USD/CAD – 1H – SELLThe currency pair US Dollar/Canadian Dollar (USD/CAD) goes from the bearish trendline down.
A continuation of the downtrend downwards to the next support level at 1.39273 will continue.
Caution: A possible reversal of the trend in the direction of the resistance level at 1.40207 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend will continue. Target of the current trend is 1.3953024 at the Fibonacci level 0.24-Level. Caution: A possible reversal of the trend in the direction of the support line at 1.40207 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.41023 |
| 2nd High | 1.40363 |
| Next High | 1.40207 |
| Current Price | 1.39557 |
| Next Low | 1.39273 |
| 2nd Low | 1.39249 |
| 3rd Low | 1.38418 |