USDCADOne technical double bottom reinforced by the most recent daily fractal support printed at 1.38682, one broken neck at 1.39608 and the most recent 4h fractal resistance printed at 1.40488 right above the default target for the double bottom projected at 200%, and a couple of points above the golden 61.8% fib retracement level.
The bullish 2618 requires a retracement back to the 61.8% fib, projected at 1.39373. The pattern will converge with one bullish shark completion point (224% fib extension) and will suggest the reinforcement of one ascending trendline supporting the most recent daily and 4h fractals.
I am a financial market analyst based in Porto, Portugal. I provide market forecasts to a group of professional traders, playing a crucial role in assisting them in making well-informed decisions in the financial markets.
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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.
I am a financial market analyst based in Porto, Portugal. I provide market forecasts to a group of professional traders, playing a crucial role in assisting them in making well-informed decisions in the financial markets.
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.