USDCAD Breakout Setup Brewing — Watch These Key Zones Closely!

USDCAD is sitting on a major demand zone around 1.38579 — clearly marked by the orange box. We’ve seen strong rejections here in the past, and price is now consolidating at the very edge of this zone.

Above us, there’s a key resistance level at 1.40664, aligning with the supply zone (blue box). This creates a beautiful range-trading opportunity or even a potential breakout play.


---

What to Watch:

1. Bullish Scenario (Green Arrows):

If price holds this demand zone, we may see a bounce to 1.40664 or even a clean breakout toward 1.42000.

Watch for a strong bullish engulfing candle or liquidity sweep at the bottom of the zone.

Confirmation could be an impulsive move up with volume.


2. Bearish Break (Low Probability for Now):

If price breaks and closes below 1.38500, expect a deeper drop — but volume and structure will confirm this.

Look for a retest of the zone from below before shorting.



---

Why This Setup Matters:

Order blocks and supply/demand zones show where smart money trades.

Combining price action + structure + zones gives you a high-probability edge.

No need for indicators — just read the chart and wait for confirmation.



---

My Plan:

I’m watching this zone closely for a bullish reaction. If I get a clean entry signal, I’ll target 1.40664 and trail my stop.

Risk management is key — no FOMO.


---

What Do You Think?

Will USDCAD bounce or break?

Drop your thoughts in the comments and let’s learn together!



---

Follow for More:

If you like clean price action setups like this, follow me for more daily updates and trading ideas.