USD/CAD – 1H – BUYThe currency pair jumps from the bullish trendline down.
A descending movement down to the next support at 1.38914 is considered certain.
Caution: A possible trend reversal in the direction of the resistance line at 1.39585 could happen.
Consider stop-loss settings accordingly.
Correction of the major bullish trend halted around the Fibonacci 0.7-Level.Continuation of the current ascending trend is considered certain. Current target is 1.391735 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of the resistance line at 1.39585 could happen.
Consider stop-loss settings accordingly.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 1.39585 |
| Current Price | 1.39023 |
| Next Low | 1.38914 |
| 2nd Low | 1.38904 |
| 3rd Low | 1.38762 |