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13.08.2018 07:38 AM
USD/CAD Approaching Resistance, Prepare For Reversal!

USD/CAD is approaching its resistance at 1.3162 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap resistance) where it is expected to reverse down to its support at 1.3053 (100% Fibonacci extension, 76.4% Fibonacci retracement, horizontal overlap support). Stochastic (89, 5, 3) is approaching its resistance at 96% where a corresponding reversal is expected.

USD/CAD is approaching its resistance where we expect to see a reversal.

Sell below 1.3162. Stop loss at 1.3219. Take profit at 1.3053.

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Dean Leo,
Analytical expert of InstaForex
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