USD/CAD – 30M – SELLThe currency pair moves from the descending trendline down.
A continuation of the downtrend downwards to the next support at 1.34894 is likely expected.
Caution: A possible change in the direction of resistance at 1.35336 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bullish trend broke the Fibonacci 0.24-Level.Continuation of the current descending trend is likely expected. Target of the current trend is 1.35004 at the Fibonacci level 0.5-Level. Caution: A possible change in the direction of the support level at 1.35336 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.35409 |
| 2nd High | 1.35375 |
| Next High | 1.35336 |
| Current Price | 1.35072 |
| Next Low | 1.34894 |
| 2nd Low | 1.34633 |
| 3rd Low | 1.34623 |