Get started

U.S. Dollar / Canadian Dollar

No trades
See on Supercharts
Overview News
Ideas
Discussions Technicals Seasonals Economic Calendar

USDCAD trade ideas

Daily and 4 Hour Timeframe Analysis (USDCAD, D1 H4) Right Chart: 4-Hour Timeframe Analysis (USDCAD, H4) This side offers a closer view of the Wyckoff schematic and confirms the market structure through the smaller timeframe. Phase B of Wyckoff Distribution: SOW (Sign of Weakness in Phase B) is seen here, marking the preliminary signs that supply is overcoming demand. This is located near the 1.3510 level, an area where institutional participation may be fading on the buy side. The AR (Automatic Rally) and ST (Secondary Test) events are clearly demarcated, showing where price rebounded after initial breakdowns, testing previous support levels that now act as resistance. Break of Structure (BOS): A BOS Internal (4H) event around the 1.34500 level confirms a breach in market structure, suggesting that further downside is likely. A more significant BOS MSB (Major Structure Break) occurs below 1.3420, confirming a shift in trend direction from bullish to bearish. POC (Point of Control): In the 4-hour view, the POC lies near 1.35793, acting as a critical level of volume concentration. This signifies a battle between buyers and sellers, likely to act as a strong area of resistance moving forward. Supply Zones: The chart identifies multiple resistance zones where previous support has now flipped to resistance, particularly in the 1.36472 and 1.36229 regions. These resistance lines, along with the BC (Buying Climax) and UT (Upthrust), represent zones where distribution patterns fully manifest. Projected Downtrend: The overall bias on both timeframes is bearish, with expected markdowns towards the levels around 1.3137, as the larger Elliott Wave structures unfold. Conclusion: This analysis emphasizes a bearish continuation for USD/CAD, aligning with both Wyckoff Distribution and Elliott Wave principles. The market appears to have completed its final upward move (UTAD) and is now entering a markdown phase. Price rejection near the key resistance and supply zones supports this outlook, while the break of structure (BOS) further solidifies the bearish trend.
Short
by spaceangel
11
Market Analysis: USD/CAD StrugglesMarket Analysis: USD/CAD Struggles USD/CAD declined and now consolidates below the 1.3600 level. Important Takeaways for USD/CAD Analysis Today - USD/CAD started a fresh decline after it failed to clear the 1.3650 resistance. - There was a break below a short-term contracting triangle with support at 1.3560 on the hourly chart at FXOpen. USD/CAD Technical Analysis On the hourly chart of USD/CAD at FXOpen, the pair climbed toward the 1.3620 resistance zone before the bears appeared. The US Dollar formed a swing high near 1.3650 and recently declined below the 1.3600 support against the Canadian Dollar. There was also a close below the 50-hour simple moving average and 1.3580. Besides, there was a break below a short-term contracting triangle with support at 1.3560. The bulls are now active near the 1.3550 level. Recently, the pair corrected some losses and climbed above the 23.6% Fib retracement level of the downward move from the 1.3600 swing high to the 1.3546 low. If there is a fresh increase, the pair could face resistance near the 1.3565 level. The next key resistance on the USD/CAD chart is near the 61.8% Fib retracement level of the downward move from the 1.3600 swing high to the 1.3546 low is 1.3580. If there is an upside break above 1.3580, the pair could rise toward the 1.3600 resistance. The next major resistance is near the 1.3650 level, above which it could rise steadily toward the 1.3700 resistance zone. Immediate support is near the 1.3550 level. The first major support is near 1.3535. A close below the 1.3535 level might trigger a strong decline. In the stated case, USD/CAD might test 1.3500. Any more losses may possibly open the doors for a drop toward the 1.3450 support. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
by FXOpen
2
USD/CAD - Expected.. A previous preparation would not be bad to make a big move! It has already taken liquidity so it is time to be alert.. Always before a consolidation, patience pays more than cunning.. We must wait for either a high point or a low point to be able to execute.. (in this case we continue with the purchases..) It may also not consolidate so much and continue long.. If the perspective is good, the strategy always adapts. If you liked it, do not forget to like and follow me! :)
Long
by DAISTRUM
#USDCAD 1DAYUSDCAD Daily Analysis: Uptrend and Buy Opportunity The USDCAD currency pair is currently displaying a strong upward trend, characterized by a series of higher highs and higher lows. Recent price action indicates that the pair is gaining momentum, driven by positive economic data from the U.S. and supportive factors from the Canadian economy. Key Indicators: Moving Averages: The 50-day moving average is positioned above the 200-day moving average, confirming the bullish trend. RSI: The Relative Strength Index (RSI) is trending upwards but remains below the overbought threshold, suggesting room for further gains. Support Levels: Recent pullbacks have respected key support levels, providing a solid foundation for potential upward movement. Market Sentiment: Investor sentiment is leaning towards bullishness, with increased demand for the U.S. dollar amid a stable economic outlook. Additionally, any shifts in oil prices can influence the CAD, but currently, the technical setup favors a continued upward trajectory. Buy Opportunity: Traders looking to capitalize on this uptrend should consider entering long positions on pullbacks to key support levels, ideally in conjunction with positive market news or economic releases. Targeting previous resistance levels can provide a favorable risk-reward ratio. Overall, the USDCAD pair presents a promising buy opportunity for traders looking to align with the prevailing uptrend.
Long
by PIPSFIGHTER