USDCAD BOUNCE OR BREAK?
Will be looking for a bounce or break at the third touch of the ascending trendline @1.2800.
This area is confluent with prior support & resistance.
Falls upon the 50% fib level as well as the 200MA.
Will prefer a long move in order to trade with the trend.
Target will be to create a new higher high if there is a bounce with appropriate price action. Target will be the -27% fib which is confluent with historical support and resistance at 1.3800.
This area is confluent with prior support & resistance.
Falls upon the 50% fib level as well as the 200MA.
Will prefer a long move in order to trade with the trend.
Target will be to create a new higher high if there is a bounce with appropriate price action. Target will be the -27% fib which is confluent with historical support and resistance at 1.3800.
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