Major Key Points to Consider
- Primary Scenario (Bullish) : Consider Buy positions from corrections above the level of 1.39000 with a target of 1.4300 – 1.43500. A Buy signal: the price holds above 1.400. Stop Loss: below 1.3900 Take Profit: 1.4300 – 1.43500.
- Alternative Scenario (Bearish): Breakout and consolidation below the level of 1.38500 will allow the pair to continue decline to the levels of 1.37900 – 1.37300. A Sell signal: the level of 1.38500 is broken to the downside. Stop Loss: above 1.38500, Take Profit: 1.37900 – 1.37300
Technical Indicators
Trend: Short-term Downtrend within a long-term Bullish Uptrend
Support Levels: 1.39330 – 1.38800
Resistance Levels: 1.42910 – 1.42350
Momentum: Bullish on daily timeframe
Elliott Wave Analysis
On A Weekly Chart : On the Weekly Chart of USD/CAD the larger wave of Degree 5 is forming as (2). The Wave (1) of the same larger degree 5 has been formed on feb’2025. Within this larger corrective wave (2) the Leg A of correction in downtrend has been formed and now price is moving in the Leg B of correction in upward direction. After completion of the Leg B, Price will rally to Leg C of correction in downtrend.
On A Daily Chart : On Daily chart of USD/CAD, The wave (a) and wave (b) has been completed of smaller degree within this large wave B and now the Price movement is in the wave Wave (c) of Wave B of Wave (2) .
On A 4-Hours Chart : on the 4-Hour Chart of USD/CAD, Wave (c) of large wave B is forming in an impulse structure. The impulse (i) and (ii) has been formed. Now the Price is moving in the impulse (iii) of Wave C.
If this Presumption is correct then USD/CAD may continue to Rise to the Price levels of 1.430 – 1.43100.
USD/CAD : Current Rate in the Market
The content of this article reflects the author’s opinion and does not necessarily reflect the official position of Webmile | Markets [A propriety of SingleDot Technologies]. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice. According to copyright law, this article is considered intellectual property, which includes a prohibition on copying and distributing it without consent.
This forecast is based on the Elliott Wave Theory. When developing trading strategies, it is essential to consider fundamental factors, as the market situation can change at any time.
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