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USD/CAD Potential Upward Movement

USD/CAD Long-Term Trend: Bullish

Key Resistance Levels: 1.3769, 1.3821, 1.3896

Key Support Levels: 1.3684, 1.3634, 1.3535

Daily Chart:

The price on the higher time frame has been in an uptrend for some time. It broke a resistance level of 1.3074 and sustained above that. Recently the pair has found support at the 1.3499 level and bounced back after testing that level.    

USD/CAD Medium-Term Trend: Bullish

1-Hour Chart:

On the lower time frame, the pair is moving in the major trend’s direction. It has broken a consolidation zone of 1.3535 and 1.3634 to the upside and sustained above that. The pair has also broken and retested another level of 1.3684 before continuing the momentum.

Signal Idea:

Buy Limit Order @ 1.3727

TP 1 @ 1.3779

TP 2 @ 1.3883

Stop Loss @ 1.3675

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. Hello is this trade still active because trade hit take profit but but the trade was not active didn’t hit 1.37270 it was very close What should we do in this case? Should I cancel?

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