FX.co ★ Mohammadhamza | USD/CAD

USDCAD 30M Technical Analysis: Bullish Continuation from FTR Buy Zone

USDCAD is trading at 1.38212 on the 30M chart after a strong rally from the 1.37650 area. Price is pulling back toward the green FTR buy zone around 1.37750-1.37850, with the projection showing a continuation higher toward 1.38250 and beyond. The structure remains bullish as long as the demand zone holds. Key Levels & Market Structure *Support Zone – FTR 1.37750 to 1.37850* The green shaded area marks the Fair Value Gap/Turn buy zone where price previously reversed higher. This zone represents an imbalance left during the bullish move, making it a high-probability area for buyers to step in again. The red zone below at 1.37650-1.37700 acts as the final defense. As long as USDCAD holds above 1.37700 on a 30M close, the bullish bias remains valid. A break and close below 1.37650 would invalidate the setup and open a drop toward 1.37400-1.37300. *Immediate Support: 1.38000 – 1.38050* This level acted as resistance before the breakout and is now flipping to support. A hold here could trigger a direct bounce without a full retest of the FTR zone. *Resistance Levels:* 1. *1.38250*: Immediate resistance and the projected target shown on the chart. This level aligns with the recent high and liquidity pool above. 2. *1.38300 – 1.38400*: Next resistance zone if buyers clear 1.38250. A close above 1.38400 opens a move toward 1.38600. The market structure on the 30M timeframe shows higher highs and higher lows, confirming short-term bullish momentum. The current pullback looks corrective within an uptrend, not a reversal. Bias & Trade Plan Bias is *bullish* while price holds above 1.37700. The cleanest setup is to buy the retest of the 1.37750-1.37850 FTR zone for continuation toward 1.38250. Aggressive traders can scale in on a hold above 1.38050 with a target at 1.38250. Avoid shorts unless price closes below 1.37650. Money Management USDCAD on the 30M timeframe moves 20-50 pips per leg, so position sizing is key. For a long setup on a rejection from 1.37800: *Entry*: 1.37780-1.37800 on bullish rejection *Stop Loss*: 1.37650, 25-30 pips below entry and below the FTR zone *Take Profit 1*: 1.38100, 30-35 pips profit for partial close *Take Profit 2*: 1.38250, 45-50 pips profit at the projected target This gives a risk-reward of roughly 1:1.2 to 1:2. Risk only 1-2% of your account per trade. On USDCAD, 1.00 lot moves 10$ per pip. With a 30 pip stop, 0.03 lot risks 90$. Adjust lot size so that a stop-out equals 1-2% of your balance. *Rules to follow*: 1. Wait for a bullish rejection candle or 30M close above 1.37850 before entering longs. 2. Move stop to breakeven once price hits TP1 to secure a risk-free trade. 3. If price closes below 1.37650 on the 30M, exit longs and reassess for shorts toward 1.37400. The key level is 1.37750-1.37850. A hold there sets up the move to 1.38250, while a loss of it shifts bias bearish. Want me to calculate exact lot size for 1% risk on your account?