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USDCAD approaching resistance, potential for a drop!

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USDCAD approaching resistance area between 1.3102 (100% Fibonacci extension , horizontal overlap resistance) and 1.3161 (61.8% Fibonacci retracement , horizontal pullback resistance) where a potential drop might occur to its 1st support at 1.2919 (100% Fibonacci extension , 61.8% Fibonacci extension ). An ascending channel has also been identified. If it breaks past the 1st support and the ascending channel , it could possibly fall to its 2nd support area at 1.2840 (38.2% Fibonacci retracement , 50% Fibonacci retracement , horizontal overlap support).

Stochastic (55, 5, 3) shows it approaching its resistance at 97.77% where a corresponding reaction could occur.
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Hey guys! Price is reversing nicely! Hope you guys managed to get in on this!

Feragatname

Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.