Condiciones de negociación
Products
Herramientas
The depicted chart shows that the USD/CAD bulls failed to show enough momentum above 1.1200 during the last visit on March 20. The bears took advantage and pushed the pair towards the price zone of 1.0910-1.0850 (50-61.8% Fibonacci levels).
The USD/CAD pair returned to test the previous support zone around 1.0900 (50% Fibonacci level) which previously provided a considerable support at retesting on February 19.
Daily closure below 1.0920 took place briefly. However, it didn't take long time to get a bullish engulfing daily candlestick as a bullish reaction on the next day.
On the other hand, on the 4H chart, the price zone of 1.0990-1.1045 ( 38.2% Fibonacci of the most recent bearish swing ) is expected to provide a considerable resistance as well. This price zone corresponds to a recently established resistance zone too.
The current prices will probably offer a valid sell entry with stop loss located just above 1.1080.
It's important to note that the 4H chart reveals bullish pressure being applied over this resistance zone (levels of 1.1000-1.1030) with successive ascending bottoms and a little probability of bullish breakout.
This may threatens our SELL entry level, so bears should watch price action carefully and stick to the stop loss level mentioned above .
¡Los informes analíticos de InstaForex lo mantendrá bien informado de las tendencias del mercado! Al ser un cliente de InstaForex, se le proporciona una gran cantidad de servicios gratuitos para una operación eficiente.