USD/CAD Long-Term Trend: Neutral
Key Resistance Levels: 1.2776, 1.2850, 1.2945
Key Support Levels: 1.2640, 1.2497, 1.2307
The price on the higher time frame is under a key resistance point and looks like a reversal but the price is still maintaining above the Support and there is no clear direction yet. Bearish bias seems strong as long as it is under Resistance1.
USD/CAD Medium-Term Trend: Bearish
Price continued a bearish move for the last 10 days of December and then made a trend reversal. Touched key resistance at 1.2780 and now looks to be changing the direction again towards bearish side. We expect it to continue the move on the short side for the upcoming days.
Sell Stop Order @ 1.2729
TP 1 @ 1.2659
TP 2 @ 1.2645
Stop Loss @ 1.2758 Trade Safely 🙂