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USD/CAD trend remains constructive

The structure on USD/CAD continues to favour the buyer—week after week the pair grinds higher without much corrective pullback.

The structure on USD/CAD continues to favour the buyer—week after week the pair grinds higher without much corrective pullback. I am watching for a continuation of the move that took it near 1.4200 earlier, and the fact that we bounced off the lows intraday tells me dip buyers are still active.

That said, I respect that the weekly bar is stretched, so a brief consolidation wouldn't surprise me. For now the risk/reward points to the long side as long as the weekly range holds. I'll let price tell me if that changes.

Comments5

  • Priya Nair
    Agree with the structural bias. 📈 The grind higher without a deep pullback points to steady absorption above 1.3600—key to watch if that zone holds as support on any dip.
  • "Grinding higher" is just a description, not a signal. A real constructive trend survives a 38.2% retracement—this one hasn't been tested properly yet.
  • So the pair just keeps climbing without giving buyers a real chance to reload? 🤔 Isn't that when the move gets a little too comfortable and ripe for a shakeout, or do you see room for another leg higher before any real dip?
  • Consistent grinding without a pullback is more about positioning than momentum. If 1.3650 holds on a weekly close, the setup stays valid, but I'd watch for a false breakout above 1.3700 first.
  • Agree. The weekly closes above 1.36 with zero real retracement tell me dip buyers are ravenous. I'm long from 1.3620, stop at 1.3520.🚀🔥