USD/CAD – 30M – SELLThe combination moves from the ascending trendline downwards
A bearish descent downwards to the next support line at 1.38156 is considered certain.
Caution: A possible reversal of the trend in the direction of the resistance line at 1.38624 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bullish trend broke through the Fibonacci 0.79-Level.Continuation of the current descending trend is considered certain. Target of the current trend is 1.38133 at the Fibonacci level 1-Level. Caution: A possible reversal of the trend in the direction of the support line at 1.38624 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 1.38624 |
| Current Price | 1.38180 |
| Next Low | 1.38156 |
| 2nd Low | 1.38141 |
| 3rd Low | 1.38133 |