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Usdcadlong

USDCAD BUY | Day Trading AnalysisHello Traders, here is the full analysis. The completed correction, hint at the continuation of growth. GOOD LUCK! Great BUY opportunity USDCAD I still did my best and this is the most likely count for me at the moment. Support the idea with like and follow my profile TO SEE MORE. Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 🤝 Patience is the If You Have Any Question, Feel Free To Ask 🤗 Just follow chart with idea and analysis and when you are ready come in THE GROVE | VIP GROUP, earn more and safe, wait for the signal at the right moment and make money with us💰
Long
by TheGrove
1
Trade idea: Canadian inflation data tomorrow On Tuesday, February 20, Canada will unveil the latest inflation data. It is anticipated that headline annual inflation will decrease to 3.2%, marking its first deceleration since October 2023, compared to December's figure of 3.4%. Bear in mind, the Bank of Canada's previously indicated that they expected inflation to persist near 3.5% until mid-2024. The forecasts obviously suggest a slight easing. Various commercial banks offer a range of forecasts too. ING predicts 3.1%, Wells Fargo anticipates 3.2%, National Bank Financial (NBF) estimates 3.3 to 3.4%, CIBC forecasts 3.3%, and Citi expects 3.4%. On the chart. the USDCAD faces challenges breaching the 1.3500 resistance line, but it currently hovers just above a supply zone and right on the threshold of its bullish trend line. The next potential targets are in the range of 1.3530 to 1.3550, with December high at 1.3620, just above this. It's worth noting that both Canada and the US observe bank holidays on Monday, which could lead to reduced trading volumes.
by BlackBull_Markets
USD/CAD LONG from 1.3473 USD/CAD has broken through the neckline of a W pattern and has the look of heading higher. The price is now above all significant EMA's that are now grouped on the H1 time frame and its the same story on the H4 time frame. With no significant news until tomorrow's US CPI numbers at 13:30 GMT , there shouldn't anything that would encourage USD/CAD BEARS so the WR1 pivot at 1.3530 looks a reasonable target though we're not likely to get there until well into tomorrow. STOP is under the recent lows 1.3449.
Long
by forextraplaces
4
USDCAD Resistance Third Attempt Hi Traders! There may be a break soon as USDCAD looks to test the 1.35440 resistance area for a third time. Here are the details: The price action looks bullish; the market swings are getting higher, and the 20 EMA support re-test has held. Our idea here is to buy market dips leading up to 1.35440 for a possible break above if the bullish momentum continues. The long-term target is around the 1.36269 area, as we expect some resistance there. Preferred Direction: Buy Technical Indicators: 20 EMA Please make sure to click on the like/boost button 🚀 as your support greatly helps. Trade safely and responsibly. BluetonaFX
Long
by BluetonaFX
USDCAD,🟢Possible scenarios (Read the caption) Well, as you can see the market structure is still bullish. Now there are two modes that I will explain. The first one, there is a strong demand zone that can hold the price and push it up. This demand zone is located at the 0.705 Fibonacci level which makes it more reliable. The second scenario is the price continues the retracement to the extreme bullish order block which grabbed the liquidity and created the FVG. The TPs of both scenarios are the same, the first TP can be the strong supply zone that we expect the bearish reaction on this zone and the final TP is the previous high. 💡Wait for the update! 🗓️29/01/2024 🔎 DYOR 💌It is my honor to share your comments with me💌
Long
by VahidTradingCR
3
USDCAD BUY | Day Trading AnalysisHello Traders, here is the full analysis. The completed correction, recovery and formation of a pre-breakout set-up hint at the continuation of growth. GOOD LUCK! Great BUY opportunity USDCAD I still did my best and this is the most likely count for me at the moment. Support the idea with like and follow my profile TO SEE MORE. Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 🤝 Patience is the If You Have Any Question, Feel Free To Ask 🤗 Just follow chart with idea and analysis and when you are ready come in THE GROVE | VIP GROUP, earn more and safe, wait for the signal at the right moment and make money with us💰
Long
by TheGrove
1
USDCAD → Bottom of Trading Range! Looking for Long Entry.USDCAD is at the bottom of a trading range and near the Weekly 200EMA which acted as good support in the last bull trend opportunity from July to October. Now that we're here, should we long? How do we trade this? 🤔 We almost have enough price action to justify a long entry. Longing now would be maximally risky because we don't have a good buy signal bar yet. You could enter now with the understanding that every time we've hit these levels since September 23, a long as been profitable. I prefer more confirmation and thus, more probability before entering a trade. I think we need at least a good strong buy signal closing in the 131.300 - 131.600 range. With this signal, we can enter a trade a 1:2 Risk/Reward Ratio to the top of the trend. Wait for a couple more Daily candles to show such support before longing. Until then, lets be patient on the sidelines! 💡 Trade Ideas 💡 Long Entry: 132.665 🟥 Stop Loss: 130.000 ✅ Take Profit: 138.000 ⚖️ Risk/Reward Ratio: 1:2 🔑 Key Takeaways 🔑 1. Trading Range after Bullish Price Action, Bias to Long. 2. Near Trading Range Support and Weekly 200EMA, Look for Entry. 3. Look for Test of Support before Entering a Trade. 4. Target 1:2 Risk/Reward, Stop Loss below 200EMA, Take Profit at Top of Range. 5. RSI at 39.00 and below Moving Average. Needs to Fall More before Long. 💰 Trading Tip 💰 Trends typically have three legs in either direction. Signals of a reversal include strong buy or sell bars with large wicks, higher highs and lower lows get weaker, and responses to the reverse direction get stronger. Confirmation lies with double and triple bottoms with a strong candle closing on or near its low/high. ⚠️ Risk Warning! ⚠️ Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk! Like 👍 and comment if you found this analysis useful!
Long
by TraderEngineering
USDCAD Trade IdeaThe USDCAD has reached a pivotal juncture,reaching into a critical resistance level. While the larger trend remains firmly bullish, I anticipate a temporary pullback before seeking an optimal entry point. 1D Balance Area: As you can see on the attached chart, price has formed a significant balance area on the daily timeframe at the accumulation phase. A Fibonacci retracement drawn from the low to the high reveals a confluence zone around the 61.8% level potentially offering a high-probability entry point for opportunistic longs. Note: This analysis is for educational purposes only, and I'm not dispensing financial advice. Always conduct your own due diligence before making any trading decisions.
Long
by fxtraderanthony
Symmetrical Triangle for a Long positionUSDCAD opened with Lower high and gave a big bearish candle on first day of the week, I was looking at different time frames and saw a symmetrical pattern on the one minute time frame (Using 15 minute to publish, analysis on 1 minute time frame), though I do not recommend using the one minute time frame at the opening but it was a sure bullish move that was coming. Took the trade with a small stop loss and TP at the size of the length of the triangle base, just above the slope of lower high and made a small profit to start the week. Where is USD moving in the coming week, what are the different factors that will effect its move? comment and share your experience.!! Cheers
Long
by KunalGaur10