USDCAD tested major resistance, potential for a reversal!
USDCAD tested major resistance at 1.2916 ( 100% Fibonacci extension , ST 100% Fibonacci extension , bearish divergence, multiple swing high resistance) where it has the potential to fall to its 1st support at 1.2756 (100% Fibonacci extension , 50% Fibonacci retracement , 23.6% Fibonacci retracement , Horizontal overlap support). If it breaks past this level, it could potentially fall to its next support at 1.2669 (100% Fibonacci extension , 38.2% Fibonacci retracement , 78.4% Fibonacci retracement , 50% Fibonacci retracement , horizontal swing low support).
Stochastic (89, 5, 3) shows that it has made a corresponding reaction off its resistance at 98.7% and has to potential to fall. We have also identified a bearish divergence between price and stochastic levels.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic (89, 5, 3) shows that it has made a corresponding reaction off its resistance at 98.7% and has to potential to fall. We have also identified a bearish divergence between price and stochastic levels.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
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