USD/CAD – 1H – SELLThe combination moves from the descending trendline down.
A continuation of the downward movement down to the next support at 1.35799 will persist.
Caution: A possible counter-trend in the direction of resistance at 1.36165 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bullish trend broke through the Fibonacci 0.24-Level.Continuation of the current descending trend will persist. Current target is 1.359045 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of the support zone at 1.36165 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.36845 |
| 2nd High | 1.36226 |
| Next High | 1.36165 |
| Current Price | 1.35846 |
| Next Low | 1.35799 |
| 2nd Low | 1.35664 |
| 3rd Low | 1.35647 |