USD/CAD – 1H – SELLThe currency pair US Dollar/Canadian Dollar (USD/CAD) goes from the bullish trendline downwards
A bearish descent downwards to the next support at 1.36692 will persist.
Caution: A possible reversal of the trend in the direction of the resistance level at 1.37071 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
Also there is a ‘Exponential Moving Average 200 (EMA 200)’ indicator signal is detected. The indicator is ‘Exponential Moving Average 200 (EMA 200)’. this is usually a bearish signal. The pair is likely to go down.
Also there is a ‘Resistance Level’ indicator signal is discovered. The indicator is ‘Resistance Level’. this is usually a bearish signal. The pair is likely to go down.
Correction of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend will persist. Current target is 1.36828 at the Fibonacci level 0.5-Level. Caution: A possible reversal of the trend in the direction of the support level at 1.37071 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.37425 |
| 2nd High | 1.37314 |
| Next High | 1.37071 |
| Current Price | 1.37003 |
| Next Low | 1.36692 |
| 2nd Low | 1.36342 |
| 3rd Low |
1.37071 – 1.37041 – 1.36760 – 1.36692 – 1.36342 – 1.36521