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USD/CAD Potential Upward Movement

USD/CAD Long-Term Trend: Bullish

Key Resistance Levels: 1.3233, 1.3298, 1.3329

Key Support Levels: 1.3150, 1.3071, 1.2981

Daily Chart:

The price on the higher time frame has been in an uptrend recently. It has done a pullback and found support at the 1.2862 level. The pair bounced back after testing that area and has broken another level of 1.3079 which indicates a bearish bias.

USD/CAD Medium-Term Trend: Bullish

1-Hour Chart:

On the lower time frame, the pair is moving in the major trend’s direction. The price has broken a resistance level of 1.3071 with good momentum and sustained above that. It has also now broken and retested a minor level of 1.3150 before continuing the momentum.

Signal Idea:

Buy Stop Order @ 1.3180

TP 1 @ 1.3224

TP 2 @ 1.3312

Stop Loss @ 1.3136

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.

2 comments

  1. SL was hit! (02.09.202 / 10:21 MESZ)

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