USDCAD is facing bullish pressure from our upside confirmation at 1.2838, in line with the 78% fib extension and horizontal swing high, where we could see a further bounce above this level towards 1st resistance where 127% fib extension is. EMA also shows that price is on support.
Trading Recommendation
Entry: 1.2838
Reason for Entry:
78% fib extension and horizontal swing high
Take Profit: 1.2931
Reason for Take Profit:
127% fib extension
Stop Loss: 1.2781
Reason for Stop Loss:
horizontal pullback support
