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The USD/CAD chart is exhibiting a bullish momentum, suggesting a potential scenario for price to pull back towards the 1st support level before making a bullish bounce towards the 1st resistance level.
The 1st support level at 1.3692 is identified as an overlap support while the 2nd support level at 1.3607 is also noted as an overlap support. To the upside, the 1st resistance level at 1.3784 is identified as a swing-high resistance that aligns with the 78.60% Fibonacci projection level. Higher up, the 2nd resistance level at 1.3846 is noted as a resistance level that aligns with the 127.20% Fibonacci extension level.
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*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
During the European session, the euro reached a new high around +2/8 Murray, located at 1.1473. This movement in EUR/USD occurred after the announcement by China's Ministry of Finance that
Early in the American session, gold is undergoing a strong technical correction after reaching a new high around 3,237.69 for now. Economic data from the United States will be released
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The Eagle indicator is reaching oversold levels and is giving a negative signal, so we will look for opportunities to sell below 3,145 or below 3,131 with a target
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