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U.S. Dollar / Canadian Dollar

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USDCAD Top of the Channel issues short-term sell signal.The USDCAD pair has been trading within a Channel Up since the 1D RSI Bullish Divergence started on the June 16 bottom and right now the price is approaching its top (Higher Highs trend-line) yet again. With the 1D MA50 (blue trend-line) acting as Support, we expect as short-term pull-back (at least) as long as the 1D candles close within the pattern. Our Target is 1.37715. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis. 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Short
by TradingShot
USD/CAD: Inverse Head & Shoulders Playing OutHello guys. The chart is showing a clear inverse head & shoulders pattern, which often signals a potential bullish reversal. Price is now pushing above the neckline, suggesting momentum is shifting to the upside. As long as buyers hold this breakout, there’s room for continuation toward the 1.3853 and 1.3868 resistance levels. Key Levels: Support: 1.3720 (pattern invalidation if broken) Breakout Zone: 1.3800–1.3820 (neckline retest area) Targets: 1.3853 → 1.3868
Long
by melikatrader94
8
USDCAD A Fall Expected! SELL! My dear friends, My technical analysis for USDCAD is below: The market is trading on 1.3881 pivot level. Bias - Bearish Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bearish continuation. Target - 1.3873 Recommended Stop Loss - 1.3886 About Used Indicators: A pivot point is a technical analysis indicator, or calculations, used to determine the overall trend of the market over different time frames. Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis. ——————————— WISH YOU ALL LUCK
Short
by AnabelSignals
1
USDCAD bullish continuation supported at 1.3795The USDCAD remains in a bullish trend, with recent price action showing signs of a corrective pullback within the broader uptrend. Support Zone: 1.3795 – a key level from previous consolidation. Price is currently testing or approaching this level. A bullish rebound from 1.3795 would confirm ongoing upside momentum, with potential targets at: 1.3890 – initial resistance 1.3920 – psychological and structural level 1.3945 – extended resistance on the longer-term chart Bearish Scenario: A confirmed break and daily close below 1.3795 would weaken the bullish outlook and suggest deeper downside risk toward: 1.3770 – minor support 1.3745 – stronger support and potential demand zone Outlook: Bullish bias remains intact while the USDCAD holds above 1.3795. A sustained break below this level could shift momentum to the downside in the short term. This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
by Trade Nation
USDCAD - price increase after correction. Bullish trendA reversal pattern is forming, indicating the emergence of limit resistance from bears. The pattern structure has been broken, and the price has entered the realization phase. As part of a downward rally, USDCAD may test 0.5 Fibonacci and return to the bullish trend. Scenario: The current aggressive decline may be halted by a strong support zone, which has several confirmations. A false breakdown and consolidation above 1.3831 - 1.3835 will confirm the bullish sentiment and may return the price to retest the resistance at 1.3879.
Long
by AndeWave
5
USDCAD Challenges the 1.3880 ResistanceUSDCAD is in a bullish breakout mode, holding firmly above 1.37 and breaking out from a one-month consolidation range. It is now testing the 1.3880 resistance. A clean hold above this level could confirm a breakout toward the 1.40 target — the projected completion of the current pattern. The 3-day RSI is trending above the neutral 50 level, reinforcing dollar strength. However, with key resistance in sight, A pullback below 1.3840 may revisit the 1.37 support, possibly triggering either a rebound or a deeper move back toward 1.36 and 1.35 (the 2025 lows). Key Events in Sight: - FOMC Minutes (today) - Fed Powell Speech (Friday) - Razan Hilal, CMT
by FOREX.com
USDCAD: Overbought Market & Pullback 🇺🇸🇨🇦 USDCAD looks overbought after a yesterday's bullish rally. The price reached a key daily resistance and I see a confirmed bearish breakout of a support line of a rising channel on an hourly time frame. I expect a retracement at least to 1.3864 support. ❤️Please, support my work with like, thank you!❤️ I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
Short
by VasilyTrader
1
USDCAD Monthly | Bullish Engulfing off Rising Trendline Support 📈 Chart Overview: USDCAD has shown strong respect for the rising trendline support since mid-2023. Price recently tapped into this trendline again, forming a bullish engulfing candle on the monthly timeframe, a powerful reversal signal. 🔑 Key Technicals: ✅ Rising Trendline Support has been tested multiple times and held. ✅ A Bullish Engulfing Candle confirms potential bullish momentum. ✅ Price rejected the Order Block close-level near 1.36074. ✅ Fair Value Gap (FVG) above price creates a magnet for liquidity. 🎯 Upside Targets (TP Levels): TP1: 1.40161 TP2: 1.41226 TP3: 1.42429 TP4: 1.44164 TP5: 1.45921 ⚠️ Invalidation: A monthly close below 1.36220 would weaken the bullish outlook and may indicate deeper downside. 📌 Trading Plan: Long bias as long as price respects the rising trendline. Scaling out profits at each TP level is recommended. 🔥 Conclusion: USDCAD is showing strong bullish reversal signs from a major trendline. With a clear bullish engulfing confirmation and multiple liquidity targets above, the pair looks set for a sustained move higher.
Long
by AmaWina
USD/CAD Continuation After Support at Prior Triangle ResistanceAs we move towards the Jackson Hole Economic Symposium later this week USD/CAD has set up as one of the cleaner pairs for USD-strength, and that's been a building backdrop for much of the past month and a half. Even as USD set a fresh three-year low on day one of Q3, USD/CAD held a higher-low, forming a bullish trendline. That trendline was in-play a couple weeks later, on July 23rd, helping to hold yet another higher-low. At that point, the ascending triangle formation was set and those are often approached with aim of bullish breakout, which took place a week later with some help from the FOMC meeting. WIth a fast reversal in DXY on August 1st, USD/CAD held up relatively well, showing support around that prior resistance of 1.3750 while only retracing 50% of the prior rally. As covered in these posts, that kept the pair as attractive for USD-strength, and even though we haven't seen much of that so far in August, USD/CAD has rallied to make another run at that August 1st high. As we go towards Jackson Hole this pair presents as one of the more attractive cases for USD-strength, if we do see Powell step back from the massive expectation for rate cuts to begin at the Fed's next meeting in a month. For levels - the next key point of resistance is around 1.3900 followed by a big spot at the 1.4000 handle. But, bigger picture, it's the 1.4151-1.4178 zone that stands out, as this resistance-turned-support hasn't yet been re-tested for resistance since the breakdown around 'Liberation day' in early-April. If we see a USD rally kick off and USD/CAD lead the way-higher, that becomes a point for reversal setups. - js
by FOREX.com