USDCAD Breakout consolidation and reversal from demand zone
USDCAD 4H Chart UpdatePair has broken out of consolidation and is now showing bullish momentum after tapping into a key demand zone.
Entry: 1.39100
Demand Zone (Bullish Order Block): 1.37600
Time Frame: 4H
Technical Targets:
1st Target: 1.40600 (Resistance Level)
2nd Target: 1.42500 (Supply Zone)
3rd Target: 1.43600 (Major Supply Zone)
Analysis:
Price respected the bullish order block around 1.37600 and has shown strong rejection, confirming bullish structure. With the breakout from consolidation, the pair is now poised to move higher toward successive resistance and supply zones.
Will be watching for continuation confirmations on lower time frames and managing risk accordingly.
Trade active
Trade Update – USDCADUSDCAD has now tapped into the entry level at 1.39100 as anticipated. Price action will be closely monitored as we look toward the projected target levels.Key Levels in Focus:
1st Target: 1.40600 (Resistance)
2nd Target: 1.42500 (Supply Zone)
3rd Target: 1.43600 (Major Supply Zone)
Bullish bias remains valid as long as price holds above the demand zone and maintains momentum.
Team Livia
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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.