USD/CAD – 1H – BUYThe currency pair jumps from the descending trendline downwards
A continuation of the downtrend downwards to the next support level at 1.38133 is certain.
Caution: A possible trend reversal in the direction of the resistance zone at 1.38492 is within the realm of possibility.
Consider stop-loss settings accordingly.
Correction of the major bullish trend halted around the Fibonacci 0.24-Level.Continuation of the current ascending trend is certain. Target of the current trend is 1.38492 at the Fibonacci level 0-Level. Caution: A possible trend reversal in the direction of the resistance zone at 1.38492 is within the realm of possibility.
Consider stop-loss settings accordingly.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 1.38492 |
| Current Price | 1.38252 |
| Next Low | 1.38133 |
| 2nd Low | 1.37851 |
| 3rd Low | 1.37468 |