USDCAD Races Towards 1.3860

USDCAD has recently shown remarkable strength after months of bearish pressure. The price experienced a bullish breakout above a prior order block. The market is now displaying signs of a sustained bullish reversal towards 1.3860

Demand Levels: 1.3540, 1.3440, 1.3300

Supply Levels: 1.3730, 1.3860, 1.4300

After months of downward pressure, USDCAD has staged a powerful breakout above a bearish order block, led by strong bullish conviction. The swing low at 1.3540 marked a turning point, followed by uninterrupted bullish daily candles, suggesting a change in market sentiment. The structure has since flipped to the upside, with price aggressively targeting the next swing high at 1.39960.

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The Smoothened Heikin Ashi (SHA) candles offer further validation of this bullish reversal. The price has surged above the SHA candles, and a shift in color to green is expected to provide additional confirmation. This setup is increasingly reliable for generating the best forex signals, especially when paired with lower timeframe strategies.

On the 4-hour chart, the Smoothened Heikin Ashi played a critical role in the continuation of the bullish trend. A successful retest of its level acted as a springboard, delivering renewed upward momentum. The candle structure shows pullbacks followed by swift resumptions, offering well-defined intraday opportunities for traders looking to participate in the bullish wave toward 1.39960.