USDCAD Bullish

Analysis Price: 1.3621 (Updated: 13 June 2025, 10:48 UTC)

Comprehensive analysis for USDCAD showing a predominantly bullish bias with 71% bullish consensus based on combined analytical factors. Market structure, technical patterns, and key levels examined across multiple timeframes.

Select Currency Pair

Signal Overview

Bullish High Confidence Low Risk

Market Consensus:

71% Long

29% Short

Valid Timeframes:

M15 H1 H4 D1

Signal Analysis:

The analysis indicates a high confidence bullish bias for USDCAD (signal strength: 42%). Supporting factors include: High probability (95%) support zone detected at 1.3400; Retail sentiment is 62% bullish. Contradicting factors: USD is showing relative weakness against CAD (diff: 46%). Risk assessment for this trade is low. This signal is most valid on the M15, H1, H4, D1 timeframes.

Sentiment Analysis

LONG SHORT

62% 38%

Historical Sentiment (7 Days)

Sentiment Interpretation

Bullish sentiment with 62% of traders holding long positions. The market has a positive bias, but watch for signs of exhaustion if this percentage increases further.

Support & Resistance Analysis

Resistance Levels

R1: 1.3676 0.41% ↑

Analysis Price: 1.3621

Support Levels

S1: 1.3599 0.16% ↓

Market Regime:

Downtrend

Analyst Bias:

Unknown

Direction Probability:

60%

Price Position Analysis

Price is currently near support at 1.3599 (0.16% below analysis price) with resistance at 1.3676 (0.41% above). This position near support could present a potential buying opportunity with a favorable risk-reward ratio.

Chart Pattern Analysis

73%

Rectangle

Reliability:

73%

Detected: Jun 13, 06:25

Pattern Analysis Interpretation

Predominantly neutral patterns detected, suggesting a potential consolidation phase. The most reliable pattern is a neutral Rectangle on the H1 timeframe with 73% historical reliability. This pattern is currently only confirmed on the H1 timeframe.

High Probability Zones

Support Zone

95%

Zone Level:

1.3400

analysis price:

1.3621

Distance:

1.62%

Confluence Factors:

Double Bottom 127% Extension

Valid on Timeframes:

H1 H4 D1 W1

Support Zone

70%

Zone Level:

1.3000

analysis price:

1.3621

Distance:

4.56%

Confluence Factors:

Hammer 61.8% Retracement

Valid on Timeframes:

H1 H4 D1 W1

High Probability Zones Interpretation

Price is approaching a high probability (95%) support zone at 1.3400, currently 1.62% away. Consider preparing a buy strategy as price approaches this level, watching for confirmation signals.

Multiple high probability zones exist for this pair, indicating a well-structured technical environment with clear levels for trading decisions.

Volatility Analysis

Select Timeframe:

Daily Range (pips):

85.0

Volatility Regime:

Normal

Volatility Level:

49%

10-Day ATR Trend

Volatility Interpretation (H1)

USDCAD is showing normal volatility (49 percentile) with an expected daily range of 85.0 pips. This represents average market conditions conducive to standard trading strategies. Standard position sizing and stop loss parameters are appropriate.

Correlation Analysis

Top Correlations with USDCAD

CADCHF

-0.90

CADJPY

-0.84

AUDCAD

0.82

GBPCAD

0.73

USDCHF

0.70

Correlation Interpretation

Understanding how USDCAD correlates with other pairs can help with portfolio diversification and risk management. Strong positive correlations (above 0.7) indicate pairs that move similarly, while strong negative correlations (below -0.7) show pairs that typically move in opposite directions.

USDCAD shows strong positive correlation with: AUDCAD, GBPCAD, USDCHF. This means these pairs tend to move in the same direction. Trading in the same direction on multiple correlated pairs increases portfolio risk, while finding divergences between correlated pairs can highlight potential reversal opportunities.

USDCAD shows strong negative correlation with: CADCHF, CADJPY. This means these pairs tend to move in opposite directions. Negatively correlated pairs can be useful for hedging strategies or to confirm signals (a buy signal in one pair would be supported by a sell signal in the negatively correlated pair).

Currency Strength Analysis

Select Timeframe:

USD

-0.97

Very-weak

CAD

-0.59

Weak

Relative Strength:

-0.38

Bearish Bias

Currency Strength Interpretation (M15)

CAD is moderately stronger than USD on the M15 timeframe, with a relative strength of -0.38. This suggests a mild bearish bias for USDCAD. Monitor for additional confirmation signals before entering a short position.

How to Use This Analysis

This comprehensive analysis provides multiple perspectives on USDCAD to help inform your trading decisions:

Sentiment Analysis: Use to understand market positioning and potential contrarian opportunities
Support & Resistance: Identify key price levels for setting stop losses and take profits
Pattern Analysis: Recognize technical formations that may indicate continuation or reversal
Volatility Analysis: Adjust position sizing and risk management based on current market conditions
Currency Strength: Compare the relative performance of individual currencies within the pair
Correlation Analysis: Understand how this pair moves in relation to others for portfolio diversification

For optimal results, consider how these different factors align. The strongest trading opportunities typically occur when multiple analytical tools show confirmation across different timeframes.