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TheCryptagon

USDCAD Sell this Fibonacci test

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Dólar Americano/Dólar Canadense (FX_IDC:USDCAD)  
TheCryptagon  
FX_IDC:USDCAD   Dólar Americano/Dólar Canadense
Trend Analysis Chart Patterns Technical Indicators USDCAD Forex USD CAD DJ FXCM Index canadiandollar
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trendanalysis chartpattern indicator usdcad forex usd cad usdollar canadiandollar
USDCAD is trading inside a Triangle with the price rising after it last hit the pattern's bottom (Rising Support).

It has failed to close over Fibonacci 0.618 on six straight days.

This failure is a technical sign of trend weakness, very much alike the struggle on Fibonacci 0.618 last December.

Sell and target the Rising Support again at 1.33550.


Previous chart:

USDCAD Sideways this year, surge in 2024.

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