USD/CAD – 1H – BUYThe currency pair moves from the bullish trendline down.
A descent down to the next support at 1.37246 is expected.
Caution: A possible trend reversal in the direction of the resistance zone at 1.37928 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bullish trend halted around the Fibonacci 0.24-Level.Continuation of the current ascending trend is expected. Current target is 1.38382 at the Fibonacci level 0-Level. Caution: A possible trend reversal in the direction of the resistance zone at 1.37928 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 1.38382 |
| Next High | 1.37928 |
| Current Price | 1.37625 |
| Next Low | 1.37246 |
| 2nd Low | 1.34720 |
| 3rd Low | 1.34633 |