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USDCAD trade ideas

Live Challenging Forex Market Analysis Buy USDCAD @ 1.21531Market Analysis Live Challenging Forex Market Analysis Buy USDCAD @ 1.21531 Buy 2 @ 1.21264 Target @ 1.22501 #stockmarket #USDCAD #forextrading Our Unique Features: ————————————————————— 1. Follow our 15 signals ….10% equity will increase in your account for sure. 2. We are not Trailing stop! or average the trades. 3. 2% Risk Management Per trade. 4. Risk vs Reward up to 1:7. Note: Trade signals would usually have a risk to reward ratio of 1:2. It means that even 2 out of 4 signals hits their SL marks, the other two would have closed with profit. This allows you to be good in overall pips profit. Signals are usually inter-day (Based on the daily candle) therefore, trades would usually have a holding time of an average minimum of 24 hours. Note: Everything works with Best money management. Note: Please leave comments for any query. Disclaimer: This is my trading experience, it is not an invite or recommendation to trade. Best Wishes Trading with tamil
by Tradingwithtamil
💡Don't miss the great buy opportunity in USDCAD Trading suggestion: ". There is a possibility of temporary retracement to the suggested support line (1.2124). . if so, traders can set orders based on Price Action and expect to reach short-term targets." Technical analysis: . USDCADis in a range bound, and the beginning of an uptrend is expected. . The price is above the 21-Day WEMA, which acts as a dynamic support. Take Profits: TP1= @ 1.22020 TP2= @ 1.22648 TP3= @ 1.23518 TP4= @ 1.24405 TP5= @ 1.25489 SL= Break below S2 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated!❤️ 💎 Want us to help you become a better Forex / Crypto trader? Now, It's your turn! Be sure to leave a comment; let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
Long
by ForecastCity_ME
6
USDCAD tease falling wedge breakout near multi-month lowUSDCAD reverses Friday’s losses inside a bullish chart pattern, falling wedge, on the daily play. However, buyers need a clear upside break of 1.2100, not to forget the previous support line from March 18 close to 1.2180, to retake controls. Following that, the USDCAD rally towards 50-DMA level near 1.2285 and then to the previous month’s top near 1.2350 can’t be ruled out. It’s worth noting that the RSI is gradually recovering from the oversold area and the bullish formation is near the lowest since May 2015, which in turn amplifies the breakout in favor of buyers, if sustained. Meanwhile, 1.2050 and 1.2030 can entertain USDCAD sellers ahead of testing them with the 1.2000 psychological magnet. Also likely to challenge the pair bears is the stated chart formation’s support line near 1.1990. During the quote’s further weakness below 1.1990, May 2015 lows near 1.1920 become the key as a clear breakdown of the same will make USDCAD vulnerable to slump towards March 2014 high near 1.1280.
Long
by MTradingGlobal
Markets eye US, Canadian job data The Canadian dollar is steady in Friday trade, after sustaining considerable losses a day earlier. In the North American session, USD/CAD is trading at 1.2118, up 0.11% on the day. The US dollar was broadly higher on Thursday, as the Fed surprised the markets when it announced that it will begin to scale back its portfolio. The Fed ended its purchase of corporate bonds in 2020, and will now gradually sell these assets. The Fed has taken pains to emphasise that this sale is not a monetary policy action, as it does not affect the purchase of government bonds. The latter is intended to improve economic conditions and keep borrowing costs at ultra-low levels. Still, this most recent move has boosted the US dollar, as it appears to signal a move towards tapering QE and potentially raising interest rates. More Fed members are coming out and publicly urging the Fed to hold a discussion about tapering, and this has investors keeping a sharp eye on inflation and employment figures, which could be instrumental in any Fed decision with regard to tapering. The market will quickly shift focus from the Fed to the US employment report (12:e30 GMT). The consensus stands at 644 thousand, which would be a strong acceleration from the April release of 266 thousand. However, the markets are well aware that recent forecasts for NFP have been wide of the mark, including the April reading, as the consensus was 990 thousand. This week's ADP Employment Report showed a gain of 978 thousand, crushing the estimate of 645 thousand. However, the APDP reading is not a reliable indication of how official nonfarm payrolls will perform. Canada will also release key job data (12:30 GMT), with the market expecting soft numbers. April was dismal, as the economy shed 207.1 thousand jobs. May is expected to show a small decline of 20.0 thousand. The unemployment rate is projected to edge up to 8.2%, down from 8.1% USD/CAD is putting pressure on resistance at 1.2137. This line was tested last week. This is followed by resistance at 1.2195. With the pair moving higher, 1.2025 has some breathing room as support. Below, there is support at 1.1971
by OANDA