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USDCAD Long Term buying Trading IdeaHello Traders In This Chart USDCAD HOURLY Forex Forecast By FOREX PLANET today USDCAD analysis 👆 🟢This Chart includes_ (USDCAD market update) 🟢What is The Next Opportunity on USDCAD Market 🟢how to Enter to the Valid Entry With Assurance Profit This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Charts
Long
by ForexPlanet20
USD/CAD Faces Resistance Above 1.35; CAD GainsThe CAD has recently shown appreciation against the USD, and there's a historical resistance for the USD/CAD pair breaching above the 1.35 mark. Short-term technical trends also favor the CAD, and the 1.3495/1.3500 zone is a significant support. Breaking this support could lead to a quick decline towards the 1.34 area. This, combined with recent economic data, suggests a potential short position. TRADE IDEA DETAILS CURRENCY PAIR: USD/CAD CURRENT TREND: Bearish for USD (Bullish for CAD) TRADE SIGNAL: SELL 👉ENTRY PRICE: 1.3495 ✅TAKE PROFIT: 1.3400 ❌STOP LOSS: 1.3525 TRADE PLAN: Enter a short position at the 1.3495 mark. Monitor the trade and adjust the stop loss to break-even once the price moves favorably by around 50% of the expected range. Watch out for any significant news events or economic data releases which might impact the USD/CAD pair. FINAL THOUGHTS: This trade idea is based on both technical and fundamental analysis. While CAD shows signs of strength, it's essential to monitor the trade closely due to potential volatility from external economic events or unexpected news. Always trade responsibly and never risk more than you can afford to lose.
Short
by RichDadph-FX
USDCAD A DECISIVE DECISION hello traders , it seems like usdcad has a very important decision to make either Break the bearish trendline and go up to the key support that i indicated or Reject from it and drop back to the bullish trendline for the buyers to regain some strenght the break out may be influenced by the fundamentals coming later this week to determine the fate of the dollar and the fate of the pair. this is just my humble opinion but yeah follow me its free i post to you amazing setups and updates every week.
by xAB777
USD/CAD Gains Strength Amid Key Economic Events, BoC and US ISMThe USD/CAD pair is trading near 1.3640, shrugging off bullish oil price trends. The Bank of Canada is expected to keep rates stable at 5.00%, while mixed U.S. economic data keeps the USD strong. Market focus is on the upcoming U.S. ISM Services PMI and BoC rate decision for clearer directional cues. TRADE IDEA DETAILS CURRENCY PAIR: USD/CAD CURRENT TREND: Bullish TRADE SIGNAL: Conditional Buy 👉ENTRY PRICE: 1.3670 ✅TAKE PROFIT: 1.3720 ❌STOP LOSS: 1.3620 ANALYSIS: The USD/CAD pair has shown resilience amid multiple economic variables, particularly favoring the USD. U.S. economic indicators remain strong despite recent factory orders data, and Fed Governor Waller's hawkish comments have bolstered the USD. The BoC is also likely to keep its rate unchanged, making the Canadian Dollar less appealing. TRADE PLAN: Enter a buy order only if USD/CAD crosses above 1.3670, confirming the break of technical resistance. Set a take profit order at 1.3720, aligning with the next resistance level. Place a stop loss at 1.3620 to mitigate potential downside risk. Monitor economic data releases like U.S. ISM Services PMI and BoC rate decision for potential market shifts. Execute the trade on a 1-hour timeframe for short-term analysis and trade management. FINAL THOUGHTS: Given the USD strength, mixed economic data, and anticipated BoC rate decision, a conditional buy signal seems most appropriate. However, traders should be cautious of sudden shifts due to upcoming data releases and geopolitical factors. It is imperative to stick to the trade plan, particularly the entry point and stop-loss mechanisms.
Long
by RichDadph-FX
1
USDCAD ____ DICEY BULLISH RALLY OPPORTUNITYHello Traders, USDCAD just traded into the daily demand order block and the expectation is that price should continue its bullishness. The expected rally is to take out near-term buy-side liquidity and hunt the weekly buy-side liquidity. I say this is dicey because the dollar is at a level where a shift from bullish to bearish can happen, but my speculation is that the dollar index still has some bullish steam left in it to continue the rally hence USDCAD rallies. I will be monitoring this pair to see a CHOCH on the 1-hour timeframe as well as the dollar index before taking any trade. Follow me for more updates like this. Cheers, Jabari
Long
by jabariofafrica
DeGRAM | USDCAD at strong resistanceUSDCAD made a false breakout of the ascending channel. It's consolidating around the psychological level at 1.36000.   The market is testing the strong resistance level on the D chart. It might pullback because we have five cinsequitive bullish weeks, so the market should retrace. We expect a false break of resistance, giving a sign of rejection. ------------------- Share your opinion in the comments and support the idea with like. Thanks for your support!
Short
by DeGRAM
7
USD/CAD Holds Ground Near 1.3500 Amid US Dollar RevivalThe USD/CAD pair is holding firm around 1.3500, despite weak US economic data for July. Awaiting insights from the Jackson Hole Symposium, the US Dollar Index continues to climb. Meanwhile, the Canadian Dollar is affected by falling oil prices. Scotiabank sees USD-bullish trends but cautions the currency is overbought. Key resistance and support levels are identified. TRADE IDEA DETAILS CURRENCY PAIR: USD/CAD CURRENT TREND: Bullish TRADE SIGNAL: Buy 👉ENTRY PRICE: 1.3520 ✅TAKE PROFIT: 1.3600 ❌STOP LOSS: 1.3490 ANALYSIS: The current trend for the USD/CAD pair is bullish, supported by the USD's rebound and Canadian Dollar's pressure due to declining oil prices. The support level of 1.3500 has proven strong, and the trend oscillators indicate a USD-bullish sentiment. FINAL THOUGHTS: This trade capitalizes on current bullish trends in the USD and pressures on the CAD due to oil price dynamics. The Jackson Hole Symposium and subsequent economic announcements should be closely monitored, as they may significantly impact the currency pair's movement. Attention to the overbought signals and resistance levels will be key to successful trading within this setup.
Long
by RichDadph-FX
USDCAD Long Term BUYING Trading IdeaHello Traders In This Chart USDCAD HOURLY Forex Forecast By FOREX PLANET today USDCAD analysis 👆 🟢This Chart includes_ (USDCAD market update) 🟢What is The Next Opportunity on USDCAD Market 🟢how to Enter to the Valid Entry With Assurance Profit This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Charts
Long
by ForexPlanet20
USD/CAD Surges Amid a Robust US Dollar and Softening Oil PricesThe USD/CAD pair witnessed a surge amid a resilient US Dollar and dropping oil prices. The Canadian Dollar was impacted by weak employment figures and the decline in oil prices, a crucial export product. Meanwhile, the US is bracing for persistent inflation, with headline and core CPI remaining steady. The financial landscape is further complicated by potential policy shifts by central banks. Both nations' economic health indicators paint a complex picture that drives the USD/CAD dynamics. TRADE IDEA DETAILS CURRENCY PAIR: USD/CAD CURRENT TREND: Upward due to USD resilience and weakened Canadian Dollar (CAD) from declining oil prices TRADE SIGNAL: Buy 👉ENTRY PRICE: 1.3475 ✅TAKE PROFIT: 1.3575 (Potential 100 pips gain targeting the next psychological resistance level) ❌STOP LOSS: 1.3425 (A 50 pips risk if the USD loses strength or Canadian economic outlook improves) ANALYSIS: USD Strength: USD's strength is apparent due to expected stubbornness in US inflation, which may hint at a Federal Reserve interest rate hike. CAD Weakness: The softening oil market and weak labor data in Canada exert downward pressure on CAD. Market Sentiment: Bearish sentiments in the US equities and S&P 500 futures may continue to feed into USD's resilience. Technical Indicators: The currency pair is at a critical level, and the upward trend seems to have room to continue, given the current economic indicators. FINAL THOUGHTS: This trade idea is based on current economic indicators and market sentiment, favoring a short-term upward trend in the USD/CAD pair. As with all trading activities, continued vigilance and adherence to risk management strategies are essential.
Long
by RichDadph-FX