USD/CAD: The Weekly probability is Bearish with the Fibonacci

Tian Kriek

Analyst


January 27, 2020 05:45 AM

BEARISH

Daily Trading Range:
USD/CAD: The Weekly probability is Bearish with the Fibonacci D extension at 1.2700 which is also monthly pivot. The Daily Fibs are retracing deeper inside the existing down AB Boundary, potentially to the backside of the broken monthly up trend line. I am waiting for the daily counter trend line to be broken before I start selling again. Next confluence of resistance is at 1.3183. Get this chart and analysis for free. Copy and Paste the following link in your browser: https://smarttrader.com/charts/tkriek/tk-aod-workspaces-27-jan/

Daily Chart

Daily Chart

Daily Support and Resistance

Resistance 3: 1.3270
Resistance 2: 1.3300
Resistance 1: 1.3450
Current Price 1.3184
Support 1: 1.3000
Support 2: 1.2800
Support 3: 1.2500

Two Hour Chart

Two Hour Chart
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