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FX.co ★ USDCAD retesting 1st resistance , potential for further drop !

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Forex Analysis:::2020-08-21T10:22:39

USDCAD retesting 1st resistance , potential for further drop !

USDCAD retesting 1st resistance , potential for further drop !

Price is facing bearish pressure from our 1st resistance, where we could see a further drop towards 1st support. EMA is also indicating more bearishness to come .

Trading Recommendation

Entry: 1.32191

Reason for Entry:

38% fib retracement

Take Profit :1.3143

Reason for Take Profit: Horizontal swing low

Stop Loss: 1.3228

Reason for Stop loss:

Horizontal swing high

Analyst InstaForex
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