Sell below 1.2927. Stop loss at 1.3000. Take profit at 1.2754.
Reason for trading strategy:
USDCAD is testing its resistance at 1.2927 (61.8% Fibonacci retracement, horizontal overlap resistance) where we expect to see a reversal, causing price to fall to its support at 1.2754 (38.2% Fibonacci retracement, horizontal overlap support).
Stochastic (34, 5, 3) is approaching resistance at 96% where a corresponding reversal is expected. We have also identified a bearish divergence with price which contributes to our bearish bias.
Reason for trading strategy:
USDCAD is testing its resistance at 1.2927 (61.8% Fibonacci retracement, horizontal overlap resistance) where we expect to see a reversal, causing price to fall to its support at 1.2754 (38.2% Fibonacci retracement, horizontal overlap support).
Stochastic (34, 5, 3) is approaching resistance at 96% where a corresponding reversal is expected. We have also identified a bearish divergence with price which contributes to our bearish bias.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.