CURRENT FATE OF USDCAD🤔📉
YO! Traders. USDCAD broke an ascending trendline that already had 3 touches and couldn't make the fourth touch due to trendline weakness, Price also broke a support area of 1.26300.
Currently, the price is coming for a retest of broken support structure around a level of 1.26300, A Fibonacci retracement tool was used to back up the confluence resting on the broken support level of 1.26300 and having 50% fibs resting on the same level.
WHAT TO POSSIBLY EXPECT
1. A BEARISH CANDLESTICK REJECTION ON THE 1.26300 LEVEL.
2. 50% FIBONACCI REJECTION ON THE BROKEN SUPPORT AREA
3. A POSSIBLE RETEST ON THE BROKEN TRENDLINE
RUFF NOTES: ALWAYS REACT TO WHAT YOU SEE
KINDLY COMMENT YOUR THOUGHTS BELOW👇👇👇👇
Currently, the price is coming for a retest of broken support structure around a level of 1.26300, A Fibonacci retracement tool was used to back up the confluence resting on the broken support level of 1.26300 and having 50% fibs resting on the same level.
WHAT TO POSSIBLY EXPECT
1. A BEARISH CANDLESTICK REJECTION ON THE 1.26300 LEVEL.
2. 50% FIBONACCI REJECTION ON THE BROKEN SUPPORT AREA
3. A POSSIBLE RETEST ON THE BROKEN TRENDLINE
RUFF NOTES: ALWAYS REACT TO WHAT YOU SEE
KINDLY COMMENT YOUR THOUGHTS BELOW👇👇👇👇
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