USD/CAD extends its three-day rally, fueled by robust US economic data and rising Treasury yields, while weaker oil prices weigh on the Canadian dollar. Market watchers now eye upcoming macro releases and energy trends for clues on the next move in the pair.
USD/CAD extends gains in a three-day rally, supported by strong US jobs data, hawkish Fed signals, and weaker oil prices impacting the Canadian dollar. After soft end-2024 performance, the pair is poised for continued upside if momentum sustains above key technical levels. Market focus remains on shifting monetary policy and macroeconomic trends as Q1 unfolds.
USD/CAD continues its three-day winning streak, supported by weaker Canadian GDP data, a stronger US dollar backed by Fed’s “higher for longer” stance, and falling crude oil prices. Traders eye Fed policy signals and oil market dynamics for clues on the next moves.
USD/CAD extends a three-day rally as the US dollar gains strength on robust economic data and hawkish Fed signals, while Canadian growth slows and oil prices dip. Eyes on key resistance near 1.3740 to gauge if momentum can push toward 1.3850 levels.
USD/CAD recently illustrated a classic stop-hunt scenario followed by a bearish structure shift, as detailed by TradingShot. After a liquidity grab above 1.3770 triggered stops, a bearish engulfing candle and break below key support at 1.3715 confirmed a shift to lower highs/lows. Retracements into institutional order blocks around 1.3730–1.3745 offer potential short entries. This move aligns with the cautious macro backdrop—halting rate hikes from Fed and BoC and volatile oil prices—suggesting deeper bearish pressure ahead. Traders should combine price structure with market context for better timing and risk management. #ForexAnalysis #USDCAD
USD/CAD recently saw a classic stop hunt, pushing price above key resistance near 1.3790 to trigger stops. However, this move lacked follow-through and quickly reversed, breaking support and signaling a bearish shift. Watch supply zones around 1.3740-1.3760 for selling pressure, with key support near 1.3650 and 1.3590 levels. Sellers appear to have regained control after the speculative climax. Full analysis by LordOfCharts: https://www.tradingview.com/chart/USDCAD/D8Cs5bb9-USD-CAD-From-Stop-Hunt-to-Bearish-Shift/
USDCAD recently experienced a classic liquidity grab above recent highs near 1.3740, triggering stop orders before reversing. This stop hunt resulted in a break of structure, signaling a bearish market shift. Traders should watch key supply zones and fair value gaps for potential re-entry points as the pair adjusts to evolving economic and central bank dynamics. Analysis originally by @DojiAnt, expanded for deeper insight. #Forex #USDCAD #MarketStructure
USD/CAD has shifted from a liquidity grab triggered by a stop hunt above key levels to a clear bearish market structure break. Institutional order blocks and fair value gaps confirm selling pressure, signaling a potential downtrend as bullish momentum weakens. Watch resistance near 1.3670–1.3690 for confirmations and key support zones for possible targets. Informed entries hinge on understanding these technical and institutional dynamics.
#Forex #USDCAD #TradingAnalysis
Canada’s economy contracted by 1.6% annualized in Q2 2024, defying forecasts of growth and highlighting risks from higher interest rates, weakening consumer spending, and a cooling housing market. This downturn puts pressure on the Bank of Canada’s next monetary policy moves as trade and investment also faltered. More detailed analysis reveals slowing durable goods purchases, declining housing investment, shrinking exports, and a modest rise in government spending. The outlook for Canadian growth now faces heightened uncertainty.
Canada’s economy contracted 1.6% annualized in Q2 2023, surprising analysts who expected growth. Weak consumer spending, falling exports, and lower business investment highlight mounting recession risks. This downturn intensifies pressure on the Bank of Canada to reconsider interest rate hikes amid a slowing economy.
