Main Quotes Calendar Forum
flag

FX.co ★ USDCAD facing bearish pressure, potential for further downside!

parent
Forex Analysis:::2021-02-22T09:15:46

USDCAD facing bearish pressure, potential for further downside!

USDCAD facing bearish pressure, potential for further downside!

USDCAD is facing bearish pressure from its 1st resistance at 1.2611, in line with 23.6% fib retracement. We could see a further drop below this level towards 1st support where the 161.8% fib retracement is. EMA is also suggesting that price could drop further.

Trading Recommendation

Entry: 1.2611

Reason for Entry:

23.6% Fibonacci retracement

Take Profit: 1.2526

Reason for Take Profit:

161.8% fib retracement

Stop Loss: 1.2663

Reason for Stop Loss:

61.8% Fibonacci retracement

Analyst InstaForex
Share this article:
parent
loader...
all-was_read__icon
You have watched all the best publications
presently.
We are already looking for something interesting for you...
all-was_read__star
Recently published:
loader...
More recent publications...