USD/CAD Potential Upward Movement

USD/CAD Long-Term Trend: Bullish

Key Resistance Levels: 1.3763, 1.3849, 1.3875

Key Support Levels: 1.3562, 1.3471, 1.3306

Daily Chart:

The price on the higher time frame has been in an uptrend for some time after it broke the consolidation zone of 1.2456 and 1.2803. The pair also broke another resistance level of 1.3074 recently and has been showing great momentum. 

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 shown good strength and has broken a resistance level of 1.3306. It found support at the 1.3471 level and bounced back after testing it. The pair has also broken and retested a minor level of 1.3562 before continuing the momentum.

Signal Idea:

Buy Stop Order @ 1.3647

TP 1 @ 1.3746

TP 2 @ 1.3845

Stop Loss @ 1.3548

Trade Safely 🙂