The USDCAD pair is crossing over the 0.786 Fibonacci level of the long term range since October 2022.
The last two times it did that break out, it turned into the most efficient sell opportunity. Last time to do so was on November 1st 2023.
With the 1day RSI also deep into the overbought region, we turn bearish.
Sell and target 1.3300 (0.236 Fib, it has been hit all times the pattern gave this sell signal).
Previous chart:
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The last two times it did that break out, it turned into the most efficient sell opportunity. Last time to do so was on November 1st 2023.
With the 1day RSI also deep into the overbought region, we turn bearish.
Sell and target 1.3300 (0.236 Fib, it has been hit all times the pattern gave this sell signal).
Previous chart:
Follow us, like the idea and leave a comment below!!
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