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FXNOVA Strategy – USD/CAD Bearish Bias Below 1.3840

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Trade Signal Description:
Strategy : FXNova
Symbols : USDCAD
Type : Sell
Enter : 1.3840
Stop Lost : 1.3865
Target A : 1.3780
Target B : 1.3760
Target C :
Risk : Medium
Description : USD/CAD remains bearish below 1.3840, targeting 1.3780 and 1.3760 as resistance caps upward momentum.

USD/CAD Intraday Signal: Watch 1.3780 as Key Downside Target

Analysis:

USD/CAD maintains a bearish intraday outlook while trading below the pivot resistance at 1.3840. Sellers hold the advantage, targeting 1.3780 and the secondary downside level at 1.3760. Price continues to reject the 1.3840 zone, reinforcing the expectation of bearish continuation.

Market commentary aligns with this view, noting that as long as 1.3840 remains a ceiling, a return to 1.3780 is likely. Momentum and structure favor a downside move, with lower highs forming beneath resistance and bearish pressure gradually building.

Alternatively, a clean break above 1.3840 would invalidate the bearish scenario and open the path toward 1.3865 and 1.3885, where stronger resistance levels await.

Trade Setup:

Enter: Short below 1.3840
Stop-Loss (SL): 1.3865
Target A: 1.3780
Target B: 1.3760

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Our signals typically include up to three Take Profit (TP) levels. Here’s how to manage them effectively:

  • Once the price approaches TP1, move your Stop Loss (SL) to the entry point to make the trade risk-free, and adjust your TP to the second target.
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  • If TP3 is the final target, close the trade entirely once it’s hit.
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Trading in financial markets involves significant risk, and past performance is not a guarantee of future results. You are solely responsible for any trading decisions you make based on our signals.

It is essential to:

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