USDCAD Analysis - 4H Timeframe
HI Traders
The price has reached a strong rejection zone around the 1.4480 level, which has previously acted as a key area for determining the direction. There’s potential for a bullish bounce if this zone confirms as support.
Key Observations:
Critical Zone: 1.4450 - 1.4480 (monitor price action closely here).
If the price holds and continues upward, the first target could be around 1.4550.
Alternative Scenario: Breaking below this key zone could lead to a retest of lower levels, possibly near 1.4400.
Disclaimer: This is not financial advice. Please manage your risk and follow the price action carefully.
What are your thoughts on this setup? Share your feedback! 😊
The price has reached a strong rejection zone around the 1.4480 level, which has previously acted as a key area for determining the direction. There’s potential for a bullish bounce if this zone confirms as support.
Key Observations:
Critical Zone: 1.4450 - 1.4480 (monitor price action closely here).
If the price holds and continues upward, the first target could be around 1.4550.
Alternative Scenario: Breaking below this key zone could lead to a retest of lower levels, possibly near 1.4400.
Disclaimer: This is not financial advice. Please manage your risk and follow the price action carefully.
What are your thoughts on this setup? Share your feedback! 😊
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