FX.co ★ Munawar Azeem | USD/CAD

Good morning, trading activity can resume under the trading plan prepared after the market opens. Ot will follow the forecast and generate the desired profit. The market opened with no major changes on Monday, but if you look at previous market moves, you see some markets are still in a bullish trend, especially the USDCAD market, which continued to rise last week. For this reason, today I will focus on opportunities in the USD/CAD market, which remain bullish. • Daily USD/CAD Chart

In the daily USD/CAD market, buyer pressure was high in September. As seen from the beginning of the month, the market continued to rise until it reached its highest level in several years at 1.38281. This confirmation confirms that the U.S. dollar is the major factor driving buy-side dominance, which is powerful. Prices also strengthened, forming a minor pullback and support at 1.35962, before the market rose again and retested the resistance zone. For now, if you look at today's daily candle, there is a downward movement, and the candle has opened. To measure momentum, you can look at shorter time frames. • USDCAD H4 Chart

At the open today, the resistance area appears to be rejected, as shown by the bearish H4 candle. This could show that the current resistance remains strong, that I overbought the price, that the price is correcting downward and may seek additional support before rising again, or that the price is correcting further. If you look at the area that formed earlier, you can see the base area between 1.36671 and 1.37377, which masks the initial area. • Plan to trade USD/CAD I have a strategy that can enter the USDCAD market based on observed movement patterns: In order to enter to buy USDCAD, you can wait for the market to correct to the base area I marked. For confirmation, you can look for a bullish rejection candle to form additional support; or, if there is no rejection candle and the price corrects further, you can wait for a test of support at 1.35962, which could be a buying area if there is one. Although the trend is positive, if the current price shows corrective momentum above the support price point of 1.35962, you can go short in the USDCAD market. A large bearish candle confirms this, and the main candle must surpass t3his price point.