Priceline of US Dollar / Canadian Dollar forex pair is moving within an up channel and now hitting the channel's support.
Volume profile of complete channel is showing less interest of traders at channel's support But MACD is strong bearish and Stochastic is strong bearish so i would suggest if the MACD turns weak bearish or Stochastic gives bull cross then buy or take the long position. I have used Fibonacci sequence to set the sell targets:
In my honest opinion. That trend line was drawn to show a bias- a long bias, but in reality, if you move the trend line dynamically, as the highs or lows are made you would see that the weekly was broken. Hey, It’s just my .02 cents, and that ain’t worth much.