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USD/CAD Potential Upward Movement

USD/CAD Long-Term Trend: Bullish

Key Resistance Levels: 1.2132, 1.2255, 1.2300

Key Support Levels: 1.2059, 1.2003, 1.1942

Daily Chart:

The price on the daily time frame is trending to the downside by posting lower lows and highs. Currently, the market failed to probe below the 1.2059 USD mark. we have a potential of a reversal where the market might start to trend to the upside.

USD/CAD Medium-Term Trend: Bullish

1-hour Chart:

On the 1 – hour time frame, the pair succeeded to break the bearish channel to the upside where it holds above the highlighted zone further movement to the upside might be seen toward our target profit.

Signal Idea:

Buy Market Order @ 1.2085

TP 1 @ 1.2132

TP 2 @ 1.2255

Stop Loss @ 1.2061

Trade Safely 🙂

About Joe Damien

Joe is a proven Forex analyst and manual trader with 6 years of full-time trading experience. He is a swing trader that relies on price action, market structure and Fibonacci retracement. His two most successful pairs are CHF/JPY, CAD/JPY, but his expertise allows him to profit on any asset or pair.

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