USD/CAD – 30M – SELLThe currency pair jumps from the ascending trendline downwards
A descent down to the next support at 1.38840 is considered certain.
Caution: A possible change in the direction of the resistance zone at 1.39080 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
Correction of the major bullish trend broke through the Fibonacci 0.24-Level.Continuation of the current descending trend is considered certain. Current target is 1.38729 at the Fibonacci level 0.5-Level. Caution: A possible change in the direction of the support level at 1.39080 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
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 | 1.38880 |
| Next Low | 1.38840 |
| 2nd Low | 1.38818 |
| 3rd Low | 1.38378 |