USDCAD ENDING A RETRACEMENT ZONE, ABOUT TO CALL BULLS AND CONTINUE ITS DOWN TREND TO AROUND 1.31500 TP ZONE. SUPPORT AREA OF INTEREST AROUND 1.32425, TO WAIT FOR ADITIONAL SIGNALS OR POSSIBLE MINOR RETRACEMENT TO THEN CONTINUE ITS JOURNEY TO OUR TP ZONE. TP AREA 1.31500 TO 1.31450.
FIB trace tool used to identify retracement and confirm a continuation to its downtrend pattern of Sep. TP zone identify between two resistance / support areas. Between .62700 and .62550. Once in this zone, watch carefully for future indicators to understand if it switches trend or not.
TP1 - 67500 & AWAITING SIGNALS, (POSSIBLE MINOR RETRACEMENT A FEW PIPS IN THIS ZONE) TP2, 67203 FIBONACCI TOOLS USED TO CONFIRM RETRACEMENT PATTERN TAKING PLACE.
POSSIBLE DOWNTREND CONTINUATION AFTER SHORT UP WAVE (50% FIB) TO THEN CONTINUE DOWN TREND.
WATCH FOR ENTRY SIGNALS AS MARKET RETURNS AND COSOLIDATES PRICE IN UPTREND SWING.
Downtrend with Fibinacci Confirmations.