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29.09.2020 01:31 PM
USDCAD holding below descending trendline resistance, further drop expected!

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USDCAD holding below descending trendline resistance and also moving average. A short term drop below 1st resistance at 1.33806 towards 1st support at 1.33457 is possible.

Trading Recommendation

Entry: 1.33806

Reason for Entry:

50% fib retracement, moving average

Take Profit : 1.33457

Reason for Take Profit:

100% fib retracement

Stop Loss: 1.33964

Reason for Stop loss:

Recent swing high

Dean Leo,
Analytical expert of InstaForex
© 2007-2024
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