VasilyPonomarev
Short

USDCAD: Fib.Analysis & Key Levels

FX:USDCAD   U.S. Dollar / Canadian Dollar

it looks like USDCAD finally broke below the major rising trend line .
sellers show their willingness to push lower.

here are the next goals:
1.30 - 1.31 zone is the first support.
it is based on structure and 618 of the major bullish weekly leg.

1.28 - 1.29 zone is the second support.
it is purely based on structure.

it looks like the market will soon reach one of these supports so we keep being bearish biased here.

1.33 - 1.34 is the closest resistance cluster.
it is based on a broken trendline , horizontal structure and 50 of the major bullish impulse.


because our key levels are quite wide, trade them only with confirmation on a lower time frame.

Comments

this is my
Reply
VasilyPonomarev Yuriy_Bishko
@Yuriy_Bishko, good outlook!
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Agree with you
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VasilyPonomarev Yuriy_Bishko
@Yuriy_Bishko, thanks!
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The bull are awakening ;)
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great chart and technical overview. thank you for the updates today.
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VasilyPonomarev ProjectSyndicate
@ProjectSyndicate, you are welcome 🙏
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I guess the sellers have to push really hard, because of the strong trend and the key level resistance.
Reply
@Rosemanoso, thank you for comment bro!
Reply
Rosemanoso VasilyPonomarev
@VasilyPonomarev, Much respect brother
Reply
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