USD/CAD Potential Upward Movement

USD/CAD Long-Term Trend: Bullish

Key Resistance Levels: 1.2978, 1.3024, 1.3078

Key Support Levels: 1.2868, 1.2804, 1.2695

4-Hour Chart:

The price on the higher time frame was trending in the downwards direction and faced a rejection from around 1.2520 level and reversed the direction. The two resistance levels of 1.2787 and 1.2882 have been broken and good momentum is seen in the price.

USD/CAD Medium-Term Trend: Bullish

30-Minute Chart:

On the lower time frame, the pair is moving in the major trend’s direction. The price has formed a higher-high, higher-low pattern and respecting the trendline. it recently retested the minor level of 1.2868 and continuing the momentum again. 

Signal Idea:

Buy Stop Order @ 1.2914

TP 1 @ 1.2975

TP 2 @ 1.3097

Stop Loss @ 1.2853

Trade Safely 🙂