USDCAD broke below ascending trendline support (now resistance). With technical indicators showing room for further bearish downside pressure, a short term drop below 1st resistance at 1.25190 towards 1st support at 1.24747 could be expected.
Trading Recommendation
Entry: 1.25190
Reason for Entry:
50% Fibonacci retracement, moving average resistance
Take Profit: 1.24747
Reason for Take Profit:
-27.2% Fibonacci retracement, graphical swing low support
Stop Loss: 1.25483
Reason for Stop Loss:
Graphical swing high resistance
