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

Daily Price Outlook

- Pivot Level: Below $1.40263 favors bearish momentum; above it, buyers could regain control.

- Resistance Zones: Watch $1.40489 and $1.40711 for potential rebound caps.

- Support Levels: Key levels to watch are $1.39888 and $1.39599 for downside extensions.

USD/CAD is trading at $1.40166, down 0.02%, as bearish momentum takes hold on the 4-hour chart. The pair is currently below the pivot point at $1.40263, signaling potential downward pressure.

Immediate resistance stands at $1.40489, followed by $1.40711 and $1.41016, which could act as hurdles for any rebound attempts. On the downside, immediate support lies at $1.39888, with further levels at $1.39599 and $1.39303 providing key zones for bearish targets.

The 50-day EMA at $1.40329 adds to the resistance, reflecting near-term selling bias. Meanwhile, the RSI at 39 highlights bearish momentum but suggests the pair is nearing oversold conditions, which could trigger short-term consolidation. If USD/CAD breaks below $1.39888, it could test $1.39599, but a reversal above $1.40263 would shift the focus back to resistance at $1.40489.

For traders, short positions below $1.40260 align with the bearish outlook. A take-profit at $1.39882 offers a reasonable target, while a stop-loss at $1.40490 helps manage risk.

Selling below $1.40260 with a take-profit at $1.39882 and a stop-loss at $1.40490 aligns with the bearish trend while offering balanced risk management.

USD/CAD – Technical Analysis

Entry Price – Sell Below 1.40260

Take Profit – 1.39882

Stop Loss – 1.40490

Risk to Reward – 1: 1.6

Profit & Loss Per Standard Lot = +$378/ -$230

Profit & Loss Per Mini Lot = +$37/ -$23