USDCAD, 4H timeframe
Current Price Action
Price is trading around 1.3737.
There was a break below the support zone at 1.3775 (highlighted in blue).
The Ichimoku cloud and moving averages confirm bearish momentum.
The green arrow drawn indicates a projected move lower.
Target Zone
The chart marks a target point around 1.3560 (1.35609 to be precise).
This zone also aligns with previous structure support (marked by the thick horizontal dark area).
Summary
✅ Immediate downside target: 1.3560
⚠ If price fails to hold below 1.3775 and pulls back above the cloud, then the bearish scenario weakens, and a retest toward 1.3825 becomes possible.
👉 So my target is 1.3560, as long as bearish momentum continues and price stays under 1.3775.
Current Price Action
Price is trading around 1.3737.
There was a break below the support zone at 1.3775 (highlighted in blue).
The Ichimoku cloud and moving averages confirm bearish momentum.
The green arrow drawn indicates a projected move lower.
Target Zone
The chart marks a target point around 1.3560 (1.35609 to be precise).
This zone also aligns with previous structure support (marked by the thick horizontal dark area).
Summary
✅ Immediate downside target: 1.3560
⚠ If price fails to hold below 1.3775 and pulls back above the cloud, then the bearish scenario weakens, and a retest toward 1.3825 becomes possible.
👉 So my target is 1.3560, as long as bearish momentum continues and price stays under 1.3775.
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Penafian
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📲 Join telegram channel free ..
t.me/RSI_Trading_Point4
Forex, Gold & Crypto Signals with detailed analysis & get consistent results..
t.me/RSI_Trading_Point4
Gold Signal's with proper TP & SL for high profit opportunities..
t.me/RSI_Trading_Point4
Forex, Gold & Crypto Signals with detailed analysis & get consistent results..
t.me/RSI_Trading_Point4
Gold Signal's with proper TP & SL for high profit opportunities..
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.