USD/CAD - 1D - Analysis
* Not sure why but the thumbnail showing wrong part of chart, click to expand
USDCAD
Still learning and really appreciate feedback. This is just my opinion.
Watching this closely at the moment because it appears to be at quite a pivotal level.
1) The price continues to follow the descending wedge (white) down to the 0% fib level. Looking to see if it bounces of that level to begin an up trend or breaks through down to the support level of 0.19167.
2) The price breaks out of the descending wedge on the upside it could repeat the pattern from May 2016. Meaning the beginning of an up trend from the resistance level of 0.24617.
USDCADStill learning and really appreciate feedback. This is just my opinion.
Watching this closely at the moment because it appears to be at quite a pivotal level.
1) The price continues to follow the descending wedge (white) down to the 0% fib level. Looking to see if it bounces of that level to begin an up trend or breaks through down to the support level of 0.19167.
2) The price breaks out of the descending wedge on the upside it could repeat the pattern from May 2016. Meaning the beginning of an up trend from the resistance level of 0.24617.
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