USD/CAD – 1H – SELLThe combination US Dollar/Canadian Dollar (USD/CAD) jumps from the bearish trendline down.
A continuation of the bearish trend downwards to the next support at 1.40089 is certain.
Caution: A possible counter-trend in the direction of the resistance level at 1.40893 should be noted.
Consider stop-loss settings accordingly.
Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend is certain. Target of the current trend is 1.40268336 at the Fibonacci level 0.24-Level. Caution: A possible counter-trend in the direction of the support level at 1.40893 should be noted.
Consider stop-loss settings accordingly.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 1.41778 |
| Next High | 1.40893 |
| Current Price | 1.40658 |
| Next Low | 1.40089 |
| 2nd Low | 1.39847 |
| 3rd Low | 1.39802 |