USDCAD 8D TECHNICAL ANALYSIS
OVERALL TREND
๐ DOWNTREND โ Confirmed by multiple moving averages stacked bearishly and recent breakdown from a Pivot High at 1.46560. The Trend Score reads -0.10, signaling growing bearish sentiment, though the current downtrend confidence is moderate (4.8%).
๐ดRESISTANCE ZONE
๐ฏENTRIES & TARGETS
๐ขSUPPORT ZONE
๐INDICATOR SUMMARY
๐คSTRUCTURAL NOTES
TRADE OUTLOOK ๐
๐งชSTRATEGY RECOMMENDATION
CONSERVATIVE APPROACH (Trend-Following):
โ Entry: 1.43772 retest
โ TP Levels: 1.38464 / 1.34004 / 1.30718 / 1.25643
โ SL: Above 1.46560
AGGRESSIVE APPROACH (Breakout Pullback):
โ Entry: On break and close below 1.38464
โ TP: 1.34004 / 1.30718 / 1.25643
โ SL: Above 1.40900
โDiscipline | Consistency | PAY-tienceโขโ โ Let the chart speak and the setup confirm.
OVERALL TREND
๐ DOWNTREND โ Confirmed by multiple moving averages stacked bearishly and recent breakdown from a Pivot High at 1.46560. The Trend Score reads -0.10, signaling growing bearish sentiment, though the current downtrend confidence is moderate (4.8%).
๐ดRESISTANCE ZONE
- ๐ด 1.47937 โ PIVOT HIGH | SELL STOPLOSS
- ๐ด 1.46560 โ SELL ORDER 2
- ๐ด 1.43772 โ SELL ORDER 1
๐ฏENTRIES & TARGETS
- ๐ฏ 1.38464 โ SELL ORDER & TP 1
- ๐ฏ 1.34004 โ SELL ORDER & TP 2 | Mid-Pivot
- ๐ฏ 1.30718 โ SELL ORDER & TP 3
- ๐ฏ 1.25643 โ EXIT SELL | TP 4
๐ขSUPPORT ZONE
- ๐ข 1.24442 โ BUY ORDER 1
- ๐ข 1.21463 โ BUY ORDER 2
- ๐ข 1.20070 โ PIVOT LOW | BUY STOPLOSS
๐INDICATOR SUMMARY
- RSI @ 37 โ Near oversold, but neutral
- MACD โ Bearish divergence confirmed (Sell)
- Momentum โ Weak bullish rebound (Buy)
- Stochastic %K โ Neutral but nearing oversold (14.64)
- Major Moving Averages โ Mostly bearish alignment (20/30/50/100/200 EMAs & SMAs all showing Sell)
๐คSTRUCTURAL NOTES
- Bearish engulfing candle near 1.43772 resistance confirms sell-side pressure
- Price rejected near the Pivot High zone (1.46560) and has broken below short-term support
- EMA/SMA crossover downward confirms bearish acceleration
- Volume Weighted MA also supports a downside continuation
TRADE OUTLOOK ๐
- ๐ Short Bias โ Valid below 1.43772 with target zones between TP1 @ 1.38464 and TP4 @ 1.25643
- ๐ Long setups only initiate below 1.24442 support bounce with confluence at the BUY STOP zone (1.20070)
- ๐ Watch price action at 1.38464 and 1.34004 โ key decision zones for mid-trend reversal or continuation
๐งชSTRATEGY RECOMMENDATION
CONSERVATIVE APPROACH (Trend-Following):
โ Entry: 1.43772 retest
โ TP Levels: 1.38464 / 1.34004 / 1.30718 / 1.25643
โ SL: Above 1.46560
AGGRESSIVE APPROACH (Breakout Pullback):
โ Entry: On break and close below 1.38464
โ TP: 1.34004 / 1.30718 / 1.25643
โ SL: Above 1.40900
โDiscipline | Consistency | PAY-tienceโขโ โ Let the chart speak and the setup confirm.
Professor C. E. Ward
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.
Professor C. E. Ward
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.