On the M15 timeframe for USDCAD, the price has been consolidating near key support at 1.3950 following a corrective dip. The recent candles show a bullish reversal pattern, with the close at 1.39653 and 1.39663 forming a bullish engulfing structure, indicating strong buying pressure. Volume spikes on the 1.39663 close (1052) confirm the strength of the reversal, aligning with the breakout above the consolidation range. The pair has since retraced to test the support level, but the close above 1.3950 suggests a potential bullish trend resuming. The current setup favors a continuation of the uptrend, with price likely to retest…

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