📉 USDCAD — Major Channel Breakdown Could Trigger a Larger Correction
USDCAD has finally slipped out of the multi-month ascending channel that has guided price since late summer. This is the first clean break and retest we’ve seen in months — a strong technical signal that bullish momentum may be exhausted.
Price is now rejecting the underside of the broken channel as fresh resistance. As long as the pair holds below the 1.3980–1.4000 zone, downside continuation remains the higher-probability path.
A sustained move lower opens the way toward the 1.3850 region, with deeper targets aligning around 1.3750 if momentum accelerates.
Bearish bias remains valid unless price reclaims the broken structure with a daily close back inside the channel.
#USDCAD #ForexAnalysis #TradingView #FXSetups #PriceAction #ChannelBreak #TechnicalAnalysis #SmartMoneyConcepts #ForexCommunity #SwingTrading
If this analysis helps your trading, feel free to follow and engage — more clean chart breakdowns coming daily.
Precision setups. Smart execution. PulseTradesFX.
USDCAD has finally slipped out of the multi-month ascending channel that has guided price since late summer. This is the first clean break and retest we’ve seen in months — a strong technical signal that bullish momentum may be exhausted.
Price is now rejecting the underside of the broken channel as fresh resistance. As long as the pair holds below the 1.3980–1.4000 zone, downside continuation remains the higher-probability path.
A sustained move lower opens the way toward the 1.3850 region, with deeper targets aligning around 1.3750 if momentum accelerates.
Bearish bias remains valid unless price reclaims the broken structure with a daily close back inside the channel.
#USDCAD #ForexAnalysis #TradingView #FXSetups #PriceAction #ChannelBreak #TechnicalAnalysis #SmartMoneyConcepts #ForexCommunity #SwingTrading
If this analysis helps your trading, feel free to follow and engage — more clean chart breakdowns coming daily.
Precision setups. Smart execution. PulseTradesFX.
Related publications
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.
Related publications
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.