USDCAD right on support, time to buy

Panjang

Dolar A.S. / Dolar Kanada (FX:USDCAD)

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FX:USDCAD Dolar A.S. / Dolar Kanada

trendanalysis harmonicpatterns chartpattern usdcad usd cad usdcadshort usdcadlong usdcadforecast usdcaddaily usdcadbuy forex

Buy above 1.2664. Stop loss at 1.2576. Take profit at 1.2844.
Reason for the trading strategy (technically):
Price is now testing our buying level and major support at 1.2664 (Fibonacci extension, Fibonacci retracement, horizontal swing low support) and we expect a bounce from this level up to at least 1.2844 resistance (Fibonacci retracement, horizontal overlap resistance, breakout resistance).
Stochastic (34,5,3) is seeing strong support above 3.9% where we expect a corresponding bounce from.

Dagangan ditutup secara manual:

for USDCAD trade we're close to breakeven. I'd look to get out of my position on that as key support is broken. Might be lining up for a stronger drop.

Penafian

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