USDCAD has been exhibiting a bearish trend, with a recent downward price movement that tested the key resistance level of 1.34000.
However, the price retraced to the 50% Fibonacci retracement level of the previous impulse, which could potentially act as a barrier to further upward movement. This retracement also coincides with the price moving back over a daily support level, suggesting a potential lower low move.
As a trader with a short outlook, you may be anticipating a lower low, indicating further bearish momentum. If the price breaks below the daily support level, it could confirm the bearish bias and provide an opportunity for a short order entry according to the Plancton's strategy. This could be supported by the previous resistance level of 1.34 acting as a barrier, and the 50% Fibonacci retracement level acting as a potential resistance.
However, the price retraced to the 50% Fibonacci retracement level of the previous impulse, which could potentially act as a barrier to further upward movement. This retracement also coincides with the price moving back over a daily support level, suggesting a potential lower low move.
As a trader with a short outlook, you may be anticipating a lower low, indicating further bearish momentum. If the price breaks below the daily support level, it could confirm the bearish bias and provide an opportunity for a short order entry according to the Plancton's strategy. This could be supported by the previous resistance level of 1.34 acting as a barrier, and the 50% Fibonacci retracement level acting as a potential resistance.
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Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.