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 🙂