USD/CAD

What happened previously?

USDCAD  rallied and reached our 1st resistance target.

What can we expect?

We are seeing price to close above the upside confirmation and there’s a bullish Ichimoku cloud providing support too. If price closes above the upside confirmation, we could be seeing a nice bounce from here that can push prices all the way up to major resistance at 1.4131.

UKOIL

What happened previously?

UKOIL tested out support at 30.76 and went down to retest it. We found the support level to be confluence level of a 4.414% Fibonacci retracement and a 161.8% Fibonacci extension.

What can we expect?

View unchanged. We are seeing the price to retest the first 1 support now at 29.41 and likely to bounce from there. Stochastics are reaching a new low at 0.48 which serve as a good support for price. If price drops past 1st support, it may drop till the 2nd support where the 227.2% Fibonacci extension stands.

 

XAUUSD

What happened previously?

XAUUSD went reversed at the 1st resistance at 1520.67 and holds well below the descending trend line. The resistance level happens to be a confluence level of a 61.8% Fibonacci retracement and a 78.6% Fibonacci extension.

What can we expect?

We are seeing prices to drop towards 1st support at 1444.24and likely to bounce from there. Ichimoku cloud is also showing some bearish momentum for the drop to happen.  The 1st support happens to be where horizontal swing low and 61.8% Fbionacci extension lines up. 

 

XCUUSD

 

What happened previously?

XCUUSD tested out support at 2.3243 and bounced from there. We found the support level to be a 78.6% Fibonacci extension.

What can we expect?

We are seeing price to bounce further from the first 1 support. Stochastics are bouncing from  a new low at -0.78 which serve as a good support for price. 1st resistance is a confluence level of a 23.6% Fibonacci retracement and horizontal swing high resistance.

 

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