bearish momentum and looking for continuation past the support. As always, risk management is crucial—don't risk more than a small percentage of your account on any trade. Wait for the breakdown before entry, and let's aim to capture that downside movement.Shortby SheenaL1
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 1.35800 which is an overlap support that aligns with the 38.2% Fibonacci retracement level. Stop loss is at 1.35400 which is a level that lies underneath a pullback support and the 50.0% Fibonacci retracement level. Take profit is at 1.36474 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. 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 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.Long03:03by FXCMUpdated 2
USDCAD 08/04/2024Weekly: -Bullish M pattern. -Inverse H&S pattern. Daily: -Inverse H&S pattern. -Impulse and correction pattern. 4H: -Inverse H&S pattern. -IC. -OB. Longby HANSFXTRADER2