USD/CAD – 30M – SELLThe currency pair jumps from the descending trendline downwards
A continuation of the downtrend down to the next support at 1.38141 is likely expected.
Caution: A possible reversal of the trend in the direction of the resistance zone at 1.38285 is within the realm of possibility.
Consider stop-loss settings accordingly.
Correction of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend is likely expected. Target of the current trend is 1.38133 at the Fibonacci level 0-Level. Caution: A possible reversal of the trend in the direction of the support line at 1.38285 is within the realm of possibility.
Consider stop-loss settings accordingly.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.38362 |
| 2nd High | 1.38323 |
| Next High | 1.38285 |
| Current Price | 1.38186 |
| Next Low | 1.38141 |
| 2nd Low | 1.38133 |
| 3rd Low | 1.37851 |