We are setting a buy target at 1.362 for USD/CAD, identified as a key pivot support on the daily chart, where recent indecisive price action has led to sideways congestion. This level presents a strategic entry point, anticipating a potential reversal.
The confirmation of bullish momentum will be signaled by a breakthrough above 1.365. Current trading levels suggest caution, as the risk/reward ratio may not yet favor aggressive positioning. Traders should monitor for a clear move through 1.365 to validate the expected upward trajectory.
Our take profit is set at the 38.2% Fibonacci retracement level of 1.37, aligning with our analysis for a strong upward movement.
The confirmation of bullish momentum will be signaled by a breakthrough above 1.365. Current trading levels suggest caution, as the risk/reward ratio may not yet favor aggressive positioning. Traders should monitor for a clear move through 1.365 to validate the expected upward trajectory.
Our take profit is set at the 38.2% Fibonacci retracement level of 1.37, aligning with our analysis for a strong upward movement.
Note
News almost ruined the trade either way here we go!!!Adjust stop loss to 1.358
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My free signals
t.me/+pknBOliLTkI1Mjk5
Contact me
t.me/Eleazarahmath
Twitter
x.com/Elitepipmaster
t.me/+pknBOliLTkI1Mjk5
Contact me
t.me/Eleazarahmath
x.com/Elitepipmaster
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.