USDCAD Approaching Resistance, Prepare For A Reversal!
Sell below 1.3084.
Stop loss 1.3142.
Take profit at 1.2967.
Reason for the trading strategy (technically):
USDCAD is approaching its resistance at 1.3084 (61.8% Fibonacci extension x2, 38.2% Fibonacci retracement, horizontal swing high resistance) where it is expected to reversed down to its support at 1.2967 (50% Fibonacci retracement, horizontal swing low support).
Stochastic (55, 5, 3) is approaching its resistance at 95% where a corresponding reversal is expected.
Stop loss 1.3142.
Take profit at 1.2967.
Reason for the trading strategy (technically):
USDCAD is approaching its resistance at 1.3084 (61.8% Fibonacci extension x2, 38.2% Fibonacci retracement, horizontal swing high resistance) where it is expected to reversed down to its support at 1.2967 (50% Fibonacci retracement, horizontal swing low support).
Stochastic (55, 5, 3) is approaching its resistance at 95% where a corresponding reversal is expected.