USD/CAD Price Analysis and Trade Forecast: Daily Trading Signal

Daily Price Outlook

- USD/CAD remains bullish above the pivot point at $1.43655, with resistance at $1.44415 in focus.

- The 50-day EMA at $1.43919 supports the uptrend, offering a critical level for bulls.

- A break below $1.42799 could trigger a corrective move, challenging the bullish sentiment.

The USD/CAD pair is trading at $1.44199, up 0.80%, reflecting strong bullish momentum as the U.S. dollar continues to gain ground against the Canadian dollar.

The pair has successfully breached the pivot point at $1.43655, indicating potential for further upside. Immediate resistance is observed at $1.44415, with the next hurdles at $1.45185 and $1.45861, which could limit further gains if buying momentum weakens.

On the downside, immediate support is seen at $1.42799, followed by deeper levels at $1.42108 and $1.41342, which could provide stability in the event of a pullback.

The 50-day EMA at $1.43919 is currently acting as dynamic support, reinforcing the bullish bias as long as prices remain above this key level.

From a technical perspective, the pair's break above the pivot and sustained movement above the 50-day EMA suggests a continuation of the uptrend. Traders are closely monitoring key resistance levels to assess the strength of the rally.

A break above $1.44415 could accelerate bullish momentum, targeting the higher resistance zones. Conversely, a drop below the pivot may shift sentiment, prompting a potential retracement toward the immediate support at $1.42799.

In conclusion, a buying opportunity emerges above $1.43655, targeting $1.44788, with a stop-loss set at $1.42811 to manage downside risks. The overall outlook remains bullish, contingent on the pair maintaining strength above the pivot level.

USD/CAD - Trade Ideas

Entry Price – Buy Above 1.43655

Take Profit – 1.44788

Stop Loss – 1.42811

Risk to Reward – 1: 1.5

Profit & Loss Per Standard Lot = +$1133/ -$844

Profit & Loss Per Mini Lot = +$113/ -$84