USD/CAD – 1H – SELLCorrection of the major bullish trend broke through the Fibonacci 0.24-Level.Continuation of the current descending trend will persist. Current target is 1.38601 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of support at 1.39080 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
The chart formed a ‘Three White Soldiers’ candlestick pattern, which means 3 higher candles in a row.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 1.39080 |
| Current Price | 1.38796 |
| Next Low | 1.38378 |
| 2nd Low | 1.38122 |
| 3rd Low | 1.37851 |