*USD/CAD: Bearish Reversal Imminent?*
A high-probability selling opportunity has emerged in the USD/CAD pair, with a critical resistance zone in play.
*Trade Parameters:*
- *Sell Zone:* 1.43300 - 1.43800
- *Profit Targets:*
- TP1: 1.42400
- TP2: 1.41500
- *Stop-Loss:* 1.44600
*Rationale:*
1. *Confluence of Resistance:* The USD/CAD pair has reached a robust resistance zone, where sellers are likely to intervene.
2. *Bearish Momentum:* Technical indicators are flashing bearish signals, hinting at a potential downturn.
3. *CAD Strength:* A resurgent Canadian Dollar, fueled by rising oil prices and a sturdy economy, may exacerbate the USD/CAD decline.
*Market Analysis:*
The USD/CAD pair is experiencing a consolidation phase following a recent upswing, with market participants exercising caution ahead of key economic data releases. A breach of the 1.42400 support level could precipitate a sharp decline.
*Trading Plan:*
Sell USD/CAD within the designated zone (1.43300 - 1.43800), with a stop-loss at 1.44600. Utilize the profit targets to secure gains or adjust the stop-loss to break even.
Keep remembering the Travis with best wishes👍
A high-probability selling opportunity has emerged in the USD/CAD pair, with a critical resistance zone in play.
*Trade Parameters:*
- *Sell Zone:* 1.43300 - 1.43800
- *Profit Targets:*
- TP1: 1.42400
- TP2: 1.41500
- *Stop-Loss:* 1.44600
*Rationale:*
1. *Confluence of Resistance:* The USD/CAD pair has reached a robust resistance zone, where sellers are likely to intervene.
2. *Bearish Momentum:* Technical indicators are flashing bearish signals, hinting at a potential downturn.
3. *CAD Strength:* A resurgent Canadian Dollar, fueled by rising oil prices and a sturdy economy, may exacerbate the USD/CAD decline.
*Market Analysis:*
The USD/CAD pair is experiencing a consolidation phase following a recent upswing, with market participants exercising caution ahead of key economic data releases. A breach of the 1.42400 support level could precipitate a sharp decline.
*Trading Plan:*
Sell USD/CAD within the designated zone (1.43300 - 1.43800), with a stop-loss at 1.44600. Utilize the profit targets to secure gains or adjust the stop-loss to break even.
Keep remembering the Travis with best wishes👍
Trade active
Related publications
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.
Related publications
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.