USD/CAD has been trading inside a well-defined rising channel for a while. Price is now approaching the upper boundary of this channel, a zone where sellers have previously stepped in with strength.
This area is not just resistance, it’s also a liquidity zone, where stop-losses of late buyers are resting above recent highs. Such zones often attract smart money activity before a directional move.
What Price Is Telling Us: Price is currently stalling near resistance instead of expanding higher. We can observe Multiple rejections near the channel top, Overlapping candles showing loss of bullish momentum and Lack of strong follow-through despite previous volume spike.
This behavior often appears before distribution or a corrective move, especially when price is trading at premium levels.
If this analysis helped you, like, follow, and comment for more clean Forex breakdowns.
Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Trading involves risk, and past performance does not guarantee future results. Please manage risk responsibly.
This area is not just resistance, it’s also a liquidity zone, where stop-losses of late buyers are resting above recent highs. Such zones often attract smart money activity before a directional move.
What Price Is Telling Us: Price is currently stalling near resistance instead of expanding higher. We can observe Multiple rejections near the channel top, Overlapping candles showing loss of bullish momentum and Lack of strong follow-through despite previous volume spike.
This behavior often appears before distribution or a corrective move, especially when price is trading at premium levels.
If this analysis helped you, like, follow, and comment for more clean Forex breakdowns.
Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Trading involves risk, and past performance does not guarantee future results. Please manage risk responsibly.
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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.