USDCAD Bullish Forecast (54 Pips)
Current Price: Check live price (e.g., ~1.3650).
Target: 1.3704 (+54 pips from entry).
Stop Loss (SL): Below support (e.g., ~1.3620, 30-pip risk).
Key Levels:
Support: 1.3630–1.3620 (pullback zone).
Resistance: 1.3700 (psychological level), then 1.3750.
Bullish Drivers:
USD Strength: If Fed signals hawkish policy or risk-off mood lifts USD.
Oil Price Drop: Weak crude oil (CAD negative) could boost USDCAD.
Technical Breakout: Rising from a trendline or moving average (e.g., 50 EMA).
Trade Plan:
Entry: On pullback to 1.3630–1.3640 or breakout above 1.3670.
Exit: Take profit at 1.3704 (scaled exits optional).
Risk Management: 1:2 R/R (30-pip SL, 54-pip TP).
Current Price: Check live price (e.g., ~1.3650).
Target: 1.3704 (+54 pips from entry).
Stop Loss (SL): Below support (e.g., ~1.3620, 30-pip risk).
Key Levels:
Support: 1.3630–1.3620 (pullback zone).
Resistance: 1.3700 (psychological level), then 1.3750.
Bullish Drivers:
USD Strength: If Fed signals hawkish policy or risk-off mood lifts USD.
Oil Price Drop: Weak crude oil (CAD negative) could boost USDCAD.
Technical Breakout: Rising from a trendline or moving average (e.g., 50 EMA).
Trade Plan:
Entry: On pullback to 1.3630–1.3640 or breakout above 1.3670.
Exit: Take profit at 1.3704 (scaled exits optional).
Risk Management: 1:2 R/R (30-pip SL, 54-pip TP).
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.
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.