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U.S. Dollar / Canadian Dollar

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USDCAD trade ideas

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 increase by 1.9% year-over-year in June, up from 1.7% in May. USD/CAD is trading around 1.3690 during the European session on Tuesday, following two days of gains. The pair is declining as the US dollar (USD) continues to weaken ahead of the June CPI data from the US. The inflation figures will provide new insights into the Federal Reserve's (Fed) monetary outlook. 📉 Market Outlook for USD/CAD – Possible Drop on CPI Release The USDCAD is still in a downtrend, and a sharp drop could occur with today’s CPI data release. Currently, there are two Buy Side Liquidity zones above and Sell Side Liquidity below, with the price balanced around the VPOC zone, which will soon decide the direction after the CPI announcement today. Market liquidity still holds a FVG below, and with CPI data expected to favor USD, this could trigger a sharp drop towards this liquidity zone, possibly nearing CP OBS at 1.3600, followed by a potential rebound. If price breaks CP zone, it may head toward a strong OB zone near 1.35xxx. Therefore, caution is advised when monitoring these OB zones. 🎯 Trading Strategy for Today 🟢 BUY ZONE: 1.36000 SL: 1.35500 TP: 1.36500 → 1.37000 → 1.37500 → ???? 💬 What are your thoughts on USD/CAD ahead of the CPI data release? Do you expect a strong bounce or a continued decline? Share your views and join the conversation below! 👉 Follow for more updates and insights, and join the community to discuss real-time market moves!
Short
by MMFlowTrading
2
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 capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Long
by ICmarkets
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 you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Short
by ICmarkets
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 you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Short
by ICmarkets
USDCAD is showing signs of bullish recovery✏️ OANDA:USDCAD has broken the Trendline structure to form a corrective uptrend. The price is still above the 20 SMA, indicating that the market's bullish momentum is still strong. The bullish wave may extend to 1.385. Pay attention to the reaction at the 1.375 liquidity candle wick zone for a positive DCA strategy. 📉 Key Levels Support: 1.365 Resistance: 1.375-1.385 BUY Now: 1.365 (Strong support zone) BUY Trigger: break and close above 1.375 Target: 1.385 Leave your comments on the idea. I am happy to read your views.
Long
by VHT_Trader
2
Heading into pullback resistance?The Loonie (USD/CAD) has rejected off the pivot which acts as a pullback resistance and could reverse to the pullback support that aligns with the 50% Fibonacci retracement. Pivot: 1.3782 1st Support: 1.3673 1st Resistance: 1.3858 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Short
by ICmarkets
Bearish drop?USD/CAD is rising towards the resistance level which is an overlap resistance at lines up with the 38.2% Fibonacci retracement and could drop from this level to our take profit. Entry: 1.3706 Why we like it: There is an overlap resistance that aligns with the 38.2% Fibonacci retracement. Stop loss: 1.3746 Why we like it: There is a swing high resistance. Take profit: 1.3653 Why we like it: There is a pullback support. Enjoying your TradingView experience? Review us! Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Short
by VantageMarkets
Tricky USDCAD . let the market decide - we follow Hello traders , here is the full multi time frame analysis for this pair, let me know in the comment section below if you have any questions , the entry will be taken only if all rules of the strategies will be satisfied. wait for more price action to develop before taking any position. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied. 🧠💡 Share your unique analysis, thoughts, and ideas in the comments section below. I'm excited to hear your perspective on this pair . 💭🔍 Don't hesitate to comment if you have any questions or queries regarding this analysis.
by okako_trading
Bearish drop off pullback resistance?USD/CAD is reacting off the resistance level which is a pullback resistance and could reverse from this level to our take profit. Entry: 1.3753 Why we like it: There is a pullback resistance. Stop loss: 1.3796 Why we like it: There is a swing high resistance that is slightly above the 145% Fibonacci extension. Take profit: 1.3709 Why we lik eit: There is an overlap support that lines up with the 71% Fibonacci retracement. Enjoying your TradingView experience? Review us! Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Short
by VantageMarkets
Bullish bounce off pullback support?USD/CAD is falling towards the support level which is a pullback support and could bounce from this level to our take profit. Entry: 1.3695 Why we like it: There is a pullback support. Stop loss: 1.3644 Why we like it: There is a pullback support that aligns with the 50% Fibonacci retracement. Take profit: 1.3781 Why we lik eit: There is a pullback resistance. Enjoying your TradingView experience? Review us! Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Long
by VantageMarkets
USD/CAD) strong bullish trend Read The captionSMC trading point update Technical analysis of USD/CAD (U.S. Dollar vs Canadian Dollar) on the daily timeframe. Here's a breakdown of the trade --- Technical Breakdown: 1. Breakout from Descending Channel: Price has broken out above a descending trend channel (marked with black lines). This breakout suggests a potential trend reversal or at least a bullish correction phase. 2. Key Support Zone (Yellow Box): The yellow zone marked as “support level” was a strong consolidation area. Price has bounced off this zone multiple times, forming a solid base for further upside. 3. Bullish Price Action: Price has closed above the previous resistance (now support), signaling bullish intent. Current candle structure confirms strength with bullish continuation patterns. 4. RSI Indicator: RSI is at 56.38, indicating bullish momentum without being overbought. Suggests there is room for further upside before exhaustion. --- Target Levels: Target Point 1: 1.37968 (near-term resistance) Target Point 2: 1.38615 (intermediate target) Target Point 3: 1.39064–1.39090 (longer-term resistance near the 200 EMA) Mr SMC Trading point --- Trade Idea Summary: Bias: Bullish Entry Zone: Break and retest of the yellow support area (~1.368–1.371) Target Zone: 1.379 – 1.390 Invalidation: Break below the yellow support zone Confluence: RSI strength + breakout of downtrend channel + structural support plesse support boost 🚀 this analysis)
Long
by SMC-Trading-Point
USDCAD Massive Short! SELL! My dear subscribers, This is my opinion on the USDCAD next move: The instrument tests an important psychological level 1.3730 Bias - Bearish Technical Indicators: Supper Trend gives a precise Bearish signal, while Pivot Point HL predicts price changes and potential reversals in the market. Target - 1.3668 My Stop Loss - 1.3761 About Used Indicators: On the subsequent day, trading above the pivot point is thought to indicate ongoing bullish sentiment, while trading below the pivot point indicates bearish sentiment. Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis. ——————————— WISH YOU ALL LUCK
Short
by AnabelSignals
1
USDCAD (U.S. Dollar/Canadian Dollar) long (buy) setupUSDCAD (U.S. Dollar/Canadian Dollar) long (buy) setup. Here's the breakdown: **Setup Overview** * **Entry Level:** Around 1.3700 * **Take Profit (TP):** 1.3812 (upper green zone) * **Stop Loss (SL):** 1.3638 (lower red zone) **Technical Observations** * Price is bouncing from a rising trendline (diagonal black line), suggesting bullish support. * Price is trading above the 50 EMA, 21 EMA, and 7 EMA — indicating bullish momentum. * A strong bullish candle with high volume occurred before consolidation, showing buyer interest. * Tight consolidation near the entry level suggests potential for a breakout continuation upward. **Bias** * **Bullish** bias as long as price remains above the trendline and EMAs. * The trade offers a favorable risk-to-reward ratio, targeting a \~110 pip gain vs. \~60 pip risk. *Summary** The chart shows a bullish trade setup on USDCAD based on trendline support, EMA alignment, and volume confirmation. A breakout above 1.3700 aims for 1.3812, while invalidation lies below 1.3638.
Long
by Harry_Megat
Bullish bounce off pullback support?USD/CAD is falling towards the support level which is a pullback support that lines up with the 38.2% Fibonacci retracement and could bounce from this level to our take profit. Entry: 1.3681 Why we like it: There is a pullback support level that aligns with the 38.2% Fibonacci retracement. Stop loss: 1.3645 Why we like it: There is a pullback support that lines up with the 61.8% Fibonacci retracement. Take profit: 1.3782 Why we like it: There is a pullback resistance. Enjoying your TradingView experience? Review us! Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Long
by VantageMarkets