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USD/CAD Potential Upward Movement

USD/CAD Long-Term Trend: Bullish

Key Resistance Levels: 1.2635, 1.2701, 1.2778

Key Support Levels: 1.2575, 1.2524, 1.2457

Daily Time-frame:

The price on the higher time frame has been in a downtrend for the last many days and recently we saw rejection candles from the downside. Price has broken a small resistance point of 1.2575 and has maintained to trade above that. With good momentum, expect to see some good run.

USD/CAD Medium-Term Trend: Bullish

1-Hour Time-frame:

On the lower time frame, the price is moving in a higher-low, higher-high formation after breaking the consolidation zone. Recently price has broken a trendline channel and showing signs of strength.

Signal Idea:

Buy Limit Order @ 1.2591

TP 1 @ 1.2671

TP 2 @ 1.2711

Stop Loss @ 1.2550

Trade Safely 🙂

About Vipul Rathaur

A trader with more than six years of experience, Vipul is a discretionary trader and uses multi time frame analysis for his analysis and price action for his trade signals. Believes that risk management is the secret to making it in this world. He trades major Forex pairs, Indices, and Commodities.

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