USDCAD Long Bulls takeover begins Now. Price will more likely than not, take the previous months high. Watch price action on Monday London session and catch the huge swing.Longby cyrille2541
USDCAD H1 - 2.5REntry: - Price surges strong to the downside - Entry setup SB after price touched ema and formed M. Exit: - Took 2.5R profit - Took profit into strengthShortby huypham250
Strifor || USDCAD-31/05/2024Preferred direction: SELL Comment: During the American session today we are expecting a lot of data, including one of the key indicators, namely Canada's GDP . Unlike other majors, the USDCAD currency pair has more chances to fall than to rise, although at the moment everything looks in favor of the American. It is best to consider the deal closer to the American session and we highlight two scenarios. It should be noted that since there is a high probability of volatility, it is better to consider both transactions at the same time, that is, you can gain a position gradually with an overall stop loss slightly above the level of 1.37438. Additional comments on this trade will be provided as situation changes. Follow us! Thank you for like and share your views!Shortby Viktor_strifor_analyst111
USDCAD short for target of 1:8 let's see what happen next reason is that on 1h time frame is's clear bearish so i short and 3 time rejection on lower time frame 15m it's a paper trade Shortby umeshusp220
Breakout - Pullback - Resumption1. Prices break support to the upside 2. Prices make a bearish pullback 3. Prices rebound upwards Conclusion: Bullish figure, continuation not impossibleLongby ForexGoldenBoy0
USDCAD Trying to break strong Lvl 1.36650FX:USDCAD I am looking for longs as price is creating demand on higher TF. BUT price is struggling to break resistance Lvl of 1.36650 and I am also seeing a H&S pattern on the 4HR TF. If H&S neckline break is successful it could potentially have price break through Daily OB for strong bearish move down to 1.3500. Let's see what happens. by RobertTMFXUpdated 1
Long setup H4 uptrend swing trade👋Hello Traders, Our 🖥️ AI system detected that there is an ICT Long setup in USDCAD for scalping. Please refer to the details Stop loss, FVG(Buy Zone),open for take profit. For more ideas, you are welcome to visit our profile in tradingview. Have a good day! Please give this post a like if you like this kind of simple idea, your feedback will bring our signal to next better level, thanks for support!Longby ICT_Trader_SB111
Trade Alert: USD/CAD Long PositionI've entered a long position on USD/CAD from 1.36280 with a target of 1.38900. Here's my rationale: Entry Point: 1.36280 Target: 1.38900 Reasoning: Technical Analysis: The pair has been trading within an upward trend, with higher highs and higher lows indicating bullish momentum. The current price seems to offer a favorable entry point within this trend. Fundamental Factors: Keep an eye on economic indicators and news events that may impact the USD and CAD. Factors such as interest rate differentials, economic data releases, and geopolitical developments can influence currency movements. Risk Management: I've set a stop-loss order to manage risk in case the trade moves against me. It's crucial to have a clear risk management strategy in place to protect capital. Disclaimer: Trading involves risk, and this post is not financial advice. Make sure to do your own research and consider your risk tolerance before entering any trade. Let's see how this trade plays out. Stay tuned for updates! Feel free to adjust the details according to your actual trade strategy and preferences!Longby nabeelbaroch0
USDCAD CHANNEL PLAYThe pair has been trading inside a falling channel. It is now near the channel support. If clear rejection happens, I'll look for short trades from this point. Please do your own analysis before placing any trades. Cheers and happy trading.Shortby FX_Wize110
usdcadThe Chart is printing a bullish trend with HH and HL .Its a Bullish Trend. The entry Point will be 1.367,the stop loss will be at 1.361 Longby Azeem2080
USDCAD is BullishPrice was in a downtrend, however bullish divergence appeared on 1H time frame with double bottom formation, indicating that bulls have taken control of the price. Moreover previous lower high was also successfully broken and a new higher high along with higher low was printed, this means that new highs are on the cards. Targets are mentioned on the chart. Longby Fahad-Rafique0
USDCADConsider entering a long trade if USD/CAD holds above 1.3550 and shows signs of a bullish reversal, such as a trendline breakout or bullish candlestick patterns. Stop-Loss: Place a stop-loss below the support level, around 1.3530, to limit potential losses. Take-Profit: Set a take-profit target at the next resistance levels, initially at 1.3660 and potentially extending to 1.3740 if the bullish momentum continues. Ensure proper position sizing to manage risk, not risking more than 1-2% of your trading capital on a single trade. Actively monitor the trade, and adjust the stop-loss to breakeven once the price moves significantly in your favor to lock in profits and minimize risk. A long trade in USD/CAD can be justified by combining technical indicators pointing to a potential bullish reversal with supportive fundamental factors. Continuous monitoring of economic data and market conditions is crucial to adapt to any changes promptly. This approach ensures a well-rounded and strategic entry into a long position. Longby TFXBR0
USDCADThe Chart is printing LHH And LL as its making Bearish trend with No Divergence Shortby Azeem2080
USDCAD WILL GO UP BUYManage SL during news time, intraday trade tp and sl mentioned not a financial adviceLongby ArehmanB0
USDCAD ShortPrice Action Day Trading H4 Bias: Reversed into bearish Broken H4 support level. Price has reversed from bullish movement. USD is expected to weaken due to bad economic news. CAD is stronger as the OIL price is doing well now. Price is expected to go lower. Setup: Short trade at broken horizontal level as price is extremely sensitive at that level with SL above the level. TP targeting D swing low. Shortby royschen070
USDCAD A SHARP BEARISH MOVE EXPECTEDThe USD CAD pair is expected to bounce to a level near Order Block and then show a sharp bearish move in the FVG region. The seasonality and fundamentals are also supporting the idea wherein USD is weak as compared to CAD. What are your views on this ?????Shortby NEXTIn_Financials0
USDCAD moving lower this week**Monthly Chart** USDCAD is moving within a large range between 1.30000 and 1.40000 level since Oct 2022 as per monthly chart range. **Weekly Chart** The pair is still moving within the range after creating a weekly key reversal around the relative equal highs. The obvious move is to downside at least to test demand zone around 1.32000 level. **Daily Chart** The expectation for this week is that USDCAD will push lower from previous swing high level. We need to see a pullback reaction before taking the price lower. Next target will be to break the previous swing low below 1.36000 level.Shortby PropSignals1
USDCAD: Shorting After Weekly Resistance Rejection (High-Risk Se The USDCAD has fallen back after encountering resistance on the weekly chart. This analysis explores the potential for a short trade, while emphasizing the inherent risk involved. Technical Analysis: Resistance Rejection: Price faced selling pressure at a key resistance level on the weekly timeframe. This suggests a potential shift in momentum towards the downside. Shorting Strategy (High Risk): Confirmation Optional (but recommended): While not strictly necessary for a short entry, confirmation from a bearish price pattern or a daily candle closing below support could strengthen the short thesis. Risk Management is Crucial: Given the high-risk nature of this setup, proper risk management is essential. Define clear entry, stop-loss (above resistance), and take-profit levels based on your strategy and risk tolerance. Important Considerations: Market Context: Fundamental factors and economic data releases can also influence price movements. Staying informed about events impacting the US and Canada can provide valuable context for your trade. Do Your Own Research (DYOR): This analysis provides a potential trade idea, but it's not a guaranteed outcome. Always conduct your own research and analysis before entering any trade. Remember: The forex market can be unpredictable. Shorting any currency pair carries significant risk. By combining this analysis with proper risk management and additional research, you can make informed trading decisions in the USDCAD market.Shortby OMGiTzREALHASSAN1
STRONG "HEADED" REVERSAL COOKING UP?? - UCADHere I have USD/CAD on the 1 Hr Chart!! Price attempted a BULLISH BREAK of the Falling Resistance but was quickly halted and retuned to the Low created before the MASSIVE PUMP! Now on closer examination, price seems to have a underlaying Reversal Pattern beginning to take "Face". A HEAD AND SHOULDERS PATTERN!! Now with our "Neckline" @ 1.36567 being confirmed after the formation of the First Shoulder and Head, we can expect to see 1 last attempt at a HIGH!! This HIGH I believe will be at the Same level as the First Shoulder, forming the Second, which will be CONFIRMATION OF PATTERN!! Then, upon arrival back at the Neckline, we will be looking for SELLING OPPORTUNITIES!! **IF Price BREAKS & CLOSES ABOVE the First Shoulder @ 1.36984, Pattern is INVALIDATED!! First Profit Target Zone will be at the SUPPORT ZONE @ ( 1.3627 - 1.3600 ) RangeShortby Novi_FibonacciUpdated 1
Key Canadian trading events this week On Friday, alongside the US PCE data release, Canada will publish its Q1 GDP growth figures. Earlier in the week, Canada will also release its producer prices data. Note that US markets will be closed on Monday for Memorial Day. According to the Royal Bank of Canada, the Canadian economy likely grew more quickly in Q1 2024 based on headline figures. However, this growth was still insufficient to keep pace with the surging population. Consequently, GDP per capita contracted for the seventh consecutive quarter. Speaking of the Royal Bank of Canada, they will also be reporting its earnings this week, along with other major Canadian banks. Tuesday, May 28 Earnings: Bank of Nova Scotia Wednesday, May 29 Earnings: Bank of Montreal, National Bank, EQB Inc. Thursday, May 30 Earnings: CIBC, Royal Bank of Canada Friday, May 31 8:30 a.m. Canada Q1 GDP Earnings: Laurentian Bank, Western Bank The USD/CAD ended its four-day winning streak on Friday, closing down by half a percent at approximately 1.3660. Declining crude oil prices had been putting pressure on the CAD until now. Buyers could step in around this level for a potential bounce back though. Additionally, the upcoming OPEC+ meeting on June 2 could influence this pair. Market participants are watching for potential output cut extensions by major producers to address global oversupply concerns and support prices, which might cause hesitation among USD/CAD buyers at the 1.3660 level. by BlackBull_Markets1
USDCAD Short Scenario!A head and shoulders pattern can be formed for USD/CAD, and I anticipate a sell opportunity for the pair from slightly above the trend line.Shortby Babakr1
USD/CADCertainly! Let's break down the concept of a double top pattern: Double Top Pattern Breakdown: 1. **Definition:** - A double top pattern is a technical analysis chart pattern that signals a potential reversal of an uptrend. It forms when the price of an asset reaches a peak (high), retraces, and then rallies again to a similar peak (or near it), before experiencing a subsequent decline. 2. **Formation:** - **First Peak:** The pattern begins with an uptrend, during which the price reaches a significant high (peak). - **Retracement:** Following the first peak, the price retraces or declines from that high, indicating a temporary pause or reversal in the uptrend. - **Second Peak:** After the retracement, the price rallies again, approaching or reaching a similar high as the first peak. - **Decline:** Subsequently, the price fails to break above the previous high and begins to decline, confirming the pattern. 3. **Key Characteristics:** - **Symmetry:** The two peaks should ideally be at a similar price level, forming a horizontal line (the "top" of the pattern). - **Volume:** Volume tends to decline during the formation of the pattern, signaling a lack of buying interest or weakening momentum. - **Neckline:** The line connecting the lows between the two peaks is known as the neckline. It acts as a support level, and a breakdown below this line confirms the pattern. 4. **Confirmation and Trading Strategies:** - **Breakdown Confirmation:** The pattern is confirmed when the price closes below the neckline, indicating a shift from an uptrend to a potential downtrend. - **Target:** The projected price target is often calculated by measuring the distance from the neckline to the highest peak and subtracting it from the neckline. - **Trading Strategies:** Traders may initiate short positions (or liquidate long positions) upon confirmation of the pattern, with stop-loss orders placed above the second peak. Additionally, some traders wait for a retest of the neckline as resistance before entering short positions. 5. **Example Scenario:** - Suppose a stock rallies from $50 to $70, experiences a retracement to $60, and then rallies again to $70 forming the second peak. If the price subsequently breaks below the neckline at $60, it confirms the double top pattern. The projected target could be calculated as $60 - ($70 - $60), resulting in a target of $50. 6. **Limitations and Considerations:** - **False Signals:** Not all double top patterns lead to significant reversals. Some patterns may fail, leading to false signals, especially in volatile markets. - **Volume Confirmation:** While declining volume is a characteristic of the pattern, traders should also look for volume confirmation upon the breakdown for stronger confirmation. - **Market Context:** Consideration of broader market trends and additional technical indicators can enhance the reliability of the pattern. Understanding the double top pattern and its formation can help traders identify potential trend reversals and make informed trading decisions in the financial markets. However, it's essential to use this pattern in conjunction with other technical analysis tools and consider the broader market context for increased reliability.Shortby B9A-88652-NisarAhmad0