USDCAD bearish breakout in play

Orlando Gutierrez

Updated:

UNLOCK DAILY FOREX SIGNALS

Select a Plan

£40

 1-month subscription

Select

£30

 3-month subscription

Select

£21.5

 6-month subscription

Select

£399

 lifetime subscription

Select

£50

 Separate Swing Trading Group

Select

Or

Get VIP forex signals, VIP crypto signals, swing signals, and forex course free for lifetime.

Just open an account with one our affiliate broker and make a minimum deposit: 250 USD.

Email [email protected] with a screenshot of funds on account to get access!

Sponsored by

Sponsored Sponsored

Checkmark

Service for copy trading. Our Algo automatically opens and closes trades.

Checkmark

The L2T Algo provides highly profitable signals with minimal risk.

Checkmark

24/7 cryptocurrency trading. While you sleep, we trade.

Checkmark

10 minute setup with substantial advantages. The manual is provided with the purchase.

Checkmark

79% Success rate. Our outcomes will excite you.

Checkmark

Up to 70 trades per month. There are more than 5 pairs available.

Checkmark

Monthly subscriptions begin at £58.

Key Resistance: 1.2500
Key Support: 1.2350 – 1.2300 – 1.2200

After last week’s big rally the USDCAD hit a big key level, the previous broken base at the 1.2500 level. This level is key because it held as support for more than 1 month (Feb. 25 – April 26) before the bearish move continued.

This market is still very much bearish with the Canadian Dollar strength overwhelming the USD weakness (long term). Price has now broken with the short term bullish structure whilst printing massive bearish divergence at the top of the structure on a reversal pattern.

We are targeting a pullback here on possible USD weakness (DXY’s pullback at the top of the bullish structure, explained on the daily watchlist) towards the weekly pivot area at the break of today’s lows.

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Share with other traders!

Leave a Reply

Your email address will not be published. Required fields are marked *