🌐 Macro Background
Geopolitical Easing: The US Dollar is edging lower after reports that Washington and Tehran agreed to halt mutual attacks ahead of peace talks in Doha this week. This has temporarily dampened safe-haven demand.
Price Depreciation: Driven by the softer US Dollar, USD/CAD remains in negative territory for the third consecutive day, trading near 1.4190 during the Asian session on Monday.
Key Risk Events: Market attention this week is focused on central bank rhetoric. Investors are watching Wednesday's speeches at the ECB Central Bank Forum, featuring Fed Chair Warsh and BoC Governor Macklem.
📊Technical Structure
On the 4-hour (4H) chart, the pair recently completed a strong bullish rally. Despite the current multi-day correction, there is no clear indication that this broader upward move is ending.
Resistance Zone:1.4209 – 1.4223. This area is defined by previous dense trading activity and recent swing highs.
Support Zone: 1.4145 – 1.4160. This zone represents a crucial confluence of prior structural support and the dynamic ascending trendline.
🎯 Trade Setup
Bullish / Buy on Dips. Look for a clear hold at support or a confirmed breakout.
Scenario A (Buy on Pullback): Wait for price to reach the ascending trendline and Support Zone (1.4145 - 1.4160), then look for bullish confirmation before entering long positions.
Scenario B (Breakout Buying): If geopolitical tensions reignite or Wednesday's central bank speeches turn hawkish, and price closes above the Resistance Zone (1.4223), consider entering momentum longs.
📌Invalidation
The bullish bias will be invalidated if the price breaks aggressively below the lower boundary of the Support Zone at 1.4145, with a 4H candle body closing firmly below the ascending trendline. This would signal a deeper structural reversal.
📌Trade Summary
Overall, USD/CAD maintains its bullish structure despite a three-day correction to the 1.4190 area, driven by easing geopolitical tensions ahead of the Doha peace talks.
⚠️Disclaimer
This analysis is for reference only and does not constitute trading advice. Financial markets involve significant risk; proper risk and position management are essential.
Geopolitical Easing: The US Dollar is edging lower after reports that Washington and Tehran agreed to halt mutual attacks ahead of peace talks in Doha this week. This has temporarily dampened safe-haven demand.
Price Depreciation: Driven by the softer US Dollar, USD/CAD remains in negative territory for the third consecutive day, trading near 1.4190 during the Asian session on Monday.
Key Risk Events: Market attention this week is focused on central bank rhetoric. Investors are watching Wednesday's speeches at the ECB Central Bank Forum, featuring Fed Chair Warsh and BoC Governor Macklem.
📊Technical Structure
On the 4-hour (4H) chart, the pair recently completed a strong bullish rally. Despite the current multi-day correction, there is no clear indication that this broader upward move is ending.
Resistance Zone:1.4209 – 1.4223. This area is defined by previous dense trading activity and recent swing highs.
Support Zone: 1.4145 – 1.4160. This zone represents a crucial confluence of prior structural support and the dynamic ascending trendline.
🎯 Trade Setup
Bullish / Buy on Dips. Look for a clear hold at support or a confirmed breakout.
Scenario A (Buy on Pullback): Wait for price to reach the ascending trendline and Support Zone (1.4145 - 1.4160), then look for bullish confirmation before entering long positions.
Scenario B (Breakout Buying): If geopolitical tensions reignite or Wednesday's central bank speeches turn hawkish, and price closes above the Resistance Zone (1.4223), consider entering momentum longs.
📌Invalidation
The bullish bias will be invalidated if the price breaks aggressively below the lower boundary of the Support Zone at 1.4145, with a 4H candle body closing firmly below the ascending trendline. This would signal a deeper structural reversal.
📌Trade Summary
Overall, USD/CAD maintains its bullish structure despite a three-day correction to the 1.4190 area, driven by easing geopolitical tensions ahead of the Doha peace talks.
⚠️Disclaimer
This analysis is for reference only and does not constitute trading advice. Financial markets involve significant risk; proper risk and position management are essential.
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Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.
ATFX is a globally regulated, award-winning fintech broker offering customer support in 20 languages.
👉🏼Start your trading journey with ATFX: bit.ly/3mLMPHz
👉🏼Start your trading journey with ATFX: bit.ly/3mLMPHz
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.