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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Forex, Gold & Crypto Signals with detailed analysis & get consistent results..
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Gold Signal's with proper TP & SL for high profit opportunities..
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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.
📲 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..
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.