USD/CAD is still moving within a rising structure, but price is now testing the upper part of the formation and starting to lose momentum.
The key area to watch is the ascending trendline below price. This line has been supporting the latest move higher, so a break below it would be the first sign that buyers are losing control.
For now, I would wait for a confirmed breakdown rather than sell too early. If price breaks the trendline and fails to recover above it, selling pressure could increase, with 1.3905 as the next downside target.
The idea is simple: wait for the structure to break, then look for continuation lower.
The key area to watch is the ascending trendline below price. This line has been supporting the latest move higher, so a break below it would be the first sign that buyers are losing control.
For now, I would wait for a confirmed breakdown rather than sell too early. If price breaks the trendline and fails to recover above it, selling pressure could increase, with 1.3905 as the next downside target.
The idea is simple: wait for the structure to break, then look for continuation lower.
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Signals & setups to boost your edge
Free trading plans to follow
Real-time market insights
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