FX.co ★ USD/CAD

I fully justify the USDCAD forecast on the daily chart, and I clearly see that the prevailing uptrend structure remains intact, which allows me to seriously consider buy positions. I note that I have identified several buy signals that align well with the broader market context, and I rely on them to support my bullish bias. I observe that the Awesome Oscillator histogram has once again exited the negative zone and moved into positive territory, and I interpret this as a renewed sign of bullish momentum. I also see that the DeMarker oscillator line is drifting northward, and I treat this behavior as confirmation that buying pressure is gradually increasing. I expect that if market conditions remain favorable, I may see price growth toward the 1.4120 area, which I consider a realistic upside objective. I acknowledge that today’s trading environment includes highly volatile news affecting multiple currencies, and I understand that this increases overall market risk. I emphasize that I must pay close attention to money management, because I know that volatility can quickly invalidate even strong technical setups. I remain cautious when trading during such sessions, and I remind myself that disciplined risk control is essential in the forex market. I recognize that USDCAD is currently trading around 1.3875, and I note that on the H1 chart price is holding above the MA200 at 1.3775, which I interpret as a bullish intraday signal. I also observe that the H4 chart shows a similar structure, and I consider this multi-timeframe alignment supportive of further upside. I advise myself to wait for a corrective pullback before entering a buy, because I prefer to trade with confirmation rather than chase price. I identify resistance levels at 1.3911, 1.3940, and 1.3965, and I use these as reference points for potential reactions. I also define support levels at 1.3860, 1.3838, and 1.3809, and I treat them as zones where buyers may re-enter the market. I expect that price may extend toward 1.3911 in the near term, although I also accept that a drop below the H4 MA200 could open the door to a deeper correction toward 1.3700.

I maintain a constructive long-term outlook on USDCAD, and I believe that bullish forces still dominate despite recent corrective movements. I see that bulls are once again targeting the 1.3916 resistance level on the daily timeframe, and I recognize this level as an important rotational barrier. I note that the 200-day moving average is located just above at 1.3931, and I understand that consolidation above this area would significantly strengthen the bullish case. I believe that a sustained break above the MA200 would clear the path toward the next major resistance at 1.4038, which I identify as the lower boundary of the 3/8 channel. I recall that the earlier wave structure was clearly ascending within a channel, and I recognize that this structure was disrupted in early December when price broke down. I observed that the MACD moved into the sell zone at that time, and I acknowledge that this shift marked the start of a corrective phase. I also note that when I apply Fibonacci projections to the previous growth wave, the 161.8% extension aligns closely with the 1.4147 level, which I consider technically significant. I see that this level was tested twice, and I remember that bearish MACD divergence previously warned of the decline from that area. I now interpret the current rise as a corrective move back toward the broken support at 1.3931, which I expect to act as resistance. I anticipate a possible pause or shallow pullback toward 1.3803, which I view as a mirror support level. I consider the current price action to be a compression phase, and I believe that a breakout from this range will define the next impulse. I conclude that overall dollar strength favors an upside resolution, and I therefore prefer to focus on buy opportunities. I plan an intraday long trade on the H1 timeframe with an entry near 1.3886, and I define a tight stop-loss at 1.3881. I set partial take-profits at 1.3890, 1.3894, and 1.3898, and I remind myself to close the trade early if conditions change rather than wait for a stop-loss.