USDCAD approaching major resistance,potential for a drop!
USDCAD is fast approaching major resistance at 1.2929 (Fibonacci retracement, Fibonacci extension, horizontal swing high resistance, bearish divergence) and a strong reaction could occur at this level to push prices all the way down to major support at 1.2825 (Fibonacci retracement, horizontal swing low support).
Stochastic (55,5,3) is seeing major resistance below 94% where a corresponding reaction could occur. We’re also seeing bearish divergence vs price signalling that a reversal is impending.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic (55,5,3) is seeing major resistance below 94% where a corresponding reaction could occur. We’re also seeing bearish divergence vs price signalling that a reversal is impending.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Come join us today at : easymarkets.com/
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.