Technical Analysis Of USD/CAD
🔍 Technical Overview – USD/CAD
📈 Structure & Trend
- Price previously followed a strong upward trend, respecting the rising trendline.
- A clear consolidation zone was formed near the recent highs, signaling indecision before the sell-off.
🔻 Breakdown & Support
- The price broke below the upward trendline and retraced toward the 1.3800–1.3900 support area, which was a previous resistance.
- This zone is now acting as a key support level (resistance turned support).
🔄 Potential Reversal Setup
- Bullish wicks near the support suggest a potential reversal attempt.
- If support holds, the pair may rally back toward the target area between 1.4050 – 1.4190.
📌 Key Levels to Watch
- Support Zone: 1.3800 – 1.3900
- Resistance / Target Area: 1.4050 – 1.4190
- Invalidation Level: Below 1.3750 (strong bearish continuation risk)
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🔍 Technical Overview – USD/CAD
📈 Structure & Trend
- Price previously followed a strong upward trend, respecting the rising trendline.
- A clear consolidation zone was formed near the recent highs, signaling indecision before the sell-off.
🔻 Breakdown & Support
- The price broke below the upward trendline and retraced toward the 1.3800–1.3900 support area, which was a previous resistance.
- This zone is now acting as a key support level (resistance turned support).
🔄 Potential Reversal Setup
- Bullish wicks near the support suggest a potential reversal attempt.
- If support holds, the pair may rally back toward the target area between 1.4050 – 1.4190.
📌 Key Levels to Watch
- Support Zone: 1.3800 – 1.3900
- Resistance / Target Area: 1.4050 – 1.4190
- Invalidation Level: Below 1.3750 (strong bearish continuation risk)
Thanks for your support!
If you found this idea helpful, drop a like 👍 and leave a comment, I’d love to hear your thoughts! 🚀
Make sure to follow me for more price action insights, and trading strategies. Let’s grow and trade smarter together! 📈
Trade active
Note
Price reacted from 1.37500Trade closed: target reached
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💸FREE FOREX Signals in Telegram : t.me/FxInsightsHub0
🔹Join Our Telegram Channel, Pure Price Action Based Signals With Chart Analysis.
t.me/FxInsightsHub0
🚀FREE CRYPTO Signals In Telegram: t.me/FxInsightsHub0
🔹Join Our Telegram Channel, Pure Price Action Based Signals With Chart Analysis.
t.me/FxInsightsHub0
🚀FREE CRYPTO Signals In Telegram: t.me/FxInsightsHub0
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.