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FX.co ★ USDCAD looking for short term drop below trendline!

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Forex Analysis:::2020-08-12T09:29:07

USDCAD looking for short term drop below trendline!

USDCAD looking for short term drop below trendline!Price is facing bullish pressure from our 1st support, in line with our horizontal swing low, in line with our 50% fib retracement, where we could see a further bounce towards our 1st resistance . Ichimoku is also indicating more bullishness.

Trading Recommendation

Entry: 75.69

Reason for Entry:

horizontal swing low, 50% fib retracement

Take Profit :76.32

Reason for Take Profit:

Horizontal swing high

Stop Loss:75.11

Reason for Stop loss:

Horizontal swing low

Analyst InstaForex
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