Bearish momentum to meet support on USDCAD: Looking for a bounce

5 Jun

Evening, just wanted to share what I’m seeing on the USDCAD chart

Price on USDCAD has been in clear bearish momentum, but we’re now approaching a strong support zone, that’s held firm multiple times before, as I marked it on my chart. Price is approaching the zone again and I am taking it into account for a potential bounce.

I’ll be watching for bullish confirmation as usual requirement before entering. If that support holds, I’m targeting 1.38400, totally achievable if momentum shifts.

BUT, if this zone breaks with momentum, I’ll reassess it and stay flexible.

💡 Reminder: Patience is power, no entry until price shows me something worth reacting to. This is not financial advice.

7 hari lalu

Dagangan aktif

It reached the zone, now I expect to see a slight dip into the zone followed by the anticipated bounce

semalam

Nota

Good bounce, it climbs with strength currently