USDCAD: Has topped on a 1 year basis. Sell breakout signal ahead
USDCAD has been trading inside a 13 month Rectangle with clear R1 and S1 Zones. Right now the 1D technical outlook is slightly over the bullish mark (RSI = 56.814, MACD = 0.004, ADX = 33.246) as it is on LH after the November 1st rejection inside the R1 Zone.
This is an early sell signal but validation will come if the market closes a 1D candle under the 1D MA50, which hasn't happened since August 1st. If it does, we will target the 0.786 Fibonacci retracement level (TP = 1.33250).
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This is an early sell signal but validation will come if the market closes a 1D candle under the 1D MA50, which hasn't happened since August 1st. If it does, we will target the 0.786 Fibonacci retracement level (TP = 1.33250).
## If you like our free content follow our profile to get more daily ideas. ##
## Comments and likes are greatly appreciated. ##
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Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial
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