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USDCADDailyBullish

USDCAD daily (SMC): buy in the 1.4024–1.4082 bullish FVG

FXFibo editorial · · 1 min read
Summary

A bullish daily CHoCH printed at 1.4069 after a sweep of the 1.3930–1.3942 lows, leaving a large bullish FVG. Weak Canadian jobs data also supports this view.

BiasBullishEntry zone1.4060Stop loss1.3990Target 11.4170Target 21.4299StatusActive
Invalidation: Daily close below 1.4000
USDCAD daily (SMC): buy in the 1.4024–1.4082 bullish FVG

Main scenario

  • Structure: liquidity sweep at 1.3930 and bullish CHoCH at 1.4069
  • Buy zone: bullish FVG at 1.4024–1.4082
  • Targets: 1.4170 (bearish FVG at 1.4134–1.4170) and 1.4299

Alternative scenario

A close below 1.4000 neutralises the rally and sends price back to 1.3930.

Key levels

  • Resistance: 1.4138, 1.4170, 1.4299
  • Support: 1.4082, 1.4024, 1.3930

Market-moving events

  • Tue 10 Nov: US CPI
  • Thu 12 Nov: UK GDP and US jobless claims
  • Fri 13 Nov: US PPI and euro-area GDP
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⚠ This analysis is educational and is not a buy or sell recommendation. Trading financial markets carries the risk of losing capital.