1.11500 zone is a strong support level and also equivalent with 50% Fibonacci retracement level, so makes the level more stronger, I think just bad news about euro ecosystem's fundamental can break this level.if you see bullish sign after bouncing off from this level go LONG.
Also it can bounce off from 38.2% Fibonacci retracement level and continue uptrend but...
I have reviewed many fundamental parameters and CAD interest rate is decreasing. also USD's interest rate is not changed more than CAD. THE currency pair ( USDCAD ) has broken the resistance level and it must retest it at 38.2% of Fibonacci retracement level. and then continue to rise about 1.31300 level or maybe higher ( but wait for economic data ).
The Price is in a fine down channel but it has been rejected during the growing up with a triple head. then it is very possible to go about lower bound of the channel. TP#1 is somewhere about next support level. and SL is a little above
DAX is growing up in an uptrend inside a very fine channel. but it is about reaching the upper level of the channel. the wait for a bearish pullback and when it bounced from the trend line enter the LONG side.
The symbol is about to reversal near the trend line and the support level (about 125.597) . SL most be below the support level about 125.565 and TP #1 is about 126.277 and TP #2 is about 126.759
Risk/Reward Ratio is for TP#1 1:2 and for TP#2 1:4
The price will grow to 83.730 ( Resistance zone) level. but the level is very strong and it may fall down to 82.630 on continue to be in sideways.
if breaks out the resistance level and successful retest the level between 83.630 and 83.660 it may continue to grow to 85.180 level ( next strong resistance level)
- Last candle stick Feb 8th was bullish and short shadows means buyers has upper hand. also the candle started with a small gap it shows the power of the buyers that had overcame sellers.
- near to the prevailing trend line the price started to turn and maybe trying to make a news trend line means it is very possible to get to the long...
A clear corrective wave has made and then a new 5 type wave is constructing, now the price is on wave 3 and wave 4 ( a corrective pullback) is near. it is very possible to retest the monthly resistance line (the maroon line)
As you can see on the chart, the price has broke out the prevailing downtrend (marked in transparent pink), also a divergence has figured at the end of the uptrend. both are cause of an incoming downtrend. Don't forget the stop loss.
Usually morning gaps must be cover by the price, but there are to possibilities about current cap, 1- trend reversal after the corrective wave ( has shown on the chart and the downtrend maybe like downtrend red impulsive wave ) . 2- continue in another uptrend and fall in a downtrend later.
The price is about to reach the upper trend line ( both longer and shorter time frames) and an ancient resistance area. if breaks out the zone, it will go up until next resistance area. I have marked it with a bold maroon line above the chart but if the price returns and it is very possible, the price will fall until the lower trend line. if breaks the lower...
The Lower swings are going steeply than Higher swings and the market sentiment is in short side. also the inverse head and shoulder has cancelled in daily chart. I think the price is about to making new lower low trough after a small pullback.