(1h) The eventual bullish 2618 & shark pattern

٢٥ مايو ٢٠٢٠

USDCAD

One technical double bottom reinforced by the most recent daily fractal support printed at 1.38682, one broken neck at 1.39608 and the most recent 4h fractal resistance printed at 1.40488 right above the default target for the double bottom projected at 200%, and a couple of points above the golden 61.8% fib retracement level.

The bullish 2618 requires a retracement back to the 61.8% fib, projected at 1.39373. The pattern will converge with one bullish shark completion point (224% fib extension) and will suggest the reinforcement of one ascending trendline supporting the most recent daily and 4h fractals.