USDCAD dropped nicely from our 2nd resistance and might go up to retest the 1st resistance where the 61.8% fib retracement is.
Price could reverse from 1st resistance towards 1st support where the 100% fib extension is. EMA is also showing that more bearishness
is to come.
Trading Recommendation
Entry: 1.3380
Reason for Entry:
61.8% fib retracement
Take Profit: 1.3310
Reason for Take Profit:
100% fib extension
Stop Loss: 1.3415
Reason for Stop Loss:
Horizontal swing high
