Technical analysis of USD/CAD 08/09/2019

The USD/CAD currency pair showed a downward correction in the upward channel on the 4H time frame. The price found support in the area of the level of 1.3220 (38.2% Fibo).
At the moment, there is reason to continue the correction to the level of 1.3180 (50% Fibo), which coincides with (MA100) and the lower border of the ascending channel in a 4H time frame, after which resumption of upward movement in the channel with a target above 1.3340 is resumed.
Cancellation of the pair growth option after correction will be a decrease below 1.3130, which will indicate a breakdown of the lower boundary of the channel, level (61.8% Fibo), as well as (MA100) in the 4H time frame.


Created by Joshua Hayn

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