USD/CAD is currently forming a bullish reversal setup, which often signals a potential upside move.
Right now, the price is testing a key support and a historical demand zone, while also printing a Morning Star candlestick pattern on the daily timeframe, which is a classic bullish reversal signal. ⚠️
If buyers hold the trendline and we see a breakout above the recent minor high around 1.3950, we could see a bullish move toward the 1.4050–1.4170 zone. 🎯
🔹 Trade Setups to Consider:
1️⃣ Aggressive Long (Based on Morning Star Pattern) 📍 Entry: 1.3915
🛑 Stop Loss: 1.38143
🎯 Targets: 1.40248 ➡️ 1.41290
💬 What’s your view on USD/CAD? Drop your thoughts below 👇
#Forex #TradingSetup #PriceAction #TechnicalAnalysis #TradeIdeas #FX #USDCAD #Reversal #MorningStar #CandlestickPatterns #TrendlineSupport
Right now, the price is testing a key support and a historical demand zone, while also printing a Morning Star candlestick pattern on the daily timeframe, which is a classic bullish reversal signal. ⚠️
If buyers hold the trendline and we see a breakout above the recent minor high around 1.3950, we could see a bullish move toward the 1.4050–1.4170 zone. 🎯
🔹 Trade Setups to Consider:
1️⃣ Aggressive Long (Based on Morning Star Pattern) 📍 Entry: 1.3915
🛑 Stop Loss: 1.38143
🎯 Targets: 1.40248 ➡️ 1.41290
💬 What’s your view on USD/CAD? Drop your thoughts below 👇
#Forex #TradingSetup #PriceAction #TechnicalAnalysis #TradeIdeas #FX #USDCAD #Reversal #MorningStar #CandlestickPatterns #TrendlineSupport
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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.