Overview:

A bullish breakout above the zone of 1.2770-1.2800 was observed on July 15 (highlighted in pink).

The long-term bullish target was projected towards the level of 1.3270 (100% Fibonacci Expansion). However, bulls moved further above the resistance level, which was bypassed on September 23.

Significant bearish rejection was observed around 1.3450 where the 141.4% Fibonacci Expansion was roughly located.

Later on October 1, bearish persistence below 1.3270 (Fibonacci Expansion 100%) was expressed. This applied enough bearish pressure to expose the next support levels around 1.2910 and 1.2750 where long-term buy entries were suggested.

On October 23, daily closure above 1.3100 was achieved. This enhanced the bullish side of the market.

The level of 1.3270 (Fibonacci Expansion 100%) got exposed shortly after USD/CAD bulls managed to push above the level of 1.3100.

On October 28, a valid sell entry was suggested around the level of 1.3270 (FE 100%). Target levels are located at 1.3075 and 1.2930.

Una ruptura bajista por debajo del nivel de soporte de 1.3075 fue obligatoria para permitir una futura caída bajista hacia 1.2930. No obstante, un evidente rechazo alcista fue expresado alrededor de este nivel.

En consecuencia, otra visita alcista hacia el nivel de 1.3270 (FE 100%) se está ejecutando según lo anticipado en los artículos anteriores.

La acción del precio debe observar alrededor del nivel del precio de 1.3270 de forma diaria, ya que una ruptura diaria por encima de 1.3300 directamente expone el próximo nivel de resistencia a 1.3450 que corresponde con el 141.0% de FE.

Recomendaciones de trading:

Los operadores arriesgados pueden colocar posiciones de venta alrededor de 1.3270-1.3300 (considerado una operación arriesgada ya que la vela semanal reciente sguiere más avance alcista).

Los traders conservadores deben esperar para comprar alrededor de la reciente zona de ruptura (1.2800-1.2750) ya que la zona de ruptura constituye un soporte fuerte.