USD/CAD – 1H – SELLThen a ‘Double top retreat up’ chart pattern is found. The formation shows ‘Double top retreat up’. which is a bullish signal. The pair is likely to go up.
The combination US Dollar/Canadian Dollar (USD/CAD) goes from the descending trendline down.
A continuation of the downtrend downwards to the next support line at will persist.
Caution: A possible change in the direction of the resistance zone at 1.36068 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bearish trend halted around the Fibonacci 0-Level.Continuation of the current descending trend will persist. Current target is 1.35659 at the Fibonacci level 0-Level. Caution: A possible change in the direction of the support level at 1.36068 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.36749 |
| 2nd High | 1.36514 |
| Next High | 1.36068 |
| Current Price | 1.35548 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
1.36068 – 1.36514 – 1.36749 – 1.35659 – 1.35921 – 1.36496