USD/CAD – 1H – BUYThe pair jumps from the descending trendline downwards
A continuation of the bearish trend downwards to the next support line at 1.37851 is expected.
Caution: A possible counter-trend in the direction of the resistance line at 1.38492 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
Correction of the major bullish trend halted around the Fibonacci 0.24-Level.Continuation of the current ascending trend is expected. Current target is 1.38492 at the Fibonacci level 0-Level. Caution: A possible counter-trend in the direction of the resistance line at 1.38492 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 1.38492 |
| Current Price | 1.38303 |
| Next Low | 1.37851 |
| 2nd Low | 1.37468 |
| 3rd Low | 1.37246 |