Based on the chart we've shared for USD/CAD on the weekly timeframe, we can identify two target points (TPs) derived from the price action and technical breakdown shown:
🔍 Analysis Summary:
The price has broken below a long-term ascending trendline and horizontal support zone (around the 1.36–1.37 area).
The chart indicates a bearish breakdown with two projected downside targets.
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🎯 Target Points (TPs):
✅ TP1 (First Target Point)
Approximate Level: 1.3350
Rationale: This aligns with the first horizontal red line, possibly a strong previous support or a measured move level from the breakdown.
✅ TP2 (Second Target Point)
Approximate Level: 1.2450
Rationale: This is the second red line — likely based on a longer-term measured move, previous structure low, or Fibonacci projection from the head of the pattern.
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🛑 Suggested Risk Management:
Consider a stop loss above the broken support (~1.3800–1.3850) to manage risk.
Monitor key news from the U.S. and Canada, especially rate decisions or oil prices (as CAD is oil-correlated).
Would you like a risk-reward calculation for these TPs based on a sample entry point?
🔍 Analysis Summary:
The price has broken below a long-term ascending trendline and horizontal support zone (around the 1.36–1.37 area).
The chart indicates a bearish breakdown with two projected downside targets.
---
🎯 Target Points (TPs):
✅ TP1 (First Target Point)
Approximate Level: 1.3350
Rationale: This aligns with the first horizontal red line, possibly a strong previous support or a measured move level from the breakdown.
✅ TP2 (Second Target Point)
Approximate Level: 1.2450
Rationale: This is the second red line — likely based on a longer-term measured move, previous structure low, or Fibonacci projection from the head of the pattern.
---
🛑 Suggested Risk Management:
Consider a stop loss above the broken support (~1.3800–1.3850) to manage risk.
Monitor key news from the U.S. and Canada, especially rate decisions or oil prices (as CAD is oil-correlated).
Would you like a risk-reward calculation for these TPs based on a sample entry point?
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