USDCAD trade ideas
USDCAD Long Bias AnalysisHey traders, here is the analysis for the USDCAD. If you guys like my analysis please hit like👍 and follow. Thanks. DISCLAIMER:- This is not financial advice.
USDCAD DAILY TECHNICAL ANALYSIS Trading Ideas-
Long positions above 1.3198 with targets at 1.3806 & 1.3976
Alternative scenario
If price goes down 1.3198 look for 1.2954 & 1.2736 as targets.
Supports and resistances
1.2954 & 1.2736
1.3806 & 1.3976
USDCAD Ascendric Triangle Wait for proper breakout or breakdown Yellow are Suppply zone aand blue are demand zone
Ascending triangle teases USDCAD bears ahead of BOC inflationUSDCAD portrays a bearish triangle formation after multiple rejections from the 1.3700 threshold. The sellers, however, await a clear downside break of the stated formation’s support, near 1.3590 by the press time, as well as the Bank of Canada inflation data. A clear break of the stated 1.3590 support, backed by upbeat BOC CPI, could quickly drag the quote to the 200-SMA level surrounding 1.3490-85. Following that, the 23.6% Fibonacci retracement level of the pair’s October-November fall, near 1.3400, could act as an intermediate halt during the south run aiming the theoretical target of 1.3270. In a case where the Loonie pair remains depressed below 1.3270, the previous monthly low, close to 1.3235, will gain the market’s attention.
Alternatively, USDCAD needs a successful clearance of the 1.3700 hurdle, as well as softer Canada inflation, to defy the bearish chart formation. In that case, the previous monthly top and 78.6% Fibonacci retracement level around 1.3810 will be in the spotlight. Should the Loonie pair remains firmer past 1.3810, the 1.3900 round figure and November’s high near 1.3975 could entertain buyers before highlighting the 1.4000 psychological magnet.
Overall, USDCAD bears are ready for entry as traders await the key data from Canada.
99% for a long trade. #USDCADAs per my analysis #usdcad will go for a long position. i am waiting for one more confirmation to enter a long trade.
USD/CAD DAILY ANALYSIS LONG BREAKOUTUSDCAD Has Been Given Trend line Breakout and Retest its Previous Support Which is draw in Chart .
Look For Buying opportunities Above 1.35772 and sustain above 1 hour candle ..
Long Stop loss = 70 pips
Selling Below 1.35221
Stop loss 70 pips
USDCAD Sell trade opportunitiesUSDCAD Sell trade opportunities
its overall sell trade is retracing from the major Resistance line and currently breakout short-term support it is a good opportunity to short trade here with good risk rewards
USDCAD has more upside to track but 1.3700 is the key hurdleUSDCAD grabbed the bull’s attention ever since it crossed a two-month-old descending resistance line, now support around 1.3500. The upside bias also takes clues from the firmer RSI and MACD. However, the 61.8% Fibonacci retracement level of the pair’s October-November downside, near 1.3695, appears a tough nut to crack for buyers. Also acting as an upside filter is the monthly high of 1.3700, a break of which could quickly propel the quote towards November’s peak surrounding 1.3805. It’s worth noting that the Loonie pair’s run-up beyond 1.3805 could aim for October’s high near 1.3980, as well as the 1.4000 psychological magnet.
Meanwhile, the 50% Fibonacci retracement level near 1.3600 restricts the USDCAD pair’s short-term downside ahead of highlighting the 1.3500 support confluence including the resistance-turned-support line from October and the 38.2% Fibonacci retracement level. Even if the pair declines below 1.3500, a convergence of 100-SMA and 200-SMA at 1.3485 appears strong support.
Overall, USDCAD is likely to rise further but the 1.3700 resistance challenges the bulls.
USDCAD Sell Curently usdcd given breakout so this trade is very dangerous for short but I am in Short BIAS from that Supply Zone
Usdcad short possible USDCAD SELL 1.35829
SL 1.37100
TP 1.32272
Trade based on pure price action levels open a sell trade and thanks Manpritfx later
USDCAD DAILY TECHNICAL ANALYSIS Trading Ideas-
Long positions above 1.3198 with targets at 1.3806 & 1.3976
Alternative scenario
If price goes down 1.3198 look for 1.2954 & 1.2735 as targets.
Supports and resistances
1.2954 & 1.2735
1.3806 & 1.3976
USDCAD signals further run-up towards 1.3800 ahead of BOCA clear upside break of the 50-DMA and a descending trend line from October’s peak keeps USDCAD bulls hopeful ahead of the Bank of Canada’s (BOC) interest rate hike announcement. That said, the Loonie pair’s upside towards the previous monthly top surrounding 1.3800 appears imminent. However, multiple hurdles near 1.3850 could challenge the quote’s additional north-run, a break of which will direct the buyers towards the yearly high marked in October surrounding 1.3980.
Alternatively, USDCAD pullback remains elusive unless the quote remains beyond the 50-DMA level near 1.3565. Also testing the bears is the aforementioned resistance line from October 13, now support near 1.3550. It’s worth noting that the three-week-old ascending support line, close to 1.3430, acts as an additional downside filter for the Loonie pair before directing the bears towards the 1.3230-25 horizontal support comprising July’s high and November’s low.
Overall, the USDCAD pair has already flashed a bullish signal before the BOC’s widely anticipated rate hike.
USDCAD Buy trade opportunitiesUSDCAD Buy trade opportunities
Its Overall Bullish trend its recently broken the resistance level and close above with good Bullish candle here is good opportunity to take a buy trade with good risk rewards
USDCAD mark down phase (1H cycle)half bat man pattern + 4H shifting down red vectors + 4H mark down divergence + pins to the high , and below 800/50 ema. It has complete 3 levels to the upside and a touch of 4h 800 ema is possible + DXY is in mark down phase which further increases the probability
BEARISH IDEA ON USDCAD H1 My USDCAD H1
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Bull flag keeps USDCAD buyers hopefulUSDCAD grinds lower inside a bullish chart pattern. That said, the 50-DMA hurdle surrounding 1.3570 guards the Loonie pair’s immediate upside before highlighting the flag’s upper line, around 1.3620. In a case where the quote rises past 1.3620, the odds favoring a run-up toward the monthly high of 1.3976 and then to the 1.4000 psychological magnet can’t be ruled out. Following that, the theoretical run-up challenging the previous peaks marked in 2020 and 2016, near 1.4670, could be expected.
Meanwhile, the 50% Fibonacci retracement level of June-October upside, near 1.3250, could restrict short-term USDCAD downside ahead of the tops marked in July and early September, near 1.3220 and 1.3210 in that order. Should the quote drops below 1.3210, the 1.3200 round figure will precede the stated flag’s bottom line, surrounding 1.3115, to challenge the pair’s further downside. It’s worth noting, however, that the bear’s dominance past 1.3115 won’t hesitate to recall August month’s low of 1.2727 to the chart.
Check USDCAD forecastHey guys,
I found one setup for sell usdcad. there is one unmitigated orderflow as well with inner order block. so it must be react on that zone.
Also currently price will take liquidity on inducement and it will sell from unmitigated order block.
Two zone will react at least 50-100 pips or more. take trade wisely.
Thanks.
USDCAD BEARISH IDEAH&S has been formed already and in our previous analysis we made this clear, again the neckline of the H&S was broken which we previously traded it on retest.
After this retest we expect the price it's low now however there were a raising trendline acting as support below after retest, if bears have the energy to push down then we'll reach the target of next support level of 2.30089.
The FED's pivot is underway and the interest rate hikes is expected to be halt my the FED, this will cause more weakness to greenback.
USDCAD DAILY TECHNICAL ANALYSIS Trading Ideas-
Short positions below 1.3562 with targets at 1.3204 & 1.2955
Alternative scenario
If price sustain above 1.3562 look for 1.3806 & 1.3976 as targets.
Supports and resistances
1.3204 & 1.2955
1.3806 & 1.3976
from monthly to m15 using smart money and retail baseWhat Is Price Action?
Price action is the movement of a security's price plotted over time. Price action forms the basis for all technical analyses of a stock, commodity or other asset charts.
Many short-term traders rely exclusively on price action and the formations and trends extrapolated from it to make trading decisions. Technical analysis as a practice is a derivative of price action since it uses past prices in calculations that can then be used to inform trading decisions.
KEY TAKEAWAYS
Price action generally refers to the changes of a security's price over time.
Different looks can be applied to a chart to make trends in price action more obvious for traders. This is especially true when analyzing data covering different time periods.
Technical analysis formations and chart patterns are derived from price action.
Technical analysis tools like moving averages are also calculated from price action and projected into the future to inform trades.
Though many use price action to forecast future prices, prior price action does not guarantee future results.
CADUSDI sell CADUSD because it break uptrend and makes a lower high and lower low.We saw a doji and good resistence at the entry point.
