Canadian dollar broke lateral channel at 88.80 and is testing again double top. Level 89.72 on eye. Above it and confirmed: next target expected 91.00.
Potential bearish white swan - TF 15M & 30M - Overbought 1H
Bullish white swan + Bullish divergence - 1H TF
Area of interest between 4058 / 3900. First price is a weekly support and 2nd coincides with 0.78% fibo of the big rally. Below this area next key levels: 3600 (weekly) + 2955 (monthly resistance - broken but not retested). If price can´t with this area, recent max at 4970. ** Wait for confirmation **
Two technical possibilities: 1. H&S in progress 2. At 1.1853 (long-term support and resistance) we have top and base of the rectangular projection. Besides there is a medium-term key level at 1.2100 close to the top of the 2nd rectangle.
Interesting key level and area to watch. There is an important support & resistance at 0.9875 since 90´s. In addition this area has been decision zone since early 2016. Downtrend line is active also. If it confirms below 0.9875 price could retest 0.9790 and keep going to 0.9655. Otherwise price could retest trendline and 1.0033 (short-term range).
Harmonic pattern complete. Price is fighting short-term support. In case of being broken, a bearish move is possible.
First bearish rectangle complete. Two more. Will see.
Interesting point here for long-term trading. There is a wide range since 2015 and price seems to be rejecting again 82.82 area. Furthermore, a bearish reversal has come up in RSI. Good opportunity if this pattern is confirmed below 82.82
Multiple entry levels to follow next days/weeks.
Potential bearish setup to follow.
Price didn´t reach previous support and it doesn´t seem too strong but apparently we have a possible bullish reversal.
Price has formed an up trendline and is being held by double bottom as well. As long as price doesn´t break this area we could see a retest at 7592. Possible stoploss at 4730.
Formation complete (with an opening gap, though).
CAD is falling like a knife but H&S in progress for a little bit of correction. Not to much risk, maybe worth a try.
We have a long-term resistance at 0.9680. If price can´t break up and confirm above it then we can consider a retest at 0.9555 which is a medium-term support and 0.61% fibo.
Potential short from 0.9060 area to 0.8995.
Price has been rejected from recent down trendline and resistance/support at 1.4946 which coincides with 0.78% fibo of the last fall. Target is at 1.4639 which is local support and 0.61% fibo of the last rally.