The price perfectly fulfilled my previous idea. 
USDCAD is retracing from the recent Higher High after stalling at the resistance zone. The structure has shifted into a compression channel followed by a breakout sequence that faded into a range. Price is now hovering just above support and aligned with the downward trendline, setting up a reaction point. A rebound from this zone could trigger an upward projection back toward 1.3839.
📉 Key Levels
💡 Risks
USDCAD is retracing from the recent Higher High after stalling at the resistance zone. The structure has shifted into a compression channel followed by a breakout sequence that faded into a range. Price is now hovering just above support and aligned with the downward trendline, setting up a reaction point. A rebound from this zone could trigger an upward projection back toward 1.3839.📉 Key Levels
- Buy trigger: Hold above 1.3760
- Buy zone: Support area near 1.3760–1.3780
- Target: 1.3839
- Invalidation: Breakdown below 1.3693
💡 Risks
- Failure to hold the support zone at 1.3760 would negate the bullish case.
- Strength in the Canadian dollar from oil market volatility could weigh on upside potential.
- U.S. economic data surprises (PCE or jobs) could reinforce bearish momentum.
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.