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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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.