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U.S. Dollar / Canadian Dollar

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USDCAD trade ideas

Falling towards overlap support?The Loonie is falling towards the pivot which has been identified as an overlap support and could bounce to the 1st resistance which aligns with the 38.2% Fibonacci retracement. Pivot: 1.3595 1st Support: 1.3434 1st Resistance: 1.3990 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Long
by ICmarkets
1
Bullish rise?USD/CAD is reacting off the resistance level which is a pullback resistance and could potentially rise from this level to our take profit. Entry: 1.3691 Why we like it: There is a pullback resistance level. Stop loss: 1.365 Why we like it: There is a pullback support level. Take profit: 1.3742 Why we like it: There is a pullback resistance level. Enjoying your TradingView experience? Review us! Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Long
by VantageMarkets
USDCAD WILL DELIVER BY FIREThe USD/CAD trended lower in a volatile manner this week, declining 0.29% on a weekly basis, reflecting the relative resilience of the Canadian dollar supported by the Bank of Canada's (BoC) policy and economic data. The BoC maintained its interest rate at 2.75%, in line with market expectations. The BoC's concerns about Trump's tariff policies mirror the widespread anxieties among global central banks regarding the impact of trade wars. The central bank is likely to remain on hold in the short term to observe the effects of trade policies. If employment data turns out to be robust, the Canadian dollar may gain further support. Humans need to breathe, and perfect trading is like breathing—maintaining flexibility without needing to trade every market swing. The secret to profitable trading lies in implementing simple rules: repeating simple tasks consistently and enforcing them strictly over the long term.
Long
by Ashbur
2
USDCAD Under PressureSeveral negative data points were released this week for the US dollar, led by the ADP Non-Farm Employment Change, which posted its lowest reading since March 2023 at just 37K. Additionally, the Non-Manufacturing PMI fell below the key 50 level, recording 49.9. These readings add further downside pressure on the US dollar. On the other hand, the Bank of Canada kept interest rates steady at 2.75%. Technical Outlook on the Daily Chart The US Dollar against the Canadian Dollar (USDCAD) is trading in a general downtrend, forming lower highs and lower lows, confirming the bearish momentum. Traders should monitor any corrective rise toward the 1.38164 level as a potential opportunity to continue the downtrend and target 1.36015. However, a break and daily candle close above 1.38611 would invalidate the bearish scenario. Note Markets are anticipating the US and Canadian employment data due on Friday, June 6, 2025. Significant volatility is expected upon their release, especially for the USDCAD pair.
by CFI
USDCAD SHORT FORECAST Q2 W24 D10 Y25🔥👀USDCAD SHORT FORECAST Q2 W24 D10 Y25 TECHNICAL HOTPICK ! 💥💥 Professional Risk Managers👋 Welcome back to another FRGNT chart update📈 Diving into some Forex setups using predominantly higher time frame order blocks alongside confirmation breaks of structure. 💡Here are some trade confluences📝 ✅4H order block rejection ✅HTF 50 EMA ✅Intraday bearish breaks of structure to be identified ✅15’ order block identified 🔑 Remember, to participate in trading comes always with a degree of risk, therefore as professional risk managers it remains vital that we stick to our risk management plan as well as our trading strategies. 📈The rest, we leave to the balance of probabilities. 💡Fail to plan. Plan to fail. 🏆It has always been that simple. ❤️Good luck with your trading journey, I shall see you at the very top. 🎯Trade consistent, FRGNT X
Short
by JCFRGNT
UCAD Bulls Look for 3rd Test After Sept. '24 Highs TouchOANDA:USDCAD Bulls were able to find support at the Sept. 2024 Highs after having traveled down a Falling Support for the past 2 months! Now we see Bulls pushing price higher creating a Rising Support with 2 tests having been successful and currently coming down for a 3rd test! Now Price has already broken a Previous Level of Structure which was a Past Resistance on June 4th. This level also lands right at the 34 EMA and based on the Bollinger Bands, this test will also be a Mean Reversion where Price after having traveled in one direction will revert back to the mean of the Bollinger Bands for Continuation, which in this case will be Bullish! After the 2nd Test of the Rising Support, we can see a Massive amount of Volume enters. Price also is trading Above the 50 on the RSI and is currently coming down to test that level. I am looking for Price to test the 1.3683 area and if Price shows support for a 3rd Test, this will be a great opportunity for Long Positions! Fundamentally, USD will be bombarded heavy news being CPI numbers with analysts forecasting a .2% Increase in Inflation! Also PPI, Unemployment Claims and Prelim UoM Consumer Sentiment & Inflation Expectations.
Long
by Novi_Fibonacci
USDCAD POTENTIAL LONG OPPORTUNITY...HISTORY REPEATS ITSELFHey hey TradingView fam! It has been a minute (more like months lol) since I've done a post on here for you guys so just wanted to come on and drop an potential swing trade opportunity I see on the USDCAD currency pair! So let's get straight to it OK so it is pretty straight forward (at least in my eyes) but as you can see on the chart USDCAD is coming into a weekly demand zone. IF you are unfamiliar with what a "demand zone" is it is actually very simple. Think of it this way...a buyer zone/area. Literally simple as that. It is a previous zone that a buyer was interested in before. How do we know that? One of the most incredible thing about the charts is that it is like a receipt. It shows the transactions that have taken place. SO...when we look left back @ the 1.3600 price handle we can see that there was aggressive buying that took place here. How do we know? THE CHART LITERALLY ROSE/SKYROCKETED FROM THIS LEVEL. Ever heard of the phrase history repeats itself? It is ESPECIALLY true in the markets! OK so hopefully you guys got some nuggets from this post was more of a psychological breakdown than anything but truly want to help those of you who may see the charts as this complicated phenomena to realize that it is actually so so simple. And my main goal is to make trading simple again. Love & appreciate you all! Thanks for tuning in! If you found some value in this please boost this post & follow my page for accurate analysis and simple trading! Cheers!
Long
by JosePips
USDCAD - Short trade continuationWas triggered in to this on Friday As we can see we had a pool of liquidity to the left. We then had the news release of NFP. We were tagged in and then now we are looking to take price to the previous structure lows. As you can also see we took a lovely trade last week on USDCAD to the downside. I am still holding 0.5% of that position alongside the current one we have just been tagged into. Very nice potential for continuation to the downside. If you have any questions for me give me a message
Short
by BenFxLDN
3
USDCAD Will Explode! BUY! My dear followers, This is my opinion on the USDCAD next move: The asset is approaching an important pivot point 1.3654 Bias - Bullish Safe Stop Loss - 1.3603 Technical Indicators: Supper Trend generates a clear long signal while Pivot Point HL is currently determining the overall Bullish trend of the market. Goal - 1.3751 About Used Indicators: For more efficient signals, super-trend is used in combination with other indicators like Pivot Points. Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis. ——————————— WISH YOU ALL LUCK
Long
by AnabelSignals
1
USDCAD → One step away from distributionFX:USDCAD is recovering amid the dollar's growth. Unemployment news is ahead. A return of the price to the buying zone may support the currency pair. Against the backdrop of the dollar's growth, a change in the market phase is forming (unconfirmed). The price has stopped updating lows and is forming an eql, from which it is breaking out of the downtrend. The initial retest of liquidity at 1.366 may end in a correction. However, a quick retest and consolidation of the price above the level will confirm the change in sentiment Resistance levels: 1.3686, 1.3732 Support levels: 1.3675, 1.366 Despite the fact that the price broke the downward resistance, the currency pair is still under pressure from sellers who are waiting for the price to fall from 1.3686. A breakout, a change in market sentiment to bullish, and consolidation above 1.3675-1.3686 will confirm readiness for a recovery. Zones of interest: eqh 1.3732 Best regards, R. Linda!
Long
by RLinda
6
UCAD Bears Ready to Break 2 Month Long Falling Support??OANDA:USDCAD has been supported by a Falling Support Trend line since August 14th and here soon Price could potentially give us a Bearish Break to that Trend line! Once a Breakout is validated, we could look for a Retest Set-Up for some Short Opportunities to take Price down to the Support Zone created by the August and September 2024 Lows. An interesting fact to point out is if you observe the reaction of Price when it tests the Falling Support, we can see Price arc and the following reactions arc smaller, suggesting Bulls are losing strength on the push off of the Falling Support! Price Action is being heavily driven by Fundamentals in the markets this week: -USD- ADP Non-Farm Employment - Previous 60K / Forecast 111K / Actual 37K ISM Services PMI - Previous 51.6 / Forecast 52 / Actual 49.9 ISM Manufacturing PMI - Previous 48.7 / Forecast 49.3 / Actual 48.5 ISM Manufacturing Prices - Previous 69.8 / Forecast 70.2 / Actual 48.5 Unemployment Claims - Previous 239K / Forecast 236K / Actual 247K *Average Hourly Earnings, Non-Farm Employment and Unemployment Rate are to be released tomorrow -CAD- BOC held Interest Rates @ 2.75% Ivey PMI - Previous 47.9 / Forecast 48.3 / Actual 48.9 *Employment Change and Unemployment are to be released tomorrow With BOC holding Interest Rates and the Federal Reserve possibly looking to cut rates because of a "softening labor market", this could fuel CAD to overcome the pair and put Bears in control to pull Prices lower! tradingview.sweetlogin.com
Short
by Novi_Fibonacci
USD/CAD..30M chart bearish flag pattern.Looking at the chart I'm provided, here's a quick technical breakdown: --- 📉 Chart Analysis Pair: Likely USDCAD (based on visible digits and style). Pattern: Bearish rising channel has broken down. Breakdown Confirmed: Price has clearly broken below the lower channel support, with bearish continuation signs. Ichimoku Cloud: Price has moved below the Kumo (cloud), which confirms downside momentum. Red Arrows & Levels: You've drawn a zigzag-style projection with two target zones marked. --- 🎯 Identified Target Levels (approximate) Based on your chart's drawing and current price (1.3710): 1. Target 1: Around 1.3660 2. Target 2: Around 1.3620 These correspond to the two red horizontal lines marked "TARGET" in your chart. --- ✅ Summary Sell Bias Active Target 1: 1.3660 Target 2: 1.3620 Invalidation (Stop Loss suggestion): Above 1.3745–1.3755 zone (back inside channel or Kumo) Would you like a more precise projection using Fibonacci levels or a cleaned-up chart version with these targets plotted clearly?
Short
by RSI_Trading_point
9