USD/CAD has broken out of its descending channel forming a textbook bullish flag consolidation Price is currently hovering around 1.36461 with momentum favoring the upside.
Key Technical Insights:
Pattern: Symmetrical triangle evolved into a descending channel → recent bullish breakout suggests a shift in market sentiment.
Current Structure: A bullish flag is forming, indicating a potential continuation move if price holds above immediate support.
Upside Target: A confirmed breakout above the flag points to resistance near 1.3850–1.3900, aligning with previous structure highs.
What to Watch:
1. Bullish Scenario:
Hold above 1.3700 (flag support).
Clean breakout + retest confirms momentum toward 1.3850+.
2. Bearish Rejection:
Failure to stay above support could send price back to 1.3550 or lower.
Resistance Zone: 1.3850–1.3900
Support Zone: 1.3700 (bullish flag boundary)
Summary:
Momentum favors bulls as long as USD/CAD maintains structure above support. A breakout retest could offer a high-probability long entry toward key resistance levels. Patience and confirmation are essential!
Your likes and comments are incredibly motivating and will encourage me to share more analysis with you!
Best Regards TrendLinford!
Key Technical Insights:
Pattern: Symmetrical triangle evolved into a descending channel → recent bullish breakout suggests a shift in market sentiment.
Current Structure: A bullish flag is forming, indicating a potential continuation move if price holds above immediate support.
Upside Target: A confirmed breakout above the flag points to resistance near 1.3850–1.3900, aligning with previous structure highs.
What to Watch:
1. Bullish Scenario:
Hold above 1.3700 (flag support).
Clean breakout + retest confirms momentum toward 1.3850+.
2. Bearish Rejection:
Failure to stay above support could send price back to 1.3550 or lower.
Resistance Zone: 1.3850–1.3900
Support Zone: 1.3700 (bullish flag boundary)
Summary:
Momentum favors bulls as long as USD/CAD maintains structure above support. A breakout retest could offer a high-probability long entry toward key resistance levels. Patience and confirmation are essential!
Your likes and comments are incredibly motivating and will encourage me to share more analysis with you!
Best Regards TrendLinford!
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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.
🚀 Tap to join – no copy needed!
Get FREE Forex signals with a 1:3 to 1:5 Risk-Reward Ratio
Trade smarter with Linford 🤴
👇 join telegram channels now
#1: t.me/Trendlinford
Get FREE Forex signals with a 1:3 to 1:5 Risk-Reward Ratio
Trade smarter with Linford 🤴
👇 join telegram channels now
#1: t.me/Trendlinford
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.