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18.09.2020 01:21 PM
USDCAD holding above ascending trendline support, bounce expected!

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USDCAD holding above ascending trendline support and 1st support at 1.31453. With stochastics testing support where price bounced in the past as well, a further push up towards 1st resistance at 1.31858 can be expected.

Trading Recommendation

Entry: 1.31453

Reason for Entry:

Ascending trendline support

Take Profit : 1.31858

Reason for Take Profit:

38.2% fib retracement

Stop Loss: 1.31054

Reason for Stop loss:

-27.2% fib retracement, 100% Fib extension

Dean Leo,
Analytical expert of InstaForex
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