USDCAD has moved from a strong bullish rally into a clear shift in momentum. After breaking structure with an aggressive drop, price is now moving inside a rising channel that looks more corrective than impulsive.
The previous bullish phase was defined by higher highs and higher lows, but the sharp decline highlighted a potential change in sentiment. Since then, the market has been consolidating, with price pushing higher in a slower and corrective manner.
As long as price remains inside this channel, the bias stays bearish, and I’ll be looking for shorts from the upper boundary around the 1.3880–1.3900 zone. A break below the lower bound near 1.3820 could confirm continuation to the downside.
This is a critical zone for USDCAD, where sellers may step in to regain control.
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Richard Nasr
The previous bullish phase was defined by higher highs and higher lows, but the sharp decline highlighted a potential change in sentiment. Since then, the market has been consolidating, with price pushing higher in a slower and corrective manner.
As long as price remains inside this channel, the bias stays bearish, and I’ll be looking for shorts from the upper boundary around the 1.3880–1.3900 zone. A break below the lower bound near 1.3820 could confirm continuation to the downside.
This is a critical zone for USDCAD, where sellers may step in to regain control.
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Richard Nasr
Trade closed: target reached
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RichTL.com
Telegram
t.me/thesignalyst
CFD broker - Tickmill
cutt.ly/TickmillReal
Veles - Create Trading Bots
veles.finance/invite/thesignalyst
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.
Trade Made Simple
RichTL.com
Telegram
t.me/thesignalyst
CFD broker - Tickmill
cutt.ly/TickmillReal
Veles - Create Trading Bots
veles.finance/invite/thesignalyst
RichTL.com
Telegram
t.me/thesignalyst
CFD broker - Tickmill
cutt.ly/TickmillReal
Veles - Create Trading Bots
veles.finance/invite/thesignalyst
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.