USD/CAD – 30M – SELLThe pair jumps from the bullish trendline down.
The bearish trend down to the next support at 1.38745 is expected.
Caution: A possible change in the direction of the resistance line at 1.39064 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend is expected. Current target is 1.38745 at the Fibonacci level 0-Level. Caution: A possible change in the direction of the support zone at 1.39064 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.39585 |
| 2nd High | 1.39222 |
| Next High | 1.39064 |
| Current Price | 1.38854 |
| Next Low | 1.38745 |
| 2nd Low | 1.38378 |
| 3rd Low | 1.38122 |