Usdcad signal

5 Ogo

The USD/CAD 1-hour chart you provided shows a range-bound market with clear support and resistance levels. Here’s a breakdown of the analysis:


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Key Levels:

Resistance: Around 1.38346

Support Zones:

1.38032 (Minor support, now resistance)

1.37588

1.37314 (Stronger support)




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Current Price:

1.37818, which is in the middle of the current range.


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Price Action & Pattern:

The chart shows a sideways movement (consolidation) after a downtrend.

There is a drawn projection with two possible scenarios:

1. Bounce from support at 1.37588 → retest of 1.38032


2. Break below 1.37588 → drop to next support at 1.37314


Interpretation

Bullish Scenario
If price bounces from 1.37588, expect a possible move toward 1.38032 or even 1.38346 if bullish momentum builds

Bearish Scenario
If price breaks and closes below 1.37588, we could see a continuation toward 1.37314. A break of that would confirm further downside

Trading Idea

Sell on Breakout:
Below 1.37588, with target 1.37314, and stop above 1.37800

Buy on Bounce
From 1.37588, targeting 1.38032, with stop below 1.37450

Let me know if you want this analysis in Urdu or Sindhi, or need help with a trade setup

6 Ogo

Dagangan aktif

Usdcad sell hit

6 Ogo

Dagangan ditutup: sasaran tercapai

Usdcad signal sell Target