Daily TF on USDCAD shows us a global uptrend. 4HTF – both EMAs (48,13) are pointing slightly up, following a Golden Cross on October 2nd. We are waiting for the price to break above the 61.8% Fibo at 1.33426. Targets up are going to be at resistance, starting with 1.33827 and then 1.34304.
If the price breaks the local trend line down and moves below the 50% Fibo level, targets down can be considered in the area of support/resistance at 1.32515, then the 38.2% Fibo at 1.32209.
If the price breaks the local trend line down and moves below the 50% Fibo level, targets down can be considered in the area of support/resistance at 1.32515, then the 38.2% Fibo at 1.32209.