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FX.co ★ USDCAD holding above ascending trendline support, bounce expected!

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Forex Analysis:::2020-09-18

USDCAD holding above ascending trendline support, bounce expected!

analytics5f6498262e5bc.jpg

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
Analyst InstaForex
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