USDCAD is reacting firmly inside a high-value support pocket, where the channel baseline, prior demand, and heavy volume clustering align — a classic area where sentiment often shifts.
Despite the market already pricing in December Fed rate cuts, short-term price behavior on this pair remains resilient. The latest bounce suggests that buyers are stepping back in, keeping my near-term outlook tilted to the upside, with room for a rotation toward the 1.4080 zone if momentum continues to build. However, if price breaks below the current support zone, USDCAD could slide even further, opening the door to a deeper corrective leg.
The real question now is:
Are we witnessing the beginning of a genuine recovery leg, or just a temporary relief move before direction resets?
Based on :
- fundamental analysis
- volume and quantitative analysis
Despite the market already pricing in December Fed rate cuts, short-term price behavior on this pair remains resilient. The latest bounce suggests that buyers are stepping back in, keeping my near-term outlook tilted to the upside, with room for a rotation toward the 1.4080 zone if momentum continues to build. However, if price breaks below the current support zone, USDCAD could slide even further, opening the door to a deeper corrective leg.
The real question now is:
Are we witnessing the beginning of a genuine recovery leg, or just a temporary relief move before direction resets?
Based on :
- fundamental analysis
- volume and quantitative analysis
Trade closed: stop reached
SL reached -1rr
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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.