USDCAD gain strength from Demand Zone of 1.31167 after the US Index gain it strength. The trend changed in bullish from bearish, The USDCAD is now at the key level of 1.34550 and it will shortly drop to 1.33906-1.33580 level for gain more power.
The best time to trade in USDCAD when the market fall to the 1.33906-1.33580 key level and you will found the rejections and then confirmations candles on M30 and H1.
But keep in mind the the analysis based on the technical market behavior and there will be High impact factors news (Ref: Forex Factory) in upcoming weeks it will effect the market momentum by economic calendars changes.
The trading setup as follow;
Entry Point: 1.3378--1.3354
Stop Loss: 1.3298
Take Profit:1.3622
Reasons for the setup;
1- US Dollar Strong
2- Buy Trends
3- Bullish markets channel
Note: When you will found the price rejections candle on H1 or M30 time frame, after a confirmations candle on same time frame will be the validations for the setups.
The best time to trade in USDCAD when the market fall to the 1.33906-1.33580 key level and you will found the rejections and then confirmations candles on M30 and H1.
But keep in mind the the analysis based on the technical market behavior and there will be High impact factors news (Ref: Forex Factory) in upcoming weeks it will effect the market momentum by economic calendars changes.
The trading setup as follow;
Entry Point: 1.3378--1.3354
Stop Loss: 1.3298
Take Profit:1.3622
Reasons for the setup;
1- US Dollar Strong
2- Buy Trends
3- Bullish markets channel
Note: When you will found the price rejections candle on H1 or M30 time frame, after a confirmations candle on same time frame will be the validations for the setups.