USDCAD > 10/8-13/17 Trade Analysis
Timeframe: 1W
Believe pair is currently in downward correction toward minor support level @ 1.2450/48 level.
If unable to break and hold below 1.2450/48, expecting further rise toward major resistance level @ 1.2770/77
A strong break and hold above 1.2777/80 is needed to target 38.2% fib retracement @ 1.3065 level.
Seeing mixed signals in charting, so awareness recommended that a firm break and hold below 1.2450/48 minor support level could signal short term top and bearish trend likely to continue.
Personal bias: Bullish but will Stand Aside
* Personal analysis only. Please use your own rules and strategies prior to entering market.
** Forex trading involves HIGH RISK.
Before entering a trade, carefully consider your objectives, financial resources and level of experience.
Timeframe: 1W
Believe pair is currently in downward correction toward minor support level @ 1.2450/48 level.
If unable to break and hold below 1.2450/48, expecting further rise toward major resistance level @ 1.2770/77
A strong break and hold above 1.2777/80 is needed to target 38.2% fib retracement @ 1.3065 level.
Seeing mixed signals in charting, so awareness recommended that a firm break and hold below 1.2450/48 minor support level could signal short term top and bearish trend likely to continue.
Personal bias: Bullish but will Stand Aside
* Personal analysis only. Please use your own rules and strategies prior to entering market.
** Forex trading involves HIGH RISK.
Before entering a trade, carefully consider your objectives, financial resources and level of experience.
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