USD/CAD – 1H – BUYThe currency pair jumps from the ascending trendline down.
A bearish movement down to the next support level at 1.35664 is likely expected.
Caution: A possible counter-trend in the direction of resistance at 1.36072 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bullish trend halted around the Fibonacci 0.5-Level.Continuation of the current ascending trend is likely expected. Current target is 1.36044988 at the Fibonacci level 0.24-Level. Caution: A possible counter-trend in the direction of resistance at 1.36072 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.36845 |
| 2nd High | 1.36226 |
| Next High | 1.36072 |
| Current Price | 1.35980 |
| Next Low | 1.35664 |
| 2nd Low | 1.35647 |
| 3rd Low | 1.35644 |