USD/CAD Long-Term Trend: Bearish
Key Resistance Levels: 1.2853, 1.2973, 1.3021
Key Support Levels: 1.2701, 1.2620, 1.2512
The price on the higher time frame has reversed the direction after facing a rejection around the 1.3075 level. The pair succeeded in breaking a major support level of 1.2896 and another minor support level of 1.2841 is also broken which indicates a bearish bias.
USD/CAD Medium-Term Trend: Bearish
On the lower time frame, the pair is moving in the major trend’s direction. The price started the downtrend after facing rejection from the top and sustained below the 1.2973 level. The pair has also broken and retested the 1.2853 level before continuing the momentum.
Sell Stop Order @ 1.2783
TP 1 @ 1.2704
TP 2 @ 1.2625
Stop Loss @ 1.2862
Trade Safely 🙂