USDCAD holding below descending trendline resistance, a further drop below 1st resistance at 1.27002 towards 1st support at 1.26389 could be possible. Stochastic is testing resistance where price reacted in the past as well.
Trading Recommendation
Entry: 1.27002
Reason for Entry:
100% Fibonacci expansion ,Graphical swing high resistance
Take Profit: 1.26389
Reason for Take Profit:
61.8% Fibonacci retracement, Graphical overlap support
Stop Loss: 1.27306
Reason for Stop Loss:
-27.2% Fibonacci retracement
