Tickmill

USDCAD facing bearish pressure, potential for more downside!

Short
FX:USDCAD   U.S. Dollar / Canadian Dollar
USDCAD is facing bearish pressure from descending trendline resistance as well as horizontal pullback resistance and is in line with 127.2% Fibonacci extension and 61.8% Fibonacci retracement . Prices might push down towards -27.2% Fibonacci retracement and 100% Fibonacci extension fibonacci confluence zone. If prices push up further, prices might face resistance from horizontal swing high resistance in line with 50% Fibonacci retracement . Ichimoku cloud is also above prices, showing a bearish pressure for prices.


This analysis is provided as general market commentary and does not constitute investment advice.

Comments

Home Stock Screener Forex Screener Crypto Screener Economic Calendar About Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter