USDCAD MARKET OUTLOOK📊 USDCAD Institutional Market Outlook
🔷 Monthly & Weekly Structure – Bearish Bias
A Monthly Fair Value Gap (FVG) was formed after a breakaway gap, closing all prior bullish FVGs. This signals strong bearish intent from institutions, with a likely draw toward the next key liquidity level at 1.34210.
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 currencies
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 I Weekly CLS I Model 1 I KL - OB I Target CLS LowYo Market Warriors ⚔️
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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
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uptrendIt is expected that after some fluctuation and correction, the upward trend will continue. A break and consolidation above the resistance trend line will be a confirmation of the upward trend.
Otherwise, a continuation of the downward trend with a break of the green support range will be possible.
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
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Displays a symbol's price movements over previous years to identify recurring trends.
Frequently Asked Questions
The value of the USDCAD pair is quoted as 1 USD per x CAD. For example, if the pair is trading at 1.50, it means it takes 1.5 CAD to buy 1 USD.
USDCAD is a major currency pair, i.e. a popular currency paired with USD.
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