USD/CAD –Trend Reversal Structure Developing from Fake-Breakdown

20 Haz

The 2-hour chart on USD/CAD reveals a compelling bullish reversal setup following a fake breakdown and a clean structural breakout from a descending channel



🔍 Key Technical Elements
Price initially broke below the descending channel, forming a fake breakdown but quickly reclaimed ground—often a sign of smart money accumulation.
This move was followed by a breakout above the channel, initiating a trend reversal
The current pullback appears to be forming a bullish continuation pattern likely a higher low or inverse head and shoulders structure above the 1.3680–1.3700 support zone

📌 Key Levels to Watch:
Support: 1.3680–1.3700 (demand area and neckline zone)
POI / Mid-resistance 1.3829 – Potential short-term target
Resistance: 1.3915 – Long-term supply zone

📈 Scenario Outlook:
If the price holds above support and confirms the higher low, we could see continuation toward 1.3829 with potential extension to 1.3915 in the coming sessions
A breakdown below the current support zone would invalidate the bullish bias and warrant reassessment.

🧠 Technical Insight
This setup highlights a shift from bearish trend to bullish structure with early signs of trend reversal through liquidity manipulationand a reclaim of key levels

Summary:
USD/CAD is showing a potential bullish reversal after a fake breakdown and structural breakout. If current support holds, the path toward higher levels remains open, with 1.3829 and 1.3915 as primary upside targets

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23 Haz

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