USDCAD Approaching Resistance, Potential Reaction!
USDCAD is approaching its resistance at 1.3079 (61.8% Fibonacci extension x 2, horizontal swing high resistance) where we it could potentially fall to its support at 1.2728 (61.8% Fibonacci retracement, horizontal swing low support). We do have to be cautious of the intermediate support at 1.2919 (23.6% Fibonacci retracement, horizontal overlap support).
Stochastic (55, 5, 3) is approaching its resistance at 99% where a corresponding reaction could occur. We have also identified a bearish divergence with price which contributes to our bearish bias.
Stochastic (55, 5, 3) is approaching its resistance at 99% where a corresponding reaction could occur. We have also identified a bearish divergence with price which contributes to our bearish bias.
Note
USDCAD dropped to our first profit target!
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.