USDCAD: Bearish Move From Resistance 🇺🇸🇨🇦
USDCAD is going to retrace from a key daily resistance.
A bearish imbalance candle that the price formed after its test
during the Asian session provides a strong intraday bearish confirmation.
Goal - 1.3707
❤️Please, support my work with like, thank you!❤️
I am part of Trade Nation's Influ
About U.S. Dollar / Canadian Dollar
The US Dollar vs. the Canadian Dollar is a very popular currency pair due to the extremely large amount of cross border trading that occurs between the U.S. and Canada. The CAD is considered to be a commodity currency because of the large amount of natural resources, especially oil, that are mined and exported to southern neighbors. The USDCAD is one of the most traded currency pairs in the world.
Related pairs
Remains Below 1.3700 Ahead of CPI Data from the US and CADUSD/CAD Remains Below 1.3700 Ahead of CPI Data from the US and Canada
USD/CAD continues to decline ahead of inflation data from both the US and Canada.
The US inflation rate is expected to rise to 2.7% year-over-year in June, up from 2.4% recorded in May.
Meanwhile, Canada’s CPI is forecasted to in
USDCAD Potential DownsidesHey Traders, in today's trading session we are monitoring USDCAD for a selling opportunity around 1.37200 zone, USDCAD is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 1.37200 support and resistance area.
Trade safe, Joe.
USDCAD 4H Bearish SetupThe USDCAD chart shows a clear bearish breakdown from the ascending channel. Price has broken below support near 1.3720, confirming a shift in structure.
Key Analysis:
Bearish Momentum: Break below the channel and current market structure signals downside pressure.
Immediate Resistance: 1.3725–1.
Bearish Break of Trendline + Retest | Short SetupPrice has broken below the ascending trendline, indicating a potential shift in market structure. The recent bearish momentum suggests sellers are gaining control. After the breakout, price is now retesting the underside of the trendline, providing a potential short entry opportunity.
Entry: On ret
Market Analysis: USD/CAD Consolidates GainsMarket Analysis: USD/CAD Consolidates Gains
USD/CAD declined and now consolidates below the 1.3750 level.
Important Takeaways for USD/CAD Analysis Today
- USD/CAD started a fresh decline after it failed to clear the 1.3775 resistance.
- There is a key bullish trend line forming with support a
Potential bullish rise?The Loonie (USD/CAD) is reacting off the pivot and could rise to the 1st resistance which is a pullback resistance that aligns with the 127.2% Fibonacci extension.
Pivot: 1.3690
1st Support: 1.3619
1st Resistance: 1.3856
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your c
Bearish drop?The Loonie (USD/CAD) has rejected off the pivot which acts as a pullback resistance, and could drop to the 1st support.
Pivot: 1.3742
1st Support: 1.3600
1st Resistance: 1.3792
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money
See all ideas
Summarizing what the indicators are suggesting.
Oscillators
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Oscillators
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Summary
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Summary
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Summary
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Moving Averages
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Moving Averages
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Displays a symbol's price movements over previous years to identify recurring trends.