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U.S. Dollar / Canadian Dollar

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USDCAD stays directed towards 1.2480 key resistanceDespite failing to cross a convergence of the 200-SMA and a 50% Fibonacci retracement of June-August upside, the USDCAD pair remains above four-month-old horizontal support. Given the firmer RSI conditions, not overbought, the bullish momentum is likely to prevail for a while, which in turn can allow the pair buyers to cross the 1.2480 resistance confluence and challenge September’s low near 1.2495. Should the quote manage to cross the 1.2495 hurdle, also the 1.2500 threshold, the run-up to the 1.2600 round –figure can’t be ruled out. Alternatively, pullback moves may aim for the stated multi-day-old horizontal support near 1.2420, a break of which will direct the sellers towards a 61.8% Fibonacci retracement level of 1.2365. In a case where the USDCAD bears keep reins past 1.2365, October’s bottom surrounding 1.2285 will question further downside. To sump, the pair’s rebound has the momentum support and hence is capable of breaking the immediate barrier to the north.
Long
by MTradingGlobal
USDCAD Retracement LongLogic Prices tending to retrace upwards with good momentum All Levels Mentioned On Chart How to trade the setup? When the chart says Long or Short at particular level, Put a Stop Order at those levels, Levels are strict T1 : is Target 1 T2 : is Target 2 When you achieve your first target, book profits of 50% and shift the stops to the cost The term Catastrophe Stop, is a maximum movement of price that can happen in opposite direction of trade so that the setup remains valid, Its basically used, to give some breathing space to the trade, I may call for a recovery if the setup becomes invalid as the market progress. As we all know anything can happen in the market and we should respect that At Last, do your own analysis, before trading your money!
Long
by Ankit_1618
USDCAD Bearish Setup (Target Range 400 Pips)Pair Name : USDCAD TimeFrame : 4Hrs Direction : Short Type : Swing Target Range : 400 Pips Bearish Break : 1.25800 ------------------------------------------------------------------------- Neat and clean chart with clear setup, no junk on chart. ------------------------------------------------------------------------- If you like this idea, then smash like button and follow us for regular updates. ------------------------------------------------------------------------- Note:- Do you own due diligence before taking any trades. Thanks
Short
by AkhiPrajapati
USDCADDear traders, As I have been accustomed to in recent months and this time my technical analysis had an accuracy rate of over 95% and I will try to continue to keep this percentage as long as possible As i said in the last weeks...UC climbed again to the 1.24700 area, as I said last week, see where it had a very strong rejection, forming a range in this area! in the next period I will wait for a close for at least 1 day ... or over 1.24900 from where I will look for BUY until my final target 1.29 ... USDCAD rejected and closed above 1.24700 as I said in the last weeks and even if it rejects from the 1.26300 area and will force and the 1.24700 area I will continue to stay in BUY until the 1.29 area ... my final target! THIS WEEK...as I said in the last few months , USDCAD has reached my final target from where it rejected again in zone 1.24 as I said from here ... even if maybe it will test this area again ... I am waiting for it again reaches area 1.29 and from here ... 1.34 NOTE: Please, give a LIKE if you find this idea useful! GREAT ATTENTION: *This information is not a Financial Advice.
by BloomFX_SIGNALS
USDCAD bears eye another battle with 100-day EMAUSDCAD drops to the lowest level since September 10 during the six-day downtrend on early Tuesday. The Loonie pair’s failure to stay past the key resistances above 1.2800 joins a downward sloping RSI line to direct USDCAD towards a 100-day EMA level near 1.2540. However, the quote’s further weakness will be challenged by the 50% Fibonacci retracement level near 1.2475 and the late July lows close to 1.2420. Meanwhile, recovery moves may find multiple upside hurdles around 1.2700, a break of which will enable USDCAD buyers to re-confront the two crucial horizontal resistances near 1.2810 and 1.2830. While the pair bulls are likely to step back from 1.2830, their dominance past the same will not hesitate to challenge the yearly peak surrounding 1.2950. Overall, USDCAD remains bearish but the important EMA support questions the sellers.
Short
by MTradingGlobal