USD/CAD: Price made a lower low and the counter trend line of

Tian Kriek

Analyst


November 24, 2020 11:57 AM

BEARISH

Daily Trading Range:
USD/CAD: Price made a lower low and the counter trend line of the Weekly chart was adjusted to reflect the most recent high. This means that price is still retracing inside the UP Weekly Fibonacci AB Boundary and therefore the Direction of Highest Probability is Bearish. There is also a Down Fibonacci ABCD swing on the daily chart with the D extension about +294 pips away. Please note that 1.3000 is a significant level of pivotal support and it is a good idea to lock profits in the event that price is bouncing Bullish against this level. Currently, price is about +-90 pips away from 1.3000 Get this chart and analysis for free. Copy and Paste the following link in your browser: https://smarttrader.com/charts/tkriek/tk-aod-ny-workspaces_5/

Daily Chart

Daily Chart

Daily Support and Resistance

Resistance 3: 1.5200
Resistance 2: 1.5000
Resistance 1: 1.4800
Current Price 1.3110
Support 1: 1.3000
Support 2: 1.2800
Support 3: 1.2500

Two Hour Chart

Two Hour Chart
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