🔍 USDCAD Technical Analysis (4H Timeframe)
🧠 Key Technical Insight:
▪️ Strong Demand Zone: Price has entered a historically significant demand zone near the 1.3400-1.3500 range, which previously triggered a sharp bullish reversal.
▪️ Bullish Reversal Potential: The recent bearish trend shows signs of exhaustion, with a potential reversal setup forming in the demand area.
▪️Consolidation Zone Above: The 1.3900-1.4050 region is identified as a supply zone or potential target for a bullish move, should the reversal confirm.
▪️ Outlook: Watch for bullish confirmation (rejection candles, higher lows) within the demand zone to anticipate a recovery toward the supply/target area.
📈 Trading Bias:
Bullish Bias - Awaiting confirmation within the demand zone for a potential long entry targeting 1.3900-1.4000.
🔹Community Insight:
If you find this analysis helpful in your trading journey, feel free to share your thoughts or questions in the comments. Let’s work together to maintain a disciplined, technical approach to the markets.
▪️Follow for regular updates and trade setups.
🧠 Key Technical Insight:
▪️ Strong Demand Zone: Price has entered a historically significant demand zone near the 1.3400-1.3500 range, which previously triggered a sharp bullish reversal.
▪️ Bullish Reversal Potential: The recent bearish trend shows signs of exhaustion, with a potential reversal setup forming in the demand area.
▪️Consolidation Zone Above: The 1.3900-1.4050 region is identified as a supply zone or potential target for a bullish move, should the reversal confirm.
▪️ Outlook: Watch for bullish confirmation (rejection candles, higher lows) within the demand zone to anticipate a recovery toward the supply/target area.
📈 Trading Bias:
Bullish Bias - Awaiting confirmation within the demand zone for a potential long entry targeting 1.3900-1.4000.
🔹Community Insight:
If you find this analysis helpful in your trading journey, feel free to share your thoughts or questions in the comments. Let’s work together to maintain a disciplined, technical approach to the markets.
▪️Follow for regular updates and trade setups.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.