empty
 
 
24.03.2021 12:20 PM
USDCAD reaching key resistance! Pullback incoming!

This image is no longer relevant

Price approaching key Fibonacci resistance zone. With stochastic testing resistance where price pulled back in a past, an intraday pullback below 1st resistance at 1.26170 towards ascending trendline support and 1st support at 1.25612 could be likely.

Trading Recommendation

Entry: 1.26170

Reason for Entry:

-27.2% Fibonacci retracement, 78.6% Fibonacci extension

Take Profit: 1.25612

Reason for Take Profit:

50% Fibonacci retracement, ascending trendline support

Stop Loss: 1.26572

Reason for Stop Loss:

-61.8% Fibonacci retracement, 78.6% and 100% Fibonacci extension

Dean Leo,
Analytical expert of InstaForex
© 2007-2025
Summary
Urgency
Analytic
Dean Leo
Start trade
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $6000 more!
    In December we raffle $6000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback