28.01.202220:13 Forex Analysis & Reviews: USDCAD at important Fibonacci resistance.

USDCAD is trading around 1.2764. Short-term trend is bullish but price has reached important resistance at 1.2767 where we find the 61.8% Fibonacci retracement of the entire decline from 1.2962 to 1.2450.

Exchange Rates 28.01.2022 analysis

Black lines - Fibonacci retracements

Green lines - Equal size upward movements

USDCAD is very likely to turn lower and form an important top at recent highs at 1.2795. First of all as we mentioned above, price has reached the key Fibonacci resistance at 1.2767. Moreover the second leg higher is almost equal to the first upward movement from 1.2450 to 1.27. Price continues making higher highs and higher lows, technically trend remains bullish. A break below 1.27 would be the first signal of a reversal to the downside.

*Phân tích thị trường được đăng tải ở đây có nghĩa là để gia tăng nhận thức của bạn, nhưng không đưa ra các chỉ dẫn để thực hiện một giao dịch.

Alexandros Yfantis,
Chuyên gia phân tích của InstaForex
© 2007-2022
Benefit from analysts’ recommendations right now
Top up trading account
Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.

Không thể nói chuyện ngay bây giờ?
Đặt câu hỏi của bạn trong phần trò chuyện.