USDCAD holding below descending trendline resistance and moving average. A short term drop below 1st resistance at 1.20815 towards 1st support at 1.20483 could be possible.
Reason for Entry:
61.8% Fibonacci retracement, descending trendline resistance
Take Profit: 1.20483
Reason for Take Profit:
50% Fibonacci retracement
Stop Loss: 1.21050
Reason for Stop Loss:
76.4% Fibonacci retracemen
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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