USDCAD Swing trade idea 27/01/2025

27 Oca

USDCAD is approaching the key 1.47000 zone, a level untouched since 2003. It’s only tested this area three times (2016, 2020, now), each time rejecting with ~3,000 pip drops. With CAD weakening, a retest of this zone could happen in the coming weeks.

Stay alert!

28 Oca

İşlem aktif

USDCAD is still following its overall bullish trend on the daily chart but is currently in a consolidation phase. For now, I’m waiting for price to reach the key 1.47000 level before looking for potential rejections or trade setups. This level has historically been significant, so it’s worth waiting for confirmation there. Also, keep an eye on any trade-related comments or tweets from Trump regarding Canada, as they could influence CAD movement.