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USD/CAD Potential Upward Movement

USD/CAD Long-Term Trend: Bullish

Key Resistance Levels: 1.2885, 1.2941, 1.3049

Key Support Levels: 1.2764, 1.2681, 1.2601

Daily Time-frame:

The price on the higher time frame has been trading in a range for weeks and recently it tried to break to the downside but faced rejection. Price reversed to the upside with good momentum and it has now broken the range to the upside. Expect the pair to sustain above with USD being strong.

USD/CAD Medium-Term Trend: Bullish

1-Hour Time-frame:

On the lower time frame, the price has shown a reversal from the downside and has broken a resistance zone of 1.2748. Price sustained above that zone and formed minor support at 1.2794 we expect the move to continue if the price holds above this support.

Signal Idea:

Buy Stop Order @ 1.2824

TP 1 @ 1.2864

TP 2 @ 1.2907

Stop Loss @ 1.2784

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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