USDCAD BUY - FRANKFURT SESSIONBuy setup due to a break of structure, with the higher time frame supply as the main target.
USDCAD trade ideas
USDCAD H4 | Bearish Reversal Based on the H4 chart analysis, we can see that the price is rising toward our sell entry at 1.3490, which is a pullback resistance
Our take profit will be at 1.3421, a swing-low support level.
The stop loss will be at 1.3569, an overlap resistance level close to 61.8% Fibonacci retracement.
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Best Position to Buy It seems, everything is set up for a temporary climb... Buy and be patient... You will be rewarded.
USDCAD ShortUC just gave a bearish sign last week , the upcoming week has to fall down IF it respects the key levels shown on the chart so it has a 55% probability to continue bearish
USD/CAD Bearish Move Big institutional price movements. OANDA:USDCAD .
As you can see there's a lot of rejections.
You are more likely to find a better entry leading to next week for a retest.
Overall, I am fine with the risk fading it right now.
If it does pull back i will add on more to the position.
USDCAD Continued downtrendbearish dollar until election.
Trend lines and Fib levels lined up with S&R.
Let's short it!
UsdCad Trade UpdateSent out an update yesterday for UC explaining my reasoning for going short on the pair. Prices seems to be playing out to the T! I'll personally be keeping my stops in the same spot. With price confirming our flip of structure we could definitely expect price to crash down to 1.34000. From there we can either break that low and continue with bearish structure or respect support and continue ranging between 1.36000 and 1.34000.
USDCAD Will Collapse! SELL!
My dear friends,
USDCAD looks like it will make a good move, and here are the details:
The market is trading on 1.3596 pivot level.
Bias - Bearish
Technical Indicators: Supper Trend generates a clear short signal while Pivot Point HL is currently determining the overall Bearish trend of the market.
Goal - 1.3547
Recommended Stop Loss - 1.3624
About Used Indicators:
Pivot points are a great way to identify areas of support and resistance, but they work best when combined with other kinds of technical analysis
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WISH YOU ALL LUCK
sell usd cadweekly chart is bullish.dayly iss bullish,price must come to a fair area,this case 1hour fvg sell the markert
USDCAD - ANALYSISHello friends
I want to share my opinion about the USDCAD currency pair with you
According to the closing of the weekly candle
I expect the price to drop more than the Canadian dollar I think the best area to sell the Canadian dollar is 1.35900 and my first target for it is 1.3500 .
Trade safe
market analysis 9/24/24Hello all,
here is my analysis for the early Markets some notable possible setups may be coming in to play
with
AUDUSD (Buy)
EURCHF (Sell)
EURNZD (Sell)
EURAUD (Sell)
We now are waiting for a breach in lowest lows or highest highs and a hold before reviewing our technicals once more for entry opportunities
USDCAD: Curve Analysis (1D)The USDCAD on the 1-Day timeframe shows that the pair is hovering in a downtrend, with indicators revealing mixed but predominantly bearish signals.
OSCILLATORS OVERVIEW
The majority of oscillators remain in NEUTRAL territory, suggesting limited momentum in either direction. Key metrics include:
RSI (14) : 39.50 (NEUTRAL)
Stochastic %K (14, 3, 3) : 42.11 (NEUTRAL)
Commodity Channel Index (CCI 20) : −48.23 (NEUTRAL)
MACD Level (12, 26) : −0.0019 (BUY)
Momentum (10) : −0.0096 (SELL)
Notably, the MACD shows a BUY signal, but this is outweighed by the SELL signal from the Momentum oscillator, indicating that short-term buying pressure might be fading.
MOVING AVERAGES
All significant moving averages (both exponential and simple) indicate a strong SELL bias. This aligns with the prevailing BEARISH sentiment. Key moving averages include:
EMA (10, 20, 30, 50, 100, 200): All SELL
SMA (10, 20, 30, 50, 100, 200): All SELL
Ichimoku Base Line (9, 26, 52, 26): NEUTRAL
Hull MA (9): SELL
Price Action appears to have satisfied the Supply Range; however, I have prepared four NEW Sell Limit Orders (SLOs) to capitalize on the possibility of Price Action retracing to the upside. I'm targeting previous Points of Control (POC) and Take Profit Levels.
We still have a couple of Take Profit (TP) levels left to secure during the potential move down. Additionally, two Buy Limit Orders (BLOs) are positioned for a potential recovery at lower price levels.
NEW SELLING OPPORTUNITIES
Based on previous levels
SLO1 @ 1.3754 📉
SLO2: 1.3822 📉
POC @ 1.3667 ⏳, NEW SLO HERE
TP1 @ 1.3625 💰, NEW SLO HERE
POC @ 1.3578 ⏳, NEW SLO HERE
TP2 @ 1.3517 💰, NEW SLO HERE
TP3 @ 1.3437
TP4 @ 1.3313
BLO1 @ 1.3284⏳
BLO2 @ 1.3212⏳
🚫The Stop-Loss (SL) for the pivot high is set at 1.38561, while the pivot low is guarded by a Stop-Loss at 1.3178. This allows for risk management as the market fluctuates within the range.
SUMMARY
USDCAD currently reflects a strong BEARISH sentiment across moving averages, with oscillators providing mixed, yet largely NEUTRAL signals. Price Action nearing any of the New Sell Limit Orders will dictate the next phase, but the DOWNTREND bias remains firm. Stay attentive as price approaches critical zones and prepare for potential downside moves with the predefined SLOs, TPs, and BLOs.
⏳ = PENDING
📈 = BLO TRIGGERED
📉 = SLO TRIGGERED
💰 = TOOK PROFIT
USDCAD POSSIBLE SELL OPPORTUNITY!!!Price just tested and rejected a previous support level which now turn resistance . A sell opportunity is envisaged from the current market price. Our target is 1.34501.
Trade safely!
USDCAD is BearishPrice was in an uptrend, however a matured bearish divergence seems to be at play now on the four hourly time frame. Previous higher low is successfully broken, and instead a lower low is printed, if bears maintain their grasp on price action then we can expect further downside in price action. Targets are mentioned on the chart.
USD/CAD BUYERS WILL DOMINATE THE MARKET|LONG
Hello, Friends!
USD/CAD pair is trading in a local downtrend which we know by looking at the previous 1W candle which is red. On the 15H timeframe the pair is going down too. The pair is oversold because the price is close to the lower band of the BB indicator. So we are looking to buy the pair with the lower BB line acting as support. The next target is 1.361 area.
✅LIKE AND COMMENT MY IDEAS✅
USDCAD: Support becoming resistance?Over the past 6 months price has been trying to go below 1.36. It took 4 times to break it. Then it did with full force and has now come back up into this same area.
Expecting this to be an essential resistance area.
Initial target would be 1.35200, but would not be surprised if we break the big trendline as we had pretty strong bearish momentum last month.
1:2 day trade shortPrice broke below a support zone, retested it and is now continuing the downward trend. On lower timeframes there is another local support that broke and retested as well. Looking to hop on this move down. Tight SL
UsdCad Trade UpdateI sent out a short set up earlier on UC. I said I wanted price to retest the last HL after breaking structures earlier. As of now price is showing a clean bearish candle at the retest to confirm those shorts for me. Looking for a 1:3rr on this set up. We'll see how price plays out
USDCSD Prediction happened find a buy entryEVERYTHING ON CHART
please check my pre idea so you can understand better
signals and analsys are free... and always will be
TRADE: will buy
DURATION: SHORT TO MEDUAM
SCALP: NO SCALPING
Market News Report - 22 September 2024It was a historic week in FX, as the Fed delivered a half-percent interest rate cut for the first time since 2020. Based partly on this news, currencies like the British pound and the Australian dollar found strength across numerous markets.
In our latest news report, let's see what to expect from all the major forex markets performance-wise.
Market Overview
Below is a brief technical and fundamental analysis breakdown for all major currencies.
US dollar (USD)
Short-term outlook: bearish.
Unsurprisingly, the Fed delivered a dovish move with a historic 50 basis points (bps) rate cut. So, the bearish bias firmly remains, with signals of two 25 bps cuts in the pipeline for the rest of 2024.
Furthermore, unemployment was recently revised higher.
The DXY chart aligns perfectly with the fundamentals, having recently reached a major support area (100.617) on the daily chart. Interestingly, a clear break has yet to occur after several weeks. So, be mindful of a potential technically driven retracement.
Meanwhile, the key resistance is far away at 107.348, which will remain untouched for some time.
Long-term outlook: weak bearish.
Markets anticipate several full rate cuts before the year ends, with the Fed being keen to harness a soft landing. Also, any data on weakened jobs would be another bearish driver for the dollar.
However, any potential strength in upcoming GDP (Gross Domestic Product) and jobs would make rate cuts less urgent, allowing for a USD retracement.
Euro (EUR)
Short-term outlook: weak bearish.
As usual, the STIR (short-term interest markets) were predictably accurate as the European Central Bank (ECB) cut the interest rate. While 'being mum' about forward guidance, they revised core inflation projections higher.
Sources report that a cut in October is unlikely, but one in December is more likely.
Meanwhile, the chart tells a slightly different story. After recently breaking a major resistance, the next target is 1.12757. Meanwhile, the key support area lies far below at 1.07774.
Long-term outlook: weak bearish.
The ECB hasn't committed to a specific future path with the interest rate. Due to lingering concerns over services inflation, a rate cut in October is less likely, with a 76% chance of a hold (according to STIR markets).
So future inflation data remains key, with improvements likely to tick the euro higher. We should note that the interest rate differential has become more positive for EUR after the latest Fed cut.
British pound (GBP)
Short-term outlook: bearish.
The Bank of England (BoE) kept the interest rate steady in last week's meeting. Still, the language indicates they need to be "restrictive for sufficiently long."
As with the ECB, the central bank's current key theme is fighting persistent inflation in the United Kingdom. So, it makes more sense to be dovish than hawkish. Expect any shocks in inflation (or other data like labour) to send the pound lower.
Like the euro, the British pound has been saved by dollar weakness on the charts. However, it is more bullish. We must go onto the weekly chart to see the next resistance target at (1.34825). However, it hasn't yet properly broken the closest area at 1.32666.
On the other hand, the nearest key support is far away at 1.26156.
Long-term outlook: bearish.
Sequential rate cuts by the BoE may soon be a reality. Also, expect any weak CPI, labour, and GDP data to back up the bearish bias.
Another interesting point is the latest CFTC (Commodity Futures Trading Commission) report, showing that GBP longs have been stretched to the upside. So, bullishness should be limited.
Japanese yen (JPY)
Short-term outlook: bullish.
The primary bullish catalyst is the Bank of Japan's (BoJ) recent decision to hike the interest rate.
STIR markets expect a hold (99% probability) at the next meeting but a hike at the start of next year.
Governor Ueda of the BoJ noted that despite domestic economic recovery, recent exchange rate movements have reduced the upside risk of inflation. All of this backs up the potential for a rate hold or hike.
USD/JPY has long been bearish, recently surpassing (but not breaking with confidence) the major resistance at 140.252. Meanwhile, the major resistance (at 161.950) is too far for traders to worry about.
Long-term outlook: weak bullish.
Lower US Treasury yields are one bullish catalyst for the yen. Inflation pressures and wage growth would also provide upward momentum.
We should also consider that the dovish tendencies of other major central banks are JPY-positive.
Australian dollar (AUD)
Short-term outlook: weak bullish.
The Reserve Bank of Australia (RBA) unsurprisingly kept the interest rate unchanged not long ago to keep the fight against persistent inflation rate. (Diarise the upcoming rate statement on Tuesday for AUD.)
Governor Bullock also stressed that the latter's results need to improve before a cut is envisioned.
The Aussie remains sensitive to China's recent economic woes, especially with declining iron ore prices from the country's steelmakers.
The Aussie market has risen noticeably of late, having exceeded the recent resistance level (at 0.68239). While the next nearby target is 0.68711, we need to see how it behaves near the latter.
Meanwhile, the major support level is down at 0.63484.
Long-term outlook: weak bullish.
The RBA remains hawkish as per their last meeting, focusing on core inflation. Overall, it's crucial to be data-dependent with the Aussie, with recent labour data keeping the bullish script alive.
However, the Australian dollar is pro-cyclical, so it is exposed to slow economic growth in other countries.
New Zealand dollar (NZD)
Short-term outlook: weak bearish.
New Zealand's central bank recently dropped the Kiwi's interest rate from 5.50% to 5.25%.
Lower-revised cash rate projections also hint at the potential for further cuts in the near future.
The Kiwi has recently breached a major resistance at 0.62220. While the next target is at 0.63696, the latter area is still worth considering.
Conversely, the major support is at 0.58498, an area which it is unlikely to test soon.
Long-term outlook: weak bearish.
In its latest meeting, the central bank's dovish stance (where it cut the interest rate) puts the Kiwi in a 'bearish bracket.'
However, as a risk-sensitive currency like the Aussie, any growth data in China could trigger bullishness for NZD. As with its counterpart, traders should be data-dependent.
Canadian dollar (CAD)
Short-term outlook: bearish.
The Bank of Canada (BoC) dropped the interest rate to 4.25%, as anticipated by the markets for some time. Further cuts in the next few meetings are on the cards, with the long-term target being 3%.
Rising unemployment and weak economic growth are the key drivers for this dovishness. The ongoing mortgage stress remains another bearish catalyst.
The CAD continues to strengthen mildly due to USD weakness. It now looks to test the next major support target at 1.33586, while the major resistance is far ahead at 1.39468.
Long-term outlook: weak bearish.
Expectations of a rate cut remain the focal point. Governor Macklem himself stated some time ago that it's reasonable to expect more cuts in the future. Moreover, STIR markets have priced in an additional cut sometime this year.
The mortgage stress remains a major factor in this interest rate policy, and the BoC will have to cut rates to alleviate it. Still, this narrative is getting tired.
Expect encouraging oil prices, along with general economic data improvement, to save the Canadian dollar's blushes.
Swiss franc (CHF)
Short-term outlook: bearish.
STIR markets forecast a 25bps rate cut this week (a 43% chance, up from 36% in the last week) and a 50bps cut in December this year.
Secondly, SNB expects a moderate improvement in inflation, GDP (Gross Domestic Product), and unemployment to rise slightly in the near term.
Still, the Swiss franc can strengthen during geopolitical tensions, such as a worsening Middle East crisis.
We are seeing a clear range on USD/CHF in a strong bear move. So, let's see which side the market is going to incline more towards going forward.
The major support level is closer at (0.83326), while the major resistance level is far higher at 0.92244.
Long-term outlook: weak bearish.
The expected rate cut in the next SNB meetings for 2024 is the main bearish driver. However, the SNB's chairperson, Thomas Jordan, expressed that "appreciation of the Swiss Franc has an impact on monetary policy." This means that potential intervention by the central bank can go either way.
Conclusion
This week should be milder than the previous one filled with interest rate decisions. The main high-impact economic release to watch out for is the RBA rate statement on Tuesday.
As always, hope for the best and prepare for the worst, but this report should help you determine your bias toward each currency.
USDCAD Sell PositionTrade Journal Entry
USDCAD Sell
Time Frame:
- Daily (FVG Identification)
- 4-hour (Entry Signal)
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1. Trend Confirmation:
Identified a Change of Character (COC) on USDCAD by breaking the previous low at 1.3600 indicating a reversal in market sentiment and confirming a bearish trend.
2. Fair Value Gap (FVG):
On the daily chart, noted a Fair Value Gap between 1.3640 and 1.3690. This gap is a potential reversal zone where the price has revisited, providing a trading opportunity for sell position.
3. Entry Signal
On the 4-hour chart, an engulfing bearish candle formed after touching the identified FVG zone. This pattern aligns with the bearish trend and indicates a potential continuation of the downtrend.
4. Trade Execution
Entry Price: 1.3595
SL: 1.3655 (above closest high)
TP1: 1.3200 (low Jan 2024)
TP2: 1.3125 (1.618 Fibonacci)
Risk-Reward Ratio (RRR): 1:7 - 1:8.5
Monitoring: Check-in daily at 8 AM & 8 PM
5. Outcome:
Exit Price:
Profit/Loss: pips
Summary: The trade is based on a bearish trend confirmed by the break of the previous low, supported by the bearish engulfing pattern within the daily FVG.
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Linarto Wijaya
