Hoping to see a push down from black TL & MA as it has done in the past , may fall into a descending channel. First target is around 101.00 then 100.60
Nice possible bounce at trend line. It goes left of the graph so pan to see that.
My indicators agree with the fibs, I know they may be confusing lol.
Buying in at 0.79213 and stop at 0.79100 with a pt of 0.8100
Forecast for the both sides of chart.
Happy trading!
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Something's setting up.
Happy trading!
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I posted a couple of weeks ago about the possibility of the USDCAD breaching the high on the weekly which is highlighted by the red box.
Now that Price has clearly broken it, I am expecting this clear upward momentum to continue. Also to point out, the green trendline has held firm where price has failed to break and close below it, therefore it is safe to assume...
Based on Fib Extension and Structure
Target around 127.2% extension from last move.
IF we break that 127.2% extension THEN we move to 161% zone.
"Look left, structure leaves clues..."
More often than not BTC trends down after the MACD has peaked and crosses into negative territory while being oversold. sometimes is trends sideways to build momentum before going up, so it would be easy to exit, but far more often it seems to trend down.
The 200SMA on this pair has acted as support throughout February in what is a very ranging pair.
We see some selling pressure at 119.9, which is indicated to be holding.
Price action at the current level is indecisive, I could see us travel to 119.3 before bouncing back up as the overall trend is still up on this pair.
I would look for buying support to TP around...
