FX.co ★ USDCAD to reverse from downside confirmation, potential drop!

Price holding below descending trendline and moving average resistance. A break below downside confirmation at 1.30752 should open further drop towards 1st support at 1.30474

Trading Recommendation

Entry: 1.30752

Reason for Entry:

61.8% Fibonacci retracement

Take Profit: 1.30474

Reason for Take Profit:

Graphical swing low

Stop Loss: 1.30948

Reason for Stop Loss:

Descending trendline resistance, Moving average resistance