USDCAD: Double Bottom Breakout Targets 1.4070 and 1.4190
USDCAD has formed a double bottom pattern around the 1.3750–1.3780 support zone and has now broken above the 1.3940 neckline.
The breakout suggests that the recovery could continue, with the former neckline at 1.3940 now acting as an important support area.
A successful retest and hold above this level would keep the bullish structure intact.
The next resistance zones are:
1.4070
1.4190
Key level: 1.3940 neckline.
Holding above the 1.3940 neckline keeps the double-bottom breakout scenario active, while a sustained move back below the neckline would weaken the setup.
You can find more details on the chart.
Thank you! 🍀
⚠️PS: Do your own analysis and use your own strategy to join the trade.
❤️ If this analysis helps your trading day, please support it with a like or comment ❤️
USDCAD has formed a double bottom pattern around the 1.3750–1.3780 support zone and has now broken above the 1.3940 neckline.
The breakout suggests that the recovery could continue, with the former neckline at 1.3940 now acting as an important support area.
A successful retest and hold above this level would keep the bullish structure intact.
The next resistance zones are:
1.4070
1.4190
Key level: 1.3940 neckline.
Holding above the 1.3940 neckline keeps the double-bottom breakout scenario active, while a sustained move back below the neckline would weaken the setup.
You can find more details on the chart.
Thank you! 🍀
⚠️PS: Do your own analysis and use your own strategy to join the trade.
❤️ If this analysis helps your trading day, please support it with a like or comment ❤️
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✅MY FREE Signals Channel
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅Suggested News Channel
t.me/ForexNewsNavigator_Official
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅Suggested News Channel
t.me/ForexNewsNavigator_Official
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.