The price perfectly fulfilled my last idea. 
USDCAD is attempting to stabilize after a sharp drop from the 1.3696 resistance area, approaching the lower boundary of the falling wedge pattern. The price is testing the 1.3600–1.3550 support band, aligned with the blue descending trendline and historical pivot zones. A bullish rebound here could push the pair back toward 1.3696, while failure to hold exposes 1.3500 and lower.
📈 Key Levels
💡 Risks
USDCAD is attempting to stabilize after a sharp drop from the 1.3696 resistance area, approaching the lower boundary of the falling wedge pattern. The price is testing the 1.3600–1.3550 support band, aligned with the blue descending trendline and historical pivot zones. A bullish rebound here could push the pair back toward 1.3696, while failure to hold exposes 1.3500 and lower.📈 Key Levels
- Buy zone: 1.3550–1.3600
- Sell trigger: breakdown below 1.3550
- Target: 1.3696
- Buy trigger: breakout and retest of 1.3625–1.3650 zone
💡 Risks
- Bearish momentum continuation toward 1.3500 if bounce fails
- Weak volume recovery may trap buyers near 1.3620
- Rejection near descending red trendline can maintain bearish pressure
If this idea resonates with you or you have your own opinion, traders, hit the comments. I’m excited to read your thoughts!
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🌎WebSite: lingrid.org
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.
💰FREE FOREX signals in Telegram: bit.ly/3F4mrMi
🚀FREE CRYPTO signals in Telegram: t.me/cryptolingrid
🌎WebSite: lingrid.org
🚀FREE CRYPTO signals in Telegram: t.me/cryptolingrid
🌎WebSite: lingrid.org
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.