🍁USD/CAD Still on the rise.
🍁That's as I wrote last time. USD/CAD in my opinion has really strong upside potential in the next few weeks.
🍁 Looking at how today's daily candle looks. It's not hard not to get the impression that green days are ahead.
🍁 All thanks to a bounce from a strong support zone and a retest.
🍁 The support zone was determined by a cluster of two fibo levels.
The first is the 0.5 level of the entire downward wave from the 2016 peak to the 2021 bottom. The second is the 0.236 level of the entire upward wave from the 2007 bottom to the 2016 peak.
🍁 There is also a strong resistance zone defined above the recent peaks. It was determined by a cluster of two fibo levels. The first is the 0.786 level of the entire downward wave from the 2016 peak to the 2021 bottom. The second is the outer level of the 1.272 level of the entire downward wave from the 2009 peak to the 2011 bottom.
🍁This is where I expect a strong price reaction.
🍁The scenario I'm playing out is a continuation of the upside and a breakout to new highs. I'm aware of the possibility of a correction at any time, this should be taken into account, If the outlook changes I will publish a post with an update, so I encourage you to actively follow the profile and read the description carefully.
🍁*Please do not suggest the path I have outlined with lines it is only a hypothetical scenario.
🚀If you appreciate my work and effort put into this post then I encourage you to leave a like and give a follow on my profile.🚀
🍁That's as I wrote last time. USD/CAD in my opinion has really strong upside potential in the next few weeks.
🍁 Looking at how today's daily candle looks. It's not hard not to get the impression that green days are ahead.
🍁 All thanks to a bounce from a strong support zone and a retest.
🍁 The support zone was determined by a cluster of two fibo levels.
The first is the 0.5 level of the entire downward wave from the 2016 peak to the 2021 bottom. The second is the 0.236 level of the entire upward wave from the 2007 bottom to the 2016 peak.
🍁 There is also a strong resistance zone defined above the recent peaks. It was determined by a cluster of two fibo levels. The first is the 0.786 level of the entire downward wave from the 2016 peak to the 2021 bottom. The second is the outer level of the 1.272 level of the entire downward wave from the 2009 peak to the 2011 bottom.
🍁This is where I expect a strong price reaction.
🍁The scenario I'm playing out is a continuation of the upside and a breakout to new highs. I'm aware of the possibility of a correction at any time, this should be taken into account, If the outlook changes I will publish a post with an update, so I encourage you to actively follow the profile and read the description carefully.
🍁*Please do not suggest the path I have outlined with lines it is only a hypothetical scenario.
🚀If you appreciate my work and effort put into this post then I encourage you to leave a like and give a follow on my profile.🚀
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💲 To keep up to date with all my activities I invite you to visit my Telegram 💲
💲 www.t.me/Investmatez 💲
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