USDCAD testing both its resistance and support!
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USDCAD is being squeezed by both its resistance at 1.2937 (38.2% Fibonacci retracement, horizontal overlap resistance) and ascending support line. If it surpasses its 1st resistance, it could potentially rise to its 2nd resistance at 1.3000 (61.8% Fibonacci retracement, horizontal pullback resistance). If it breaks past its ascending support line, we could see price falling to its 2nd support area between 1.2786 and 1.2762 (38.2% Fibonacci retracement, 50% Fibonacci retracement, 61.8% Fibonacci extension, horizontal pullback support).
Stochastic (89, 5, 3) is in the middle which presents a neutral idea. We did however identify a bearish divergence with price.
Stochastic (89, 5, 3) is in the middle which presents a neutral idea. We did however identify a bearish divergence with price.
Dagangan ditutup: sasaran tercapai
Bearish divergence proved right and price broke out of its ascending support line and reached our support target!
Penafian
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