I'm closely monitoring USD/CAD as it approaches a significant support zone between 1.3820 and 1.3740. This area has historically prompted bullish rebounds, and I anticipate that buyers will defend it.
With confirmation, I plan to enter a long position, placing a stop loss just below 1.3740 to manage risk. Initial targets might include the 1.3900 level, aligning with previous resistance. Then, we can expect the 1.40 area for full TP.
However, if the price breaks decisively below 1.3740, it would invalidate the bullish setup and suggest further downside.
With confirmation, I plan to enter a long position, placing a stop loss just below 1.3740 to manage risk. Initial targets might include the 1.3900 level, aligning with previous resistance. Then, we can expect the 1.40 area for full TP.
However, if the price breaks decisively below 1.3740, it would invalidate the bullish setup and suggest further downside.
Nota
✅ If you took the trade—manage it now!Solid move up so far 📈 but Flash PMI drops in minutes 🇺🇸.
Stay alert—trade management is everything at this stage! Looking for more setups like this. Follow me.
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.