After an impulsive move down to break a 6 month support, the Canadian dollar has found some support and spent the last 5 days in retracement. As price approaches the 38.2 Fibonacci retracement level of the current downtrend, we see that same level shows to also be previous key support and resistance. Watching the ...
Canadian dollar at a 2 week support level, in terms of shorter term counter trend, this could be a good buy level targeting the 61.8 Fibonacci extension as possible resistance, however looking at the larger trend, if price were to break support- look for a larger continuation to downside.
A potential Elliott wave pattern forming from the start of the Brexit crash in July, we can see the proper Elliott wave formation thus far, potentially entering the 5th wave down. Also a Head and Shoulders pattern further agrees with a 5th wave push down, where we can see a Fibonacci cluster zone around the 1.21 ...
Here we see an impulsive move up to start the week, followed by a pullback to the 61.8 Fibonacci level. Watching to see if price respects the blue trendline and continues a move higher. Also watching the red zones which are previous resistance + Fibonacci extension areas for potential take profit targets.
Here we see a few sell signals including:
- Head and shoulders forming, waiting for break of trend line
- price falling below the 13 and 21 EMA
- Fibonacci clusters/target zones at:
- Recent breakout of USD
Additionally, the bearish reaction to the better than expected retail ...
Here we see price approaching 4 month support level, the last test of the support reversed at a higher low, this current test of support has again paused at a higher low then the previous test. There are also reversal candlesticks at the current level, if price breaks above the current range high of .749, looking ...
Here we see price moving off of a larger time frame trend support line which is also a 78.6 Fibonacci retracement. If price breaks the green dash trend line, after a retest look to go long, if it fails to make a higher high and continues down, watch for a retest of the larger timeframe trendline or break for a ...
With price at a key resistance level in a triangle formation,we're looking for indications of the next direction. Because of lower than expected unemployment numbers for the month of September (-9.8k vs. 15k expected) just released, ill be looking for short positions.
Looking at a 5 day price chart we see price may have formed a top at the 161.8 fibonnacci extension level-which began from the 2009 low, and followed elliot wave theory up to the 5th wave. Now looking for the corrective move to play out, possibly in the illustrated form.
Coming off a triple top bearish pattern, price is at the lowest level since July. If the current trend continues down I'm looking at the 38.2, 50, and 61.8 Fibonacci retracement levels to cover the position.
Head and Shoulders technical pattern + break of 2 year trend resistance = long bias
Watching for a pullback off the double top, keeping eye on 50% Fibonacci retracement which is also the 2 year profile POC, for potential reversal zone.
Price approaching a 1 year trend-line support, which is a part of the larger time frame flag/triangle pattern formation.
Elliott Wave principle is showing a 12345 impulsive move followed by an abc correction. Looking for reaction at this key support level to determine the direction of larger trend.
From a technical view we see head and shoulders completing and breaking down below a key 2016 support level. Key support levels at targets 1, 2, and 3 based on Fibonacci extension and retracement commonality zones.
based on the head and shoulders forming, if price gets rejected at the current level looking to enter short and watching for rebalance around the 2040-2060 price level based on the Fibonacci cluster zone and the head and shoulders trend line
Fundamentally good company compared to industry averages -
Bullish technical indicators showing confluence around the $12.50-$13 zone including:
- ABCD pattern
- 70.7% Fibonacci retracement level
- 161.8 Fibonacci extension level
- Trend ...