USDCAD 1D Timeframe ProjectionUSDCAD 1D Timeframe Projection
The market right now created a range and running inside the range.
I waiting to break above level for Buy.
CADUSD trade ideas
US dollar dips as Fed's Powell's dovish comments offset upbeat jFed's Powell says "significant progress" made on inflation
U.S. job openings rise in May -JOLTS report
ECB's Lagarde says euro zone is advanced on disinflation path
The dollar slipped on Tuesday in choppy trading after Federal Chair Jerome Powell struck a slightly dovish tone in his comments, suggesting that the U.S. central bank is more than likely to start its easing cycle later this year.
Powell, in a monetary policy conference in Portugal, said the U.S. economy has made significant progress on inflation as it gets back on the disinflationary path. His remarks were viewed as dovish, analysts said.
"Fed chair Jerome Powell let his dovish plumage show. In our view, he put a September rate cut firmly on the table by acknowledging 'significant progress' in bringing inflation down, and pointing to the 'two-sided risks' facing policymakers as labour markets begin to cool," said Karl Schamotta, chief market strategist at Corpay in Toronto.
CAD$ gains as economy shows 'more of a pulseThe Canadian dollar strengthened against its U.S. counterpart on Friday as domestic data showed the economy growing in both April and May, but the currency still posted its second straight quarterly decline.
The loonie
USDCAD
was trading 0.3% higher at 1.3665 to the U.S. dollar, or 73.18 U.S. cents, regaining some ground after it earlier touched its weakest level since June 18 at 1.3734.
For the month, the currency weakened 0.3% as the Bank of Canada became the first G7 central bank to cut interest rates, while it was down 0.9% for the second quarter.
Canada's gross domestic product increased 0.3% in April, matching market expectations, as growth rebounded in sectors including wholesale trade and manufacturing, while an advanced estimate showed the economy expanding a further 0.1% in May.
USDCAD ANALYSIS OVER H1 CHART.USDCAD Technical Analysis – 1 hour Timeframe
On the 1 hour chart, we can see that we have a downward trendline and the 61.8% Fibonacci retracement level adding some extra resistance to the 1.3680 level. This is the area where the sellers will keep on piling in from to position for a drop, while the buyers will want to see it failing to gain more conviction for an extension to the upside. The Horizontal ray define the average daily range for today.
Upcoming Catalysts
Today we get the latest US Jobless Claims figures, while on Friday we conclude the week with the Canadian GDP and the US PCE report.
USDCADUSD/CAD 1-Hour Analysis: Bullish Reversal Setup
Chart Overview:
This USD/CAD 1-hour chart analysis highlights a potential bullish reversal setup. The chart outlines key support and resistance levels, along with potential price action paths.
Key Points:
Trend Analysis:
The chart shows a series of lower highs (LH) and lower lows (LL), indicating a prior downtrend. However, the recent price action suggests a potential shift in momentum.
Support and Resistance Levels:
Support: A significant support zone is highlighted around the 1.36700 level, shown with a grey shaded box. This area has previously acted as resistance and is now expected to provide support.
Resistance: The resistance level to watch is around 1.37700, as indicated by the projected price path.
Bullish Reversal Signal:
The recent price action indicates a potential bullish reversal, with the price breaking above the previous lower high (LH). This suggests that the bearish momentum may be weakening.
Potential Price Path:
The analysis suggests a potential pullback towards the support zone around 1.36700, followed by a bullish continuation towards the resistance level around 1.37700.
The projected price path is indicated by the upward arrow, showing the expected move after a pullback.
Market Sentiment:
The overall sentiment is cautiously bullish given the potential reversal signal and the support zone holding. Traders should watch for confirmation of the reversal with higher lows (HL) and higher highs (HH).
Trading Plan:
Look for buying opportunities on pullbacks towards the support zone around 1.36700.
Consider placing stop-losses just below the support level to manage risk.
Target the resistance level around 1.37700 for potential take-profits.
This analysis suggests a potential bullish reversal for USD/CAD, with a buying opportunity on pullbacks towards the support zone. Traders should ensure proper risk management and stay updated with any external economic factors that may influence the price movement.
USDCAD MULTI TIME FRAME ANALYSISHello traders , here is the full multi time frame analysis for this pair, let me know in the comment section below if you have any questions , the entry will be taken only if all rules of the strategies will be satisfied. wait for more price action to develop before taking any position. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied.
🧠💡 Share your unique analysis, thoughts, and ideas in the comments section below. I'm excited to hear your perspective on this pair .
💭🔍 Don't hesitate to comment if you have any questions or queries regarding this analysis.
USD/CAD Analysis: Defensive Near 1.3650USD/CAD trades near 1.3655 ahead of Canadian CPI data. BoC Governor expects a soft landing, supporting CAD. Watch for a break below 1-hour OB for a move to 4-hour support OB. Key US GDP and PCE data this week may influence further moves.
Simple S/R Late uploadPrice tested the support zone for few times unable to break down. Price reversed to higher level. Might expect to reach the last swing high.
USDCAD MULTI TIME FRAME ANALYSISHello traders , here is the full multi time frame analysis for this pair, let me know in the comment section below if you have any questions , the entry will be taken only if all rules of the strategies will be satisfied. wait for more price action to develop before taking any position. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied.
🧠💡 Share your unique analysis, thoughts, and ideas in the comments section below. I'm excited to hear your perspective on this pair .
💭🔍 Don't hesitate to comment if you have any questions or queries regarding this analysis.
USDCAD ANALYSIS OVER H1 CHART.USD/CAD dips to about 1.3650 as a result of increased risk appetite and rising oil prices.
Following two days of advances, the USD/CAD pair declines, trading on Thursday during the Asian session at 1.3680. Following the release of conflicting economic data in the US, which stoked interest rate decrease rumors by the US Federal Reserve (Fed), the US Dollar (USD) suffered. On Friday, investors will be watching for the release of important US employment data, such as nonfarm payrolls and average hourly earnings.
The US dollar and the USD/CAD pair are weakened as a result of investors' negative opinion toward the Fed's rate drop. On Friday, investors will be watching for the release of important US employment data, such as nonfarm payrolls and average hourly earnings.
Looking for a good Selling Opportunity.
Market structure BullishWait for retest and then buy it.
Market looking bullish and Waiting for liquidity and then Swing trade will activate.
Buying zone 36300 - 36320.
USDCAD shortingDowntrend in daily and also in 1H.
Reversed(Again) in LTF, so took taking this trade.
cannot break the high and also reversed in LTF
D - LL
1H - LL(Box formation)
LTF - reversed from HH to LL
USDCAD - SHORT TRADESymbol - USDCAD
USDCAD is currently trading at 1.37360
I'm seeing a trading opportunity on buy side.
Buying USDCAD pair at CMP 1.37360
I will be adding more if 1.38000 comes & will hold with SL of 1.39000
Targets I'm expecting are 1.36200 - 1.35400 & beyond.
Disclaimer - Do not consider this as a buy/sell recommendation. I'm sharing my analysis & my trading position. You can track it for educational purposes. Thanks!
sell we wait for extreme ob and need choch in ltf
or
another setup idm ob mitigation move(choch req)
USDCAD 1hr Bearish Order Block | 1:10 Trade Almost Hi Traders
This Usdcad 1hr Bearish Order Block at this level we can see some Liquidity
Then Cad goes down. This is best trade because it's 1:10 trade.
Note - only for education Purpose..💯
Give like share and follow
USDCAD MULTI TIME FRAME ANALYSISHello traders , here is the full multi time frame analysis for this pair, let me know in the comment section below if you have any questions , the entry will be taken only if all rules of the strategies will be satisfied. wait for more price action to develop before taking any position. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied.
🧠💡 Share your unique analysis, thoughts, and ideas in the comments section below. I'm excited to hear your perspective on this pair .
💭🔍 Don't hesitate to comment if you have any questions or queries regarding this analysis.
USDCAD at a Crucial level.At 4hr TF the USDCAD is at 200EMA support, the short term trend has been into negative biased. At 1hr trading below 200 and the PA at 1hr and 4hr is continuing to be negative. Expectation is we might break 200 Ema at 4hr TF and test 1.3530 levels again.
USDCAD MULTI TIME FRAME ANALYSISHello traders , here is the full multi time frame analysis for this pair, let me know in the comment section below if you have any questions , the entry will be taken only if all rules of the strategies will be satisfied. wait for more price action to develop before taking any position. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied.
🧠💡 Share your unique analysis, thoughts, and ideas in the comments section below. I'm excited to hear your perspective on this pair .
💭🔍 Don't hesitate to comment if you have any questions or queries regarding this analysis.
Usdcad buy // long1:5 risk reward , bullish opportunity on usdcad
Tp and sl is marked at the chart
Hope this helps
Buy SideTill Breaks the Low of Previous Swing of 1.30920 it will bullish Structure DXY will Support this yet wait with the SL for the Targets to Achieve Lets Rock the New Year
Long Opportunity USDCAD is forming a corrective formation for a movement to the upside & has high possibility to reach at the target of 1.38992
