USD/CAD – 1H – BUYThe combination US Dollar/Canadian Dollar (USD/CAD) breaks through the descending trendline upwards
An ascent up to the next resistance line at 1.40828 is expected.
Caution: A possible trend reversal in the direction of the support line at 1.40089 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bullish trend halted around the Fibonacci 0.24-Level.Continuation of the current ascending trend is expected. Current target is 1.40893 at the Fibonacci level 0-Level. Caution: A possible trend reversal in the direction of resistance at 1.40828 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.41778 |
| 2nd High | 1.40893 |
| Next High | 1.40828 |
| Current Price | 1.40732 |
| Next Low | 1.40089 |
| 2nd Low | 1.39847 |
| 3rd Low | 1.39802 |