USDCAD trade ideas
USDCAD INTRADAY downtrend resistance at 1.3750The USDCAD currency pair continues to exhibit a bearish sentiment, aligned with the broader downtrend. Recent price action suggests a corrective pullback is underway, testing previous resistance zones.
Key Resistance Level: 1.3750 — This marks a significant intraday consolidation area. A rejection at this level would reinforce bearish momentum.
Support Targets: If price fails to break above 1.3750 and turns lower, potential downside targets include:
1.3640 (near-term support)
1.3580 (intermediate support)
1.3530 (longer-term support)
On the bullish side, a confirmed breakout and daily close above 1.3750 would invalidate the current bearish bias. In that case, upside resistance levels to watch are:
1.3800 (psychological level)
1.3860 (major resistance zone)
Conclusion:
USDCAD remains technically bearish unless it achieves a sustained break above 1.3750. Traders should watch for a rejection at this key level to confirm further downside potential. A breakout above would shift the outlook to bullish, targeting higher resistance zones.
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
Buy ideaFalling wedge pattern, in a buy currently but could look to add further positions if the structure is broken where we could expect a further upwards climb. Let me know what you think! Comments and/or suggestions highly appreciated! :)
USD/CAD – 1H Chart: Trend: Bullish Reversal in PlayUSD/CAD – 1H Chart
Trend: Bullish Reversal in Play
Technical Confluence:
🔹 Harmonic Pattern: AB=CD
🔹 Chart Formation: Falling Wedge
🔹 Momentum Signal: Bullish Divergence Spotted
🚀 A strong confluence of bullish indicators is setting up a potential reversal on USD/CAD. The AB=CD harmonic pattern aligns with a classic falling wedge breakout, supported by visible bullish divergence on the momentum indicators — all pointing to upside potential.
📌 Trade Setup:
🔹 Entry (Buy Stop): 1.37076
🔹 Stop Loss (SL): 1.36309
🔹 Take Profit 1 (TP1): 1.37843
🔹 Take Profit 2 (TP2): 1.38610
🔹 Lot Size: 0.17
🔹 Risk/Reward: 1:1 and 1:2
🔹 Risk: $200 💸
🔹 Reward: Up to $300 💰
📊 This setup offers a clean entry with defined structure, favoring smart risk management. If price confirms the wedge breakout, we could see a sharp move to TP1 and possibly TP2.
⚠️ Always monitor price action around key levels and adjust stop-loss accordingly.
#USDCAD #ForexSetup #BullishReversal #FallingWedge #HarmonicPattern #ABCDPattern #TechnicalAnalysis #1HChart #ForexTrading #TradeSetup #PriceAction #RiskReward #DivergenceSignal #SmartTrading
USDCAD Short Opportunity Description :
USDCAD is setting up for a potential short — I’m watching closely for an upthrust into the highlighted zone to initiate the position. Here’s my current read:
🔍 Technical Breakdown:
1. Trendline Break
Previous bullish trendline broken with conviction. Market structure now vulnerable to bearish continuation.
2. Volume Spike with Selling Pressure
Notable increase in volume on bearish candles — suggests smart money exiting or early sellers stepping in.
3. Anticipating an Upthrust
Watching for price to sweep the highs around 1.3695–1.3700, fail to sustain, and drop back inside range.
This would provide a low-risk entry with tight stops above the highs and 5r+ down to 1.3652, possibly even lower.
📌 Trade Plan:
Entry Zone: 1.3695–1.3700 (after upthrust confirmation)
Stop: Above 1.3710
TP1: 1.3652 (structure low)
TP2: 1.3600 (extended target if momentum builds)
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🧠 Why This Setup?
This aligns with key principles I trade:
Trendline breaks often lead to retests followed by continuation.
Rising volume on the break is confirmation, not noise.
A failed breakout (upthrust) into previous supply zones is often the "last push" before price collapses.
Let me know if you're seeing something different. This is how I’m planning to attack the chart today.
USD/CAD 4-Hour Technical & Fundamental AnalysisUSD/CAD 4-Hour Technical & Fundamental Analysis
USD/CAD has dropped below a key support level, pressured by both technical and fundamental bearish drivers as the U.S. dollar weakens and the Canadian dollar gains strength. The 4-hour chart structure shows a potential distribution phase followed by a liquidity grab, signaling smart money manipulation before a possible continuation to the downside.
Price broke down below the minor support at 1.36800, triggering short entries. However, a sharp reversal followed, hunting stop-losses and liquidating early sellers. This false breakout indicates a manipulation phase, where price seeks liquidity before choosing direction.
If the price closes below 1.36700 with a solid 4H candle body, it confirms bearish intent and opens the door for a continuation down to the next key support, aligning with broader USD weakness and CAD strength.
📊 Trade Setup
📍 Area of Interest (AOI): 1.36700 (Sell on 4H candle close below)
🛡 Stop-Loss: 1.37310 (Above liquidity zone)
🎯 Take Profit: 1.34750 (Next minor support / 1:3 RR)
This setup capitalizes on institutional distribution, manipulation, and liquidity hunting behavior, providing a clear bearish roadmap.
Fundamental Outlook:
U.S. Dollar Weakness
Non-Farm Employment Change (June 6):
Actual: 139K vs Forecast: 126K | Previous: 147K
Slowing momentum in job growth hints at labor market softening, increasing the probability of a Fed rate pause.
Trade & Fiscal Pressure:
Reuters reports that 90% of FX strategists expect continued USD decline due to:
Expanding federal deficit
Unpredictable trade policy
Over $3.3 trillion added to national debt from tax cuts and stimulus packages
Canadian Dollar Strength
The CAD surged to an 8-month high (1.3665 on June 5), supported by:
Rebound in oil prices (Canada’s top export)
Optimism surrounding U.S.–China trade negotiations
A U.S. trade court blocking proposed tariffs, boosting risk sentiment
📌 Disclaimer:
This is not financial advice. Always wait for proper confirmation before executing trades. Manage risk wisely and trade what you see—not what you feel.
USDCAD weekly overviewHello Traders,
War in Persian Gulf could change the direction of this analysis. Any conflict in the Middle ease could make out two white zones be red and suitable for shot trades. in normal situation, only 1.37732 is prepared for long trades.
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The indicated levels are determined based on the most reaction points and the assumption of approximately equal distance between the zones.
Some of these points can also be confirmed by the mathematical intervals of Murray.
You can enter with/without confirmation. IF you want to take confirmation you can use LTF analysis, Spike move confirmation, Trend Strength confirmation and ETC.
SL could be placed below the zone or regarding the LTF swings.
TP is the next zone or the nearest moving S&R, which are median and borders of the drawn channels.
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Role of different zones:
GREEN: Just long trades allowed on them.
RED: Just Short trades allowed on them.
BLUE: both long and short trades allowed on them.
WHITE: No trades allowed on them! just use them as TP points
USD/CAD H4 AnalysisUSD/CAD H4
Momentum is to the downside on the 4 hour chart.
However, with higher lows on the MACD, look for price to pullback to the trendline in the new trading week and potentially to break above.
Always trade with a tested and profitable strategy alongside good risk management.
usd/cadas my last post if price level breaks 1.37 and retraces it self back to use the ristence as surport i would be looking to go long same risk to reward would be 1:2 this would be a long as the higher time frames shows the market is bullish
usd/cad1.365 is where i would like to enter on a long depending on where trhe market reacts to but should price hit this price level i would look to enter with a 1:2 risk to reward
USD/CAD As we keep moving upwards,more double bottoms will be activated and take profit levels will extend.Nice R/R
USDCAD WILL DELIVER BY FIREFX:USDCAD WeeklyTF and MontlyTF Buy analysis, Its surely going to be hit by the grace of God the Almighty.
USDCAD Buy- Go for short term buy then manage your trade
- potentially go higher or significant reversing to the upside
- Refine entry with smaller SL for better RR, if your strategy allow
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I’ll be sharing high-quality trade setups for a period time. No bullshit, no fluff, no complicated nonsense — just real, actionable forecast the algorithm is executing. If you’re struggling with trading and desperate for better results, follow my posts closely.
Check out my previously posted setups and forecasts — you’ll be amazed by the high accuracy of the results.
"I Found the Code. I Trust the Algo. Believe Me, That’s It."
USD CAD at weekly support likely to re bound from here Price is consolidating in a tight range after prior upward move → suggesting bullish accumulation. If price breaks above 1.3770, a rally toward 1.3820 is likely. However, a breakdown below 1.3680 could attract sellers toward 1.3620.
Usdcad Sellprice is bearish still on the 4hr tf and is in a 4hr supply zone. there are supplies across the lower tfs within the 4hr zone. there is a particular one on the 15m tf that is strong. looking to sell once price trades below last ll.
USDCAD SHORT TERM BULLISH CORRECTIONGenerally, the US Dollar is losing ground against major currencies. The decline is stemming from pending tariffs equilibrium and looming Fed rate cuts. On the USDCAD daily chart, the US Dollar is poised to decline further to the unmitigated zone. Once this demand zone is contacted we are likely to clearer price action direction on whether to buy or sell further. Our bias is a short term bullish market correction outlook once the unmitigated zone is contacted.
Usdcad This is another clean setup from the last signal we were expecting price to go down to de last support but for some reason I left early and we have price breaks the previous support and is now acting like a resistance so we are expecting price to retrace on that zone de we sell more
USD/CAD at a Turning PointTechnical Analysis: Signs of a Bottoming Out
USD/CAD’s technical picture is beginning to shift from bearish to cautiously bullish. Let’s start with what the daily chart is telling us. Over April, the pair’s decline started to stall around the 1.3780 – 1.3810 zone, which corresponds to a second support level (S2) on pivot point charts. In fact, 1.3780 has been identified by analysts as a “critical support”areaeconomies.com, and the market has thus far respected this floor. For roughly two weeks, prices have been consolidating in a tight range just above this support, roughly between 1.378 and 1.388. This kind of sideways basing after a drop indicates that selling pressure is no longer as aggressive – the CAD hasn’t been able to push the USD convincingly below the support line around 1.38.
Several momentum indicators are aligning to suggest that the worst of the downtrend may be over:
MACD Crossover: The Moving Average Convergence Divergence (MACD) indicator, a favorite tool for gauging trend changes, is on the verge of a bullish crossover (i.e. the MACD line is crossing above the signal line). As of late April, daily MACD had already flipped to a “Buy” readingfortrade.com. A bullish crossover after a prolonged down-move implies the downward momentum is fading and buyers are starting to gain the upper hand. We’re also seeing the MACD histogram (which visualizes the difference between the MACD and its signal) tick up from deeply negative values toward the zero line, reinforcing the idea of a momentum reversal.
RSI Rising from Oversold: The Relative Strength Index (RSI), which measures the speed and change of price movements, dipped into oversold territory during the April sell-off. (Typically, an RSI reading below 30 is considered oversold and a possible sign of an overextended move.) In late April, USD/CAD’s daily RSI was hovering in the low 30sfxstreet.com. Now, in early May, the RSI has climbed upward, moving through the 40s and toward the mid-50s. This upward turn suggests that the prior bearish momentum is abating – in other words, sellers are running out of steam and buyers are gradually stepping in. Notably, the RSI made higher lows even as price made a lower low around 1.378, a classic bullish divergence hinting that the downtrend was losing strength.
Support and Price Action: Price action itself underscores the potential for a bottom. The 1.3800 area (pivot S2)has been tested multiple times and remains intactfxstreet.com. Each dip into the high-1.37s was met with buying interest, as evidenced by candles with lower wicks and quick recoveries back above 1.38. This demand zonearound 1.378–1.381 has effectively absorbed selling pressure. One trader on TradingView noted that “USD/CAD is bouncing off a major daily support level around 1.38100 after a strong bearish move. Price action shows early signs of bullish interest, with the potential for a correction toward the 50-day Simple Moving Average.”tradingview.com. The fact that the pair is holding this support is crucial – it provides a clear line in the sand. As long as 1.3780 holds, the bullish thesis remains alive. A break below that would be a warning sign, but so far the floor has held firm.
Ichimoku Cloud and A Shift in Trend: The daily Ichimoku cloud on the chart (the colored cloud area representing support/resistance and trend) is still positioned above current prices – a legacy of the prior downtrend. However, the pair’s consolidation means it is no longer plunging deeper below the cloud; instead, it’s inching closer to the cloud’s base. Often, when a trend is about to reverse, we see price start testing the underside of the Ichimoku cloud or the baseline (Kijun-sen). While USD/CAD hasn’t broken out above the cloud yet, it’s noteworthy that the cloud ahead is thinning and flattening. A thinner cloud can be easier to break, and a flat Kijun line (baseline) around the 1.40–1.41 area could act like a magnet for price if bullish momentum kicks in. In short, the Ichimoku system is saying the trend is still technically bearish, but conditions are improving for a potential bullish breakif buyers can push the price into the cloud.
Another technical element worth mentioning is the moving averages. During the decline, USD/CAD stayed below short-term moving averages, which acted as resistance. Now we see price testing those moving averages from below. For instance, the 10-day exponential MA and 20-day MA lurk around 1.3870–1.3900 – right where the current consolidation top is. A break above 1.39 would not only clear this minor consolidation range but also put the price back above those moving averages, a bullish sign. Beyond there, the 50-day SMA (around the mid-1.41s) could be an initial target for a rebound. All in all, the technical setup is showing early glimmers of a reversal: a solid support base, momentum indicators flipping positive, and weakening bearish forces. This lays a technical foundation for the argument to go long USD/CAD.
Why This Could Be an Opportunity to Go Long USD/CAD
Bringing together the technical signals and the macro context, the case for a USD/CAD rebound is getting stronger. Here’s a quick recap of why early May 2025 may be an attractive entry point for USD/CAD longs (buying USD against CAD):
Rock-Solid Support: The pair has a concrete floor around 1.3780–1.3800 that has held firmly through multiple tests. This pivot support (S2) level has proven its strengthfxstreet.com, indicating significant buying interest at those lows. A strong support means downside risk can be well-defined (for example, one can place a stop-loss just below it in a trade scenario), and it often serves as a launchpad for rebounds when the broader trend shifts.
Momentum Shift to Bullish: Key momentum indicators are flipping in favor of USD momentum. The MACD on the daily chart has turned upward, signaling waning bearish momentum and a possible bullish crossover – a classic early reversal sign. Likewise, the RSI has risen out of oversold territoryfxstreet.com, showing that the prior selling momentum is exhausted. In fact, a short-term trading model as of Apr 29 showed multiple daily indicators (MACD, RSI, Stochastics) all giving “Buy” signals for USD/CADfortrade.com. When formerly pessimistic indicators start signaling “buy” in unison, it’s often a telltale sign of a trend ready to change direction.
Bullish Price Action Clues: Price is speaking volumes: higher lows are forming on intraday charts and the pair is making attempts to push higher within the recent range. We’ve observed bullish candlestick patterns like small daily dojis and hammers near the lows, reflecting indecision and failed attempts by sellers to break lower. This kind of consolidation after a drop often indicates that the next significant move could be up, especially given the momentum backdrop. Additionally, if USD/CAD breaks above the 1.3900 resistance (which is the upper bound of the consolidation and near the 10-day/20-day moving averagesfxstreet.com), it would mark the first higher-high in weeks – essentially confirming the short-term trend reversal.
USD Fundamentals Support a Rise: The U.S. dollar’s broader fundamentals are relatively robust. The Fed’s higher-for-longer stance (with only modest rate cuts expected later) keeps USD interest rates attractiveam.jpmorgan.com, and the U.S. economy has been outperforming many peers in growth, which has underpinned the USD’s strengtham.jpmorgan.com. This means any USD weakness narrative might have been overdone – if traders realize the Fed won’t ease as much as hoped, USD could get a second wind. A stable or rising USD on the global stage directly benefits a long USD/CAD position.
Canadian Headwinds (Oil & Risk): The Canadian dollar, in contrast, faces a few headwinds. Commodity support is lacking – with oil prices recently in the doldrums at 4-year lows around $58investingnews.com, a key pillar of CAD strength has crumbled. Unless oil stages a dramatic comeback (which is not expected immediately, given only a moderate rebound to ~$68–$74 forecasted by the EIAinvestingnews.com), the CAD could struggle to maintain its recent strength. On top of that, if global risk appetite wavers, traders could rotate out of risk-sensitive currencies like CAD into safer havens. In short, the CAD may have enjoyed a good run, but the tables appear set to turn in favor of the USD.
Attractive Risk/Reward Setup: From a trading perspective, going long USD/CAD near current levels offers a compelling risk-to-reward scenario. The support at ~1.3780 provides a logical and tight risk cutoff – if the pair falls decisively below that, one can admit the bullish thesis was premature and exit. On the upside, even a retracement to mid-range resistance levels like 1.4000–1.4100 (around the 50-day MA or pivot resistance) would yield a solid gain relative to the risk. The trader who shared the long idea on USD/CAD set a target around 1.4140, just shy of major resistance, highlighting the potential for a move of several hundred pips off the lows if the reversal takes holdtradingview.com. The combination of well-defined support, improving indicators, and room overhead for a bounce means the odds are tilted that a long position could be rewarded.
Of course, no trade or investment is guaranteed – and one must always stay vigilant. If USD/CAD were to close below ~1.3780 support, it would call into question the bullish setup and could open the door to further downside (perhaps another leg down to the mid-1.37 or even low 1.36 area in a bearish scenario). But as things stand, the evidence leans bullish, and the reward potential outweighs the remaining downside risk, in our view.
SELL ON THE USD/CAD?The price has broken the upward trendline, going downwards, after it ranged for a while near the upward trendline which seems to be a previous resistance zone. I believe it might continue to go down as there are no much buyers since the market hit the peak and went down. I think it might go down to 1.34120 i dont know.
USDCAD ahead of BoC rate decision capped at 1.3840Today’s key focus is on the Bank of Canada’s interest rate decision. Markets will react to signs of inflation, growth, or central bank policy shifts.
Q1 Labor Productivity: Tracks efficiency of Canadian workers—important for inflation outlook.
Bank of Canada Rate Decision: Expected to keep rates at 2.75% due to sticky inflation, even as the economy slows.
Key Support and Resistance Levels
Resistance Level 1: 1.3840
Resistance Level 2: 1.3940
Resistance Level 3: 1.4020
Support Level 1: 1.3660
Support Level 2: 1.3580
Support Level 3: 1.3500
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
The Day AheadKey Economic Events – Wednesday, June 4, 2025
🇺🇸 U.S.
ADP Jobs Report (May): A preview of private job growth; markets watch this ahead of Friday's official jobs report.
ISM Services PMI (May): Measures health of the U.S. services sector. A reading above 50 = growth.
Fed Speakers: Bostic and Cook will speak—markets listen for interest rate hints.
Beige Book: Fed’s regional economic summary, useful for understanding business trends.
🇬🇧 UK
Official Reserves (May): Change in the UK’s foreign reserves—can hint at FX market activity or interventions.
🇮🇹 Italy
Services PMI (May): Shows whether the Italian services sector is expanding or shrinking.
🇨🇦 Canada
Q1 Labor Productivity: Tracks efficiency of Canadian workers—important for inflation outlook.
Bank of Canada Rate Decision: Expected to keep rates at 2.75% due to sticky inflation, even as the economy slows.
Summary:
Today’s key focus is on U.S. jobs and services data, the Fed’s tone, and the Bank of Canada’s interest rate decision. Markets will react to signs of inflation, growth, or central bank policy shifts.
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
trade viewthis is just a trade view
i am looking for trade from to the upper demand zone.
usd cad was falling and took support and started bouncing.
if usd gains strength then this trade can give you good return
usdcad buy tradeThe Relative Strength Index (RSI) is showing an upward trend, indicating increasing momentum. Additionally, the Moving Average Convergence Divergence (MACD) is showing a bullish crossover, further supporting the potential for an upward move.
