USDCAD – Sell the Reversal at Key Resistance

53
Trade Idea
  • Type: Sell Limit
  • Entry: 1.3750
  • Target: 1.3650
  • Stop Loss: 1.3800

Risk/Reward Ratio: 2:1
Duration: Intraday
Expires: 04/06/2025 06:00

Technical Overview
  • The recent correction higher is likely complete, with price testing strong resistance near 1.3750.
  • A move through 1.3700 will confirm renewed bearish momentum.
  • This area aligns with multiple technical resistance levels, making it a strategic zone to initiate shorts.
  • The measured move target is 1.3625, but this setup looks to capture the move to 1.3650 for a higher probability win.


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