Many indicators are giving the same signal and the same zone as buy zone. They are: the Fibonacci
retracements are conjuncted, moreover they are conjuncted on a zone where there are many support zones; RSI is giving a bullish signal as well. Furthermore, EMA 55 and EMA 21 Support and Resistance zone rejected the price.
I am pretty convinced that there is a...
There is a clear Downtrend Channel, the 50% Fibonacci level held, that level had matched with the Bollinger Bands, ADX's Bearish force is down, and then there is pretty Shooting Star Candle. Placing my trades for SELL position... And do not forget about Risk Management ;)
Fibonacci 0.618 is the strongest of them
all so it will hold, the price will push to
the next Fibo level 0.764 then will drop
due to the Oil price (as we know Oil has
very heavy place in Canadian Economy.)
will push Canadian up which means USD
will drop against it.