USD/CAD Bullish Breakout: Trade Hits Target Successfully200 EMA (Blue) at 1.43070: Represents long-term trend resistance.
30 EMA (Red) at 1.42660: Represents short-term trend direction.
Price has strongly surged above the 30 EMA, indicating bullish momentum.
Support and Resistance Levels:
Support Zone (Red area at the bottom): Marked near 1.42150, where the price reversed.
Target Resistance (Blue at the top) at 1.43672: Marking the expected profit zone.
Trade Setup:
Entry Point: Near the support zone at 1.42451-1.42660.
Stop Loss: Placed below 1.42150, to minimize risk.
Target Point: 1.43672, aligning with a previous resistance level.
Price Movement: A strong bullish breakout occurred, moving rapidly toward the target.
Trade Analysis:
✅ Successful Long Trade: Price moved sharply upward after consolidating at support.
📈 Momentum Confirmation: The strong bullish candles indicate aggressive buying.
🎯 Target Achieved: The trade reached the projected 1.43672 level, generating a solid risk-to-reward outcome.
Potential Future Outlook:
If the price sustains above 1.43672, further upside could be seen toward 1.44000.
If it faces resistance, a pullback toward 1.43070 (200 EMA) may occur before another move.
