USD/CAD, H4, trend short.
Break of the former horizontal support, current resistance.
Break of Fibonacci 61.8%.
Breakout test, followed by rebound in a downtrend direction.
Price Action: Hanged man of resistance levels
Indicators give mixed signals.
Price above 50SMA.
Price above 200SMA.
DeMarker, tursn up below 0.3 – positive signal!
Alternative scenario: Break of the former horizontal support, current resistance, would turn the price again into bullish trend channel.
Trader – G.Bozhidarov