23.07.201811:01 Forex Analysis & Reviews: USD/CAD Testing Support, Prepare For A Bounce!

Long-term review

USD/CAD is testing its support at 1.3121 (61.8% Fibonacci extension, 76.4% Fibonacci retracement, 50% Fibonacci retracement, horizontal swing low support) where a bounce up to its resistance at 1.3220 (61.8% Fibonacci retracement) is expected.

Stochastic (55, 5, 3) is approaching its support at 2.6% where a corresponding bounce could occur.

USD/CAD is testing its support where a bounce is expected.

Buy above 1.3121. Stop loss at 1.3057. Take profit at 1.3220.

Exchange Rates 23.07.2018 analysis

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*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Dean Leo,
Analytical expert
InstaForex Group © 2007-2021
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