USDCAD (2D): DT Analysis

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General Observations
The USDCAD (2D) chart shows an overall Downtrend currently measured as “Moderate, 4.8% Confidence.”

SUPPORT & RESISTANCE 🔎
  • Resistance near 1.47–1.48 (Pivot High & Sell Stoploss region)
  • Mid pivot area ~1.4107 that may act as interim support/resistance
  • Support around 1.36–1.34 where prospective Buy Orders reside


TREND ANALYSIS 📝
  • Pivot High & DT signals suggest selling pressure at upper zones
  • Pivot Low & UT signals hint at potential bounces in lower zones
  • Market bias currently leans bearish, given the “Downtrend” reading


Indicator Context
The “Trend Score: -1.0” underscores a bearish tendency.
“Confirmed” signals (green/red) validate previous pivot breaks, aligning with downward momentum.

FUNDAMENTAL CONSIDERATIONS 🌐
  1. Task: Monitor upcoming Canadian and US economic reports for volatility.
  2. Event: Pay attention to interest rate announcements or GDP releases.
  3. Vacation: Keep in mind lower liquidity periods can exaggerate price movements.


RECOMMENDED ACTION PLAN 📋
  1. Task: If price rallies toward 1.4326–1.4583, watch for short entries with stops above pivot highs.
  2. Event: Potential long entries near 1.3488–1.3634 if bullish signals confirm a correction.
  3. Vacation: Consider partial profits early if volatility spikes suddenly.


🚀 Happy Trading!

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