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U.S. Dollar / Canadian Dollar

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USDCAD trade ideas

USDCAD Analysis: Three Bounce ScenariosHello traders! USDCAD is offering three trading scenarios on the daily timeframe. The first scenario suggests the pair may react bullishly from the currently approached zone, setting up a bounce opportunity that could drive price higher toward the 1.41600 area. The second scenario anticipates a bounce toward the 1.37586 region, where a mean reversion setup may come into play (if buyers step in and price action confirms bullish intent near that support). The third scenario anticipates a bounce toward the 1.34150 region, where a mean reversion setup may come into play (if buyers step in and price action confirms bullish intent near that support). Discretionary Trading: Where Experience Becomes the Edge Discretionary trading is all about making decisions based on what you see, what you feel, and what you've learned through experience. Unlike systematic strategies that rely on fixed rules or algorithms, discretionary traders use their judgment to read the market in real time. It's a skill that can't be rushed, because it's built on screen time, pattern recognition, and the ability to stay calm under pressure. There's no shortcut here. You need to see enough market conditions, wins, and losses to build that intuition—the kind that tells you when to pull the trigger or sit on your hands. Charts might look the same, but context changes everything, and that's something only experience can teach you. At the end of the day, discretionary trading is an art, refined over time, sharpened through mistakes, and driven by instinct. It's not for everyone, but for those who've put in the work, it can be a powerful way to trade.
Long
by davidavasalcai
38
USDCAD: Bullish Wave on the Horizon?USDCAD: Bullish Wave on the Horizon? From early April to early May, USDCAD moved within a broad accumulation pattern without a clear direction. However, in the past week, the pair made its first bullish wave, climbing nearly 260 pips. Now, USDCAD appears to be accumulating once again, potentially setting up for another bullish wave. If this momentum continues, the price may extend toward the 1.4100 and 1.4200 levels. You may find more details in the chart! Thank you and Good Luck! ❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️ Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
Long
by KlejdiCuni
7
USD/CAD: The US Dollar in a Trap! Ready for a Rebound?Technical Overview: The monthly chart of USD/CAD shows a weakening phase of the US dollar against the Canadian dollar. Currently, the price is located at a key support zone around 1.3800. The RSI suggests a potential technical rebound, but the bearish structure remains intact until the resistance at 1.4000 is broken. Seasonality: According to seasonal trend data, the month of May historically shows a slightly positive trend for USD/CAD: 20 years: +0.0017 15 years: -0.0027 10 years: +0.0014 5 years: +0.0039 2 years: -0.0020 This trend highlights a historical short-term weakness (2 years), while over longer periods, the movement is marginally positive. COT Report: COT data shows an increase in long positions on the dollar (+2,158 contracts), while short positions also increased (+2,817 contracts). This suggests uncertainty among institutional traders, with a slight inclination towards short positions. Market Sentiment: Data indicates that 65% of retail traders are short on USD/CAD, while only 35% are long. This could signal a potential squeeze if the price breaks above resistance levels. Operational Conclusion: Considering the bearish pressure and technical structure, a prudent strategy could include: Long Entry: Above 1.4000 with confirmation on lower timeframes. Stop Loss: Below 1.3800 to minimize exposure to false breakouts. Primary Target: 1.4200, then 1.4400. Alternative Strategy: If the price rejects the 1.4000 resistance, consider shorting towards 1.3700.
Long
by EdgeTradingJourney
6
USDCAD Is Bullish! Long!The USD/CAD exchange rate consolidated near 1.3980 during the European trading session, after the Canadian dollar (CAD) came under pressure due to falling crude oil prices, enabling the pair to recover earlier losses. Given that Canada is the largest crude oil exporter to the U.S., declining oil prices typically dampen CAD sentiment. USD/CAD is displaying a complex technical trend. On the daily chart, the price is currently consolidating around the 1.3980 level. The pair has rebounded from a recent low of 1.3749 and is now attempting to break through the key psychological barrier of 1.4000. If it can surpass both the 1.4000 psychological level and the 1.4050 resistance, further upside toward 1.4150 could be possible. On the downside, key support lies at 1.3890 (the lower edge of the recent consolidation range) and 1.3749 (the recent low). you are currently struggling with losses, or are unsure which of the numerous trading strategies to follow, at this moment, you can choose to observe the operations within our channel.
Long
by HilaryBloomer
1
USD/CAD - Wedge Breakout (06.05.2025)The USD/CAD pair on the M30 timeframe presents a Potential Buying Opportunity due to a recent Formation of a Wedge Breakout Pattern. This suggests a shift in momentum towards the upside and a higher likelihood of further advances in the coming hours. Possible Long Trade: Entry: Consider Entering A Long Position around Trendline Of The Pattern. Target Levels: 1st Resistance – 1.3893 2nd Resistance – 1.3928 🎁 Please hit the like button and 🎁 Leave a comment to support for My Post ! Your likes and comments are incredibly motivating and will encourage me to share more analysis with you. Best Regards, KABHI_TA_TRADING Thank you.
Long
by KABHI_TA_TRADING
16
Could the Loonie bounce from here?The price is falling towards the pivot and could bounce to the 61.8% Fibonacci resistance. Pivot: 1.3904 1st Support: 1.3840 1st Resistance: 1.4063 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
Bullish bounce off 38.2% Fibonacci support?The Loonie (USD/CAD) is falling towards the pivot and could bounce to the 1st resistance, which has been identified as a pullback resistance. Pivot: 1.3904 1st Support: 1.3840 1st Resistance: 1.4063 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 reversal off pullback resistance?USD/CAD is rising towards the resistance level, which is a pullback resistance that lines up with the 61.8% Fibonacci retracement and could reverse from this level to our take profit. Entry: 1.4060 Why we like it: There is a pullback resistance level that lines up with the 61.8% Fibonacci retracement. Stop loss: 1.4163 Why we like it: There is a pullback resistance level that lines up with the 78.6% Fibonacci retracement. Take profit: 1.3904 Why we like it: There is a pullback support level. 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
Heading into overlap resistance?The Loonie (USD/CAD) is rising towards the pivot, which has been identified as an overlap resistance and could reverse to the 1st support. Pivot: 1.4097 1st Support: 1.3896 1st Resistance: 1.4268 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
Bullish bounce?USD/CAD is falling towards the support level which is an overlap support that aligns with the 50% Fibonacci retracement and could bounce from this level to our take profit. Entry: 1.3896 Why we like it: There is an overlap support level that lines up with the 50% Fibonacci retracement. Stop loss: 1.3842 Why we like it: There is a pullback support level that lines up with thee 61.8% Fibonacci retracement. Take profit: 1.4061 Why we like it: There is a pullback resistance level that lines up with the 61.8% 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.
Long
by VantageMarkets
How to Rob the Bank (of Canada) – Legally! (USD/CAD Swing Trade)🌍 Hello Global Traders! 🌟 Money Makers, Risk Takers, and Market Shakers! 🤑💸✈️ Dive into our USD/CAD "The Loonie" Forex heist, crafted with the signature 🔥Thief Trading Style🔥, blending sharp technicals and deep fundamentals. Follow the strategy outlined in the TradingView chart, focusing on a long entry targeting the high-risk MA Zone. Expect a wild ride with overbought conditions, consolidation, and potential trend reversals where bearish players lurk. 🏆💰 Celebrate your wins, traders—you’ve earned it! 💪🎉 Entry 📈: The vault’s open! Grab bullish opportunities at any price, but for precision, set buy limit orders on a 15 or 30-minute timeframe near swing lows or highs for pullback entries. Stop Loss 🛑: 📍 Place your Thief SL at the recent swing low on the 4H timeframe (1.38500) for scalping or day trades. 📍 Adjust SL based on your risk tolerance, lot size, and number of open orders. Target 🎯: Aim for 1.42500 💵 USD/CAD "The Loonie" is riding a bullish wave, fueled by key market drivers. ☝ Unlock the full picture—dive into Fundamentals, Macro Insights, COT Reports, Quantitative Analysis, Sentiment Outlook, Intermarket Trends, and Future Targets. Check 👉🌎🔗. ⚠️ Trading Alert: News & Position Management 📰🚨 News can shake the market hard. Protect your trades by: Avoiding new entries during news releases. Using trailing stops to lock in profits and shield running positions. 📌 Markets move fast—stay sharp, keep learning, and adapt your strategy as conditions evolve. 💖 Power up our heist! 🚀 Tap the Boost Button to amplify our Thief Trading Style and make stealing profits a breeze. Join our crew, grow stronger, and conquer the markets daily with ease. 🏆🤝❤️ Catch you at the next heist, traders—stay ready! 🤑🐱‍👤🤩
Long
by Thief_Trader
USDCAD SHORT FORECAST Q2 W20 D16 Y25USDCAD SHORT FORECAST Q2 W20 D16 Y25 Professional Risk Managers👋 Welcome back to another FRGNT chart update📈 Diving into some Forex setups using predominantly higher time frame order blocks alongside confirmation breaks of structure. Let’s see what price action is telling us today! 💡Here are some trade confluences📝 ✅Intraday breaks of structure ✅Tokyo ranges to be filled ✅15' order block identified ✅4 Hour order block ✅4 Hour 50 EMA 🔑 Remember, to participate in trading comes always with a degree of risk, therefore as professional risk managers it remains vital that we stick to our risk management plan as well as our trading strategies. 📈The rest, we leave to the balance of probabilities. 💡Fail to plan. Plan to fail. 🏆It has always been that simple. ❤️Good luck with your trading journey, I shall see you at the very top. 🎯Trade consistent, FRGNT X
Short
by JCFRGNT
DECISION OF THE CHIEF VILLAGE BEARJust yesterday, the bears in the woods came into the city, we travelled all the way into Arkansas on AUDUSD but were later deported back to Australia after we hit a Stop loss (a rough ride I must add). Afterwards, the village Chief Bear called for a Bear meeting earlier today and I was present in that meeting. We did not like the deportation style and I could tell you that emotions were heightened in that meeting...damn!. CONCLUSION: The Village Chief Bear decided to send some mercenaries yet again into the city to scout for a flowing river full of fish and also a very nice bee hive, large enough to feed the community, and I am one of them. To carry this out, we need an FVG at a region where we observed some foul play of price. Price action demands that it will come back to that region and as such, we took our strike almost after everything SEEMS right. I am with a bag of fish just incase we get ambushed (do with this info whatever you can), I hope we won't be jailed before being deported this time.
Short
by Iron-D
1
USDCAD: Bullish Move Will Continue 🇺🇸🇨🇦 USDCAD will likely continue rising after a retest of a recently broken significant daily resistance cluster. A double bottom pattern formation on its retest provides a strong intraday bullish confirmation. Canadian fundamentals data strengthened buyers even more. I think that the pair is going to reach 1.3955 level soon. ❤️Please, support my work with like, thank you!❤️ I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
Long
by VasilyTrader
3