USDCAD FORCAST BULLISH 100PIPS

The USDCAD pair could be poised for a 100-pip bullish move based on current technical and fundamental factors. Here’s the analysis:

Key Reasons for a Bullish Outlook:
Technical Setup:

Support Holding: If USDCAD is bouncing off a key support level (e.g., 1.3500 or 1.3600), a rebound toward 1.3700-1.3750 (+100 pips) is possible.

RSI/Oversold Bounce: If the RSI was near 30 (oversold), a reversal could trigger a short-term rally.

Break of a Downtrend Line: A breakout above a descending trendline could signal bullish momentum.

Fundamental Drivers:

Stronger USD: If the Fed maintains a hawkish stance (delaying rate cuts), the USD could strengthen.

Weaker CAD: If oil prices decline (CAD is oil-linked) or Canadian economic data disappoints, USDCAD could rise.

Price Action & Key Levels:

Entry Zone: 1.3600-1.3650 (if holding as support).

Target: 1.3700-1.3750 (+100 pips).

Stop Loss: Below 1.3550 (if support breaks).

Trade Plan:
Buy Zone: 1.3600-1.3650

Take Profit: 1.3700-1.3750 (+100 pips)

Stop Loss: 1.3550 (50-pip risk)

Risk-Reward Ratio: 1:2 (favorable).

Caution: