After returning the price to the level specified in blue, you can enter the sale deal!
In my previous two trades in this pair, the specified ratios of the Fibonacci retracement levels, which were selected due to the slope of the channel, had well defined the path of the pair and the range of the midline.
Based on these ratios, I have identified the first, second and third goals.
attention attention!
The Canadian economy and its currency are partly dependent on oil prices.
According to the oil technical chart, the oil price was ready to fall!
But fundamental events such as the Houthi-Saudi conflict and also the closure of the Suez Canal prevent oil prices from falling.
At the beginning of the corona outbreak, some prices changed dramatically due to fundamental factors, but after a while, the impact of those events on the market was neutralized and prices returned to the former technical charts.
This may also be the case for the oil chart.
So if, like me, you enter into this deal, follow the news and oil prices.
In my previous two trades in this pair, the specified ratios of the Fibonacci retracement levels, which were selected due to the slope of the channel, had well defined the path of the pair and the range of the midline.
Based on these ratios, I have identified the first, second and third goals.
attention attention!
The Canadian economy and its currency are partly dependent on oil prices.
According to the oil technical chart, the oil price was ready to fall!
But fundamental events such as the Houthi-Saudi conflict and also the closure of the Suez Canal prevent oil prices from falling.
At the beginning of the corona outbreak, some prices changed dramatically due to fundamental factors, but after a while, the impact of those events on the market was neutralized and prices returned to the former technical charts.
This may also be the case for the oil chart.
So if, like me, you enter into this deal, follow the news and oil prices.