USDCAD Technical Analysis
Price action has broken below the established upward trendline, indicating a potential shift in market structure. At this stage, a corrective pullback toward the broken trendline is anticipated. A confirmed retest of this level will provide a higher-probability entry opportunity aligned with the emerging bearish momentum.
Additionally, the 50-EMA is acting as dynamic resistance, reinforcing the downside bias as price struggles to trade above it. Should the retest hold and bearish confirmation signals appear, downside targets can be projected toward key support zones located beneath the former trendline structure.
Price action has broken below the established upward trendline, indicating a potential shift in market structure. At this stage, a corrective pullback toward the broken trendline is anticipated. A confirmed retest of this level will provide a higher-probability entry opportunity aligned with the emerging bearish momentum.
Additionally, the 50-EMA is acting as dynamic resistance, reinforcing the downside bias as price struggles to trade above it. Should the retest hold and bearish confirmation signals appear, downside targets can be projected toward key support zones located beneath the former trendline structure.
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Smart trades begin with smart signals. Join us
t.me/Pro_Chart_Analysis
Gold, Forex & Crypto
Your edge starts here
t.me/Pro_Chart_Analysis
t.me/Pro_Chart_Analysis
Gold, Forex & Crypto
Your edge starts here
t.me/Pro_Chart_Analysis
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.