USD/CAD – 30M – BUYThe pair jumps from the descending trendline up.
An ascent upwards to the next resistance level at 1.38362 is expected.
Caution: A possible counter-trend in the direction of the support zone at 1.38211 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bullish trend halted around the Fibonacci 0.5-Level.Continuation of the current ascending trend is expected. Target of the current trend is 1.38340724 at the Fibonacci level 0.24-Level. Caution: A possible counter-trend in the direction of the resistance level at 1.38362 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 1.38492 |
| Next High | 1.38362 |
| Current Price | 1.38300 |
| Next Low | 1.38211 |
| 2nd Low | 1.37851 |
| 3rd Low | 1.37710 |