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U.S. Dollar / Canadian Dollar

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USDCAD bulls jostle with 1.3640-50 crucial resistance on BoC DayUSDCAD bulls struggle to keep the reins at a five-month high as markets await the all-important Bank of Canada (BoC) Interest Rate Decision and the US ISM Services PMI for August. That said, the nearly overbought RSI and impending bear cross on the MACD checks buyers as they attack a convergence of an 11-month-old descending resistance line and a horizontal region comprising multiple levels marked since late April, close to 1.3640-50. As a result, the pair’s upside appears difficult and hence needs a strong boost from the BoC, as well as US data, to cross the stated hurdle, which in turn could propel prices towards the yearly high marked in March around 1.3865. Following that, the late 2022 peak of 1.3980 and the 1.4000 psychological magnet will gain the market’s attention. Meanwhile, the USDCAD pullback may initially aim for the 38.2% Fibonacci retracement of August-October 2022 upside, near 1.3500, ahead of retesting the 200-DMA support of 1.3465. In a case where the Loonie pair remains bearish past 1.3465, the early July swing high of 1.3385 and the 61.8% Fibonacci retracement surrounding 1.3200, also known as the Golden Fibonacci ratio, will be on the seller’s radar. Finally, the yearly low marked in July around 1.3090 acts as the last battle point for the buyers, a break of which won’t hesitate to drag the pair below the 1.3000 psychological magnet. Overall, USDCAD remains bullish but may witness a pullback before the further upside, unless the BoC and US data offer surprises.
by MTradingGlobal
#usdcad short from 1.3620#usdcad broke the upward triangle and has the chance to test 1.3620 and then it has more tendency to drive downward move. In case due to market conditions if it breaks above 1.3630 then it has more movementum up, for now I'm supporting a short on USDCAD. If you like my idea, please like and share with your friends for more reach and to encourage me :) DM me if you come across any questions will discuss in brief about any currency pair technical analysis. #money #currency #inflation #trading #trader #trading #stockmarket #forextrader #forextrading #forex #stocks #stocktrading #options #optiontrading #money #cash #investor #investing #futures #eurusd #usdcad #gbpjpy #bipaforexacademy
Short
by BipaForexAcademy
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.
Long
by okako_trading
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.
Long
by okako_trading
USD/CAD Wave Analysis: Riding the Profit Wave 📈🌊 🤑 Hold tight for the USD/CAD profit ride! We're breaking down recent moves (1-2-3-4-5) and diving into the next big thing: correction wave vibes! Let's jump into Wave ABC and grab those gains! 💰 🔍 What's Hot: Wave Breakdown: Let's zoom in on USD/CAD moves, spilling the beans on that slick five-wave setup (12345). Get the lowdown on each wave's style and how they jam together for the big picture. Course Correction: Time to chat about the comeback waves. Scope out what's cooking in Wave ABC – levels, patterns, and when it might hit the scene. Cash Splash in Corrections: We're dishing on bagging profit during correction waves. See how to time your moves right for max moolah – nail those entries and exits. Riding the BC Wave: Dive into Wave BC, the sequel to correction moves. We're breaking down the players and factors that shape it, so you ride it like a pro for gains. Risk Ninja Moves: Master risk moves during corrections. Learn savvy tricks to protect your stash while raking in the dough. Tech Tools Rock: Check out tools and tricks to boost your USD/CAD game. Use them to back up your hunches and dial in your moves. Real Talk Tales: Dig into past USD/CAD waves. It's like getting wisdom from seasoned wave riders – peep the patterns, wins, and how it all went down. 📊💰 USD/CAD's in the spotlight, so get prepped for the profit rush! Correction wave (Wave ABC) is where the action's at, loaded with juicy potential wins. Stay sharp, trade bold, and get the scoop from our full-throttle analysis! (Note: Trading packs risks, and past glory doesn't promise future fortune. This is about learning the ropes, not financial advice. Do your homework and talk shop with money pros before making moves.) 🚀🤑
Short
by Greenfireforex