CANADIAN DOLLAR FUTURES (6C1!), H1 Potential For Bearish Drop


Sort: Bearish MomentumKey Ranges:Resistance: 0.77755Pivot: 0.77410Support: 0.76840Preferred Case:On the H1, with worth transferring under the ichimoku cloud and alongside a descending trendline , we’ve a bearish bias that worth will drop from the pivot at 0.77410 according to the overlap resistance and 23.6% fibonacci retracement to the first help at 0.76840 the place the swing low help and -61.8% fibonacci enlargement are.Different State of affairs:Alternatively, worth might break pivot construction and head to the first resistance at 0.77755 the place the swing excessive resistance, 100% fibonacci projection , 78.6% fibonacci projection and 61.8% fibonacci retracement are.Fundamentals:Current Canadian Greenback energy had been barely reversed with Canadian GDP month-on-month being launched at 0.3% (Earlier: 0.7%) indicating a decelerate in financial exercise and development, giving us a medium bearish view on the Canadian Greenback .


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