Trend: Bearish (Lower highs and lower lows)
Key Resistance / Invalidation Level: 1.38121
Current Price: ~1.3700–1.3750 range
Expected Move: Further downside towards the 1.3500–1.3420 area unless price breaks and closes above 1.38121.
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🎯 Trade Plan
Setup: Look for bearish entries on retracements towards the 1.3700–1.3750 area.
Invalidation: A confirmed breakout and close above 1.38121.
Target: 1.3500–1.3420 range.
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⚡️ Summary
USDCAD remains in a downtrend, making lower highs and lower lows. As long as price stays below 1.38121, the bearish outlook is favored.
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⚠️ Disclaimer
This is NOT financial advice. All trading involves significant risk, and you should only trade with money you can afford to lose. Always do your own analysis or consult with a qualified financial advisor before making any trading decisions.
Key Resistance / Invalidation Level: 1.38121
Current Price: ~1.3700–1.3750 range
Expected Move: Further downside towards the 1.3500–1.3420 area unless price breaks and closes above 1.38121.
---
🎯 Trade Plan
Setup: Look for bearish entries on retracements towards the 1.3700–1.3750 area.
Invalidation: A confirmed breakout and close above 1.38121.
Target: 1.3500–1.3420 range.
--
⚡️ Summary
USDCAD remains in a downtrend, making lower highs and lower lows. As long as price stays below 1.38121, the bearish outlook is favored.
---
⚠️ Disclaimer
This is NOT financial advice. All trading involves significant risk, and you should only trade with money you can afford to lose. Always do your own analysis or consult with a qualified financial advisor before making any trading decisions.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.