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USD/CAD Potential Upward Movement

USD/CAD Long-Term Trend: Bullish

Key Resistance Levels: 1.25382, 1.26059, 1.27617.

Key Support Levels: 1.24343, 1.23844, 1.23020

Daily Chart:

The price on the higher time frame posted a Wyckoff accumulation phase at the bottom which led to a reversal and a breakout of the bearish channel to the upside. Now the main direction is upward where the market succeeded to break the 1.24330 CAD mark by a big bodied bullish bar showing that the buyers are in control. We expect further movement to the upside in the coming hours.

USD/CAD Medium-Term Trend: Bullish

1-Hr Chart:

On the lower time frame, the price found buyers around the 61.80 % Fibonacci retracement level where huge volatility appeared. We expect a slight lower correction before a new bullish impulsive wave toward the target profit.

Signal Idea:

Buy Market Order @ 1.24363

TP 1 @ 1.25341

TP 2 @ 1.26059

Stop Loss @ 1.23873

Trade Safely 🙂

In many cases we manually use market orders instead of pending orders to trade the trading ideas we send you. This is higher risk, and you can decide if it suits your trading style.

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.

8 comments

  1. how to you get to your vip group, for updates

  2. I am from india I am using your telegram signals since 2 week your signals are 💯 accurate and good should I hold usdcad @ to tp1 or I should exit and I am following you in Instagram and I have messaged you

  3. I’m still holding this trade and its now in profits .. what’s your advise .. should I hold till TP1

  4. First time I follow your free signal, I’m loss..😑 Bad news…

  5. Wow yesterday was awsome i taught today wont come so i can benefit with you thanks alot you are indeed a live saver

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